Whether this is your first home purchase or your tenth, there are a lot of moving parts when it comes to buying a new house. You should feel in control and confident throughout this process.
We’ve compiled a guide for you so nothing gets missed! Reach out and we are happy to send a more detailed Buyer Checklist to you. (Although, if you follow Step 1 correctly, you should have all the guidance you need!)
Building a Foundation
Choose a Realtor, find someone you really click with.
Your agent should have:
- Good reviews or testimonials
- Financial Knowledge – they can walk you through the numbers!
- Works full time in the industry
- Great time management and communication skills (ie. did they show up on time & prepared? Do they communicate with you in a way that you understand and feel comfortable with?)
- Network connections (Effective real estate agents rely on their relationships. Do they work with other agents regularly?)
- They should ask about your Housing Goals and future vision
The Financials
Maintain good credit, save up for a down payment, pay off any debt that you can. Hire a mortgage broker to explain all of your options and to begin looking for lenders for you. Get a pre-approval before you begin shopping. We have a list of preferred Brokers and we are happy to recommend.
Finding Your New Home
The fun part! Compile a list of “must haves” and “nice to haves”, as well as preferred neighbourhoods. Begin touring homes with your agent. Provide good and bad feedback to narrow down the search. When you find the right one, get ready to put in an offer. Your agent will negotiate on your behalf and provide guidance so that your offer is accepted.
Insuring Your Home
Conducting home inspections and doing your due diligence. Hire a real estate lawyer to work on the transaction for you. We are happy to recommend lawyers if necessary.
The Home Stretch
Arrange with your lawyer to sign all closing documents. Also, arrange with your lawyer and agent to get the keys to your house! Move in and celebrate!
Download The Home Buyers Checklist