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Why Buy?
Do you long to call a place your own? It’s fun to think about kitchen cabinets and colour schemes, but there are many practical things to consider first. For most people, buying a home is not only an emotional decision, but a financial one too. Buying a home is an investment that will appreciate over time, giving you more financial security later on in life. It will probably be the biggest purchase you’ll ever make.
The pride you will feel in making that purchase can sometimes be marred by the confusion that sometimes accompanies home buying. Read on for some tips on how to make the whole transaction go smoothly.

Get Pre Qualified
First-time home buyers should find out what kind of mortgage they can afford, even before they start looking. Too often, arranging a mortgage is left until the end, forcing buyers to scramble for financing. It is important to understand the parameters of your purchase.

Down Payment
How much of a down payment can you part with? Depending on interest rates, you may be able to spend a lot more or less than you imagined. It is important to remember what you have saved isn’t always what you want to use, as there are extra costs that will come up as you go through the purchase. While a conventional mortgage down payment is 20 per cent of the value of the home, there are mortgage options now that can offer you smaller down payment options.

Finding a Good Agent
Real estate agents are like matchmakers, bringing buyers, sellers, and homes together. Agents must be on top of the market – in terms of sales, listings and house prices in the area. But most importantly, real estate agents need to make their clients feel at ease.

Making an Offer
Your real estate agent will be an experienced negotiator, with a certain understanding of how flexible the seller will be. Before making an offer, do your research on the home to help you arrives at your offer price. When buyers and sellers strike a deal, loose ends often need tidying up before the deal is finalized, such as financing or selling your existing home. Once conditions are met, your offer will be firm!

Finding the Right Lawyer
Don’t wait until after the deal is struck before choosing a lawyer. When looking for a lawyer, make sure he or she routinely deals with real estate deals. To find the right one, remember that quality and experience are the key, not just the price.

Closing the Transaction
For first-time home buyers, closing costs are often an unwelcome surprise awaiting a thrilling experience.. Besides the basic purchase price, you will face a long list of expenses before taking possession of your new home: legal fees, land transfer tax, title insurance, disbursements, to name a few.

Buying a home is a wonderful experience, wrapped in a whirlwind of excitement. Make sure you prepare yourself the best way you can beforehand by keeping yourself informed during the process. See our comprehensive buyers guide to get yourself started, and congratulations in advance!