Buying your first home can be exciting, scarry, & daunting all at the same time.  Fortunately you're not going to "do it" alone.  There is a team of people with expertise who "chaparone you" each step of the way.  So let's see who is on the team:

 

 

These folks setup your financing which makes everything else possible.  They ensure that you are "pre-approved" to purchase a property you can afford.  They review & confirm your revenue, expenses, loans etc and project what your expenses will be with your new home.  At the end of the day you want to be happy and comfortable in your new home so getting affordable financing is key to your happiness!

 

 

Love them or loathe them real estate agents know properties & areas best.   If you trust your agent then you'll love them.  If you don't trust your agent, fire them and find one you can trust.  This is too big of a decision to be making without someone you are really comfortable with.  Their job is to show you properties that best match your desires and are within your budget.  They should point out the good and the bad of each property.  They should negotiate the best deal for you and of course get you through all the paperwork to ensure that once you've found your dream home that you have a binding contract (so you do not lose it to someone else).

 

 

So you found your dream home and it looks just perfect to you, but is it really?  In comes the Home Inspector....Their job is to point out issues the property may have.  Issues that could cost you dearly in repairs.  Besides, won't you feel great after the inspector says "I could not find anything wrong with this property, it's a great place".  Remember it's not a guarantee or warranty, it's only an informed opinion about the soundness of your new home. 

 

 

Have you ever dreamed of picking the perfect tile, counter or faucet?  What about the perfect room size or window bench you've always wanted.  Then perhaps building is the way to go.  But do your homework.  Builder reputation is key so do some research before falling in love with the model home.

 

Your homework should include inspecting their other developments and talking to their current owners.  Would they buy again from the same builder?  If the answer is yes then chances are you're on track for success.  Also check to see if they are part of the Canadian Home Builders' Association www.chba.ca and are in business for the long term.  Are they dedicated and committed to customer satisfaction?

 

 

These are the folks who protect your rights and interests.  They walk you through the legal paperwork to close the deal for your new home.  Their duties include, conducting a title search, check for any liens, adjusting the costs for taxes and other payments made by the sellers & buyers.  Your lawyer's role is to ensure that you understand the Offer to Purchase and you get what you bargained for at the price & conditions agreed.

 

 6) Appraiser

 

Are you paying too much for your property?  Your lender will sometimes contract an appraiser to have an unbiased appraisal done.  They do this by comparing your property against other recent sales in the area.

 

 7) Insurance Broker / Agent

 

You'll need at least fire insurance before you can obtain a mortgage.  An insurance broker / agent help you get the insurance you need to protect your new investment.  Shop around and get various quotes and ask many quesitons about the terms of the policy.

 

 

 

As you can see there exists a team of experts who guide you throughout the buying process.  Their job is to ensure that you can afford your new dream home, that it meets your desires and requirements (well at least most of them), that it's safe and sound and won't fall apart on you any time soon, that it's good value for the money and that it's protected.

 

 

Feel free to email me: alan.m@shaw.ca