Happy New Year! Set yourself up for success this year.

Happy New Year! You know how difficult the past year was for buyers if you spent 2021 searching for the perfect home, or simply keeping an eye on the market. It's easy to believe that nothing will change and that we'll have to repeat the mistakes of the past. It's difficult to predict what will happen without a crystal ball, but the optimist in my heart believes that things will improve. As we set our 2022 resolutions, there are many things we can do that will help us prepare for a successful year on the real estate market.

Remember that the market may look very different in the spring. The Ontario market operates seasonally. This means that inventory is typically limited in winter but can be very different in spring. The pandemic has made it a bit more difficult to predict the future. It is possible that we will not see an inventory level as normal for a while. It is important to remember, however, that just because the past few months were a certain way does not mean the next few months will be the same. Keep your chin up! Change could be just around the corner!

This is the perfect time to get into research mode and speak to your realtor to discuss your goals. You have a better chance of succeeding tomorrow if you put in more effort today. You can rely on the expertise of a realtor to assist you in your preparations. Your realtor should set you up to search for the criteria you are looking for. Be flexible. You don't have to offer yet, but it's a great opportunity to search the market and see what you find. Your realtor should keep an eye out for properties that appeal to you and their selling prices so you can get a better idea of the market and inventory levels before you make your first offer in 2022.

If possible, make sure you communicate with a trusted broker to help you get pre-approved for mortgages. Your mortgage pre-approval only holds for a limited time. A pre-approval does not guarantee a mortgage. It will let you know how much you can afford, and give you greater negotiating power. You should also ask your realtor about any hidden costs that may be required to budget for when it comes down to finances. Closing costs can add up quickly so make sure you know what they could look like before you start to save. These conversations will help you avoid unpleasant surprises later.

As we enter the new year, let's take a deep breath, breathe in, and believe. You can succeed in the market if you are prepared. You can succeed in the market if you have the right conversations, set realistic goals and are attentive to what is happening around you. Timing is crucial. The more proactive you are, the better you'll be able to react when it is time. Here's to a prosperous new year!