As your personal guide and trustworthy agents, we strive to give you the best of the best. In the decades that we've spent in the industry, homebuyers have always asked us “What do I need to do when I buy a house?”. We've composed a step-by-step guide that organizes the buying process to make buying a house simple and less stressful!

Step 1: Find out what you can Afford 

Before you even go looking for a home, you have to make sure you're financially ready.

Make sure to have a budget when you go shopping. You can use our very handy affordability calculator by clicking here. 

One thing to keep in mind is your down payments. This is a percentage of the total cost of a home that you'll need to pay. The more money you put down, the more you'll save on monthly payments and cost of borrowing. Another important aspect is getting pre-approved for a mortgage. When the lender approves you for a mortgage, it gives you an idea of how much you can afford to buy your new house.

Set up an appointment with your bank or a mortgage broker (we have contacts for you if you'd like).  They will review your earnings and lifestyle expenses, and give you a "pre-approval" amount for a mortgage that they feel you can safely carry, financially.  

Step 2: Decide to Buy 

Before you even go looking for a home, you have to understand your needs. Think about the type of place you're looking for. Are you looking for a lot of bedrooms and washrooms for your family? Do you want a pool in the backyard? Do you want to live close to a school or a mall? These are just some of the things you have to consider before start looking for a new home.

You also have to familiarize yourself with different types of ownership as well to help narrow down the perfect home. Freehold is when it's all yours, a condo is when you take care of the inside and pay your fees to an association, and co-op is similar to a condo but you rent a unit in the building and pay maintenance and repair fees.  

Pre-construction purchases (freehold or condo) allow you to lock in what you want but know that it will likely be a few years before you need to aquire a mortgage. 

Once you have narrowed down some qualities, its time to go looking for a home!

Step 3: Hire an Agent

There are thousands of real estate agents how do you chose one that's right for you?

You have to pick carefully. They will be acting as your representative and you will need someone to look out for your best interests. You will need someone that you can trust and someone who understands what you want.

There are a few ways to look for your perfect Realtor, such as:

• Ask friends and family for a recommendation
• Look for a Realtor who is connected to the community that you wish to buy in ~ Check out their Instagram pages.
• Visit one of the local offices in your area

They have to be a trained professional who knows your area inside out. A great agent is someone who puts an emphasis on the relationship built between agent and client offers you quality services to help you accomplish your goal.

Step 4: Find your Home

It used to be that people (when house hunting) would begin their search by browsing through the local paper for Open Houses.  Times have changed!  Virtual shopping has become the new norm! Virtual tours keep everyone socially distanced and most listing have interactive floor plans to better visualize the layout of the home.  Looking for houses can be really fun and exciting!  You can browse listings using the smart listings search on our website, here and also see our upcoming or current listings on our Instagram page here.  Know too that we have insight to properties that aren't listed on MLS so feel free to reach out to us and we'll let you know of properties behind the scenes.

Step 5: Make an Offer Now

Now that you've found the house that you are set on, it's time to make an offer. Not all offers are the same and here's where we, as your real estate team work with you on negotiations. We will help you with specific terms and conditions that will be specified in the offer weighing the price you are willing to pay with the price on the Offer.  

Communication is key with you, our client, as well as our colleagues to determine how to pay enough to secure the property but not overpay market price.  Additionally , financing, inspection, conditions, or other things like inclusions and exclusions are integral to the Agreement to Purchase and we have decades of experience in negotiations and Real Estate transactions.  Sometimes a closing date that meets the Seller's needs is more important than a dollar value (as they may have purchased elsewhere already).  It is our job to find out what is most important to the Seller so that we can put your Offer in the best light.  This is especially important now with multiple offers in this "Seller's" market.

If there is something in the offer that doesn't satisfy the seller, counter offers or negotiations can also be presented to help get a price that you think is fair.  

Step 6: Close the Sale

To close the sale, lawyers registers the property and handle the myriad of dispersements and adjustments that must be completed before keys change hands. There will be closing costs associated with the sale that need to be paid either by or on the closing date. It can include mortgage application fees, inspections, and legal fees. But once that's taken care of, you get your new house.  Know that our relationship doesn't end with you there.  We're always just a click or a call away if you're looking for infomation on your neighbourhood or home.

Congrats, welcome to your new home! You're all ready to move in!