Good Home Buying Tips
Welcome to TIPS for buying a house in GTA! This is an exciting time to be purchasing a home for yourself, through a bank or with our Rent to Own program, with an array of new houses coming onto the market these is some excellent value to be found. All it takes is a little time and effort in looking and you can find your dream house for a dream price. If you have a team of experienced and trained professionals working with you, your job is way easier.
Welcome to tips for buying a house in GTA! This is a very exciting time to be buying a home, with an array of new homes coming onto the market these is some excellent value to be found. It will take you a little time and effort o go through the process but it will be worth it in the end. It is after all one of the biggest purchase in your lifetime! So take the necessary steps and use a very professional and experienced professionals to assist you in this process as there is so much happening in the real estate market that only a trained experienced and efficient professionals help will go a long way. If you are buying a house or going with a Rent to Own program, these professionals should be able to help you in every single step in your pathway to becoming a home-owner.
The first and foremost thing you should do when buying a house is get your finances in order. You should know exactly how much you can afford as expenses towards your monthly payments, Home expenses, utilities, taxes etc.
Buying a house also involves finding out your credit score, fixing any outstanding issues affecting your credit, ensuring that these are properly released from your report, and finally securing your mortgage before you start looking. When I say secure your finances I do mean being pre-approved fully, this is different from a pre-qualification in that a pre-qualification does not “secure” you any amount of money, it is simply a judgment of whether or not you qualify to receive a mortgage.
If you are not in a position to qualify for mortgage at this time, however are in position to get it in 1- 3 years, Rent to Own program may be your other option, as it does get you into your home right now with lesser down payment than that required by the bank.
Next step in buying a house is to start working with a realtor that knows thoroughly knows the area you are looking to buy in. This is a huge step so be prepared to move from merely wanting a home, to actively looking for one. We highly recommend that you sit down with your realtor and make a list of things you require in a home. This is a list of those things that you can absolutely not be without. Once this is compiled, then list the things that you would like. Its not an easy job as one would think it is. I myself had a tough time with this when I bought my first home. There are a lot of things that need consideration. However, once these lists are ready, its time to start looking at homes. Your realtor should be able to provide you with a complete list of homes that fit your criteria, and some that come close. Also, they will be able to guide you to properties that fit your pre-approved mortgage amount or your pre-approved Rent to Own amount.
Always remember when buying a house, there are lot of opportunities to buy houses at a lower value even in good neighbourhoods. If you have time on your side and are willing your real estate professionals will guide you as to how you could get your house at a really good price. There may be motivated sellers willing to sell at lower price, houses that are going into foreclosures, houses under power of sale by the banks, auctions properties, Houses that have some renovations to be done, Houses that have been vacant for some time, etc. When buying a house, there are a lot of opportunities like these that we can help you if you are willing to work with us and we can get a house at a much better price than market. A lot of home buyers will not look at these type of houses as they do not have the expertise to go through these processes. We have people on your team that are experts in these areas and can help you and guide you how exactly you can do this and make a good amount of money just in the buy !
After finding a home or homes that suit you make sure to have a certified inspector take a thorough look through the home. Never ever miss this step. We have experienced people try and save some money on this and later on have to pay way more as they come across something that could have been easily picked up during home inspection. Have them check all questionable areas of the home. Don’t forget to have the inspector check for mold as this is something that is often overlooked. If the home passes the inspection than carry on with the offer if you are so inclined. If it doesn’t then either continue shopping, or utilize the necessary repairs as a negotiating point. Usually you should be able to have the cost of these repairs deducted from the cost of the home. Its a good idea to bring in your contractor or expert to get these estimates. By doing this you know that everything is above board. It also gives you an exact reason for asking to reduce the price by that amount.
Now also get your mortgage broker on board and get your self-approved for buying a house or get your Rent to Own specialist get their investors going to buy this property of your choice. Once everything is set, it time to start packing and book the movers!
Buying a house is a very important process and needs your careful attention. Such an important investment can benefit you financially for years to come as well as providing safety and financial security. We cannot emphasis the importance of a great team of professionals when buying a house, helping you to achieve and get exactly what you need and want in your dream home. Don’t sell yourself short on what you buy as your home. After all, you and your family deserve the best don’t they?