Burlington offers residents an exceptionally high standard of living and is consistently listed as one of the best places to live in Canada. If you’re house hunting in Burlington, you may be wondering “what questions should you ask before buying a house?”.
There are a number of essential questions you should ask your Burlington real estate agent before signing the dotted line. So, what questions should you ask before buying a house in Burlington?
Our team of real estate representatives at Team Logue have advised numerous homebuyers and recommend asking the following questions throughout the home buying process.
How Do I Prepare to Buy My First Home?
One of the most common questions we hear from clients is, how do I prepare to buy my first home? When Taryn and Harry, a young professional couple planning to buy their first home, began looking at Burlington real estate, this was their first question. When we carefully consider what questions should you ask before buying a house? This is at the top of our list.
The decision to purchase a home depends on a variety of factors, including your finances, your future plans, and your job security. The Burlington real estate market is a highly competitive housing market that requires the expertise of a knowledgeable realtor to help you find the perfect home for you and your family’s specific needs. The vibrant, growing community coupled with beautiful Burlington homes for sale makes Burlington a much sought-after place for young professionals, new Canadians, families, and retirees. It’s renowned for being a generous community and a very attractive place for people of diverse backgrounds.
Our team of Burlington real estate agents have advised numerous happy homebuyers and can help you and ensure you are well prepared to buy your first home.
How Much Money Should You Save to Buy a House?
When considering what questions should you ask before buying a house? Knowing exactly how much you should save and your price range is essential. One of the biggest mistakes first-time home buyers often make is falling in love with a home that they can’t afford. Estimating your monthly mortgage budget, including housing costs such as insurance, maintenance, property taxes, and utilities will give you a rough idea of how much you can afford.
We recommend making an appointment with a mortgage broker at your bank to get pre-approved for your mortgage, and getting a concrete answer of how much money you should save to buy a house. It may even mean you can afford more than you thought you could!
Rising interest rates have begun to make it more difficult for Canadians to purchase a home. This may make it difficult for prospective buyers in Burlington South, Burlington North, Oakville and Millcroft. But if you can afford to live in up and coming neighbourhoods, investing in a growing community is a good way to build wealth, equity and future stability.
Millcroft, for instance, was first established in the late 1980s. Since that time, Millcroft has grown to approximately 3,940 homes. Over the past 10 years, the median sale price has increased from $645,000 to $1,295,000. If you’re looking for a community that offers great value, world-class amenities and truly exemplifies a sense of community to its residents, Millcroft is an exceptional investment. This well-established and much sought-after prestigious golf course community in Burlington has steadily grown over the past decade. In 2018, Millcroft had grown to approximately 3,940 homes.
Once you’ve saved enough, you will have a concrete price range, which will save you from the temptation of dreaming about a home you can’t afford. Your Burlington real estate agent will work with you to ensure you find a home that suits your needs and meets your expectations within your budget.
What are Your Must-Haves?
Consider your must-haves. Ask yourself, what can you absolutely not live without, and what can you compromise on? Make a list of must-haves and would-likes before you start house hunting, but keep an open mind as you may have to adjust your ideal must-haves to align with your budget. Finding a balance between features you can live without and features you consider an absolute deal-breaker will ensure you find a home that meets your needs and your budget.
Perhaps you begin looking at Burlington real estate in a different neighbourhood, or you find a home that checks off all the boxes, except for a garage, which means re-evaluating your must-haves and compromising on certain features.
What to Know Before Making an Offer on a House?
The financial benefits of homeownership are long term, so choosing the right neighbourhood and home is essential. As you begin the house hunting process and getting closer to homeownership, you may be wondering what questions should you ask when looking at houses, making an offer, and what questions should you ask before buying a house?
When Taryn and Harry found the perfect home for them, their Burlington real estate agent was able to advise them throughout the negotiating stage. It’s important to ask yourself and your real estate representative, what to know before making an offer on a home?
When considering what questions should you ask before buying a house? Understanding what the offer price is based on, the condition of the home and the location are key factors when you ask yourself, what to know before making an offer on a home. The more information you have about the home, the more negotiating power you possess.