Home Buyer’s Tips                                                                                      

 

 

Buying a home is the largest investment most people will make in their lifetime.  The exercise is neither fast nor easy, but a little bit of knowledge will take most of the mystery out of the process.

 

Before embarking on your journey, take a moment to review the following tips.  They will assist in making the process more efficient and take some of the stress out of home buying:

 

·        Know how much you can afford.   Why waste time looking at homes that are not in your price range?

·        Determine your down payment.  This will allow you to calculate how much you need to borrow and establish a price point.

·        Get pre-approved for a mortgage. 

·        Know where you want to live.  Determine areas that best suit your needs.

·        Decide what type of home you want to buy.  There are a number of housing types available to today’s real estate consumers.  Single-family detached homes are most popular but there are also semi-detached homes, links, condominium apartments and townhomes, as well as co-ops from which to choose.  Each has different characteristics that are more or less suited to individual lifestyles.

·        Determine what you need in a home.  How many bedrooms or bathrooms do you need?  Is there enough parking for your car(s)?

·        Visit www.remax.ca.  The internet is a great starting point.  It can help you to target properties that meet your criteria and eliminate those that are unsuitable.

·        Choose a realtor.  Find an agent that you are comfortable with -- someone you can trust and who understands your needs.

·        Hire a home inspector.  Home inspections will identify any potential problems and help to save you time and money.

·        Investigate alternatives available to you.   Government incentives have been introduced to stimulate activity in housing markets across the country.  Two of the  programs that are currently available -- access to RRSPs for first-time homebuyers and the CMHC’s five per cent downpayment plan -- help make homeownership more attainable for all Canadians.