Buying a home, particularly if it’s your first home, can seem like an overwhelming task. There are many online resources to view homes for sale but they do not give you the other tools required to successfully purchase a home at the terms and conditions which work best for you. There are many things to consider like home inspections, mortgage financing, lawyers, market history and the value of a home that I can help you with. I have helped hundreds of home Buyers over the years and would be happy to set up a confidential appointment to discuss your home buying needs.
Here are a few things to consider when buying a home.
...where do I start?
- First you need to establish what you can afford.
- What about a down payment? How much do I need?
- What other costs are involved in buying a home?
- How will you know what I'm really looking for in a home?
- When I see a home I like, how do I know how much I should offer?
- Will I need a home inspection?
- Are there other issues that I should know about?
- What if I need other services?
First thing’s first……..
You need to talk to your bank or a mortgage broker BEFORE you start looking and obtain a pre-approved mortgage. If you haven't already done this, I can put you in touch with some of the best people in the business. They'll help you through the entire process and have you pre-approved in no time.
There's a really big advantage to getting pre-approved.
You'll be in a stronger position when it comes to making an offer on a home, and by talking to your lender in advance, you know exactly what interest rate you'll be paying (most lenders will be able to lock you in at a guaranteed rate for 90 days)… When you know exactly what your payments on your new home will be, at the price you are offering, that's peace of mind!
For more information about mortgages, take a look at All About Mortgages.
What about a down payment? How much do I need?
It depends on the price of the home you’re buying. You can buy a home with 5% down payment but the more money you have to put as a down payment the better. In some cases you can also borrow or use your RRSPs for a down payment to buy a home.
What other costs are involved in buying a home?
In addition to your down payment you will also need money for legal fees, land transfer tax, moving costs, and some other smaller items. These costs may vary depending on the home that you purchase. I can help you figure out how much you'll need to budget for so there are no surprises later on.
How will you know what I'm really looking for in a home?
Simple, by asking you what you want. The very best way for us to connect is by meeting in person and discussing your needs. I am committed to investing time to meet you and listen carefully to your requests. To help that process, I have developed a comprehensive buyer's checklist of items that we can review to make sure that you have considered all of the important items, like community services, schools, transportation, as well as the features of the home itself.
When I see a home I like, how do I know how much I should offer?
Making an offer on a home you really want can be a nerve wracking experience. You don't want to pay too much but on the other hand you don't want to risk losing to another purchaser who may offer more. When you're working with a professional realtor, you've got a lot of experience and knowledge on your side. I am there to represent you and give you the calm, objective advice you need. I have a wealth of information about the selling price of homes on the market, in the area, maybe even the home right next door, and will negotiate skillfully on your behalf. Only you can make the decision, but I can provide you with facts about the market so that you can feel comfortable knowing that you are making an informed decision.
Will I need a home inspection?
It is definitely worth while to ensure your peace of mind. I can recommend companies that have the integrity to perform a diligent inspection and provide you with a thorough report on the physical condition of the property that you are buying. I will also be present throughout the inspection to answer your concerns and questions.
Are there other issues that I should know about?
I will pay attention to all the details, big or small. All major issues, like items to be included in the sale, closing and possession date, and an opportunity to revisit the home before closing, will all be part of the offer itself so that no misunderstandings can arise.
What if I need other services?
I have a list of proven professionals in all kinds of fields: legal, insurance, moving, decorating and so on, that I would be happy to share with you. My goal is to give you the best possible service I can and to have you as a customer for life.