Purchasing your first home can be overwhelming with all the choices and decisions to make, but it should also be an exciting time. As your Real Estate professional, I will work with you to make the process as smooth and enjoyable as possible.
Some questions you may have
Why should I use a Real Estate professional when I can just search realtor.ca (formerly mls.ca)?
- It can take a week or longer for a listing to appear on realtor.ca, but as your Real Estate professional, I will have access to the most up-to-date and immediate listings. Waiting for a listing to appear on realtor.ca can sometimes mean the property is already sold before you've had a chance to look at it.
- By using a Buyer Agent, you ensure that you have someone who is acting in your best interests, and will work to get you the best deal. Remember, the listing agent has a primary obligation to the Seller, not you.
Do I have to pay any Real Estate Commission?
- Normally the commission is paid by the Seller of the property, so my services cost you nothing!
How much can I afford?
- Some of the criteria to consider are the amount of your downpayment, gross household income, and what kind of mortgage you qualify for. Speak to me about getting prequalified for a mortgage or click here.
What if I'm buying new, do I still need a Real Estate professional?
- Many new home builders offer special VIP Preview events for Real Estate professionals with special pre-opening pricing and promotions. Click here for more information.
Are there any government incentives?
- You can apply to receive a rebate on the Ontario Land Transfer Tax for up to $2000. For buyers in the city of Toronto, a rebate is also available for the Toronto Land Transfer Tax. Ask me for more details.
- The Home Buyer's Plan allows you to borrow up to $25,000 from your RRSP without a tax penalty to be used towards the purchase of a first home.
- In 2009, the Government of Canada introduced a Tax Credit for First Time Home Buyers of up to $5,000 on a qualifying home acquired after January 27, 2009
How can I find out more about an area I like?
- You'll want to know information about a new area, such as transportation, schools, community centres. I can help you gather all this information.
How much should I set aside for a deposit?
- Typically a deposit of five to fifteen thousand dollars is suggested. A larger deposit will often make an offer more appealing to the Seller
What other costs are associated with buying a home?
- Home Inspection
- Mortgage Loan Insurance
- Legal Fees
- Property Taxes
- Property Insurance
- Land Transfer Tax
- Land Survey and/or Title Insurance
- GST (resale homes are exempt)
- Movers