Ask a Real Estate Lawyer: Tips for Finding a Resale Home
As an experienced real estate lawyer, we often get the question, “got any good tips for finding a resale home?”. Here’s our answer.
When buying a home, it is important that you do your homework. You are going to need to ask yourself some questions to make sure that you buy the perfect home for you and your family.
You also shouldn’t do it alone. A good real estate professional can make everything go even smoother. You may even want to hire a real estate lawyer when buying a resale home.
What Do You Need in a Home?
In addition to the various specific physical components of your dream home, there are a number of more subtle, esoteric items that will help you decide whether a home is right for you.
You should ask yourself the following questions:
- Is your lifestyle suitable to a freehold home, or a condominium? Which type of home is going to work best for you and your lifestyle?
- If you decide that you would prefer to live in a condo, are the fees manageable and within your budget?
- Does the neighbourhood or condo complex feel like a community?
- Does it have a good array of amenities nearby? Are you close to shopping centers, medical services, restaurants, and recreational facilities?
- If you have children, are there other children nearby who are close in age to yours?
- Is the home close enough to your other family and friends?
- It is close enough to other aspects of your life, such as your job or place of worship?
- What is the local traffic like, especially during peak times?
- What about the noise levels?
- If you don’t have a vehicle, are you close enough to public transportation?
- If you do, is it close to major highways so you can easily get where you need to go?
These are all important questions to ask yourself before you make the decision to buy. After all, every house will have four walls and various physical amenities for day-to-day living, but what you are looking for is a place that “feels like home”.
Here are some tips to make the search easier
Here are some pointers for narrowing your options and streamlining the process as much as possible.
Know what you are looking for
Because there are so many resale homes on the market, it is important that you know what you are looking for. So, be sure to narrow down your style, location, and approximate age of the home you are looking for before you go any further. You don’t want to waste your time looking at houses that will never suit you or your family’s lifestyle.
Do your research
Make a list of the features that you want and start to prioritize them in order of importance. These can include things like schools, access to transportation, and price.
Think about the money
Lenders have specific criteria that they apply when considering whether to advance funds to Before you even start looking, you should meet with a potential lender so you know exactly what your budget is going to be.
Set a timeline
You should try to set a realistic goal for a future move date. You need to take into consideration the time you need to sell the home that you live in.
You need to have realistic expectations. If you find a home that you love, but it is too much, you could end up living a financial nightmare. You also need to be open to the homes that you visit. You may end up falling in love with a home that you never would have looked it in the first place!
If you are considering buying a resale home, you are going to need a ask a real estate lawyer for more than just tips! We would love the opportunity to help you – contact us for more information.
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