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  • Chad Eliason

3 Tips to Be Prepared as a First Time Home Owner in 2021

There's a lot to learn as a first-time home owner; the journey is both exciting and overwhelming at the same time. Plus, with the market as competitive as it is currently, it’s more important than ever to have your pre-approval in hand, so you know what your realistic budget is for your home search - and so sellers know you’re good to go with your financing!

You may find yourself feeling like there's a ton of new information that you don't quite understand, and you're not exactly sure where to start in the whole process of jumping into the Shuswap real estate market. No worries! I have the first three steps outlined for you below to help get you started on the path to successful home ownership: ⠀⠀

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STEP 1: CONNECT WITH A TRUSTED MORTGAGE BROKER⠀⠀

Talk to some professionals about your mortgage options. A mortgage broker can help you compare rates, lender fees, and loan terms. Many brokers will also be able to help you create a budget, so you can determine a realistic figure for your mortgage payments. You'll want to move forward with someone who is knowledgeable, offers exceptional customer service, and communicates efficiently.

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STEP 2: OBTAIN A MORTGAGE PRE-APPROVAL⠀

We’re seeing unprecedented mortgage rates. Your chosen mortgage broker will work on your behalf to get you pre-approved for a desirable mortgage, so you're ready to start looking for a new home. When you have your pre-approval in hand, you have confidence in knowing your finances are in order - and as long as you keep your credit factors in good standings, you should be able to successfully get a loan. As mentioned above, a pre-approval is especially critical in a competitive market, like we’ve been experiencing over the last several months.⠀⠀

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STEP 3: FIND A GREAT REALTOR®⠀⠀

Once you've established your pre-approval amount, it's time to find a great Shuswap real estate agent. They'll help provide insight into the neighbourhoods you're interested in and can assist with finding available homes within your budget. They'll work through all the legal documentation with you to put in an offer on a home you love. I’d be happy to connect you with trusted real estate professionals that will support you in your home buying journey.

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Congratulations! Once these three steps are taken care of, you're well on your way to owning your first home! I'd love to earn your business as your mortgage broker and am happy to help you learn more about the home buying process and securing a mortgage. Give me a call today at 250.804.9874.

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