Ready to buy your first home in Saint John, Rothesay, or the surrounding areas in 2023? The Ellis Realty Team specializes in helping first-time home buyers like you find their dream property in New Brunswick!
Before you start searching for homes online, it’s important to take the first step to house shopping: this means getting pre-approved for a mortgage.
Your pre-approval will tell you what you can afford and what your monthly payment will be, so it’s important to determine this before you start searching for your new home. This will also be the first step in determining what types of homes we go see, or that we send you when they hit the market.
Pre-approval is good for about 30-120 days, depending on the mortgage lender you go with, so once you’re ready, take these first 3 steps to get it done and locked in at the current rate.
- Contact our team, and we’ll send over a list of lenders we know and trust.
- Look over the list, check out online reviews, and ask friends and family for referrals.
- Email 2-3 lenders you like or let us introduce you over email.
Once you’ve got your pre-approval letter in hand, it’s time to start the search!
Before we hop into the home search, we like to advise our clients to create a “Needs” list and a “Wants” list. This will help us to really focus on the things that are most important in your future home.
Needs are the non-negotiable features; the features you simply must have in your next home. Wants are the ones you’d like to have, but you can add or change down the road. Remember, you can’t change the lot or the location so make sure you love both!
Once you’ve established what you’re looking for, we will set you up on a search so you can receive an email the second a home that fits your criteria goes live. If you have any questions about a property, send us the information and we will find out for you. Send us listings you like and we can get more information and set up showings on your behalf.
After touring houses and choosing the one you love, it’s time to make an offer. If your offer is accepted, you’ll hear from our transaction coordinator 3who will help you walk through your conditional period. This is the period you have to get your conditions such as financing, insurance, inspections, etc. You will also need to prepare your deposit which is typically 5% in New Brunswick.
Have any more questions about buying a home in 2023 or what happens after making an offer? Reach out to us and we’ll help you get started!