There are many things to consider when choosing the home for you. It may seem obvious, but the importance of liveability and your wants and needs need to be addressed. Check out this list of the main liveability factors that you should consider when finding your next home.
Location is key when searching for a home, as it is the one thing you can’t change. Try not to get too caught up in the emotional side of the house hunt and overlook important factors related to location, such...
A mortgage pre-approval is an important first step in the home-buying process. Having a pre-approval in hand tells you how much you can spend on a home, and it locks in the current low interest rate for up to 120 days, so you can shop the market knowing you’re insulated from rate hikes in the near future. If the rate drops, your lender should honour the new lower mortgage rate when you’re ready to make your purchase.
The amount that a financial institution is willing...
Mistake #1: Not Getting Pre-Qualified for a Mortgage
Before looking for your next home, take the time to get pre-qualified by the bank or mortgage broker you choose. This can save you hours of searching for homes in the wrong price range, or worse, purchasing a home and then finding out you don’t qualify for financing. Pre-qualifying gives you peace of mind, helps narrow your search criteria, and most importantly, gives your RE/MAX agent a negotiating edge by being able to alleviate the...
Home Purchase Expenses
There are many costs that homebuyers incur, especially upon purchasing your first home. Some of the expenses related to buying a home are one-time costs, while others are continuing costs.
Your largest outlay is the down payment. As a first time buyer, this would likely represent only 5 – 10% of the purchase price. Be prepared to pay for additional costs, such as:
- Legal Fees & Disbursements
- GST and PST (if applicable)
- Land Transfer Tax
- Property taxes and adjustments...
Should I Buy a Condo?
As single-family home prices have risen, many consumers have been looking to condominiums as an alternative. First-time buyers like the lower prices of condos, which make the entry into real estate ownership market easier. Seniors like the low maintenance aspect and the ability to be in a community catering to their lifestyle. Others like the security advantages that the building provides, especially for those who travel frequently.
A condominium is a specific...
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