Hear from the Experts – First Time home Buyers Tips

Hear from the Experts – First Time home Buyers Tips

I had the pleasure of sitting down with Realty Expert Kendall Ayres of Sutton Seafair Realty and picked her brain about what First Time Home Buyers should anticipate when purchasing a home. Here is our conversation. Read, share and learn.

What should a first time home buyer expect from the buying process?

:Expect that it could take some time to find the right home for you. Making the decision to begin the home finding process for the first time is a very big step. Sometimes it takes months to find the perfect home and a first time home buyer should be aware of this heading into the process. You never want to rush into purchasing a home that isn’t quite right for you.
How does the client benefit from using an Agent?
:A real estate agent acts as your consultant, negotiator and oversee’s all of your contractual details. There are so many details involved in purchasing a home. Working with an agent can relieve a lot of stress and can also save you time and money!
What closing costs should be expected?
:There are lots of possible closing costs to consider before entering into the buying experience such as property transfer tax (find out if you’re eligible for a grant), conveyancing fees, survey certificate (if required), property tax, building inspection, strata fees (if applicable), and HST (if applicable) are just to name a few. This is a conversation a first time home buyer would want to have with their agent before beginning the buying process so that there are no surprise costs along the way.
What do you find scares first time home buyers the most about the buying process?

:Maybe that the process could be overwhelming? Or maybe their anxious about finding the right agent to work with. It’s very important to choose an agent that you trust, has your better interest in mind, not theirs, and someone who you can relate to and develop a relationship with.

Any saving tips?
:Yes there are some tips to saving money! Ask your mortgage broker and real estate agent how they can help save you money.
Where do you see first time homebuyers looking for their first homes?
: This is a tough question to answer as every first time home buyer has a different scenario and set of needs, but I’d say on a whole they are looking at condos and townhomes.
What are some of the most common misconceptions first time homebuyers have?
: I’d say that the biggest misconception that a first time home buyer has is that they can’t afford to get into the market. You really don’t know what you can afford until you’ve spoken with your mortgage broker, so I’d suggest making that your first step.
What should First time home buyers be looking for when buying there first property ie, land value, desirable neighborhood?
:Until your real estate agent fully understands your motivation for purchasing a home, it’s tough to say as everyone has different needs and desires when looking for the perfect home. What I mean by this is it your intention to flip this property? Is it important to be close to a certain school? Are you looking for a quiet property? Or do you want to be able to walk to get your groceries and your coffee? These are all factors (and there are many more) that help determine where and what is the best home for you. This is part of having great communication and trust with your real estate agent.
What questions do you get most often from First time home buyers?
: A popular questions is “Is it a good time to buy?” And what I like to  do here is sit down with the buyer and talk about what’s important to them about where and what they want to buy so we can start to keep an eye on their desired area. This way we can be well informed and prepared when the time comes to write an offer on a great property.
To find out more information or to contact Kendall for help selling or buying you can reach her at:
Kendall Ayres
(604) 250-6981

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