How To Be A Savvy Home Buyer

Hunting for your next property in Victoria, BC can be a thrill. You get to explore properties around you and imagine yourself in new settings. From house-hunting, you can pull inspiration and develop your list of priorities. What you need, and what’s nice to have in your next house.

However, there are a lot of factors to consider when choosing your next home. You’ll want features that appeal to your visual taste or lifestyle so you can feel comfortable in it and proud that it’s yours. It’s also important to know the right tricks for buying so you don’t get overcharged or buy a home you’ll regret later. To be a savvy home buyer who knows how to navigate the Victoria market, try these two major tips:

Know How to Judge Structural Quality

As you scope your potential new home during viewings, there are some major factors to look for to ensure the place is suitable for your needs:

• Curbside appeal is a good start for judging if the home looks good quality from the outside (well-maintained roofing, non-chipping exterior paint, groomed yard). 
• As you step inside, your first impression is important. Trust your judgment of whether the home seems to be well-constructed at your first glance. 
• If it appears to be structurally sound at first glance, proceed to check for finer details. 
• As you continue looking around the home, check for signs of damage, including flood stains in the basement, evidence of an infestation, or cracks around windows. Investigate the quality of appliances, too. 

Determine if the Price Is Fair

You will want to ensure that the market price is really as fair as the seller may claim. With your home investigation, you can develop a general idea of whether the pricing is reasonable, especially if it’s damaged at all. Other ways to learn if you should place an offer at the listed price is: 

• Comparing it with prices being listed by their competitors on the market or with the value of other homes in the neighborhood
• Knowing its Days on Market (DOM). This will indicate if the seller has been struggling to sell the property, especially if it’s been on the market for multiple months. In this case, you should be able to offer a lower price than their listed value.
• Determining if you are in a buyers or seller’s market. If limited buyers are looking for properties, you may have the upper hand to negotiate a lower price.
• Include contingencies in your offer like home value appraisal or necessary repairs to be made before the purchase is finalized. That way, you can be sure the pricing and conditions of the offer are fair. 

Get Help From the Top Realtor in Victoria, BC

To ensure the house hunting and buying process really goes your way, you’ll want the best realtor in Victoria, BC. Our firm’s expert realtors will help you judge a property’s quality, share all necessary insights, and offer their professional advice to help you get your next Victoria dream home. Contact our team today to find your next home.