Your Home Search – Don’t Just Spin Your Wheels

5 Tips to Gain Traction and Find the Home of Your Dreams


1.       Take control from the start! Get a Pre-Approved Mortgage; this puts you in the driver’s seat, and ready when that perfect home reveals itself. Combine that with continuously changing mortgage rules and rate’s make a full pre-approval a necessity. You will shop with confidence, clarity and on budget, with a rate, terms and conditions to suit you. I have an excellent data base of experienced mortgage professionals I can refer.

 

2.       Write Your Wish List . . . What do you want? Where do you want to live?  This is a balancing act between the luxuries and functionality, proximity and commute, and of course budget. Your wants vs needs will determine on your lifestyle as a home owner and when you are clear on what is realistic, you will save countless hours, and frustration.

 

3.       Consider the Age of the Home you want . . . Do you want a fixer-upper, or move-in ready? Deciding on what you are comfortable taking on in the way of updating, repairs and maintenance will focus your search and lead to happy ownership.

 

4.       Timing is everything! There are many driver’s behind deciding on when is the right time for me to hand you the keys to your new home. Factors like the school year, seasons, ending of a lease, start/completion of work, growing your family and others will play into this. Knowing that most seller’s will require 30-60 days to vacate a property can help you on deciding when to start your search and negotiate more favorable terms.

 

5.       Think long-term. You are buying a home now and your current housing needs may be obvious. Your home should accommodate your plans, and your lifestyle. Will your family size change? Do you want a pet?  What is changing in the community? Ask the questions. If the LRT is planning to add an extension in the area you are considering, will it be at your front door? Future resale will be affected by outside factors.

I can help you navigate through your wish list and determine what makes sense. Edmonton has been my race track for 14 years, I know the Edmonton market, and have a team of professionals to cover all the corners.  


Graham Ogden Realtor, RE/MAX River City

graham@grahamogden.com

780-908-1224

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Today’s Bank of Canada rate hold announcement marks almost four straight years that the key benchmark rate has remained unchanged, since September 8, 2010. Great news if you have a variable-rate mortgage or home equity line of credit; the prime rate stays at 3%.

 

The announcement noted that “the risks to the outlook for inflation remain roughly balanced, while the risks associated with household imbalances have not diminished.” With these considerations, the Bank is maintaining its monetary policy stimulus, and remains neutral with respect to the timing and direction of the next change.

 

The next rate-setting day is October 22nd.

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.