We are just starting to look for a property to buy. Do you think we could find one and be in it for Christmas?

New Buyer

Dear New Buyer,

First off, now is a great time to look for a house to buy as it’s starting to get cooler. Seller traffic has also increased with the start of schools and sellers who’ve had their homes on the long, hot summer market are weary of trying to sell their homes and more willing to be negotiable on the price. In order to be a homeowner by Christmas, see the following suggestions:

1. Get preapproved. Your lender will give you a price limit that you can comfortably afford based on your income and debts. These are time-tested formulas that allow some wiggle room in your finances so you won’t be house-rich but cash-poor.

2. Shop for the right size, not the biggest. Buying the biggest home you can isn’t the best idea. Think about the operating costs of heating, cooling and maintaining all that space. This is money wasted that could be spent on other things you may need such as a new car or furniture.

3. Think about your activities. Think about how you actually use a home. A home with a huge impressive kitchen is a poor investment if you don’t cook much, except at Christmas. Do you have the space you need for your home office or art studio? Are there enough bathrooms for the morning rush?

4. Consider the commute. Homes at either end of the Island offer more value for money but are further from Hamilton. How long would you spend commuting to your job every day, or driving to after-school activities?

5. Look at the bones of the home. Appliances, wall colours and flooring can easily be updated, but the basic floor plan has to flow well for the way you live. Look at the traffic flow. Is it easy to let the dog outside and clean muddy paws when he comes back in? Where do the kids put their backpacks when they come home from school?

6. Be willing to update. Many homes are affordable because they’re older and need work. Many times, cosmetic updates can turn a so-so home into a treasure. If you are unsure of how much work is required hire a structural surveyor.

7. Be sure to get year-round amenities. Remember what you enjoy doing in the fall, winter, spring and summer. The home you want to buy now should make you happy for the cooler months, but what about warm weather? Will you be able to garden, swim, or entertain outdoors? Sometimes the best time to buy a home with a pool is in the fall and winter; a time when everyone is looking for a fireplace.

When you’re comparing homes think about your wish list and which home comes closest to meeting your price, number of bedrooms, condition, space, features and the amenities of the neighbourhood. Most buyers look at about ten homes (sometimes more) before making a decision. The negotiating, legal and banking procedures usually take six to eight weeks, which means if you secure a house within the next month or so, you could very well be celebrating the holidays in your new home.

Happy House Hunting!

•Heather Chilvers is among Coldwell Banker Bermuda Realty’s leading sales representatives. She has been working in real estate for 25 years. If you have a question for Heather, please contact her at hchilvers@brcl.bm or 332-1793. All questions will be treated confidentially.