Buyers

10 STEPS TO SMART HOME BUYING

Buying a home is no easy feat. Which is why we have decided to embark on providing our readers with as much useful information as possible. Arming yourself with knowledge of the real estate industry can not only save you a lot of money, but ease the burden and duration of the entire process. Below you will find a list of topics we are to cover over on our site. It is a table of contents of sorts to the book of information we plan to blog across this site.  Be sure to take a read, and more importantly, drop us a message if you have any further questions. Thank you.

1. The “Talk”:

Meet with us for a pre-buying consultation where we will get you prepared and knowledgeable about one of the biggest milestones you are about to take.  This will help you gain a better understanding so there are no hidden surprises.

  • What’s your motivation to buy?
  • Are you ready?
  • Buying with discipline vs. emotion

 

2. The “Reality Check”:

We’ll go through with you if it’s the right time to buy – help you build your 5-year plan.

  • Understand market conditions. Is it a Buyer’s market?
  • What is the current interest rate?
  • Can you live in your current home for another 6-12 months?
  • What are the repercussions if you decide to wait?

 

3. The “Money Cruncher”:

Now that we’ve determined your reasons for buying and that you ready to buy – let’s talk affordability.

  • What’s your budget?
  • Down payment
  • Do we need to get a pre-approval for a mortgage?
  • Mortgage
  • CMHC insurance
  • Closing costs
  • Laying out your monthly carrying costs
  • Home Insurance
  • Maintenance Fees (depending on type of property)
  • Property Taxes

 

4. The “Needs vs. Wants”:

Do your homework before you buy.  Here we breakdown what you need vs. what you want and fitting that into your budget that we just identified.

  • Differentiate between the types of home ownership
  • Do you need a condo or house?
  • Detached/Semi-Detached/Townhouse?
  • Have you considered the lifestyles between a condo and house
  • What is your bare minimum for the size of your home?

 

5. The “Spot”:

Picking the ideal location is also a key part of the home buying triple constraint. We’ll help you find the right neighbourhood with the right schools.  Do you want a shorter commute to and from work?

  • Schools and ranks
  • Public transportation and accessibility
  • Amenities

 

6. The “Hunt”:

Now that we know what you want, where you want it and how much you can spend – let’s put all this to work.  Let us help you build your portfolio of ideal properties.

 

7. The “Offer”:

Now that you’re in love, we have to move on to make that a lasting relationship.  It’s important that you don’t let your emotions get the best of you when making an offer. Real estate is an investment – fortunately, We are here to you put together an Offer to Purchase and discuss all the details.

  • Comparative Market Analysis
  • Submitting Offers
  • Negotiating deals
  • Counter Offers

 

8. The “Inspection”:

What’s the first thing you do when you buy something? Make sure it’s in working order! It’s no different for home ownership. We’ll educate you on the importance of a home inspection and ensure we get an inspection done.

 

9. The “Closer”:

No, We haven’t switched the topic to baseball – we’re still on home buying.  It’s time to seal the deal.  This is where you meet the key player in closing the deal – the lawyer.

  • What’s entailed in the closing costs
  • Mortgage application fees
  • Legal fees
  • Title Insurance
  • Registration and more

 

10. The “Move”:

It’s finally here –D-Day! You move in to your new home.  Congratulations!

  • Call the movers
  • Address change and mail forwarding
  • Yard sale
  • Donate unwanted things
  • Utilities and more

 

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