Home-buying: Riding the Wave

So … you’ve decided to move and are out house-hunting. You walk into a new listing with your agent and find your excitement mounting as you move from room to room. You begin to visualize cooking in the thoughtfully updated kitchen, curling up to enjoy movie night, with friends or family, in the warm and inviting living room, and gathering your loved ones in the space, for holidays and celebrations.

As you walk through the listing, you start mentally placing your furnishings. This home ticks many of your boxes, and your emotions are churning.

Then reality intrudes. You remember it is a strong seller’s market, and realize there may be 10 or 30 other buyers who love it as you do. Your spirits sink a little, as you wonder if you can compete. Then your competitive spirit kicks in – of course you can! Let’s write the offer!

Hang on.

Should you make an offer? Possibly. And in the current Ottawa market, you may have to make that decision quickly, to avoid losing to someone else’s preemptive offer.

Before you reach that point, and ride a wave of emotion all the way to offer signing, pause, consult your checklist and ensure the property actually meets your needs. Here are a few things to consider:

  • Is the property within your price range?
  • Does it have all or most of the features you need?
  • Does it have some of the bonus items you want?
  • How old are the principal components of the home — roof, windows/doors, flooring, furnace/AC — and what items will need replacement soon?
  • Will it need any other major repairs or upgrades?
  • What are the average monthly carrying costs of the home and how do those costs fit into your budget? (Property taxes, utilities, insurance, lawn care, snow removal, etc.)
  • Do you like the neighbourhood?
  • Does the area have the services and amenities you want (schools, churches, access to transportation, community centres, shopping, parks, recreation etc.)

Having answered these questions, you’ll be better prepared and have added confidence in moving forward, or stepping back and continuing your search.

When you are ready to buy, call or text me at (613) 853-8002 and let’s talk about home-buying in today’s market.

Need help with your next move? Call Wendy Lepore for #resultsthatmoveyou!