How to Find the Best Deal On a New Home in Brampton?
By: John Garcia | Date Posted: August 17, 2022
Brampton is one of Canada’s fastest-growing cities, attracting people with its opportunities, diversity, and beauty. If you want to live the Toronto lifestyle but don’t like the idea of paying for a home in the city’s overpriced market, Brampton is the right choice for you! Be sure to work with experienced Brampton realtors when house-hunting and keep reading to learn more on how to find the best deal on a new home in Brampton.
New Home in Brampton
Brampton is approximately 25 miles (40 kilometers) from Toronto, near Toronto Pearson International Airport. For this reason, the infrastructure is excellent.
Numerous access routes take you quickly into the metropolitan area without much hassle—all the more reason to look at Brampton houses for sale.
You still need to consider certain aspects to get the best deal and take advantage of the best price on the market. Listed below are some of the most effective ways to find the best deals on a new home in Brampton.
Table of Contents
Decide What You Want
When you’re on a house hunt, it is essential to know what you want. Establish your target in advance, and then do your best to reach it. First, decide which neighborhood you like best and where you want to settle.
Research information about the community—from parks, shops, and schools to how close it is to your job and how public transport is in the area.
Once you decide on a neighborhood, choose which style of house you are interested in. You need to know if you want a single-story home, a condo, or a detached or semi-detached house.
You also need to decide how many rooms you want. These are important factors when it comes to price. If you have this information well established, you can start looking for your dream home.
Take Your Time
Time is your greatest enemy, but it can also be your best friend. You may not get the best deal if you’re in a hurry when buying a house. Housing prices fluctuate, and new offers are constantly appearing on the market. That’s why you need to keep an eye on out and follow the trends before making a choice.
If you aren’t pressed for time, keep searching for a while. Don’t jump at the first house that catches your eye. Always be on the lookout when a new house is listed and follow how prices evolve to stay on track!
Set a Budget
When looking for houses, you must consider how much money you’re willing to spend. That’s why you need to calculate your budget beforehand. Decide how much you are willing to pay for your future home, then subtract 10% of this amount.
That way, you’ll be looking at houses you can definitely afford, and if you fall in love with a place that is slightly over your budget, you can add the 10% you cut off.
You must also consider the additional costs that come with the price of the house. You may be spending thousands of dollars more between taxes, closing costs, and inspections. If you find a home within your initial budget, you can easily rely on the 10% to cover these extra costs.
Buy in the Offseason
When it comes to selling or buying homes, spring and summer are everyone’s favorite seasons. During this period, prices rise considerably because demand is also growing. As the housing market works on the supply and demand system, it is clear that all properties will sell at a high price during these seasons.
If you want to avoid the peak season, you can start house hunting in mid-autumn or winter. During the holiday season, houses usually sell for the cheapest. Those who sell their home during this period most likely need to sell it as soon as possible, so they are more willing to negotiate the price.
Choose a Good Realtor
A good real estate agent can save you a lot of work and get you the best deals on the market. If you decide to work with one, this could be the solution to finding your dream home at the lowest price.
But before you shake hands with a realtor, you need to know who you will be working with. You must research beforehand, ask friends and acquaintances for advice, and find the most professional person in the field.
Look at how much commission they charge. If it’s over 4%, it can considerably increase the amount you spend on your house and exceed your initial budget.
Also, look for a calm person willing to show you as many homes as possible to make an informed choice. Working with a realtor in Brampton, Ontario, is advantageous since they can negotiate for you, deal with the paperwork, or present you with offers that aren’t yet listed on the market.
Make Your Own Offer
You have to be an excellent negotiator to get the best price for a house. It’s always a good idea to offer a lower price than what the home is listed at because there’s a good chance they’ll knock something off the original price.
Even if it doesn’t come down to the amount you offer, you will still benefit from a lower price. You’ll need to know what price houses in the area are going for. That way, you can make an informed offer and get the best deal.
Consider a Fixer-Upper
Often, properties on the market have not been renovated but have great potential. They usually sell for cheaper. If you are willing to renovate yourself—meaning giving it a whitewash, changing a few hinges, or retiling the floors—then you can also look at fixer-uppers.
The advantage of unrenovated houses is that you can remodel them how you want and within your budget. In addition, you can make changes gradually, depending on how much money you have available. In this way, you can buy a house with a decent budget and transform it into the home you dream of.
Thank you for reading!