Smart STEPS

TO BUYING YOUR FIRST
(OR NEXT) HOME

Get Pre-Approved

Before diving into the excitement of house hunting, start by scheduling a meeting with a trusted mortgage professional to secure your loan pre-approval. This step is crucial because it provides a clear understanding of your budget and purchasing power, ensuring you focus on homes that align with your financial goals. Pre-approval shows sellers you’re prepared and helps you move quickly when you find the right home.

 

 

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Define Your Wish List

 

Take the time to create a detailed wish list that reflects your ideal home. Think about the number of bedrooms and bathrooms, layout, location, and must-have features like a backyard or a home office. If you're buying with a partner, sit down together to discuss your shared priorities and deal breakers.

 

This collaboration helps you stay aligned during your search, making it easier to narrow down options and focus on homes that meet your needs and desires.

Explore the Community

 

Buying a home means choosing a neighbourhood that fits your lifestyle. Explore the area by walking around, visiting local spots, and chatting with neighbours to get a true feel for the community and if it meets your needs. Think about things like schools, parks, transit, and amenities that matter to you. Picking the right neighbourhood is just as important as finding the right house and can greatly impact your overall quality of life.

 

 

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Pace Your Search

 

House hunting can be thrilling, but it’s important not to rush. Limit the number of homes you tour in a single day to avoid feeling overwhelmed. Seeing too many properties back-to-back can blur the details, making it hard to remember which features belong to which house. Instead, take notes and photos during each visit, giving yourself time to process and reflect on each option before moving on to the next.

Stick to Your Budget

Stay focused on your financial goals by sticking to your budget.Beyond the purchase price, factor in additional costs like property taxes, homeowners' insurance, maintenance, and potential strata fees. Understanding these expenses helps you avoid financial strain and ensures you're fully prepared for the long-term responsibilities of homeownership.

 

By setting a realistic budget and planning ahead, you can fully enjoy your new home without stretching your finances too thin.

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