Home Buyers Guide
Be prepared for the process.
EXCITING and with EASE, these are the words we want you to feel when buying your next home. With many years’ of experience, and first-hand knowledge of what it takes to buy a home, we’ve put together these 5 steps to set you up for success, and are ready to guide you along any step of the way.
Step1
Know your worth. Meet with a mortgage broker to determine what you can afford. Your downpayment typically varies from 5% - 20% depending on your financing. It’s important to know where you stand in your financial goals so you can set yourself up for success for the next steps. If it is your first time buying a home, shop around for various mortgage programs to see what is out there. First time home buyer? Check out this Incentive by the Government of Canada.
How much do you need to save?
What can you afford?
What are your financial goals versus responsibilities?
Step 2
Picture your dream home. Take the time to create a list of what you want to see in your dream home. Where do you want it to be? How close is it to your work, recreational facilities, shopping. Which neighbourhood do you like best? These are all the things that don’t come with a price, but may be priceless to you!
What are your home preferences?
What type of home do you want?
How much work do you want to put into your home?
Step 3
Meet with your Real Estate Agent. Finding the right Real Estate agent means finding someone you are comfortable with and confident in. Your agent should have your best interests at heart, be clear and concise with the details you need, and make the process easy!
Does your Real Estate agent have experience with your dream home?
Does your Real Estate agent speak your language?
Are you comfortable?
Step 4
Begin the search. Now that you know your worth and your wants, it’s time to set up viewings with your real estate agent. Your agent will review your needs and set up searches in your desired areas. They will guide you along on your search and go over the listings with you. The searches are updated frequently to include all new properties to the MLS. When you find a property you like, your agent will schedule a viewing with the listing agent/sellers. Together, you will find your dream home!
Learn what is out there.
Ask questions along the way. Communication is key!
Step 5
The closing. Your Real Estate Agent can help you place an offer which the seller will either accept, counter or reject. After an accepted offer, you’ll need to organize a home inspection and deal with any necessary repairs (the cost can be negotiated with the seller). Finalize things with your lender and then you are ready to sign off on ownership!
Does your offer reflect your dream home?
Set up your payment plan.
Celebrate!