Did you know that 77% of first-time homebuyers fall into the Millennials group? If you fall into this category and are looking for some advice or insight into the market, here are the top 5 tips I have to offer first-time homebuyers.
TIP #1: Get Ahead of the Game!
Spring is one of the highest seasons for Real Estate, so if you’re thinking of moving in the spring the best times to start looking for your next home or thinking about putting your property on the market is the month of March. Making your house hunt a priority will increase your chances of finding the right home without the crazy bidding war.
As a millennial, it may be difficult to be taken seriously by sellers. The best way to nip this in the butt is to get pre-approved for a mortgage. Getting pre-approved will mark you as a serious buyer and also reduce the time it will take for you to purchase and obtain the keys to the property you are interested in.
Individuals that fall under the Millennial and late Generation X group are known today as minimalist and more likely to live a car-free lifestyle. If this is the case, think about moving somewhere that offers easy access to multiple methods of transportation or is close enough to everything you need by foot or a short bike ride.
Real Estate is the most lucrative industry that you can ever invest your money in, so keep an open mind and think about what you can afford. With today’s hot market, it is almost impossible to find a decent home within the GTA for less than a million dollars. Consider moving out of town to a neighboring community that is on the rise, commute may be longer but your wallet will thank you in the long run.
Today’s society is digitally dominated, this means the best places for you to look for your next home is not just through a Realtor or newspaper. Make sure you cover all of you bases, google, and social media can be your best friend through this stressful process. However, keep in mind that is still advised to work with a Real Estate professional, they have access to networks and databases that you won’t be able to gain access to through simple online search.
Need more tips? Leave your topic suggestions below or contact me directly for some advice or insights on today’s extremely hot market!
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The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.
Information is deemed reliable but is not guaranteed accurate by TREB.
Toronto Real Estate Board - IDX Last Updated: 11/15/2018 1:14:59 PM