Sunday, December 18, 2011

Adventures in House-Hunting: Let's Make A Deal!

There's a feeling you get when you enter the house where it just feels right.

After months of house-hunting, I finally found a cozy, two-bedroom bungalow nestled in an older neighbourhood. Many original owners of the post-ware era homes were moving out. An influx of young professionals, families and their dogs were moving in.

I was sold before I walked through the front door of my bungalow. No unkempt homes with bed sheet curtains on either side? Check. Close to transit? Check. Small front yard requiring little maintenance? Check.

Unfortunately, several other buyers had their eyes on this gem. After putting in my offer I found out I was in competition. I kept imagining a face-off with these anonymous buyers like Dirty Harry challenging the bad guy: "Do you feel lucky, punk?"

I went in with a solid offer, and after hours of agonizing, I finally got the call. My offer was accepted.

Then...things happen at lightning speed! You barely have time to savour the moment before you realize that was just one hurdle to overcome. There are a slew of other conditions such as getting the all clear on a house inspection and securing your financing with the bank. Until these conditions are met, you're not totally home free yet.

If all goes well, congrats! There's something about signing your name on the purchase agreement of the biggest asset you will acquire in your life. I went through a whole range of emotions when this happened...shock, disbelief, nervousness...eventually joy.

Until then, I believe, you should remove all emotion from the home-buying process.

My advice through all of the back and forth is to relax, be patient and hope for the best. If the deal falls through, it wasn't meant to be. Your heart may have been set on that home, but finding out there's a major foundation problem before you sign off will save you major frustration. Trust your instincts, use common sense, and eventually you'll find the perfect place!

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