HOW TO SECURE YOUR DREAM HOME IN CALGARY’S COMPETITIVE HOUSING MARKET

Purchasing a home is an exciting moment. But if the market is competitive, it may also lead to additional stress. This is not to say that purchasers cannot find a home they truly love.

As a buyer, you want to be the seller’s pick. This is important when there are multiple offers on a listed property. In this case, you might need to take some additional steps. After that, all that remains is to enter into a contract with the seller and proceed with closing.

Here are some tips to get your dream home in a competitive market:

Have your credit or cash ready

Many houses are sold for cash in Canada. Credit-purchased ones sometimes have short mortgage terms and high down payments.

In light of this, having the money to buy the house and/or a mortgage in place for the required amount is important. It demonstrates to a seller that you are serious about the deal.

Sellers are less inclined to sign a contract with purchasers they believe are unqualified or unconcerned. They are aware that things could go wrong.

Check out listed houses immediately

Proceed to inspect houses for sale in Calgary as soon as they are posted. Any buyer who is serious about purchasing a quality home in a competitive market will want to be among the first to view the property. Remember that other buyers will be doing the same thing.

In this manner, it is possible to quickly determine whether you would be satisfied with the house or not. Some homes might not sell quickly, even in a competitive market. The cost may be excessively expensive, or there may be other reasons why many consumers choose not to buy.

Consider going above and beyond the asking price

Offering more than the asking price is one of the choices available to purchasers in a competitive market to obtain a fantastic home. It might not be necessary. However, multiple offers make it easier for the seller to make a decision.

The seller may find it easier to accept a contract from a well-qualified bidder. It is an added advantage if you make a higher offer than the asking price.

Some sellers might still wait to see if another bidder would come along and make an even higher offer. This depends on the neighborhood, the home’s price, and other considerations.

Find the best agent

You need an excellent agent to represent you when you’re looking to purchase a home in a competitive market. Have friends and relatives give you recommendations. Online reviews can also help you determine who would be a good fit, but you should always be skeptical of them.

Above all, look for an agent that specializes in Calgary. Their insider expertise can help you acquire a property quickly and successfully.

The takeaway

In a competitive market, demonstrate to the seller that you will simplify their life. They don’t want the home-selling process to go longer than necessary. Finally, having a competent realtor goes a long way. They can call the listing agent to learn what the seller values most so that you may craft a compelling offer.