This question doesn’t come up enough and we have a straight answer; consult your friends with the money first! It’s like going shopping for a car without knowing what your budget is – there are always amazing products on the market that aren’t always affordable which sets expectations for the rest of the search. (I know, it’s a little harsh, but it will save you the heartache when you’re in the market!)
Home buying requires time and a calculated approach. Not only do we value our time when it comes to showing homes, we also value the time spent in the market where opportunities come and go within days and if you’re not ready with a budget, you’ll get beat by the market.
Mortgage brokers can secure a rate and an amount for you, for 90-120 days which gives you enough time find a home. Mortgage brokers are also able to narrow down to how much your maintenance fee should be which gives us (as your realtors) a very specific filter of what you should be looking at. This makes the process a lot easier on you as the buyer because you’re actually able to narrow down properties to what you can actually afford and then assess the bells and whistles from that list!
Our opinion, get your pre-approval in place first!
Happy Shopping! 🤓