Print this page

5 Tips To Find Your Dream House

Written by Posted On Friday, 26 July 2019 14:12
Gino Cipriano of Royal LePage Prime Gino Cipriano of Royal LePage Prime

Would you believe me if I said buying a house doesn't have to stressful? Well, it's true! The key to that stress-free experience is preparation! The more prepared and the more research you do before looking at houses, the less stressful the whole process will. To jump start your research Gino Cipriano, who is a relator for Royal LePage Prime and was rated as one of the best in Winnipeg by Three Best Rated®, of Royal LePage Prime, shares his 5 tips to buying your dream house.

1. Caveat Emptor

 

A.K.A Buyer beware! Gino states, “This can't be stressed enough when buying a home, especially if it's a resale home.” After you buy a home, you're responsible for everything about the home. If the roof breaks or the plumbing fails, you have to fix it! The point of this isn't to scare anyone into never buying a home, but rather to have homeowners start thinking about things they can do to lower their risks. “Hiring a professional home inspector, licensed electrician, structural engineer, or as the seller, for a seller's property condition statement,” Gino says, “These are just a few things that minimize risk for a buyer.” The cost of an inspector will instantly pay for itself if they discover an issue before you close. This gives you an opportunity to negotiate a lower price or have homeowner take care of the issue ahead of time. If you choose the second option make sure to get receipts (and save them) to prove the work was done. Even if the inspector doesn’t find anything it isn’t wasted money. After all, your peace of mind is worth more than you realize.

2. Ask for a Referral Then Research

“Whether it's for a home inspector, realtor, lawyer, mortgage broker or whomever you require to assist you along the way,” Gino states. You should ask family member, friends, or colleagues for recommendations, but that can often become overwhelming. You should research for yourself to vet these potential professionals. You can look at online reviews, social media, even interview them. If you are anything like me, interviewing a professional might feel disrespectful but it's not! Any contractor worth their salt are happy to sooth your concerns and show off their knowledge. They want you to feel comfortable with hiring them too! Ranking websites, such as Three Best Rated, are an excellent tool to find the best professionals.

3. What's the Compromise?

Between your market, budget, and expectations, there's always going to be a compromise. Gino likes to tell his clients to make two list - “Wants” and “Needs”. It can be hard to see the big picture and be realistic when looking at all the different options homes can have. “This is where the list comes in,” Gino explains, “Generally the “Needs” list turns into the “Must Haves” and the “Wants” list turns into the “I Can Live Without” list.” Be sure to have realistic expectations!

 

For example my lists would look like this:
WantsNeeds
Close to Work Open Kitchen
2-stories Great School
Big Backyard Place for Garden
Porch 3 Bedooms
Half-bath for Guest 2 Bathrooms
Garage -

 

My wants list will go out of the window if I find everything on my needs list in my price range. however, if the housedoesn't check my needs lists, I know I would be miserable.

Your list can be as big or as small as you want it to be. Just be careful about your needs list getting too large. You should make your list and return to it a couple times and make adjustments as needed for a couple days after you create your list.

4. Location, Location, Location

 

Different areas with different supplies and demands can yield much different homes. An older, more established subdivision can have homes that require several thousand dollars in repairs, whereas a new subdivision can have a brand new home under warranty. “We always recommend our clients... view homes in multiple locations,” Gino says. You never know if that perfect house is waiting for you in a place you never thought to look. However, if you know you don’t want to live in a certain neighborhood, it’s better to not look there.

 

For example, my SO would hate living outside the city. If we looked outside of the city and found the perfect house, after a couple of years he would hate it (and I would always compare every house to the perfect house)! However, different neighborhoods within the city is fair game.

5. Look at the Monthly Payments when Negotiating

 

Once you get your pre-approval and determine the “comfortable” zone for your monthly payments would be, don't forget to actually look at that when buying a house! “We've had clients before and [have heard] horror stories... about buyers losing home over minuscule amounts,” Gino says. On the flip side, your perfect home may be $10,000 out of your budget, but may not increase your monthly payments drastically allowing you to purchase it!

 

Typically people live in their houses for a long time and so it’s important to find one that you like! I can say from experience your living arrangement affects your mental health (that’s another story for another day), so the more you can reduce your risk and prepare the happier you will be in the end!

Rate this item
(0 votes)
Eileen Shone

https://threebestrated.com/

Latest from Eileen Shone

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries