Determine your price range
Get pre-approved either at a bank, financial institution, credit union or by a qualified mortgage broker - this enables you to save time by looking at the right homes, guarantee a current interest rate, increase bargaining power and gain confidence in your home buying decision.
What should you buy?
Review features and amenities that you desire in a home such as: future and current needs, number of bedrooms & bathrooms, location, new home vs. re-sale, type of home (condo, single-family detached), square footage, lot size.
Reasons for working with a real estate agent
They will evaluate the current market in the interested neighbourhood as well as schools and amenities available, they will source desirable properties and they will negotiate on your behalf.
Assessing a House
It is a good idea to make notes about each house you're seriously considering when searching for a home. Several factors to consider: exterior condition, interior condition, structural problems, mechanical systems, neighbourhood and zoning.
Upon offer acceptance
Pay the deposit, satisfy the conditions and subject clauses (which typically would be financing, home inspection, insurance and/or Status Certificate for a condo purchase), finalize your mortgage, purchase homeowners' insurance and hire a lawyer.
Prepare for Closing Day!
This includes packing, notifying the utility companies, hiring a moving truck if required, "employ" friends to assist in the move, a visit to your lawyers office to sign paperwork a few days prior to closing and a final walkthrough of your new home to ensure details of the contract are adhered to.
