When it comes to buying a home, there are certain guidelines that you should follow to make sure a successful and stress-free experience takes place. Knowing the do's and don'ts can help you avoid costly mistakes and make the most of your investment. Here are some important points to keep in mind.

DO's: 

- Take a thorough look at your options, taking a thorough look at your options in real estate can have several advantages. It will allow you to make an informed decision based on your needs, preferences and long-term goals. It will also provide you a better understanding of the current real estate market and trends which can help the risk of you feeling as if you've made a bad investment.

- Get pre-approved before you begin searching, the biggest advantage for a pre-approval in my opinion is that it can help you determine the price range of homes you can afford, which saves time by focusing your search on properties that actually fit your budget. In a market like we are currently experiencing in Calgary which is a strong seller's market, you need to move quick and offers without a pre-approval will most likely not be considered.

- Know your must-haves and deal-breakers, knowing your must-haves and deal-breakers in a home is essential when searching for a new place to live. By identifying these factors, you can narrow down your search and find a home that meets your needs and preferences.

- Find a realtor you feel comfortable with, finding a realtor you feel comfortable with can make the home buying or selling experience smoother and more enjoyable. When you feel comfortable with your realtor, you can trust that they have your best interests in mind, it makes communication easier and more effective, allowing you to ask questions and provide feedback without hesitation. Realistically, buying or selling a home can be stressful, but a realtor you feel comfortable with can provide emotional support and guidance throughout the process.

- Get to know the area you're looking to buy in, this is important for various reasons. First off, you can identify potential issues and concerns that may affect the property value or your enjoyment of the home as well as the crime rate and overall safety of the neighbourhood. It can also help you understand the local real estate market and property values as well as the quality of schools, healthcare facilities, other amenities in the area and overall sense of the community and it's culture.

DONT'S:

- Don't ignore the extra costs of renovations, this can lead to unexpected financial burden and stress. Renovations can be expensive and time-consuming, and failing to account for these costs can throw off your budget and delay moving in.

-Don't look at options outside your price range, it's important to stick to your budget and only consider homes that are within your price range to ensure that you can comfortably make your monthly payments and avoid future financial stress. This can also cause you to have unrealistic expectations of what your home can actually be and be a set up for disapointment. 

-Don't skip conducting a home inspection, skipping a home inspection could lead to costly repairs down the road, which could have been avoided with a proper inspection. It's always better to be safe than sorry when it comes to such a significant investment.

-Don't be afraid to ask your realtor questions, we are a valuable resource of information about the home buying or selling process. Not asking questions could lead to misunderstandings or missed opportunities. Clear communication with your realtor can help ensure that you make informed decisions and have a successful transaction.

-Don't forget to factor in your future plans, considering your long-term future plans can help ensure that your home remains a sound investment.

There are several do's and dont's to keep in mind, by following these guidelines, you can make a smart and informed decision when it comes to buying your new home.

If you're in Alberta, you've likely just received your 2023 property tax assessment. As an addition to reminding you that it is almost tax season, it's probably made you think of the value of your home. 

Many people get hung up on the thought that the property tax assessment number is what they would sell their home for in the current market. However, this is often not the case.

A property tax assessment is the value assigned to a property for the purpose of determining the amount of taxes owed. This is not always the case but it is often lower than the market value of a property. The market value of a property is the estimated price a property would sell to a reasonable buyer in the open market.

Remember, in Calgary, property tax assessments are conducted on July 1st of the year prior and market value can change over time due to various factors such as economic conditions, local real estate trends, and individual property renovations or upgrades. The timeline between when the property assessment was conducted to when it was received by you alone could make your property tax assessment and market value number differentiate.