What Buyer's should be focusing on!

Whether you are buying your first home or have had many real estate purchases there are some simple and important points that buyers need to focus directly on. So many reports focus on the Top 5 or even Top 10 items a buyer should be considering; however, that is far too large a list and will only serve to the most seasoned buyer. Here is my Top 3 list to keep things simple yet remain on target to reach your goals.

1. Realtor... You thought I was going to start with something else? Having a knowledgable experienced realtor when you trust and are comfortable with discussing personal needs and wants will go a long way in achieving your real estate needs. They will make sure you make a sound decision and will help you negotiate terms and conditions favourable to you. They can also help refer you to the professional people you will need to complete the transaction, such as a Mortgage expert, Lawyer, Home inspector, insurance agent and more. A professional realtor can be a wealth of knowledge and you can access this information without additional cost as in most cases, commissions are paid by the owners.

2. Price... Simply put all buyers should first determine their price range and a maximum spending price. If a mortgage is needed, take the time to get pre-qualified and learn about your mortgage details you are considering, such as penalties for early discharge, term, rate and your actual payment, plus any other associated costs. Meeting and discussing your mortgage with a highly-qualified expert will help you achieve long-term financial advice will benefit you for many years.

3. Goals... Yes, what are your real estate goals? So often many of my clients have no idea how long they would like to own a property or what their plan will be. Obviously, when you are younger these plans can change as your life path changes, but having some kind of general idea can help you sort through your wants versus needs. Since budget trumps all other needs, it's important to have thought about how long you may own property you will be purchasing. Some things can be added or changed at a later date, like a garage or recreation room for example but a third bedroom on the main floor may not be able to be added without going through great expense. If you're thinking long term ownership, you may want to pursue a property without a garage, but has three bedrooms. If you're thinking shorter-term ownership, perhaps two bedrooms is enough and a garage is more important. Whatever your plans, thinking in advance and discussing goals with your team of professionals will help you determine your best course of action.

if you are considering purchasing real estate, take the time to schedule a meeting with those who will be helping you with this process .

Doug Court is a professional sales associate with Re/max executives realty in Winnipeg, Manitoba, Canada

He is been an award winning salesman since 1987, and a current member of the Prestigous Re/max Hall of Fame

Doug can be reached at 204-292-9090 or e mail dougcourt@shaw.ca