Taking the Stress out of buying a home
If you’ve been looking at detached houses for sale in Brampton, then you probably already know how complex and confusing the home buying process can be, especially if you already own a home. There are many townhouses for sale in Brampton according to ones needs and wants. But buying homes for sale in Brampton can be a complex process if you don’t have enough information.
Getting pre-approved for a mortgage, making a list of what features you want in your home, finding the perfect home and then going through the offer/purchase process is enough to make anyone light-headed! Top realtors in Brampton can be very helpful for this purpose also. However, you can take the stress out of buying and financing a home in Brampton if you keep a few things in mind.
- Buy with the Future in Mind: When you’re looking for the perfect home in Brampton, don’t just buy for today; buy with the future in mind. Are you going to be expanding your family soon? Or are your kids going to be leaving the nest in the next few years?
- Put more than the Minimum Down Payment towards purchase price: Most lending institutions (and CMHC) require at least 10% cash down payment in Brampton. It’s always a good idea to have more than that if possible. The more cash you can put down, the better interest rate you’ll have, the better terms of the mortgage, and the faster you’ll pay it off (and if you put 25% down, you’ll avoid those expensive CMHC fees).
- Consider more frequent mortgage payments: Bi-weekly payments can save you thousands of dollars of interest over the length of the mortgage. It will also help pay it off faster. When you’re negotiating with your lender, try to get flexible terms that allow you to make extra payments whenever possible.
- Have a healthy ‘slush’ fund: Just as you should plan for future house needs in Brampton, you should plan for tough times – job loss, major repair and maintenance costs, etc. Try and keep at least three months’ worth of mortgage payments in this savings account, as well as money for costs like roof or furnace replacement/repair.
- Never purchase a home without a realtor: Having a licensed realtor by your side as you’re going through the buying process will help you avoid pitfalls like paying too much or buying in a bad neighborhood. Buying a home in Brampton is not the time to practice your DIY talents. Realtors in Brampton are skilled negotiators, expert marketers and experienced networkers. Use their talents to secure the perfect home for your needs. Low commission real estate agent Brampton are good choice if you’re seeking to buy in Brampton
- Always get a home inspection: A good realtor will always strongly recommend that you get a home inspection as part of the buying process. This allows you to make an informed decision about the property. For example, the inspector may alert you to a need for future furnace or roof repairs. That doesn’t mean you shouldn’t buy the property; it means you can re-negotiate the purchase price, or just plan to pay for the repairs when needed.
Detached houses for sale in Brampton is the preferred choice for many people, over semi-detached homes and townhouses. If you are looking commercial property for sale in Brampton and want to buy, pay it off in a timely manner and enjoy it for years to come, follow the tips above.