Buying a property
Buying a home can be the biggest purchase you make. Do not fear! Assisting you in every step of the way, I'll make the process of purchasing your dream home easier, more enjoyable, less time-consuming, and less expensive than if you undertook this challenge on your own. You will be equipped with education, experience and knowledge.
As a CIR REALTY Agent and member of Leading Real Estate Companies of the World™, my goal is to ensure that you have the best real estate experience possible. Do not hesitate to contact me if you have any questions, concerns or require further information.
Things to keep in mind
Your first step to buying a home is to first ask yourself why you want to buy a home: to stop paying rent? To start building equity? To have a place of your own? To raise a family? To entertain business associates? To move up to a bigger house? Next, list what kind of home you'd like and where you would like to be. Be specific. Separate the "must haves" from the "want to haves."
Think of yourself as zeroing in on a target, going from the general to the specific. Consider area (city, suburban neighborhood, country); community (north, south, east, or west side); neighborhood (older and settled or sparkling new; a particular school zone; recreational facilities; and other community services such as transportation, day care, library, stores, entertainment). Ask yourself how many minutes you are willing to commute to work.
Think about home styles. How much space do you need? Does your situation require a one-level home, or are stairs acceptable? Consider size and kind of property. Do you want a newer home, or maybe an older one to fix up? Someday you or your heirs will want to sell. Consider how long you expect to live in this particular home.
Once you have addressed the above needs, your next step in the purchasing process is to get pre-qualified with a mortgage company. This can be done over the phone or even online in a matter of minutes.
Call me and I will refer you to a mortgage professional that has an excellent reputation and track record for successfully acquiring loan approval for his/her clients.
Once you've been pre-qualified and know what price range you want to stay in, I can help you determine which properties fit your needs by using the (MLS) Multiple Listing Service system to locate them.
I have the best possible resources and communication systems available today to help you locate the homes on the market that match your specifications. You can even search my listings here at my website.
I will help you complete your financing and inspections, and close on the transaction. My top priority is to make sure that your home buying experience is pleasant, cost-efficient, and successful.
Cost of Buying
Legal or Notary Fees and Expenses
Property transfer tax
Home inspection fee
- Title search
- Investigating title
- Drafting documents
- Land Title Registration
- Pre-paid property taxes or utility bills
- You will need to reimburse the sellers for any prepayments
When you buy a newly constructed home, you must pay the 12% HST. However, new home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000.
Before your lender approves your mortgage, you may be required to have an appraisal done. Sometimes your lender will cover this cost, if not, you are responsible. The fee ranges from $150 to $350.
A home inspection is a report on the condition of the home that can alert you to any protential issues such as moisture problems, pyrite, radon gas or urea-formaldehyde. The fee is about $500 to $700, depending on the size and complexity of the inspection.
To be safe, make the insurance effective on the earlier of either the completion date or the date that you pay the balance of the funds in trust.
- Professional moving services or truck rental
- Moving insurance
- Packing supplies
- Moving equipment (dollies, hand trucks)
- Storage unit rental
- Snacks, drinks and gifts for friends who help you move
- Gratuities for professional movers