Congratulations! You have decided to purchase a property, or are thinking about buying one. You'll be joining the ranks of hundreds of families who realize that property ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family. When you own your own property, your hard-earned dollars contribute to your mortgage. The equity you earn is yours. Over time, your property will increase in value.
To help you go smooth through the whole process of buying, I've created for your guidance:
Buyer’s Tool Kit
1. The Agent
Buying a house can be stressful. A successful purchase starts with having the right representative. Once you’ve got the right representative to assist you, it is likely that he/she will be able to recommend other professionals to join your team.
2. The Lender
We are talking money! Your money after all. Getting the best lender is important. You have to feel comfortable with your lender, and be wary of lenders that promise more that you think you can afford. If the lender requires an appraisal, he/she will make the necessary arrangements.
3. The Lawyer
Buying a home is far too important transaction to skimp on legal risk of having yourself opened to costly future issues. Find a lawyer who takes time to answer your questions and is specialized in real estate law.
4. The Home Inspector
This is something that we always recommend, especially if the house that you want to purchase is old. No inspection is 100% guaranteed, but a few hundred dollars spend at the beginning can avoid many thousands to correct any “surprise” down the road. Ask the realtor for a recommendation.
5. The contractor
Planning renovations? Don’t let finding the right contractor slow you down. Planning ahead will make your renovations smooth, and the contractor will appreciate the advance notice.
1. Find the representative
Speak to an agent that is willing to listen. He/she can give you information about the market, you might not be aware of otherwise. He/she can help you start with the right foot.
2. Find out your price range
A mortgage calculator is a good place to start. As you get closer to buying, nothing will substitute a written mortgage pre-approval. Speaking with a mortgage specialist is the only way to get an in-dept look at your financial picture and to discover exactly what you can reasonable afford for a new home (or renovations).
In the following reports, you'll find the information you need to make a wise buying decision. We'll take you through the planning process step-by-step , to help you determine which home is right for you. You'll find a host of informative articles on mortgages, viewing properties, the offer, closing details and moving.
Please contact me if you have any questions about buying a property in Windsor or elsewhere in Ontario.