Real Estate 101: Five Steps in Conducting a Successful Condo Search

Real Estate 101: Five Steps in Conducting a Successful Condo Search

“I still think buying a home is the best investment an individual cam make..” -John Paulson

Finding a permanent flat to live is not exactly the easiest of all endeavors. It has to have all your required needs, and peppered with some of your wants and all of these aspects must be harmonized in order for a purchase to be in order. Unfortunately, finding the perfect and ideal condo unit is not as straightforward as we would all wish it to be. More often than not, you arrive from your search tired and disappointed or else you might be overwhelmed with the choices presented. There might be one unit that suits you perfectly, but the price is rather exorbitant or there might be one you can readily afford but is severely lacking of the amenities you do need. So, with all of these to consider, how do you make sure that your condo search comes out successful? Well, here are some of the steps you can undertake:

1.) Do preliminary research beforehand

Before visiting open houses or unit viewings in high park or elsewhere, it is crucial that you do a preliminary search first as this will help you determine where you can begin your search. Additionally, it culls down your list by eliminating those that you considered but discovered are not for you. These are the items you eliminate in your list as their offers do not sit well with you. View some potential properties from your tablet, personal computer or from your phone.

2.) Go to some open houses

To help you determine what you really are looking for, on your first weekend hunting, go and see some of the open houses in the neighborhood you want to live in regardless of whether there is something great listed or not. These will enable you to identify what you are looking for, see which properties are available and get comfortable in searching for what you are going to buy. Consider what your likes and dislikes are from each other the properties you have checked.

3.) Ask your broker to keep you in the loop

Think of your broker as a proprietary database system which you will have access to. Almost all the available listings in your area are available to you if you ask your broker to keep you notified about them. So, figure out how often you want to be notified of any good prospects and how you want these conveyed (through a phone call, a text message, an email once a day). Additionally, determine how often you want them (once a week, once every day or every few days). Your broker should know what is practical and realistic for you.

4.) Remember your broker has other clients

Remember that your broker is not only catering to you. He or she has other clients as well, so he or she would not be at your beck and call should you have any pressing inquiries about real estate. This is especially true in a tight market which will compel you to catch things immediately.

5.) Continue checking online listings yourself

Remember that your broker might not be able to catch every possible listing there is in the area, so be sure to do some research yourself as well and do not completely leave this task to your broker. Look for websites with comprehensive listings in many markets, price estimates as well as pricing histories for properties. It would also be helpful if you can find a website that offers you real estate advice as well.

Photo by Ross Dunn – 8 MILlION + VIEWS!

Authored by: Pete Anderson

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