Armed and Ready

The Bank of Canada met for the first time this year and announced that they will be holding rates steady for the time being.

Great news!

Sort of…

This will instill confidence back into the market and as a result it will become competitive among buyers once again resulting in multiple offers and in many cases ‘subject free’ offers.

Is becoming a homeowner in 2024 on your goal list?

If so I cannot emphasize enough how important it is to be armed and ready when you decide to get serious about buying a home.

Real estate markets such as the one we are about to enter into cannot be approached casually. 

Yes, of course you should always take your time to explore properties so you can get a feel for what you can buy in your budget, and to get a good understanding of the market. BUT, when you are ready to take it to the next level you must be prepared.

How does one ‘prepare’ to buy a home you ask?

The first (and most imperative) step is to meet with a mortgage broker and get pre qualified for a mortgage. 

This doesn't mean call your bank and see how much they’ll give you, this means speaking with a mortgage professional and getting into the nitty gritty of providing them pay stubs going back two years along with whatever other documentation they require.

Bear your soul, give them everything they ask for because there’s absolutely no room for an ‘oopsie, I forgot to mention that’ when they are trying to get you financing for the home you’ve fallen in love with.

Step 2… connect with a REALTOR®. At the beginning of your search you might enjoy just poking around open houses on your own feeling out preferred locations and narrowing down your wants vs needs list. 

That’s cool, however, there is great value in having someone to guide and advise you so that you’re set up for success when you find the one.

There’s a lot to learn and understand about the process of buying a home so be sure to align yourself with a team of professionals that can help you achieve your goal of homeownership and start building wealth through real estate.

Questions about the buying process? Please reach out! 
My goal is to provide guidance and education so that  you feel empowered to make decisions.