1. Figure out how much you can affordFalling in love with a house you can’t afford can be heartbreaking. Avoid disappointment by figuring out your budget before you start looking.
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2. Figure out what type of home is right for youSit down and make a list of must-haves and nice-to-haves. Be realistic, but be clear about the features you can’t live without. How many bedrooms do you need? Bathrooms? Do you want a home office? A garage or parking spot? How about a big backyard? Hardwood floors? A building with loads of Amenities? Eat-in kitchen? Consider your lifestyle and your stage of life. If you’re planning kids in a year or two, the studio loft might not be your best bet. |
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3. Decide where you want to liveLiving in an area you like is as important as buying a home you love. Do you want a busy urban lifestyle, a house in the ‘burbs, or a quiet place in the country? Do you want to walk to work or are you okay with a longer commute? Do you need to be close to good schools? The Beach? Parks? Highways? Rec facilities? Shopping? |
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4. Build a teamPut together the right group of experts to help you buy. Start with a REALTOR® you trust, then look for a reputable lender or mortgage broker, a lawyer, a home inspector and an insurance broker. iLOFTU.ca works closely with all of these professionals, and will be happy to recommend people you can depend on. |
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5. Start lookingTalk to your REALTOR® about your needs and start looking at properties. Go start seeing Open Houses with your agent this will save a lot of your precious time. |
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6. Make an offerWorking with your agent you’ve found the perfect place – now it’s time to make an offer. An offer to purchase includes the purchase price you’re offering, chattels to be included in the purchase (like appliances or light fixtures), the amount of the deposit, the closing date and any other conditions.
I will help you prepare your offer, and will present it to the vendor, who will either accept it or make a counter offer (which asks for a higher price or different terms). You can accept or reject the counter offer. If there is an agreement of the minds the home is yours. If not, you can make another offer, or you may have to keep looking. |
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7. Finalize your mortgageOnce you’re approved, you’ll need to decide what type of mortgage works best for your needs. Will you go with a fixed or variable interest rate? Will your mortgage be closed or open? What will your amortization period be? Will you make payments monthly, biweekly or weekly? Your mortgage broker or lender can help you find a mortgage that suits your needs – and saves you the most money in the long term. |
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8. It's Housewarming timeLet me throw you a housewarming party for allowing me to guide you along finding your new home. |