How To Buy Your First Home - Step 5: Pick Your Side Kick

How To Buy Your First Home - Step 5: Pick Your Side Kick

If you haven’t done so already, now would be a good time to pick a real estate agent to assist you through the process of finding and purchasing your new home. It can be a jungle out there, so it's best to have a trusty guide to help navigate you through the process.

Do you really need the help of a real estate agent? How do you pick the best real estate agent for you? Should you sign a Buyer Representation Agreement?

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How To Buy Your First Home - Step 4: Gather The Funds Needed To Buy Your New Home

How To Buy Your First Home - Step 4: Gather The Funds Needed To Buy Your New Home

If you’re like most future first time home buyers, the idea of needing to save up money for your deposit, down payment, land transfer tax, and legal fees can seem really daunting. That’s why it is ideal to start saving as early as possible. Even though you might not be looking to buy a home for another 2 years, stashing away money now can help make the process of handing over so much cash a little more manageable. 

Check out the break down of the costs you can expect as a home owner, and a trick to help you start saving for your down payment.

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How To Buy Your First Home - Step 3: Calculate the Cost of Buying Your New Home

How To Buy Your First Home - Step 3: Calculate the Cost of Buying Your New Home

I know talking about finances and expenses can be depressing, but encountering unexpected costs in the process of purchasing your new home is a sure fire way of killing your home buyer’s high. So below I lay it all on the line and hope that this helps eliminate any unexpected (and potentially expensive) surprises for you.

The following costs are what you could expect to have to pay by the time you take possession of your new home, otherwise known as the “closing costs”. 

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How To Buy Your First Home - Step 2: Get A Mortgage Pre-Approval

How To Buy Your First Home - Step 2: Get A Mortgage Pre-Approval

Nothing will give you a more accurate picture of what price point you can afford to purchase your home in than speaking with a mortgage professional. Bonus: their services and advice are free!

Should you speak with a mortgage broker or the bank? What is a mortgage pre-approval? Is it a guarantee of financing?

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How To Buy Your First Home - Step 1: Get Your Finances In Order

How To Buy Your First Home - Step 1: Get Your Finances In Order

While it’s not the most fun stage of the process, before you begin house hunting it’s essential to get an accurate picture of what you can afford.

Get a copy of your credit report, learn to understand what your credit score means and how to improve it, calculate your debt service ratio.

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Condo Living: Things To Know Before You Buy

Condo Living: Things To Know Before You Buy

There are the obvious things you want to know before you buy a condo, such as the financial state of the condo corporation, what the condo fees are, and how many parking spaces are included with the unit. But then there are the less obvious things that you may not think of that come with condo living. I thought I would compile my list of things you should know before you buy a condo:

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