Successful House Hunting: A Guide

March 3, 2020

So, you’ve made the decision to purchase a home and want to plan a successful house hunting trip. Congratulations! This is a very exciting time. While we are sure you are probably eager to hit the ground running, it’s important not to get too caught up in the excitement of the moment. 

Purchasing a home is a major decision and any of the top Victoria Realtors will tell you that you should take a slow and steady approach to the process. This is because purchasing real estate will have an important impact on not only your lifestyle, but your personal finances as well for years to come. So, let’s take a look at how you can prepare yourself for a successful house hunt!

Establish Your Budget

First things first, you’ll need to have a very clear understanding of your budget and you’ll need to make sure you stick to that budget. Many homeowners fall in love with a space that is just beyond their reach. But, if you are carrying a mortgage that is placing undue financial stress on you and your family, it is simply not worth it. After speaking to top Victoria real estate agents, it is clear that all of the added financial stress in your life, you won’t be able to enjoy your beautiful new space anyways. So don’t make this common mistake. 

Instead, do the work upfront to examine your spending habits, credit score, and current savings. Use these variables to explore your financing options. Remember, just because you qualify for a mortgage doesn’t mean you should take it. Make sure that you feel confident about your ability to take on the monthly payments before you sign on to anything you can’t handle. Finally, don’t forget to factor in the hidden costs of homeownership. From taxes to closing costs to maintenance there are many additional expenses that will come your way as a new homeowner. So, make sure you are prepared for these as well. 

Determine Your Deal Breakers and Must-Haves

Talk to any Victoria Realtor and they would tell you that once you have your budget in order, it’s time to give a little bit more thought to what you are looking for from your living space. To do this, make three lists. On the first list, write down all of your must-haves. These are things you just can’t live without. 

Maybe it’s a large backyard for your children or family pet or perhaps it’s a guest bedroom for visitors. On the second list, write down a list of your deal-breakers. For example, perhaps a home on a busy street with lots of traffic and noise is not the right fit for you. 

On your third list, write down your nice-to-haves, these are elements that you would love your new home to have but, if they are not available, you will still consider the space as a viable option. Once you are equipped with these three lists you’ll be much more prepared to start your house hunt and you won’t waste time seeing homes that ultimately won’t be the right fit for you. If you have a great idea of everything you wanted and are eager to see a set of potential homes, check out listings

While buying a new home is very exciting, it’s important that you take your time with the process and ensure that you are well prepared for the process. Once you’re ready to start, it’s time to find the best realtor in Victoria, BC. We have just the person in mind! Contact our team today to find out how we can help!