Buyer’s Guide
Plan it.
It all starts with your financial planning. The first step in purchasing a house is to put money aside for your down payment.
If the purchase price is less than $500,000, the minimum down payment is 5%.
If the purchase price is between $500,000 and $999,999, the minimum down payment is 5% of the first $500,000, and 10% of any amount over $500,000.
If the purchase price is $1,000,000 or more, the minimum down payment is 20%.
Your next step would be to meet with a Mortgage Broker to determine what you are able to afford. We have a list of trusted mortgage brokers that we would be happy to refer you to. We highly recommend that you shop around for the best rate!
Dream it.
Once you’ve established your financial situation, it is time to start dreaming. It’s time to start answering some of these helpful questions:
What neighbourhood would you love to live in?
What style home would best suit your lifestyle?
What recreational facilities, shops or schools do you desire to be near?
Answering these questions will help you narrow down your search on your dream home. Think through these questions carefully. Sometime’s it is helpful to physically write out a needs / wants list to help you navigate what is best for you and your family.
Pursue it.
Although purchasing a new home can be very stressful, it doesn’t have to be! It is crucial that you work with a Real Estate Agent that you feel comfortable with. A REALTOR® will be able to take your budget and your needs into consideration as they start the process of searching the market for your dream home.
A REALTOR® will help you find the perfect home in your desired area by keeping you up to date with new listings and schedule viewing appointments with sellers.
Close it.
When you’ve found the perfect home, your Real Estate Agent can help you prepare your offer and guide you through the entire negotiation process. Once a price is accepted by the seller, you’ll be required to conduct a home inspection and deal with any of the repairs discovered. You will then visit your lender to finalize your mortgage and sign off on all ownership documents.
At this point I’ll be calling you to say, “congratulations!” I’ll be sure to visit your new house once you’ve settled in and bring you a house warming gift! You are official a new homeowner! Owning a home is one of the most exciting experiences you’ll ever have! My desire is to make sure that your entire process of purchasing a new house is a stress-free and exciting one!
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