FINDING THE PERFECT HOME TAKES TIME. SOMETIMES YOU WILL KNOW EXACTLY WHAT YOU’RE AFTER OR YOU’LL JUST BE STARTING THE PROCESS AND LEARN AS YOU GO ALONG. BELOW ARE A FEW TIPS TO STREAMLINE THE PROCESS.

1. Your first step

Your first step to buying a home is to first ask yourself why you want to buy a home. Is it to start building equity? To stop paying rent and have a place of your own? To entertain business associates? To raise a family? To move up to a bigger house? Next, list what kind of home you’d like and where you would like to be. Be specific. Separate the “must haves” from the “want to have.”

2. Consider your requirements before beginning your search

Location

Where you live has an impact on your lifestyle and it’s also one of the most significant factors on the value of your home. Choice of location is sometimes limited by the price you can afford but it is still important to consider factors such as commute to work, schools, family, shopping and entertainment.

Budget

Consider how much you have to spend, and just as importantly, consider how much you want to spend. Note that purchasing a home includes numerous additional expenses above and beyond the list price. I’ll be focused on helping you keep your budget on track and advising you how much we could potentially save off the asking price.

Features

Is it important for you to have an ocean view, a private backyard or an attached garage? Would you like a fireplace, a short commute, or maybe minimal work? Once you decide which features you would like, then it’s time to prioritize the list.

Type of Home

You should consider what type of property you would like to live in. A condominium may be an appropriate choice since condos offer low-maintenance living and are generally more affordable. Alternatively, a single-family detached home is desirable to many because it typically provides more living space and land. It is important to determine what type of home best suits your budget and desired lifestyle.

3. Loan pre-qualification

Once you have addressed the above needs, your next step in the purchasing process is to get pre-qualified with a mortgage company. This can be done over the phone or even online in a matter of minutes.
Call us and we will refer you to a mortgage professional that has an excellent reputation and track record for successfully acquiring loan approval for his/her clients.

4. Searching for a home

Working with me as your Realtor I can help by using a variety of tools to identify properties that meet your requirements. One such tool is the local Board’s MLS® (Multiple Listing Service®) System. MLS can be searched for listings that best match your requirements such as location and budget. I’ll also be using my connections to learn about properties before they hit the market and I view homes every day and will have your needs in mind when viewing.

5. Viewing properties

Once you decide to visit a property, keep your requirements in mind, i.e. does it have all the features you want? does the location work for your lifestyle? Also keep some of the technical considerations in mind, such as wiring, power outlets, heating, foundation and roof maintenance, windows, plumbing etc. Home inspections can provide an assessment of the technical aspects of a property and it is a good idea to have a professional inspection performed.

6. Making an offer

When you find a property that you would like to buy, I will work with you to put together an offer. The offer will vary depending on the property type, condition, history, price you are willing to pay, expiration of the offer, closing date for the purchase. Your offer will also typically include conditions. These will be discussed with you on time of writing an offer.
Will will also need to discuss you’re deposit amount which will go along with an offer and put into our brokerage’s trust account. A deposit of appropriate value will show your good faith to the seller as well as a strategy to net you a favorable price on the home. This will be refunded to you in full if you do not satisfy yourself on the conditions of the contract.

7. Acceptance of an offer

Once an offer is accepted and all conditions are met, then the offer becomes binding on both sides. If either party then does not honour the agreement, they can be sued or the deposit lost; therefore before signing, be sure that you fully comprehend all the terms of the offer.

Before the property can formally be handed over from the seller to the buyer, a few more things must be done. You will have to show proof of insurance to the institution that provided your mortgage. On or before closing day, the lawyers from both sides will arrange to transfer the property title from the seller to the buyer. The mortgage will be transferred to your lawyer’s trust account, and then to the seller. Your lawyer will bill you all additional expenses such as land transfer taxes or outstanding legal fees. Also be sure to check with your lawyer that everything is as stated in the offer-to-purchase.
Once this is complete and the keys are in your hands, then the home is yours!