How to Buy a Home in a "Hot" Area
Monday Sep 23rd, 2019Share
Is there an area you'd love to get into that's "hot"? In other words, an area where, as soon as a new home comes up for sale, buyers are clamouring to see it?
It can be intimidating to try to buy into a neighbourhood like that. On one hand, it's the type of area you'd love to call home. After all, there are good reasons why it's so popular! On the other hand, you might be discouraged by the competitiveness and prices.
If you want to live in that neighbourhood, there are a couple of things you can do that will increase your chances of success.
The first is to create a strategy. Most buyers rush to see a listing in a desirable area only when it shows up on MLS — or sometimes only when it's advertised. You'll have a better chance of getting into the neighbourhood if you are alerted the moment a property comes up for sale and you have pre-arranged financing. You’ll get to the head of the line and be ready to make a credible offer.
The second option is to consider targeting other neighbourhoods with similar characteristics. You may have long-dreamed of living in Prestigious Area A, yet there might be a Hidden Gem Area B that is just as good. Maybe it’s even better!
Ultimately, your goal is to find the home you want in a neighbourhood you like. The right strategy will get you there.
Contact us for more information.