Choosing to buy a home is one of the biggest decisions you’ll make in your life. It can be a complex process that requires a lot of planning. Instating the help of a knowledgeable REALTOR® will make the process run smoothly. To ready you for this, here is a general overview of what to expect and prepare.
Get Your Finances In Order
The first thing you’ll need to do is put money aside for a down payment. This amount is (at minimum) 5% of the purchase price of the home you’re planning to buy. Second, you’ll need to meet with a mortgage broker to determine what you can afford. Shopping around for the best rate is highly recommended. Being Pre-Approved before embarking on your property search is very valuable!
Visualize Your Dream Home
Once you’ve 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 Travis, your REALTOR®
It’s important to partner with a REALTOR® you feel completely comfortable with. 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 complicated process of buying a home.
Using the property search on this site and consulting with Travis, your REALTOR®, you will be able to find homes that meet your criteria. You will be updated you frequently regarding new listings and schedule you appointments with sellers.
Offer & Acceptance
Travis, your REALTOR® will help you place an offer that the seller will either accept, counter, or reject. After you’ve negotiated an accepted offer, there will be a window of time allotted for you as the Buyer to arrange a home inspection, allow your Lender to approve Financing, and a few other items often referred to a “Subjects”. Once these subject items are completed, you are ready to sign off to make it a firm Deal. A deposit for the purchase will be due at this time.
At this point, congratulations are in order! You are all set to sign off on the Purchase of your new home. This will take place at a Lawyers office or with a Notary on a date that is set out in the contract of purchase and sale.
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!