10 tips to buy your dream home

Make your home purchasing experience, a great one!

Picket fences, bright red brick, high pitched ceilings – there are certain things that probably come to mind when you think about your dream home. After years of hard work building equity in your current home, now may be the time to make that dream home your own.

Keep these tips in mind and you’ll be moving in in no time.

  • Break your dreams down. Neighbourhood, size, style, age – the home of your dreams has a lot of different features and there are a lot of different homes that’ll have those features. Make a list of what’s absolutely necessary and where you can compromise.
  • Don’t rush into it. Patience is a virtue and if you take your time you may find your dream home’s more common than you thought.
  • Know how much you can spend and don’t go over budget.
  • Be willing to walk away. Think of your dream home as a collection of features instead of a specific property. Try not to get emotionally attached. If there’s a home you love but you don’t think you can afford it, be ready to walk away. There’ll be others like it.
  • Be realistic. You may need to make some compromises to your dream so that your new home’s affordable. Your dream home doesn’t have to come with a nightmare mortgage.
  • Location, location, location. You’ve heard it already, but here it is again – in real estate, nothing’s more important than location. You can change a lot about your home, but its location isn’t one of them.
  • Look into your crystal ball. If this is your dream home you’re probably going to be there for a while, so try to make sure it’ll suit your needs throughout the years ahead.
  • Embrace renovations. Buying a home that needs a few cosmetic tweaks is a chance to save on the purchase price, and when you handle your own renovations, you get exactly what you want out of them.
  • Remember the fundamentals. The foundation, roof, windows, insulation, furnace, electrical system aren’t exactly exciting, but they’re important and fixing them can be very expensive. Don’t let yourself be blinded by finishes and forget the fundamentals.
  • Have fun! This is an exciting time in your life, so take the time to enjoy it.