Are You A First Time Home Buyer? Read This!

Are You A First Time Home Buyer? Read This!

Buying a home can be a daunting and overwhelming experience! There are many factors to consider, such as finding the right property, securing financing, and navigating the legal and regulatory aspects of the home buying process. It's natural to feel anxious and uncertain about making such a big decision.

One way to make the process less daunting is to educate yourself about the home buying process and familiarize yourself with the various steps and requirements involved.....or let us help answer those for you!

Another way to make the process less daunting is to seek the guidance and support of experienced professionals like The Wallington Twins as mentioned above. We can provide valuable advice and assistance throughout the home buying process, and can help you make informed decisions. 

As a buyer, you have multiple options when it comes to style of property but one of the most appealing is buying pre-sale otherwise known as "brand new"! 

This type of real estate investment can be attractive because it allows buyers/you to purchase a property at a potentially lower price than it will be worth when completed(can be 2-3 years), and also gives you the buyer the opportunity to customize the property to their preferences.

However, one major risk is that the property may not be completed on time, which can cause delays and additional costs for you. There is also the risk that the final product may not be as described or may not meet your expectations. Additionally, you may not have the opportunity to see the property in person before purchasing, which can make it difficult to assess the quality and condition of the property. You also don't have the ability to know how the strata are going to respond to any changes needed to the building as there isn't any minutes to go through.

Overall, buying presale real estate can be a potentially profitable investment, but it's important to carefully consider the potential risks and drawbacks before making a decision, especially when you are a first time buyer. 

If you're considering buying presale or selling your home please feel free to connect with us at any time if you have any questions!

after all of this being said, you may ask, if presale has all these drawbacks, what would you suggest instead?!

WE SUGGEST BUYING RESALE REAL ESTATE espcially if you are a brand new first time buyer! Buying resale real estate, or a property that is already constructed or completed, can be a good idea for a number of reasons. One major advantage of buying resale is that you can see and inspect the property in person before making a purchase. This can give you a better idea of the property's condition, quality, and features, and can help you make a more informed decision.

Another advantage of buying resale is that the property is already completed, so there is no risk of construction delays or additional costs associated with completing the property. Additionally, resale properties may have mature landscaping and established neighborhoods, which can provide a more established and desirable living environment.

Finally, buying resale can also be a more affordable option, as the property has already been constructed and the initial development costs have been incurred by the previous owner. This can make it possible to purchase a property at a lower price than a presale property.

Overall, while buying presale real estate can have its own advantages and may be suitable for some people, buying resale can provide a number of benefits, including the ability to see and inspect the property in person, the absence of construction delays and additional costs, and the potential for more affordable prices.

Make sure to follow us on all our social profiles below and feel free to connect with us at anytime for questions about buying or selling! Connect with us about selling and within 24 hours we will get back to you with a free no questions asked market appraisal for your property.

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