In the past couple months the Guelph real estate market has become much more desirable for home buyers. If you've been waiting patiently for an ideal time to buy a home or condo in the royal city then you should consider putting in a few offers now. However, there are a few things you need to think about before that step:
What are your needs? You have several options when purchasing a property and each option has its own pros and cons. However, the one that's right for you can be determined by considering your homeownership goals, your budget, and your tolerance for work needed to be done on a property. Guelph has many options for you to choose from whether your interested in buying a condo, townhouse, or a detached home.
Who will help you?
A real estate agent will help you locate homes that fit your needs and meet with you to view those homes. Realtors will also help with negotiating, making an offer, getting a loan, and completing the necessary paperwork. Going with a highly skilled and experienced agent is always your best bet. If you're currently looking for one, consider one of the DiLoreto & Long agents!
The Buying Process
1) Finding the perfect home
Getting your real estate agent to assist you with finding potential homes that fit your criteria will make this step a breeze. Learning more about, and experiencing the various neighbourhoods in Guelph should also be a priority in this phase so that you can find an area where you feel at home!
2) Financing options
Depending on the amount you currently have saved up for a down payment, your options will vary. It's important to understand what your limit is, because you don't want to put yourself in a bad financial situation. If you're not sure where to start your realtor can help point you in the right direction.
3) Make an offer
Your real estate agent will assist you with this by determining how much to offer and implementing conditions you want into your proposal. If your original offer isn't accepted, you will then have the choice to accept a counter, or continue to go back and forth. If you end up reaching an agreement with the seller, you'll make a good-faith deposit and the process then transitions into escrow. If you have any questions about making an offer on a property contact the DiLoreto & Long real estate team.
4) Getting a home inspection.
The home may appear to be flawless, but you should still have a trained professional inspect the property's overall condition. If the inspection reveals any serious defects that the seller failed to disclose, you'll generally be able to get your deposit back or negotiate to have the seller make the necessary repairs.
If you're thinking about buying a home or condo in Guelph feel free to ask the DiLoreto & Long Team for help!