Save some cash for a down payment
Most home loan providers – banks and finance institutions – will ask you to make an initial payment that is up to 20% of the loan. If you can’t afford to pay this amount, you will be required to pay private mortgage insurance. That is why you should do your best to build up your savings so you can make this initial payment and move in to your new home with some equity. This will even help you to avoid owing more than the monetary value of the home.
Get loan pre-approval
A pre-approval for a loan will hasten the process of obtaining a good deal on any home you choose to buy. In fact, it will help you to avoid unnecessary delays that usually occur towards the tail end of the closing process. But you must be aware that your loan provider will check up on your credit report, your pay stubs, tax papers and other important personal finance documents. So you should put these documents in order before you approach a lender. After the lender has told you how much will you will be eligible to borrow, you can approach a real estate agent and begin to look at some of the Whitby homes for sale.
Hire a reputable real estate agent
A real estate agent can help you to find and choose a suitable home out of the numerous houses for sale in Whitby. They have instant access to local and national listing services that list thousands of Whitby houses for sale. Agents can advice you on the best location where you should buy a home, within the constraints of your budget. They are conversant with the details of the state of the market in your desired location. So you can take full advantage of their experience and professionalism.
Look at many houses
Allocate time each week to go out with your agent and look at many homes within the city. Attend open houses and make appointments to re-visit and thoroughly inspect houses that are attractive to you. If the first house you see appeals to you, don’t assume that it is the best option available. Find time to look at a few more homes before you make your final decision. When you visit any home, take your checklist with you. Examine everything thoroughly from the inside to the exterior. Take note of areas that need repairs. Inquire about the age of the house and assess all the appliances and fixtures in the house.