Tips For Buying Your Dream Home
Tips for buying home in Toronto
Buying home either for first time buyers or for people who are selling their house and buying a new one is huge step and stressful at times. Here are some useful tips for buying your dream home in Toronto or any other city in Canada:
1) Hire a home inspector; a professional home inspector job is to find issues in a house that you may not find yourself and report them to you. It costs you a couple of hundreds of Dollars to hire a home inspector but it can save you thousands of Dollars in the process! How? You can ask us!
2) Get a pre-approval mortgage; shop around in banks and financial institutions for best offer and find out how much mortgage you can get as well.
3) A great tip for buying your home in Toronto or other cities is to determine your needs and wants for coming years; what you want in a house and its neighbourhood like schools, shops, services, parks, transportations, gyms and many others that match your needs, goals and desires.
4) Check the upcoming city plans for the neighbourhood like new constructions, changes or additions that may affect the properties values upward or downward.
5) Don't underestimate good schools closeness to the house; it gives a lot of values to the house even when you decide to sell it.
6) Don't fall in love fast; don’t buy a house based on emotions; be wise and rational for such an enormous investment.
7) Other tips for buying home in Toronto or GTA is to check the house and neighbourhood at different times of the day and night; see what is happening in the neighbourhood. Check the traffic flow, closeness to amenities.
8) Get the house survey to find out any borderline issues with neighbours or any easement!
9) Be aware of all possible home ownership costs; property tax, repairs, maintenance, HWT and furnace rent, home insurance, utilities, street parking permit and so on.
10) Be aware of potential purchasing costs; deposit, land transfer tax, lawyer and closing costs, packing and moving, home internet transfer and so on.
11) Shop around for the home insurance; when talking to insurance companies you may get more information about any possible past issues with the house or neighbourhood.
12) Search for a house you can afford now and for coming years; Take notes of your life style and consult with your realtor about them, it helps your realtor a lot to find a house that suits you and your family.
13) Find a good lawyer who will be dealing with title transfer and closing issues as soon as possible.
14) Decide to buy when you are ready and timing is right for you. Don't try to time the market. Trying to anticipate the housing market is almost impossible.
15) Read Status Certificate thoroughly if buying a condo in Toronto
16) Consider stairs if you have babies, planning to have or you are downsizing.
17) Avoid changing jobs during the mortgage approval process. When shopping for mortgage, investigate the terms like variable or fixed, payment amount and frequency. Weigh the pros and cons of each plan on your financial situation.
18) If you are buying a house that needs renovation because it needs or you want, don't underestimate the costs. Consider a plus tolerance for the Reno costs.
19) Avoid making any big purchase or financial commitment a couple of months before buying a new house.
20) Hire a professional and committed realtor who knows the market. Your realtor can help you enormously in finding your dream house and negotiate for your best interests.
There are many other tips for buying a home we provide our clients when we represent them in buying house in Toronto or GTA. Remember! Our job is not just search the market and find your dream house, we are committed to give you best possible awareness and be available for you all the time when you need us! Please contact us to have smooth and bump free road to buy your dream home in Toronto or GTA.