Be Prepared, Act Quickly

Written By:

Michael Klassen

Original Article Posted in Home – Greater Toronto’s Finest New Home Guide

My advice for prospective new-home buyers it to be prepared to act quickly when a great opportunity arises. In this hot market, there’s not much time to hem and haw over whether to buy. Being prepared means many things. First, know how much you can afford. If you are a first-time buyer, get pre-approved for a mortgage. If you have a property to sell, look realistically at what you may get for that and plan appropriately. You need an idea of what you can comfortably afford. Of course, location is paramount when you do your new home or condo shopping. Once you’ve narrowed down where and the type of home you want, the key is to get access to whatever inventory developers are offering. Doing your homework ahead of time is more important now than ever before. That includes initiating follow-up with the builder or your listing brokerage, to make sure you’re still top of mind when new inventory launches. Realize that even with slight mortgage rate increases today’s rates are still historically low. Buy now, and lock into these rates and today’s prices before we see them rise again.

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