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BUYING
BUYING: Building Your Wishlist Is The First Step
LOCATION
Location is important, consider your commute to & from work, shopping, schools & access to public transportation.
PRICING
Begin with getting your pre-qualifying (javascript:void(0))for your mortgage. This will also help with determining the residential tax amount limit or the condo fee limit. You must also consider the CMHC fees, configured in with mortgage amount.
CONDITION
Your budget may not allow for major repairs or reno's. This may change your wants to needs.
Avoid Disappointment, Pre-Qualify!"
First time buyers or seasoned buyer, you will benefit from arranging your pre-qualifying. When pre-qualifying banking institutions have the ability to set your rates in for 3 month, so if rates increase you are locked in at the lower rate. Knowing the purchase price you qualify for eliminates the disappointment of negotiating an offer and finding out later don't qualify. Pre-qualifying also makes you a stronger buyer in the eyes of a seller or real estate agent.
What Are Buyer Costs and Responsiblities?
• Home Inspection
• Utility Deposits
• Tax Adjustment if Previous Owner is not on a tax installment plan
• Lawyers Fees
• Moving Truck, Movers and Moving Supplies
Buyers vs. Sellers vs. Balanced Markets
Buyers Market: The supply of homes on the market exceeds the demand
Sellers Market: The number of buyers wanting homes exceeds the available supply
Balanced Market: The number of homes on the market is equal to the number of buyers
Mortgage Calculator
Find out what you qualify for using this handy mortgage calculator(https://www.realtor.ca/Residential/calculator.aspx?tab=1)
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