No matter who you are, if you are a home buyer you should always take care when buying a home.
If you are a younger home buyer, I think this advice is even more important because in all likelihood your first home won’t be your last. Growing families, changing jobs are very common and add up to the reality that on average you’ll only remain in your first home 4-5 years.
Almost everyone has the goal of having a dream house, you know, the one that’s perfect for entertaining and making your friends jealous! 🙂
Aside from a small percentage who can buy cash, the rest of us will get there with home equity. Just like the generation before us who started modestly, your goal is to make smart choices, build equity and move up. This is why I think young buyers need to think like home flippers, because that’s where the opportunities for growth are in Mississauga in today’s real estate market. The new build craze is pretty much done (no more land for large subdivisions) and anything being built now is priced much higher than comparable resale properties.
So if you don’t want to move even further out of the city and add to your commute time, chances are you’re looking at a resale home and this is where the choices start. Newer or older, town house or freehold, upgraded or not, as a home buyer you have plenty of choice. If this is not a forever home, regardless of what you decide, you should make your decision based on this fact.
Knowing what I know, if I was a first time home buyer I would be looking for something that needs a little work. By a little I don’t mean a gut or the need for permits, but something that might be outdated cosmetically because here’s what I do know- The majority of today’s home buyers are willing to pay more money for a home that looks good and is in top notch condition.
The majority of Home Buyers will PAY MORE for something that looks good. Need I say more?
There are tons of houses that are perfectly fine and have huge potential. A little DIY and some smart choices and you’ll on your way to creating equity that never existed. Now if you’re not that type of person that’s ok too, but if you’re game I think it’s a great way to save a little money and build equity.
And by the way, if you work with me I’m happy to provide you with a plan and guidance on the design and decor of your new home, courtesy of Style By Stephanie. It’s an offer you can’t refuse!
Looking to buy a home in Mississauga or the west GTA? Let’s talk!
