Now that we’re already on our 3rd week of the year and most Edmontonians are back from their awesome vacations, it’s about the right time to discuss some key real estate stuff again.
Today, we would like to refresh you with the 4 simple things to check before buying your Edmonton dream home.
Let’s begin with…
- CREDIT SCORE: The first and most important thing you have to check before you go shopping around for that Edmonton dream home is to get pre-qualified. It would be a complete disaster if and when you already found your Edmonton dream home and you’ll find out in the end you would not be able to afford it!
Also note that your credit score plays an important role in determining the interest rate that you will get for your mortgage-that, together with the amount of your down payment.
Luckily for you, Team Leading Edge have partnered with Edmonton’s most reliable mortgage brokers. Check them all out here: Edmonton Real Estate Partners.
Here’s a good resource to add to your mortgage reading list: Edmonton Home Mortgage-Here’s What To Prepare For
- FINANCIAL PLAN: After you have been pre-qualified, you can move-on to the next agenda on the checklist: planning for your expenses.
Buying an Edmonton home is one of the biggest financial decisions you will make in your lifetime so having a financial plan should be one of your top priorities.
Calculate how much you are earning and how much you will spend for the mortgage and living expenses. As much as you love owning that beautiful Edmonton home, if it’s beyond your budget, you should think twice of purchasing it.
If you buy something you can’t realistically afford, you’re committing financial suicide.
- CONTINGENCY FUND: You should always have a plan B-which in this case is a back-up money in case something goes wrong. Check again, buying an Edmonton home is a big financial decision so having that extra fund that you could tap in case of emergencies is critical.
Owning an Edmonton home comes with the responsibility of maintaining it. One of the worst things that could happen is to have a broken heater in winter and you lack the money to fix it. That would really be uncomfortable, as much as it is embarrassing.
- REALTOR: Last but not least, you have to find and work with a reliable Realtor. You will need a local expert to help you in all the aspect of the transaction. Someone that would advise and steer you away from all the dangers of the market and not just push Edmonton homes in your face.
Forgive us for the shameless plug, but when it comes to Edmonton real estate, Team Leading Edge is one of the most reliable in terms of service and delivery. The awards and recognitions garnered last year is evidence to the dedication of the team.
Call the Edmonton real estate specialists at 780-634-8151.
Note: Remember, you can access all our available Homes For Sale in Edmonton through our Edmonton MLS Listings page.
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