Whether you are new or experienced in the real estate world, making the right decisions along the way will have a huge impact on your future success. Here are 6 steps that may help you out when looking to purchase a property.
It’s important to take the time to assess a few major financial factors. Consider your credit score, debt-to-income ratio, down-payment, closing fees and homeownership costs to start.
Having a local expert on your side is your best step to real estate success and they will be your main ally during the home buying process. Besides finding and showing you properties, they also provide insights and advice and make recommendations for other services like lawyers and lenders. Once you find a place you love, it’s your agent who will ensure that you get the best deal possible.
Most sellers won’t allow their home to be sold unless the buyer is pre-approved because they want to ensure the purchaser is committed and financially capable of putting in an offer. Also, being pre-approved for a mortgage will help you determine which properties are within your price range when you begin to search.
Viewing homes is the real fun part of buying a place but it’s important to understand what type of property is right for you. Be sure to make a list of what you want and don’t want in your home and in your neighbourhood.
Once you find a property you love, it’s time to make an offer to the seller. Your agent will help you decide not only how much to offer but when to make the call.
When an offer is accepted, it’s time to close! You should have an inspection done as well as a final walkthrough to ensure the property is in the expected condition. Then it’s just a matter of signing paperwork and getting keys to your new home!
Manal Boutros | Broker
Forest Hill Real Estate Inc. Brokerage
28A Hazelton Avenue,
Toronto, Ontario M5R 2E2
(416) 975-5588