Tips for buyers
Tips for buyers
We’ve dedicated this page to anyone looking to buy a home. From tips on how to get started, fun facts, do’s, and don’ts.
How to get started
I - The mortgage pre-approval
The first step when considering buying a home, is to obtain a mortgage pre-approval from your mortgage specialist. This will determine your budget, which will help us set the tone for the rest of your home search criteria.
II - Identify your search criteria
Once you’ve obtained your mortgage pre-approval, it’s time to identify your wants and needs. We recommend our clients doing a list of wants and needs. Think: purchase price, location, style / size of home, style / size of property, number of bedrooms, number of bathrooms, and everything in between.
III - Hire the right agent
Now that you’re pre-approved and have established your home search criteria, it’s time for you to hire the right agent for you. We recommend you interviewing a few realtors, discussing of your home search criteria along with your expectations. A great agent will understand your needs, and will work diligently to help you find the right home, and land a deal at desirable terms for you.
IV - Let the house hunting begin
Now that you’ve obtained your pre-approval, established your search criteria and hired your realtor, it’s time to start the home search. For each of our buyer clients, we’ll set up a personalized automatic email dedicated to them with their exact home search criteria. This will help us stay on top of the market, and see every single property that goes on the market with the right criteria. Once our clients see a property they’re interested in, they let us know, we schedule a viewing, and we go see it in person.
I - The buyer doesn't pay the commission
The commission is paid for by the seller. Which means that as a buyer, working with a realtor is free. With one exception: being when the seller has precised that they won’t pay the co-operating realtor. Which is almost unheard of.
II - Not every home is on the market
We often have ‘in-pocket’ exclusive listings, listings that are ‘coming soon’, know of properties that are ‘coming soon’ to the market, or know of listings that are for sale by private owner’s.
III - First time home buyer? Enjoy various benefits and incentives
A few examples: Getting away with a 5% down payment on your first home purchase (on the first $500,000, then 10% on the remaining balance). A land transfer tax incentive, saving you up to $4,000. And more. We recommend you contacting your local realtor for more specifics on benefits and incentives available to you, as they vary depending on circumstances.
Do your due diligence!
Study neighborhoods, speak to your local realtor, mortgage representative, look into first time home buyer incentives and programs available to you, look into various communities, amenities, school districts, the township’s economic development plans, etc.
Don't skip on the due diligence
Buying a home is one of the most important decisions you’ll make. Don’t skip on your due diligence. Get your mortgage pre-approval, study the market and various townships, get ready before jumping in the market and placing offers, make sure to inspect properties before purchasing, and when in doubt, don’t be shy from asking questions.