What kind of stool is most likely to keep you from toppling over when you sit on it? Of course, two-legged stools won’t even stand on their own. Three-legged stools are okay, but still unstable. Four-legged stools are rock solid.
What does this have to do with shopping for a new home?
Well, if you want to find the right home quickly and for the best price, you need to have four things in place - the four legs of the stool. They will help ensure the experience goes smoothly.
The first leg is your wish list. You need to have a clear picture of the type of home you want. How many bedrooms? A large deck? Don’t forget about the neighbourhood. Do you need to be close to major highways for ease of commuting?
The second leg is a pre-approved mortgage. Getting the financing handled upfront takes the guesswork out of what you can afford. And, sellers are more likely to take any offers you make more seriously. Check out my podcast episode where I talk to Kristin Stauffer of Dominion Lending Centres about preparing to purchase your first home.
The third leg is realistic expectations. Of homes that sell, 99% sell at or near their current market values. That doesn’t mean you can’t find a good deal. It does mean you’re unlikely to find a “steal”. Fortunately, there are likely several wonderful properties available within your price range.
The final leg of the stool is a great real estate professional. Choosing the right real estate professional is crucial to making your home shopping experience less stressful and more productive.
So, when you’re hunting for a new home, make sure you start with a stable “four-legged stool”. It will dramatically increase your chances of finding a home that fits your needs and budget.
Need help with that? Give me a call!
Be sure to check out my first podcast of the "Buying Your First Home Series: Preparation" where I talk about how to create a needs and wants list that won't get scrapped, every single expense you'll run in to, and how to choose your lender (including an interview with Kristin Stauffer, who is one of my go-to mortgage brokers). Click the button below.