Buying a home is an exciting and rewarding process! If you are a first time home buyer, I will walk you through the process in an informed and efficient manner. I am fully committed to helping you find your dream home! My website allows you to search for current listings and receive detailed descriptions and photographs. Simply pick the homes you are interested in, and I'd be happy to arrange showings at those properties.
- Make a list of all the features you want in your new home such as number of bedrooms, bathrooms, proximity to schools, shopping and workplace.
- Be sure you can afford your home. Your
monthly housing costs should not be more than 32% of your gross monthly income
and your entire monthly debt load (which includes other debts such as car loans
and credit card payments) should not be more than 40% of your gross monthly
- Calculate your other monthly living expenses
such as food, clothing, transportation, personals and childcare to ensure you
can afford your mortgage payments.
- Call a REALTOR® in your
preferred area. They are trained professionals with knowledge about local
conditions and the housing market in general. Through the Multiple Listings
Service they have access to virtually every property listed for sale in the
province. Your REALTOR® can narrow
down your search and provide you with information on properties for sale and
those that have recently sold. This will allow you to make informed decisions
about pricing. Licensed by the province and members of local real estate
boards, REALTOR® must adhere
to high standards of ethical behavior.
- Obtain a pre-approved mortgage form the
lender of your choice. This will help you determine the price range you should
be looking in. With a pre-approved mortgage, your lender will guarantee the
interest rate for up to 90 days.
- You may wish to have an independent
appraisal done of a property before you offer a price. It can keep you from
paying more than the market value.
- Ask your REALTOR® for a copy
of the Property Condition Disclosure Statement. This document is completed by
the sellers and ensures the buyer gets complete information about the property
they are about to purchase, and alerts buyers when they need to do more
research on a property.
- If buying a new or existing condo, look
beyond style and amenities and investigate whether the construction is of good
quality. You can ask for a copy of the minutes to Strata Council Meetings to
determine what kind of problems the condominium has had in the past, and the
- To assess potential water leakage problems,
visit a condominium project immediately after a rainfall and check to see if
flat areas such as roof deck and walkways have large pools of standing water on
them. All building surfaces except specially designed ponds should drain freely
and be immediately clear of water after a rainfall.
- It is always a good idea to have the home
inspected from a professional home inspector. An inspector's written report
should include how well-built the home is and whether any repairs are necessary
and the estimated costs.
- Don't forget about other costs when you buy your own home such as legal fees (they will most likely be at least $500), property taxes and the GST (if purchasing a new home).