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Many purchases we make today are seamless because all it takes is tapping a card or even a phone, and we can leave the store and be on our way. Buying property is a very different story!
Real estate is much more than merely a place to live. In North America, people rely on their primary home as a long-term investment and nest egg. The process of buying a home takes time. Sometimes, a little too much.
Read on to learn about some of the most common hurdles people face when buying real estate., and how real estate technology helps overcome them.
Hidden Fees
The nightmare goes something like this. You’ve spent much time and energy getting your financial ducks in a row. But after talking with lenders and the banks, you find out there’s yet another fee that must be paid.
With the price of housing in many North American cities, the last thing you need is to find out it’s even more expensive. If this additional money had been baked into the initial price, it may feel easier to bear. But learning about a new and unexpected cost can be so disheartening that it feels most expensive.
The digital innovator Regan McGee created Nobul to solve this and amongst other hurdles plaguing the real estate industry. Nobul is a digital real estate marketplace that helps home buyers fill in their blind spots before it’s too late and the mortgage is signed so they don’t make any costly mistakes that impact them for years. As McGee explained in an interview with Toronto Life, “Nobul has come up with a streamlined process that educates users as they go, so they have a better sense of the questions they should be asking throughout the real estate journey.”
Get a real estate agent who prepares you for the entire process, including the forms you’ll need to complete and the payments you’ll need to make.
Finding an Agent
The trending real estate agent with the ad placements on public transit shelters or benches isn’t necessarily the right agent for you, even if it’s the first one you find. How can people connect with the right representative when making the biggest purchase of their life?
Nobul, for one, lets homebuyers list their budget and describe the home they’re looking for, then sit back while vetted real estate agents flood their inboxes seeking to represent them.
Homebuyers are free to compare the agents’ profiles and pick the ones whose services, fees, and experiences align best. Millennials and other first-time homebuyers may want an agent offering cash back, free services, and competitive rates.
A more seasoned homebuyer may prefer an agent whose fees are higher because they’re more experienced in closing high-end real estate deals. Whatever type of agent you need, use Nobul to connect with them. Nobul doesn’t accept payments from agents to get listed or ranked higher, so you can trust their data.
Market Fluctuations
Timing the market is always tricky. Most people don’t have the luxury of waiting around for years, hoping prices fall. Even if they did, this seldom happens!
Also, unless you’re selling in a market where real estate is high and buying where it’s low, the market can cancel itself out for sellers. For buyers, it’s not something you ever controlled.
You’ll need to conduct your own assessment of the market based on your lifestyle and budget.
There might be hurdles in the real estate market, like any other. But with the right digital technology and expert assistance, they can all be overcome.