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Purchasing a home is a significant milestone. Whether you are a first-time homebuyer, seeking your dream home, or adding to your investment portfolio, your purchase will be a significant one. I understand the importance of this decision and am committed to helping you find the ideal property that meets your specific needs.
With over eight years of real estate experience, I have access to a network of professionals who specialize in areas such as lending, renovations and more. I am here to support you through every step of the home buying process, which is outlined below for your convenience."
Location is a key factor in both your lifestyle and the value of your home. While your budget may affect your choices, it is important to consider factors such as proximity to work, schools, family, shopping, and entertainment.
Determining your budget is crucial in the home buying process. Keep in mind that there are many additional expenses beyond the purchase price of the home (as outlined in step five). It is important to consider both your available funds and your desired expenditure.
When considering the features of your potential home, make a list of your priorities. Do you require an ensuite bathroom, attached garage, or private backyard? Are a fireplace, short commute, or fixer-upper important to you? Another important consideration is the type of property you wish to purchase. Single-family detached homes may offer more living space and land, while condominiums may provide low-maintenance living. It is essential to choose the type of home that aligns with both your budget and desired lifestyle.
Consulting with us can help guide you in the right direction with tools that help save you time and money, whether you're in need of a house next week or next year.
Your profile has been set up and after a few weeks of looking at properties online you've decided to start looking in-person. When viewing a property, it is essential to keep your requirements in mind. Does the property have all the features you desire? Is the location suitable for your lifestyle? Additionally, consider technical aspects such as wiring, power outlets, heating, foundation and roof maintenance, windows, and plumbing. A professional home inspection can provide a thorough evaluation of these technical elements. While it may be competitive in the market, it is important to determine if any missing features will be acceptable in the long term.
When you have found a property that you would like to purchase we will sign an offer, this offer includes what you're willing to pay, an irrivocable date, a closing date for the purchase, and any conditions for the purchase. Some common conditions that may be included are:
It is typical to provide a deposit within 24 hours of accepting the offer. This deposit, which should be of significant value, usually starting at $5000, demonstrates your good faith to the seller.
Attached is a PDF with more information about the home buying process.
It is essential to fully understand all the terms of the offer before signing. Once an offer is accepted and all conditions have been waived, the offer becomes binding on both parties. Before the property can be transferred from the seller to the buyer, additional steps must be completed by your mortgage agent and lawyer. You will typically have two more opportunities to visit the home before closing. It is recommended that one of these visits takes place the day before closing to ensure that the property is left clean and tidy. A checklist can help ensure that you have covered all necessary items.
Purchasing a home is associated with some extra expenses, here are some of those expenses to help forcast your total budget:
Survey costs (if the seller didn’t have a current survey)
A high-ratio mortgage
An interest adjustment for the mortgage
Reimbursement to seller for the unused portion of any prepaid property taxes or utility bills
Land transfer tax
Real estate agent fees
Mortgage broker's fee
PHIL WILLEMSEN - REALTOR® - QUARESMA REALTY GROUP
RE/MAX RISE EXECUTIVES, BROKERAGE - 623 Fortune Crescent Unit 110, Kingston, ON K7P 0L5
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