Despite a slow-down in other real estate markets, the Muskoka market continues to do well. For those of us lucky enough to call this area home, it’s certainly no surprise. We all know that Muskoka is the place to be.
Whether you are moving to Muskoka, within Muskoka, buying a cottage, or thinking of buying your very first home, there are a few things you need to cross off your to-do list to ensure that you are prepared when the time comes to make an offer. These include:
1.Make sure you have your finances in order and use a budget
For first-time homebuyers in particular (and everyone in general), you need to make sure your finances are in order before you decide to buy. Owning a home is a big financial responsibility, so it makes good sense to get your debt under control and have a budget in place that you can stick to before making the home-ownership leap.
2. Get pre-approved
Getting pre-approved for a mortgage before house-hunting officially starts is also a great idea. By getting pre-approved, you’ll have a solid understanding of how much house you will be able to afford, as well as make a good impression on sellers and realtors because they know you mean business when it comes time to putting in an offer.
3. Create a must-have list
Wish lists are great, but it’s also necessary to be clear about your non-negotiables when it comes to your new home. Before you start really looking, create a list of things that your new home must have. This could include things like a fenced yard for the dog, enough bedrooms for your kids or enough space for your growing family. Whatever your requirements, being clear about them before your search commences will help you narrow down your list of potential properties and find the right one faster.
4. Find a great real estate agent
Once you know what you want in a home (and what you definitely do not), it’s time to connect with a real estate agent in your area. Working with a local agent is key to finding the right home, as your agent will have the experience and knowledge of the area to guide you in the right direction. When searching for an agent, look for someone you can establish rapport and trust with. You’ll also want to find someone with quite a bit of experience working in this area and working in the real estate industry in general.
5. Connect with a real estate lawyer
A real estate agent is not the only professional you’ll want to add to your team when looking for your new home. You’ll also want to connect with a real estate lawyer prior to making an offer on a new property. Real estate lawyers work with their clients to provide legal guidance throughout the home buying journey and will ensure that all documents, land titles, land transfers, and agreements are ‘air-tight’.
At Ares Law, we specialize in providing real estate legal services to clients in Bracebridge, Gravenhurst, Huntsville, Port Carling and surrounding areas in Muskoka. Connect with our team and we’ll help ensure that your home buying journey is smooth and stress-free. Give us a call today at 705-645-8743.
