Date the Rate, Marry The Home
Have you heard the saying...
... Date the Rate, Marry the Home?
If you're a buyer and there's a home on the market, you know what you're worried about.
Higher interest rates are waiting for the market to hit bottom?
Well, there is a solution out there!
There are many lenders currently offering a three-year fixed rate with less than 20% down under 5%, which is currently lower than what's being offered at the variable rate.
Then when you're through, your fixed term is over, you can renew your fixed or variable rate that was predicted to be lower than what we're seeing today.
If this interests you please contact myself or the Hamre Real Estate Team at RE/MAX Affiliates here in Ottawa.
This is Jacob with the Hamre Team and we hope to talk to you soon!
5 Tips For Home Buyers
Are you thinking about buying your first home or need a refresher on the process? The Hamre Real Estate Team RE/MAX Affiliates would love to help guide you through the process. Here are five tips for navigating the home buying process.
1. Talk To Mortgage Brokers
Many first-time homebuyers don’t take the time to get prequalified. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home loan process completely.
We have multiple mortgage brokers that we work with and can set you up with someone to help get the process started.
2. Be Ready To Move
This is especially true in markets with a low inventory of homes for sale. It’s very common for homebuyers to miss out on the first home they wish to purchase because they don’t act quickly enough. By the time they’ve made their decision, they may find that someone else has already purchased the house. Acting fast could mean finding your dream home.
3. Make A Good Offer
Remember that your offer is very unlikely to be the only one on the table. Do what you can to ensure it’s appealing to a seller. This could mean choosing a closing date that works for the seller. Leaving out certain conditions that are not must-haves to you.
4. Think About Maintenance Costs
Factor maintenance and repair costs into your buying budget. Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate. You'll also need to consider the cost of lawn maintenance or the occasional fix like a plumbing or heating malfunction.
5. Find A Trusted Partner
It’s absolutely vital that you find a real estate professional who understands your goals and who is ready and able to guide you through the home buying process. Choosing a professional who is ready to negotiate on your behalf could be the difference between winning or losing on the home of your dreams.
The Hamre Real Estate Team at RE/MAX Affiliates in Ottawa pride themselves on helping homebuyers achieve their dreams. To get started please reach out via the contact form below!