Be Market Smart: DO’s and DON’Ts of Buying Burlington Real Estate
The quest of finding your dream home can be a very exciting experience, but it can also get a little too overwhelming because of the many options to choose from. As an estate buyer, you should have patience, determination and certainty when surveying around the estate market so that you’ll only get the best of the best. To help you out, here are some of the things you need to consider:
DO hire a well-experienced attorney
Never settle on a deal without consulting first a good, well-experienced estate attorney to help you evaluate the contract of purchase or the sometimes referred to as the purchase and sale agreement). As you know, the terms in the contract are irrevocable, so you need an attorney to negotiate and draft the terms in such a way that it protects your interests.
DO get a mortgage approval
If you can’t present solid cash straight up with the estate dealer, you’re going to need a backup plan which can be found in mortgage deals. Financing an estate is tiring enough, the last thing you need is the dealers or sellers not taking your negotiation terms seriously because you don’t have a financing plan. Land the pre-approved mortgage first, and then the property.
DO get the home inspected
Inspecting the Bronte woods homes you’re eyeing is crucial, as this is how you’re going to know if there are underlying issues that need to be addressed – from the roof, gutter, living space, kitchen, bedroom, bathroom to the backyard. Hire a home inspector to help you evaluate the area. It’s important that the place must still be in pristine – if not perfect – condition.
DON’T bet all your cash and savings when buying a home
Although it’s practical to pay for Burlington real estate straight up, you should at least have a sufficient emergency fund stored away in your personal savings account. It’s best to be armed with money should unexpected circumstances occur – from minor repairs, furnishing acquisition, to home remodeling.
DON’T go into anything but a fixed rate mortgage
If you plan to sign up for a mortgage to finance your estate at The Orchard Burlington, consider a fixed rate mortgage. It’s an ideal method, especially if you’re cutting back on your expenses as you don’t want to exceed your monthly payment or budget. Forget the “adjustable, interest-only or option-arm” type of mortgages as they might pose unpleasant surprises for you in the end. Visit realtor.com/blogs for more information.
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