Home Buying Steps Refreshed

Buying a new home is a complex process, but it does not have to be difficult. Knowing where to start and which steps to follow will make your home buying process a good experience. The following steps are sure to get you on the right track and into your new home:

1. Determine the location and the type of home to suit your needs
2. Apply for a pre-approved mortgage with our professional mortgage brokers
3. Get your finances in order
4. Start your new home search
5. Hire professional services, including a realtor, lawyer and a qualified Canadian home appraiser
6. Arrange for a home inspection
7. Make an offer

Determine the location and type of home to suit your needs

Most people will have an idea of where they want to purchase their new home based largely on familiarity and convenience. For example, living close to work or schools might be a priority, or selecting a certain area of town rife with parks and amenities. This is also a good time to think about how much you want to spend and what you can afford, but do not start looking just yet. Wait until you get your pre-aaproved mortgage!

Apply for a pre-approved mortgage

Use our easy and convenient online application to get pre-approved for your mortgage today. Our professional mortgage brokers are here to help you every step of the way. We will evaluate your current situation and find the best possible mortgage to suit your needs.

Get your finances in order

After being pre-approved, it is a good time to make sure you have the finances to cover your down payment and disbursements on your anticipated purchase. After getting a pre-approved mortgage and knowing how much you can borrow, having the money to put down is essential. Your down payment is based on the amount you intend to borrow and must come from personal savings or a gift. This amount cannot be borrowed.

Start your new home search

How you find the perfect property is entirely up to you. Many home buyers enlist the services of a realtor, while others do it on their own. It is important to only look at homes within your budget as not to be disappointed later. However, you may be able to persuade a seller to lower their price if it is reasonable to do so.

Hire professional services

The perfect property has been located, now you should hire a lawyer and a home inspector. These expenses should have been included in your budget when you prepared all of your finances for this venture. Our professional mortgage brokers can help you find these services if you are unsure of where to look.

Arrange a home inspection

It is highly recommended that you get the property inspected prior to making an offer. You want to make sure that the home is everything it is made out to be by the seller. It is important to make an informed decision on the investment that will mean so much to your future. If there is pressure from other interested buyers, you can always make a conditional offer while conducting the home inspection to secure your position of interest.

Make an offer

After the home inspection is complete and you are satisfied that the property is a sound investment, you can make an offer. This can be done by presenting the seller with an offer of purchase. Sellers have the right to accept, reject or put in a counter-offer. Remember to include all the necessary details in your purchase offer. The deposit will be paid to the seller at this time.