Consumer Tips : Real Estate : Buying an existing home

Click for members of the Better Business Bureau of Central and Northern Alberta that sell Real Estate.

The following is general information on buying an existing home:

Finding the right home for you and your family is a rare experience, and because it is, you should make it as enjoyable as possible. You will not only be choosing a home but a new life style as well. However, you must remember you are probably also making the largest expenditure of your life, and careful considerations should be made.

You should first contact a lender or real estate agent to determine what size of home will comfortably fit your budget and life style. This will enable you to narrow down your search to a specific price range.

Once a price range has been established, many other questions remain to be answered. You must determine what your housing needs are. These needs should be the basic necessities, such as the number of bedrooms and bathrooms. Make a list of the extras you may desire. Ask yourself how many will be living in the house. Take into consideration what your future housing needs will be as well. It is probably better to buy a slightly larger house than is now necessary in order to anticipate future additions to the family.

Location will play a big part in a home's desirability. You should take into consideration commuting time to work, shopping areas, schools, and churches. You may want to consider the availability of public transportation.

You should consider the overall growth potential of the community. A community that is rapidly growing will ensure good appreciation on your home, but may also mean higher property taxes in the near future.

When you know how much home you can afford and what you want in a new home, you are ready to begin the search. You should make a checklist for yourself to use as you view property, so that you can compare the properties later. Always keep this list with you as you view property. You may wish to look for professional help in finding properties to view by engaging a real estate agent to guide you, or you may wish to clear the path yourself by looking in the classified section of the newspaper under homes for sale. There are also special publications that contain homes for sale, "real estate weekly", as an example.

The secret to house hunting is to take your time. Do not hesitate to turn on lights and open closet and cupboard doors. Relax and take in as much as possible. Remember, this may be your new home, and you would not want to be disappointed when you move in. Also, keep in mind that the perfect home has never been built, and you will probably have to compromise on some of the extras you are looking for. Be sure to take notes as you go through each house for comparison later.

House hunting should be a pleasant experience and will be if you spend a little time in preparation rather than trying to run in many directions at once.