Home Buying Process
Here’s a quick overview of the key steps when searching for and buying a property, whether that’s a cottage, a condo, or a chalet.
Determine Your Budget
Know your financial limits and set a budget
before you start searching for a house. You’ll need to plan for a down-payment and closing costs.
Find the Right Location
Research the areas you're interested in
and look for a neighborhood
that fits your needs and lifestyle.
Once you’ve obtained your financing
and all the conditions are lifted,
the property is considered sold.
Congratulations!
Know Your Needs and Wants
Make a list of your must-haves and nice-to-haves
in a home to help you (and your Realtor)
narrow down your search. Also think of your deal-breakers!
Determine “How much home
you can afford to buy”
You’ll need a Mortgage Pre-approval
before making an offer,
and preferably before looking for homes.
It allows you to determine what you can afford.
Having a Pre-approval letter from a lender
can also give you an advantage over other buyers
as it shows sellers that you're serious.
All the Conditions are Lifted!
Work with a Real Estate Agent
A professional, licenced agent (Realtor®) will
help you navigate the buying process,
find the best deals,
draft any special clauses you may need to protect your interests,
negotiate with sellers, and much more!
Visit Properties
Work with your Realtor® to find suitable properties
on the web. Your Realtor® will schedule visits
and accompany you to provide an objective view
as needed.
Make an Offer
Your Realtor® will assist you in preparing the offer
and will add any clauses that could be necessary
to protect your interests.
Consider the Resale Value
Even if you plan to live in the house for a long time,
it's important to consider the resale value
in case you need to sell it in the future.
Inspect the Home
Hire a professional home inspector to
thoroughly check the property
for any issues or potential problems.
A good inspector will also provide useful
insight on how to maintain your investment.
Don’t Rush the Process
Buying a property is an important decision. Remember that
an offer, or Promise to Purchase an Immovable,
is a contractual document.
You should not feel pressured into making a rush decision!