PRE-APPROVAL

Pre-approval is KEY! It is extremely important for first time home buyers to have their mortgage broker look over their application and supporting documents needed for the mortgage approval process. Having this knowledge will make the home buying experience so much easier and less stressful. It also allows the buyer to know exaclty what their purchasing power they have. 

MAKE A LIST

Make a list of your must haves and wants. While drafting up the list consider your lifestyle and values, what is important to you. Location, type of home, ameneties, square footage etc. If you don't want to shovel a driveway and cut the grass a condo might be a better fit. if you have pets and need a backyard a fenced yard might be on your must have's list.

REAL ESTATE AGENT

Chose a realtor that is knowledgeable in the market you are planning to buy in. I would highly recommend if you are looking to purchase in a specific area use a realtor that services, and lives in that area. 

ASK QUESTIONS

Don't hesitate to ask questions. Purchasing a home is the biggest investment we make in our lifetime. If you don't understand some of the terms, or are confused about the process your realtor will be more than happy to answer all of your questions.

CLOSING COSTS

Don't forget about the closing costs! Make sure you account for the closings costs so there is no suprises. Here is the list of potential closing costs: Land transfer tax, Lawyer fees, Title Insurance, CMHC fees, Appraisal fee, Home Inspection, and Moving costs. 
Also a friendly reminder ->your mortgage DOESN'T get funded until closing day, please do not make any BIG purchases on your credit cards, don't buy a new car before closing, don't take out a loan before closing, these large purchases could impact your approval. 

-Sanja Elieff