Getting into that dreamy Montreal condo that you’ve always wanted is not an entirely uphill battle. But there will be plenty of legwork that is required on your part if you wish to complete this process expeditiously. We’ll offer some candid advice and tips here to help jump start this scenario for you.
Research Your Options
The first place that you are going to want to start is with researching your options with a Montreal condo. Of course, you really should factor in what you can afford to own, too, so that you can base your search off what your monthly budget allows. With that in mind, take advantage of online real estate listings of a Montreal condo, where you can browse the newest listings and learn about features, amenities, pricing and location.
Compare Features & Amenities
The most important parts of that new condo you are searching for include these following elements: location, price, features and amenities. Start with it in that order. Naturally, you can only afford to buy so much condo. Under this premonition, compare the best locations, features and amenities you can afford, so that you can start to derive a list of acceptable units that are worth visiting and prospecting for your future planned purchase.
Get Preapproved For A Loan
Before you get preapproved for a loan, Money Crashers offers a nice amount of advice. The two most important tips include: knowing what your credit report says and saving up the necessary cash. Generally speaking, banks want to see a 600 or higher credit score, and also typically want to see 20% cash upfront in the form of a down payment. Make sure you meet these biding requirements before you seek approval from a home lender for the best results.
Consider Using An Agent
A great way to speed up your search is to utilize the expertise of a real estate agent. Now some people shun this process because they don’t want to pay agent fees. But guess what? An agent will almost likely be representing the house (unless you find a rare for sale by owner condo), and the agent fees tendered will be the same whether or not you use an agent. So speed up the process by getting an agent on your side, too.
Make An Offer
Once you have followed the short list of steps offered here, you should be in a good position to get that perfect home. You’ll know what you can afford, what options that you can consider, and you’ll have an agent on your side and a preapproval letter in handfrom the bank. All that will be left for you to do at this point is take your time and carefully weigh a decision. Bear in mind that buying a home is the biggest purchase most people will make their entire life, so do proceed with caution.