If you are a  buyer in 2021 here are some things you should know

By: Tanesse Chang-Gyles

If you are a  buyer in 2021 here are some things you should know

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Get pre approved - Have your pre approval right away interest rates are at all time low. Getting pre approved means you have locked in the low rate for 90 days

Be the first to view the property- If there is a house you really like go and see it right away. Offers are being put in before offer nights way over asking. If you get a chance to offer be the first one at the table with a short irrevocable. Condos are being sold within a few hours without offer nights. Make your home search your priority work with a agent who is determined to find you your  property.

Be prepared for a bidding- Currently there are more buyers then there are sellers . That means you will need to submit a firm offer on each property you place a offer on . No conditions of financing or home inspection. You will need to have all your financing in place and if possible try and have a pre home inspection done on the property prior to submitting your offer. 

Accept that new bench mark prices for home are being made daily- That often means paying more for a home that once was one price today and another 50k by the next week. Theres nothing worse then losing a home you really want to a few thousand dollars. Theres no need to get angry or panic you will have to keep trying until you get yourself into the market. 

Be prepared for closing cost- Make sure you know all your numbers land transfer tax ,lawyer fees, and remaining balance to make to lawyer 

If its the right time to buy a home dont wait for prices to drop- This is a risky thing to do the last thing a buyer wants to do is get priced out of a market. I have worked with clients who waited a year to make the decision and are now being faced with what they once was affordable is no longer in there price range. If you can get into the market make the jump get in. 

Buying a home is exciting but it can be stressful to, be smart, be ready, choose your agent wisely.