As the hot seller’s market in Markham continues, the stakes are higher than ever for homebuyers. If you’re on the hunt for your next home during these times, you’re under a lot of pressure to make a decision fast before your competition gets involved. If you like one house, you can’t necessarily shop around for more options expecting that the house will still be on the market when you come back to it. That’s why being a decisive home buyer is essential when buying a house in a seller’s market.
Despite being under more of a time limit these days, you will want to be confident in your home buying choice before you invest. Here’s how to make an informed, thoughtful buying decision in a competitive market:
Get a Mortgage Pre-Approval
A mortgage pre-approval not only helps you appear more legitimate to home sellers, but you’ll also have a better idea of your actual budget. Many house hunters enter the market without consulting with a lender first. If they don’t have the finances or the credit to get a favorable mortgage agreement, they could be wasting their time looking at houses beyond their actual budget. Your mortgage pre-approval will help you be more decisive without questioning house affordability.
Location Is Constant-Everything Else Can Be Changed
One valuable tip is that you should prioritize where you want to live above everything else. You could always do home renovations after buying. However, once you commit to a home, you can’t change or upgrade its location. By choosing a neighbourhood you can legitimately envision yourself living in, you’ll feel more confident about buying if the location suits your needs and lifestyle.
Do Your Pre-Hunt Research
Before starting your house-hunt:
- Spend time online looking at listings for homes in the location you like and within our budget.
- Learn about the property so you can have informed questions ready if you were to visit it.
- Better yet, ask your agent any questions you might have before visiting the property.
By knowing your facts, feeling good about the technical details, and then using the viewing to verify what you know, you’ll be more convinced that the house is right for you. That way, you can take immediate action ideally before your competition so you can avoid entering a crazy bidding war.
Work With an Expert Markham Real Estate Agent
Being decisive relies on information. Knowing details about the property you’re interested in, what their competitors are priced at, and other market insights will help you make a fast decision with positive results. That’s why working with a local real estate agent who knows the market conditions and how to help buyers thrive in a seller’s market is the best strategic move for you.
Let Martin MacFarlane help you when buying a house in Markham. He will have all the insights you need to make a confident, informed decision fast so you can claim the house you want. Contact Martin today to find your next dream home.