Before buying your dream home, theres a few things that you should consider...
Sort Your Finances First
Get Pre-Approved: Secure a mortgage pre-approval so you know your budget and can act quickly when you find the right property.
Understand Your Costs: Factor in not just the home price but also hidden costs like stamp duty, insurance, and ongoing maintenance.
Define Must-Haves, Nice-to-Haves, and Deal Breakers
Must-Haves: Essential features the home must include (e.g., minimum number of bedrooms, specific location, or a large backyard).
Nice-to-Haves: Features that are desirable but not essential (e.g., a pool, a home office, or modern appliances).
Deal Breakers: Non-negotiable factors that would disqualify a property (e.g., proximity to a busy road, flood-prone areas, or being too far from work or schools).
Leave Emotion Out of It(as best you can)
Stick to the Facts: While it’s easy to fall in love with a home’s aesthetics, remind yourself to evaluate the property based on your must-haves, location, and budget.
Avoid Bidding Wars: Don’t get swept up in the excitement and end up overpaying. Set a budget and be willing to walk away if the price goes beyond it.
Be Cautious of Overpaying
Know Market Values: Research comparable sales to ensure you're not paying too much.
Don’t Overextend: Avoid stretching your finances to the limit—leave some buffer for unexpected costs and future changes in your financial situation.