Are You a Savvy Buyer?

Are You a Savvy Buyer?

Are you ready to take the next big step in your life: acquiring your first home? Or are you thinking of purchasing a second or third property, but feel ill-equipped as a potential buyer? It is true that there are many factors to consider. So how do informed and experienced buyers go about it?

A savvy buyer will start by making sure that all the details involved in a real estate sale are covered so that the process proceeds as smoothly as possible. Read on if you want to avoid missing anything and ensure your peace of mind despite today’s frenzied real estate market.

Do You Understand the Real Estate Market? 

Buying property is not something one does on a whim. To properly prepare for such a major purchase, a person must learn the ins and outs of the current real estate market. Certain conditions can make it a buyer’s market while others, conversely, will give sellers the upper hand. 

There is no secret formula for finding a hidden gem at a great price: simply compare the different houses of equal value that are on the market. It is best to check with a professional such as a real estate broker to learn out about today’s trends and the advantages of the residences presently on the market. Choose a broker who specializes in your preferred location for a service tailored to your needs.


Have You Determined Your Real Estate Needs? 

Your new house should meet your expectations, so it’s important that you ascertain your needs, wants and where you are prepared to make concessions before you start visiting properties.

Do you want to shorten your commute? Must your home be close to schools and public transit? Sometimes a residence that at first glance seems off the mark could become your dream home if you are willing to negotiate a few points with the seller and aren’t afraid of getting your hands dirty to make it your own. Plus, this could save you a lot of money!


What Are Your Rights and Obligations as a Buyer?

There is nothing trivial about buying a home. For example, once you’ve signed the promise to purchase, you are bound to it as if it were a contract. Once you’ve put your name on the doted line, you are obligated to acquire the property in question, except under exceptional circumstances. This is why it is important that you take time to consider the pros and cons before you commit to buying the property.

Because of the complex nature of a real estate transaction, it is recommended that you surround yourself with qualified professionals to help you navigate the various steps of acquiring your home, such as a notary (for the bill of sale) or a building inspector (for the pre-purchase inspection).


What Is Your Budget?

You have a stable job with a weekly salary, and you know exactly how much you make in a year. But do you know the maximum amount you can afford to spend on a home while maintaining your current standard of living? Understand your needs and desires (which might not correspond!) to set a realistic budget.

Even if you’re a math whiz, schedule an appointment with an advisor at your bank. They can help you fill out your mortgage application (what the bank is willing to lend you) and advise you on the many financial aspects of purchasing a home.  


Are You Working With a Real Estate Broker?

It is always wise to hire a real estate broker. This professional can provide guidance on what questions to ask sellers, highlight the pros and cons of the residence, and ensure that the related documents’ legal requirements are met. Doing business with a real estate broker gets a conscientious buyer what they want: a turnkey service!


So, do you believe yourself to be real estate savvy?


RE/MAX Québec

By RE/MAX Québec

By RE/MAX Québec

A leader in the real estate industry since 1982, the RE/MAX network brings together the most efficient brokers.