To buy a home, you need to be prepared to make an informed decision. Here are some major things to consider in the process.
Define your needs and wants – make a list of the things you simply can’t live without, like the number of bedrooms and bathrooms, location, etc.
Understand market conditions – supply and demand can change from neighbourhood to neighbourhood, region to region. So, getting to know the market can help you get more for your money. We are here to help using our rich experience.
Understanding Financing
Down payment – this is usually the percentage of the total cost of a home that you’ll need to pay. The more money you put down, the more money you’ll save on monthly payments and, in the long run on interest paid
Knowing what you can afford – how much you can borrow comes down to 3 factors: your monthly mortgage payment, your down payment and the amortization period or length of time it will take to pay off the loan
Getting pre-approved – this will really help you figure out what you can spend on a home because you’ll know before you start the search. We can assist you with pre-approval by some of the major banks on the market.
Finding Your Home
Most people start off by having a neighborhood in mind but a great agent may suggest options that you may not have thought of. When viewing a property keep a lookout for things like doors and windows, facade, water leaks, etc.
Making an Offer
You have found the right place. It’s important that you don’t let your emotions get the better of you when making an offer. Real estate is an investment. We are readу to help you put together an Offer to Purchase and discuss all the details. Тhe main factors on most offers will include: price, deposit, terms (which includes financing details), conditions, specific items that are included or not with the home and the closing date. From there, you can decide to make a “firm” offer which means that you’re willing to buy the home exactly as it is. Or, you could make the offer “conditional” on things like a home inspection etc.
