There are 4 steps to buying a home.

 Most buyers do not have a planned approach when they think they are ready to take the plunge into home ownership. 

1. Choosing a real estate professional. 

You must first choose a real estate professional and sign a contract for representation. As a buyer, you do not have any cost when you sign up with a licenced real estate salesperson. However, most buyers are weary to sign a contract. There are 3 scenarios when you start looking at homes with a realtor:

i) The realtor shows you 20 homes and you decide that you do not want to buy a home. What you owe that realtor? $0.00

ii) The realtor shows you 20 homes and you decide to buy a home. What you owe extra to that realtor? $0.00

iii) The realtor shows you 20 homes and you decide to buy a home from another realtor. What you owe that realtor? Full commission payable to the realtor's brokerage.

A buyer represntation contract is a loyalty contract. You want a realtor to represent you and protect your interests. There are questions you can ask a realtor before signing up:

a) How many homes do you sell in a year

b) Are you a full time realtor or a part time realtor

c) Do you have any references we can call or do you have google reviews.

If you would like to see our google reviews, check them out HERE.

2. Get a mortgage pre-approval

Before you start looking at homes, you must know what your buying power is. Your maximum mortgage eligibility amount  is generally 4 times your gross income. If you add to that your down payment, that is your maximum purchase price.

However, this is a very rough calculation. You must get a pre-approval from a mortgage specialist before going to the next step. 

If you would like us to connect you with a mortgage specialist, give us a call at 416-727-2647.

3. Choosing a neighbourhood and style of home

Once you know what you can afford, buyers have the following criteria for deciding neighbourhoods and type of homes.

i) Location - close to work, schools, family/community and entertainment

ii) Style - size requirements for your family. Are you looking for a condo, a townhouse or a detached home. Does your family need a single car garage or a double car garage. 

We set up our buyers with real time access to listings that match their criteria. 84% of buyers will first shop online for homes before going out to physically see homes. 

If you like us to set up a custom search for you, give us a call at 416-727-2647.

4. The Fun Part!

You have signed up with a profeisonal real estate salesperson, you are pre-approved for a mortgage and you know the neighbhourhoods and style of the home you wish to purchase. This is when buyers will go out and look at homes with their realtor.

We use a process of elimination when helping buyers choose homes. Along with pin pointing the features of a home, we also bring the negative attributes of a home to our buyer's attention. There is no perfect home, at any price point. What matters is when a home meets most of your critical criteria.

If you would like to meet us for a buyer consultation, you can choose a day and time that suits your schedule using this LINK.