Buyer Mission
Embarking on the journey of buying a home is a profound and inspirational adventure. It is one filled with dreams, aspirations, and the promise of a brighter future. As a buyer, you are not just seeking a property; you are forging a path towards stability, creating a haven for cherished moments, and establishing a foundation for your dreams to take root or flourish. With each open door, you are unlocking the potential for new beginnings, building memories, and nurturing the very essence of your unique story. Therefore, a key pillar of my buyer strategy is to always show clients all the inventory of homes in the market which match their criterion. This allows purchasers to better understand the options available to them and at what price point. It is very rare a purchaser buys a home after just 3-5 showings. Therefore, patiently exploring different homes helps buyers avoid potential pitfalls and buyer’s remorse, ensuring they invest in a property that truly meets their needs as well as aspirations.
Mortgage Pre-approval
It is always recommended to consult a mortgage broker as to what purchase price you would be approved for. Moreover, a wrong mortgage decision can cost you thousands of dollars in interest. We always recommend you connect with your accountant before you select the mortgage options available to you. Over the years we have built a great team of mortgage professionals to work with you every step of the way.
Home Inspection
Having a home inspection completed is an important step to ensure your new home or investment property will not bear you unforeseen costs that will hamper your enjoyment or reduce future saleability. A proper home inspection will verify the structural integrity of the property, outline the age/life expectancy of major components, and highlight any major repair or replacement costs.
The Deposit
When we find the right property to purchase, sellers always like to see a credit worthy deposit, usually 3%-5% of the purchase price. When leasing a property, landlords usually require the prospective tenant to provide first and last month’s rent upfront. In both cases, the deposit must be provided within 24 hours upon offer acceptance.
Closing
Perhaps the most exciting part of the process is to finally close on the home of your dreams! The key here is to be aware of closing costs outside of the down payment. This includes land transfer tax, lawyer fees, moving costs etc. Keep in mind, If you are closing a property in Toronto, you pay a Provincial and Municipal Land Transfer Tax. It is always good to calculate the additional costs associated with closing your dream home over and above the down payment. This will help ensure you are well prepared & make the process of closing as smooth as possible.
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