Dear David,

We are ready to start searching for our first home. We have watched some of our friends go through this process with varying degrees of success. Some looked for months without finding the right fit, while others seemed to find a home within days. Realistically, how long should we expect the home-buying process to take? – GETTING PREPARED

DEAR PREPARED: Buying your first home is a personal journey, and the timeline is different for everyone. I’ve seen some first-timers find the right property in a weekend, while others search for several months before their stars align. The difference usually comes down to preparation.

I do a full workup with every client before setting foot in a house. The goal is to answer five key questions: the who, what, when, where and how of real estate. 

WHO: Is it just the two of you moving, or are you planning for children, pets, parents, guests or future changes? 

WHAT: Are you looking for a detached home, semi, townhouse, condo, older home with character, or something newer and lower-maintenance? 

WHEN: Timelines make a difference. Some buyers are ready to move immediately, while others need to save more money or finish out a lease. 

WHERE: The neighbourhood, commute, and lifestyle matter when it comes to finding a home that suits your needs.

HOW: What must we do to make it happen? For first-time buyers, this is a big question that involves reviewing their down payment, mortgage pre-approval, savings, RRSPs, possible help from family members, or other elements that may be part of the home-buying plan. Once we understand the client’s position, what they need, their timeline, lifestyle goals and how the purchase will be financed, our search becomes much more focused.

So, should your search take days, or possibly months? It really depends. A well-prepared buyer can move quickly through the process when the right home appears. If a buyer is still figuring things out, they may need more time. Instead of trying to find a home quickly, focus on being ready. When the right property shows up, you can recognize it and move forward confidently.

PRO TIP: First-time buyers tend to place a lot of pressure on themselves, thinking their first home is forever. You’re not trying to find something for eternity, just for your next chapter. As a first time buyer in a buyer’s market, your ideal home is out there. Once the five key questions have been answered and you are ready to move forward, finding the right fit gets a lot easier. #Advice #AskDavid #TheNegotiator