It is considered one of the most important steps in a person’s life, like getting an education and settling down with a partner. But many things can go wrong when buying a home, and it’s wise to take one step at a time. Real Estate For Sale in Tobermory varies, from waterfront properties to cottages and luxury homes in the suburbs and gated communities. All Buyers have different wants and needs; here are a few things to consider when you’re looking to buy a home in Tobermory.
Buy what you need
Everybody would love to impress their friends and family with a beautiful home with a backyard view of the bay and a kitchen with the latest utilities, fittings and cabinets. Plenty of buyers are most impressed by the Georgian Bay views these homes have. Remember the objectives you set when you wanted to buy a home in Tobermory and what kind of budget you have. If your dream home does fall within that budget, find out how much it will cost to maintain it.
Why Location Matters
Location influences real estate buyers differently. Some want to be near the harbour, the shoreline, the National Park or the Golf Club. Others want easy access to the Highway or close to their workplace or kids’ schools. Location is even more important for buyers than renters because it impacts the property’s value when it comes time to sell.
When you hire a REALTOR® who specializes in Tobermory, talk to them about the comparative market analysis for each neighbourhood. Things to consider are security, traffic, industries, and zoning bylaws. The legislation significantly affects the real estate markets. Security, however, should be your top priority.
Look out for the least expensive homes in more expensive neighbourhoods and compare the state of the home with others. When it comes to reselling, if you maintained the property well or renovated it, you could reap a lot more from it than the amount you bought it.
Have your Home Inspected
Before you sign on that dotted line only to discover that the floor heaters you paid for always need repair, hire a home inspector. The inspector is the only person who will notice red flags, such as an outdated electrical or plumbing system. These systems are the core foundation of your home and are expensive to replace compared to just a creaking door. In addition, a home inspector will broaden your perspective by giving you their objective opinion in report form. If the home is in great shape, then you can move on to the next step. However, if it’s beyond repair and has a serious termite problem, you might decide to look elsewhere in Tobermory.
Think of cutting the cost
Think of a home as an investment and find out if the price is negotiable. If so, haggle it down. If you’re facing another buyer with more money, it’s time to re-think how much you want that particular home. Sometimes REALTORS® introduces multiple buyers to a property to get it to sell faster. Don’t fall into this trap and select a reputable agent from the list above to avoid paying more than you intended.
Look out for mortgage costs. Hidden costs such as transfer fees, inspection fees, legal fees, and property tax will ultimately influence your buying price and the amount you need to borrow. You don’t want the bank to repossess your home because you can’t keep up with the monthly payments, so ensure you can afford it. Visit your lending institution before you even start shopping to get pre-approved. This way, you find out exactly how much you can afford to spend on your dream home. If you have doubts before signing, take some time off and do further research about the house or ask a real estate agent questions who specializes in Tobermory before buying.
At Move Me To we would like to take away the hassles and headaches that often arise when it comes to buying and selling real estate.
Regardless of the type of property you are interested in buying, we work with all buyers that are looking for single family and residential homes, farms and acreage, luxury homes & cottages, vacant land and condominiums.
With an extensive library of real estate listings for sale across Grey Bruce, South Georgian Bay & Southwestern Ontario -- remember us when the time comes to make your next move.
This article was published on May 24th 2021 by Move Me To.