Choosing to buy a home is one of the biggest decisions you’ll make in your life. It’s a complex ordeal that requires planning and instating the help of a knowledgeable REALTOR® to make the process run smoothly. To ready you for this, here is a general overview of what to expect and prepare.
Acquire a Mortgage Pre-Approval
The first thing you’ll need to do is to meet with a reputable mortgage broker or lender to acquire a mortgage pre-approval and determine your purchasing parameters.
Visualize Your Dream Home
Once you’ve acquired a mortgage pre-approval and established a price range, it’s time to decide what type of home will best suit your lifestyle. Think about things like access to schools, recreational facilities, what the neighbourhood is like, and so on. Why you’re choosing to buy should help answer these questions for you — so think about it carefully. You may want to put this down in writing and create a needs v/s wants list.
Meet With a REALTOR®
A REALTOR® can help you find your dream home, that meets both your needs and your budget. They will set you up with viewing appointments, and also help bring clarity to the complex process of buying a home. You’ll want to go with an experienced and knowledgeable REALTOR® who you can be sure will represent your best interests.
The Search
Using the property search on this site and consulting with your REALTOR®, you will be able to find homes in your desired area. They’ll update you frequently regarding new listings and schedule you appointments to view homes.
Offers and Closing
Once you find a home you like, your REALTOR® can help you place and negotiate an offer that the seller will either accept, counter, or reject. Once an offer is accepted and terms agreed upon, a home inspection can be performed if the contract allows, along with satisfying or waiving other conditions you may have in the contract. A home inspection will allow you and the inspector you hire to take a more thorough look at the property and give you a greater understanding of the property you are purchasing. Finalize your mortgage with a visit to your lender, and you’re ready to sign off on ownership. This typically takes place in a lawyer’s office. At this point, congratulations are in order! Becoming a new homeowner is one of the most liberating things you’ll ever experience. There are many benefits to home ownership — pride of ownership, the ability to make home improvements, building equity, appreciation — the list goes on.
