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15 Dartmouth Road Suite 15
Bedford, Nova Scotia
B4A 3X6 902 - 835 - 2000
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What would you recommend as the best first step in home buying?
Before you start looking at homes for sale, be sure you do some "homework." Here are some of the questions for which you'll need answers:
- Check out interest rates.
What are current mortgage interest rates?
- Shop for the best loan.
Which type of loan is best for you? Will you be in the house several years and benefit most from a long-term fixed rate, or do you want a lower, short-term rate because you plan to move soon or expect your income to increase rapidly over the next few years? Should the mortgage be an “open” or “closed” loan?
- Get pre-approved for a mortgage so you’ll know how much you can afford.
How much of a mortgage can you qualify for? The loan amount plus your down payment tells you how much house you can afford, and you should be pre-approved for a mortgage before setting out on your house hunting venture.
- Investigate neighborhood prices.
What neighborhoods feature homes in your price range?
- Separate needs from wants.
What are your priorities for your next home? How important are public transportation, community facilities, parking, lot size, privacy? How many bedrooms and baths will you need? Will you need a space for a home office? How important is it to be close to schools
Chances are you can answer a couple of these questions on your own, but you may need some assistance with the others. If you do, please call or e-mail us. We can make sure you have the preliminary house-hunting information you need.
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