Real Estate Myths: Debunked
Find Your Perfect Home and Then Get Your Pre-Approval: Buying a new home is exciting, but finding your perfect home is often the most exciting part. So it is no surprise that as a home buyer, one of the first things you want to do is to drive through desired neighbourhoods looking at homes or attending open houses. But you should NOT focus your time on finding your desired home before getting pre-approved for a mortgage. Putting your pre-approval first, as many qualified real estate agents and lenders will tell you, will help your home-buying process be less stressful and go much smoother.
Even if you don't have children, buying a house in a good school district means your home will have a greater resale value. So, schools should definitely be considered during your homebuying process as they are typically a high priority on many buyers' lists of must-haves.
Buying is Better than Renting: This depends on several factors, such as your financial situation, stage in life, how long you plan on living in the home, and your future plans – just to name a few. Before you just chalk up renting as a waste of money, it's wise to crunch some numbers, compare what your costs will be buying vs. renting, and determine if the timing is right for you to rent or put down roots. The answer may surprise you!