How to Buy a Home in Your Twenties
Helpful tip for buying your first home in Ottawa from Ottawa Real Estate Agent Joanne Martin.
Ottawa real estate agent recommend starting early these days as it it possible to own younger than you think! It may look impossible since most individuals at this time normally are either on their first or second jobs or have just graduated from university and are thinking what next. At this time one may not be in a position to even think about buying a house as they are still trying to fit and make sense of the new responsibilities that come with the age bracket. However, research has shown that it is actually very much possible for one to own a home in their twenties. Most individuals tend to wait until they are married, stable in their jobs or have a better idea where they would like to live.
It reaches a point where one gets offended by having landlords who are not respectful, not being able to change the house colour or Hammer a single nail into ‘one’s wall’ since the contract does not allow it and at times once the contract has expired one is forced to actually vacate. Hence, being in such a situation may become very much difficult and annoying over time.
Listed below are some ways in which one can easily save up money that may help them buy a house in their twenties.
- Know Where You Want To Live
When it comes to picking a place to live permanently Ottawa real estate agents recommends being very firm on the place that they choose to live. This is because the place that one lives tends to influence their motivation to actually save up and commit to it. In addition, one needs to now know how much they can afford to learn and live within their means debt free.
- Shore Up Your Credit
By this it means that one need to register for a credit card in the vent that they don’t have one. Once they’ve been able to open the credit card, they can then try to pay off the amount due on time every month as well as maintain a balance of 30% or below one’s credit limit so that they may boost their credit score. This in return helps one be able to get a mortgage approved.
- Aggressively Save For 6-12 Months
If one is deciding to own a home then they must save and not only save on money but also cut back on few expenses for a certain period. This is because one after applying for the mortgage may end up needing to pay for the down payment which is key. This is one of the most important steps one could take in the process of owning a home.
- Don’t Buy a House One Cannot Afford
At this age bracket one normally has a low salary and a couple of student loans to pay back hence, the need for them to actually live within their means. One needs to think of the mortgage, fees, insurance, taxes as well as the maintenance of a low budget while assessing one’s expenses. In addition one need not use up all the money given as they may as well look for something cheaper yet affordable and end up saving money in the process. Owning a house is a smart idea but it may be expensive if an individual is not well-prepared.
If you are ready to purchase your first home contact Ottawa real estate agent Joanne Martin from House Curious Ottawa to find the perfect home for you!
How to Prepare for a Home Inspection
When a Seller gets a pre-listing home inspection OR a Home owner requires a periodic home inspection, they need to get their homes prepared for the home inspector so that the inspection is conducted in an optimal fashion.
The following recommendations from House Curious will help the seller/owner prepare for the home inspection in advance:
- Remove clutter so that the home inspector has visual access to as many areas as possible.
- Be on time to the inspection so that you can fully participate in all aspects of the investigation.
- Have the home exterior ready for inspection as the inspector may start examining the outer area of the home if you are not ready. This includes leaving fences unlocked and dogs tied up.
- The home inspector should be informed of the occupants of the home, especially any children or elderly people.
- To the extent possible, pets should be removed from the property to allow full access to all areas that are to be inspected.
- Closets need to be cleared if they provide access to the attic.
- Keep all utilities connected – The home inspector will have to check the stove, test the furnace and test the air conditioner. It is gооd to lеаvе thе utilities оn, so that the inspector can assess their functionality.
- Provide a work area around Furnace and Water Heaters for the inspector.
- Many home inspectors may not check the pilot lights if they are not lit. It is a good idea to keep them on before the inspection process starts.
- Ensure easy access to the garage and try to minimize overcrowding in this area.
- The garage and electrical boxes should be kept open or have keys attached for ease of use.
- Give ample time for the home inspector to conduct the inspection. Between 2-4 hours is typical.
- If you are aware of potential concerns, raise them immediately when the inspector arrives.
During the inspection, note аnу quеѕtіоnѕ thаt mау аrіѕе durіng the walk-through. Every home inspection will uncover a few flaws in your property. Discuss the problem areas, understand the urgency, and gain an estimate of the repair costs. You can then estimate the repair costs and handle each issue accordingly. It helps in the long run as repair costs spent annually drastically reduces with regular inspection.
A good preparation for the home inspection is beneficial to all involved. After all, a comprehensive report is facilitated by your active preparation…