The new year brings with it a wealth of possibilities. Throughout Barrie and the rest of Ontario, folks are coming up with new ways to improve themselves and their lives. For some, this means new resolutions to exercise more often. For others, it might be the decision to start changing the way they look at everyday events. And for you, it might be that you’re finally ready to buy a home this year (maybe even your very first house).
Before you dive into the process, however, there are some important questions you should ask yourself and your mortgage broker to determine if you’ve got all the right factors in play for this decision.
Are You Ready to Buy a Home?
The idea of finally settling into a new home is thrilling, but there is a right time and a wrong time to buy. First and foremost, you need to honestly assess whether you’re financially stable or not. Buying a home is a big enough purchase all on its own, but have you planned ahead for utilities and taxes? You’ll also want to evaluate whether you’re comfortable with the idea of altering your lifestyle to be able to make your monthly payments.
Do You Have a Good Team Behind You?
You’re not expected to be an expert on everything, but many first-time homebuyers try anyway. That’s why it’s so easy to get overwhelmed if you attempt to buy a house without a team of professionals. Minimally, you’re going to want to have a good mortgage broker on call. Buying a home is one of the biggest purchases you’ll ever make throughout the course of your life, and there are many different ways you can arrange to pay your mortgage.
A mortgage broker in Barrie, Ontario will have the additional benefit of being familiar with the rates and options available in this specific area. Instead of trying to teach yourself a crash course in general mortgages across Canada, a mortgage broker is your fast-pass to the best options available in your desired neighbourhood.
Do You Know What Kind of Home You Want?
Before you start arranging visits to different houses, you should take some time to get an idea of the kind of home you want. What is your budget for buying, and what do you want your home to include? Are you planning to stay in your new home for 5 years or 15? If you have children, should it be close to their school? Do you want your house to be close to your workplace, or are you willing to travel a little farther each day for a house that has more of what you want?
Once you know what you’re looking for, you can drastically narrow down your search to houses that actually match your criteria and price range, rather than drifting aimlessly from place to place. This will help you find your dream home faster, which means you’ll have more time you can spend in your day.
So, Have You Spoken to a Mortgage Broker?
Barrie, Ontario is home to a housing market that is constantly changing and evolving. A mortgage broker can help you by taking the stress out of buying your new home. Unlike a bank, a mortgage broker will take your personal and financial preferences into account, which means that your interest rates and terms can be perfectly suited to your finances and your lifestyle.
If you’d like more information on how a mortgage broker in Barrie, Ontario can help you, give me a call at (705) 791-6683. You can also contact me online.
