First Time Buyers

First-time Buyers Plan

Navigating the world of Canadian home buying.

Below is an idea of the process of buying a home and the services I offer. For many it is the biggest investment they will make and I take pride in being there at every step. I will always be just a phone call away and you will receive honest, reliable and professional service with a little humour mixed in just for fun.

Step 1: How much you can afford.

Falling in love with a place you can’t afford can be heartbreaking. Avoid disappointment by figuring out your budget before you start looking.
 
1.  First, decide how much you can afford for your down payment. The Home Buyers Plan lets you withdraw up to $25K per person (or up to $50K per couple) from your RRSPs – tax-free – to be repaid over 15 years. The bigger your down payment, the less principal you will owe, and the less interest you will pay.

2.  Don’t forget about closing costs, like insurance, legal fees, home inspection costs, land registration and land transfer fees. Add those to your moving expenses and service hookup fees, and they can add up surprisingly fast.

3.  Your monthly housing expenses (mortgage, taxes, heat, etc.) shouldn’t use up more than 32% of your income. (If your combined monthly income is $5000, for example, 32% of that is $1600.) If you have car payments or credit card debt, the rule of thumb is that debt repayment shouldn’t be more than 40% of your income.

4.  Get pre-approved for your mortgage. It’s a good way of finding out how much you can borrow and it speeds up the process once you have found the home you want to buy. I have Mortgage Broker's I recommend that can help you with getting pre - approved, this will take the stress away from finding one on your own.   

Step 2: What type of property is right for you.

Sit down and make a list of must-haves and nice-to-haves. Be realistic, but be clear about the features you can’t live without. Decide on how many bedrooms and bathrooms you need. Maybe you are looking for a home office or a larger garage for your cars. How about a big backyard for the kids to play, or beautiful hardwood floors? The kitchen is always important and you should figure out what kind of set up you like the best. Consider your lifestyle and what stage you are in, if kid's are just around the corner then that downtown Loft may not be for you. 

Step 3: Decide where you want to live.

Living in an area you like is as important as buying a home you love. Decide if you would like the busy urban lifestyle, a house in the suburbs, or a quiet place in the country. Maybe you really want to walk or ride your bike to work and would dislike a long commute. On the other hand, you may not mind a longer drive if you find the perfect location. This and so many other decisions play into your final idea of what you are truly looking for, I am here to guide you along the way. 

Step 4: Start looking.

Here is where I really start to make an impact for you. Automatic emailing listings of the exact area and must haves you are looking for is just the start. Showings and Open Houses are a must I believe along with my access to properties only listed on the Toronto MLS for Realtors. I will be with you every step of the way and will not stop looking until I find you the perfect home for you and your family. 

Step 5: Build a team.

I believe in order to be successful in this business you need to create long lasting relationships with the people you work with and find the right people that fit in with this belief. Good and reliable professionals are always an asset when working in a fast paced environment like Real Estate and that's why I have surrounded myself with positive people who are great at what they do.  Mortgage Brokers, Lawyers, Accountants, Property Managers, Home Inspectors, these are just some of the professionals you will need when buying a home or investing. Instead of trying to find all of this on your own I pride myself on having the network necessary and ready to work for you right away, obviously providing the honest, reliable and professional work I have built my business around. Have confidence that I am called The Invested Agent for a reason, this is a one stop shop for buying a house or condo and you don't need to look any further for everything necessary in purchasing your new home. 

Step 6: Make an offer.

Now that I have found you the right place for your needs it's time to put in the offer. Negotiating is something I have a real passion for and I love to get you exactly what you deserve in every deal. An offer to purchase includes the purchase price you’re offering, chattels to be included in the purchase (like appliances or light fixtures), the amount of the deposit, the closing date and any other conditions. I feel it is important for you to understand everything that is happening and I will make sure you are comfortable with the process throughout it's entirety. Stress is never fun and I believe being informed and confident is one of the best ways to alleviate this negative emotion.  

Step 7: Get a mortgage.

Here is where my network of professionals can help you determine what works best for you and find you the perfect mortgage in a timely fashion. Of course if you have your own Mortgage Broker or just want to use the bank that is completely up to you. It's just nice knowing you have options and that there is someone there to help if you need it. Variable rate or fixed, the amortization period, deposit structure?  These are all questions that will be answered and explained to you so you feel perfectly comfortable going forward. 

Step 8: Move in and enjoy!

I'm here with you every step of the way and moving in is no different. If it's help moving into a condo or you need me to find you the best movers in town, I'm there. Every purchase comes with a gift from me of course just for saying thanks for being my client and working together.  I believe it's the small details and that extra touch that goes a long way and is important in building strong relationships and a solid business, you will see this from the very beginning to the end and beyond.