If you’ve decided to buy a home, we can help! Speak to one of our experienced Realtors® who can help guide you through the process from start to finish.
Here is some information to get you started…
The first step to buying a home is to determine how much you can afford. Buying a home is a huge commitment so it’s important that you speak to a mortgage specialist who can advise you if you’re eligible for a mortgage and how much you can comfortably afford. They can also help you get pre-approved for a mortgage.
For an indication of how much your could possible borrow, check out the Mortgage Affordability Calculator at https://www.realtor.ca/calculator#v=payment
A down payment is the portion of the property’s price not financed by the mortgage. You will need a down payment of at least 5% of the purchase price of the home. If your down payment is less than 20%, you will need mortgage default insurance.
Closing costs are additional costs associated with buying a home and include the legal, administrative and disbursement fees. Specifically, these could include:
You may have an idea of what you’re looking for in your home but a Realtor® can help you find one that suits you and your needs. You may want to consider:
It may seem like a daunting task to buy a home, especially your first! Feel free to reach out to us with any questions! We are here to help!