Whether you’re planning on buying your first home or you’ve done this before, it’s important to get a perspective on what the market is doing where you are planning to live. In Kitchener-Waterloo, what you may have been able to afford last year is different this year. With a steady increase in prices over the last 12 months as innovation and businesses continue to invest in our area, as well as an influx of out-of-towners, Kitchener-Waterloo has seen a 20% increase in home prices on average, as well as shortage of available homes to purchase.
So what to do? The best way to orient yourself is to see consider your budget and survey all properties fitting your basic criteria. Once we know your basic criteria, we can give you a summary. For example, if your budget is up to $400,000, and you require a freehold single-detached property with at least 3 bedrooms and 2 baths, then we can see whether this yields 5 property options or 100 property options. From there, we can refine.
By specifying criteria and searching for a general snapshot of homes in a way that applies to you, this allows you to adjust your expectations which may mean you can afford more than you thought, or less.
We will then narrow your hunt and begin to visit homes in person. Afterall, as great as pictures may be, you can’t really get the feel for potential or flow in a home until you step into it.