Starting in February, Real Estate activities are again beginning to flourish. People think about moving in the spring or early summer in order to enjoy their new house. This is why we see so many FOR SALE signs popping up faster than flowers in April. I have personally bought 3 properties already and have learned a lot from each experience.
In order to help you make the right choices, I’m sharing with you my top 5 tricks to buy a property.
Sometimes, Small is Beautiful
Big houses with a double garage and a finished basement or huge loft downtown with a wall of windows displaying an amazing view are great. In fact, we all wanted to have something like that while we were stuck in our 3 room half basement apartment barely able to see daylight through the kitchen window. However, dreaming big often becomes a burden over time.
If you can afford to buy a big house or condo, it’s not a reason to do so either. Think about the fact that you will have to spend a lot more time to clean and maintain it as well. If you have to spend a whole day cleaning your place each week, I’m not sure how this really improves your lifestyle. Sometimes, you don’t have to pay that much to enjoy something smaller. You always have the possibility of renting a vacation property from time to time if you feel the urge for more space. But on a daily basis, it is definitely more convenient to life in a smaller home.
Use a Real Estate Agent
I’m a big DIY fan for many things. For example, I would never use a Real Estate agent to sell my property (too expensive!). However, when it’s time to find the right house for my needs, I always deal with a realtor. The main reason why I do so is that he will know the market better than me. For example, when my bought my condo in Montreal, I wanted to make sure I was hitting the right neighborhood. Montreal is a big city and it wasn’t that simple to know where the coolest affordable spots were hidden!
Do You Really Need a Marble Bathroom?
Along with the fact that you don’t need to buy a warehouse to be happy, you may not need to buy the most luxurious property on the market to wake up with a smile daily. I like things with good taste, but I’m not often prepared to pay too much for high end materials such as marble. Maybe you can find something with a similar look but at half the price.
Also, don’t get too over hyped about new construction. They show you their most expensive model to attract you but when you sit down with the salesman, you notice that most of what you saw were extras to be added to the basic price. Don’t let your feelings overcome your budget!
Imagine the House with Your Special Touch
I remember visiting older properties where the owner had no taste at all. I think some people are stuck in the 70s and have never escaped. This could make for a darn ugly property. However, when you think of your own furniture and see the room with a fresh paint, the property could easily become the one of your dreams. You don’t have to spend a fortune on a room to make it trendy. Usually, fresh paint on the walls, a few accessories and you are done.
If people can’t make it past the owner’s bad decorating taste, you may end-up with a deal!
Don’t Think You Will Renovate Everything
Finally, unless you are truly passionate about renovations and quite handy, don’t think you will change the whole house within the first month of moving in. I often hear my friends talking about their renovation projects but months go by and the work is not getting done.
Moving is already stressful and demanding, if you have to live in a construction zone for several months, you might quit and forget about your projects. Don’t think you will have the patience and energy to renovate the whole house. Life goes on, work picks up and the last thing you know is that you still live in this great place with an ugly kitchen!
A good idea would be to plan to renovate before you move in. It is sometimes possible to have the house prior to the moving date. Therefore, you can reserve a few weeks for renovation and you won’t have to deal with it later on.
What’s Your Home Buyer Tricks?
I’m sure you have plenty of them. I’m curious to know what your own experiences have told you.
Financial professional and online entrepreneur, I'm best known as The Financial Blogger. I want to make money because I like enjoying life the way it should be; with a lot of great food and wine! I also love to spend time with my lovely wife and 3 kids!
