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Todd Talbot's Tips for First-Time Homebuyers
Oct 12, 2016, 14:48 PM
Buying your first home and feeling a little overwhelmed? HGTV's Todd Talbot is here to ease your mind and make sure that you don’t forget anything important! We are excited to be welcoming the co-host of Love It or List It Vancouver to the Edmonton Fall Home Show this October where he will share more of his real estate, design, and decor tips with audience members. Here are a few tips real estate for the first time homebuyer to hold you over until you can see Todd live at the Edmonton Fall Home Show.
Take Your Time
A home is probably one of the most expensive things that you will ever purchase in your life, so “take your time, there’s no rush” when shopping and finalizing this purchase, says Todd.
“First time homebuyers always seem to be in a bit of a panic...one of the great things about real estate is that it moves slowly. So you can take your time, do your homework, and make sure it’s the right fit,” suggests Todd.
Keep it Simple
Purchasing a home can be intimidating, especially when you don’t fully understand all of the processes.
The television host says that “It’s a lot simpler than you think it is. Just make sure that you are well informed about how the process works. Know who you need to help you along the journey - from a Realtor and mortgage broker, to a lawyer and a home inspector - there is an entire list of people that you will need.”
Todd urges first time homebuyers to dedicate some time to lining up a solid team that they are comfortable with, can trust, and can communicate with well. Building a strong team from the beginning makes everything a lot easier!
Plan for the Future
You most likely will not be calling your first home your “forever home.” It's a stepping stone towards that “forever home,” and therefore it should act as both an investment and a home.
“Think of yourself as both the landlord and the tenant,” says Todd. “Look for an opportunity to buy where you think you’re going to have the best return on your investment. Put yourself in the position where the property that you purchase now, will help you out financially three to five years down the road.”
Location over Aesthetic
“Prioritize location over how fancy the place is,” advises Todd.
You have a safer investment the closest you are to the core of the city. Yes, this does mean that the price will increase and the square footage will decrease, but the “smaller place with the downtown location will most likely increase in value faster, than a larger place in the suburbs,” said Todd.
Have Fun
“There really is nothing more fun than house hunting. Enjoy the process!” says Todd.
Todd Talbot will be bringing his real estate savvy tips, keen sense of style, and quick wit to the Edmonton Fall Home Show Main Stage, October 21 -23, 2016. Don't have tickets yet? Get 2-for-1 when you connect with us on Facebook and treat a friend or family member to the show.
OCTOBER 21-23, 2016.
Photo courtesy of HGTV Canada
Take Your Time
A home is probably one of the most expensive things that you will ever purchase in your life, so “take your time, there’s no rush” when shopping and finalizing this purchase, says Todd.
“First time homebuyers always seem to be in a bit of a panic...one of the great things about real estate is that it moves slowly. So you can take your time, do your homework, and make sure it’s the right fit,” suggests Todd.
Keep it Simple
Purchasing a home can be intimidating, especially when you don’t fully understand all of the processes.
The television host says that “It’s a lot simpler than you think it is. Just make sure that you are well informed about how the process works. Know who you need to help you along the journey - from a Realtor and mortgage broker, to a lawyer and a home inspector - there is an entire list of people that you will need.”
Todd urges first time homebuyers to dedicate some time to lining up a solid team that they are comfortable with, can trust, and can communicate with well. Building a strong team from the beginning makes everything a lot easier!
Plan for the Future
You most likely will not be calling your first home your “forever home.” It's a stepping stone towards that “forever home,” and therefore it should act as both an investment and a home.
“Think of yourself as both the landlord and the tenant,” says Todd. “Look for an opportunity to buy where you think you’re going to have the best return on your investment. Put yourself in the position where the property that you purchase now, will help you out financially three to five years down the road.”
Location over Aesthetic
“Prioritize location over how fancy the place is,” advises Todd.
You have a safer investment the closest you are to the core of the city. Yes, this does mean that the price will increase and the square footage will decrease, but the “smaller place with the downtown location will most likely increase in value faster, than a larger place in the suburbs,” said Todd.
Have Fun
“There really is nothing more fun than house hunting. Enjoy the process!” says Todd.
Todd Talbot will be bringing his real estate savvy tips, keen sense of style, and quick wit to the Edmonton Fall Home Show Main Stage, October 21 -23, 2016. Don't have tickets yet? Get 2-for-1 when you connect with us on Facebook and treat a friend or family member to the show.