Buying Your First Home in Toronto
Congratulations! You’ve decided to take the plunge and buy your first home. Whether you’re a first-time homebuyer, or a new immigrant to Toronto, buying a home is an exciting, but often overwhelming experience.
It can be hard to know where to start and how to get the best deal for your money. But have no fear! Read below and you will learn the most important steps you need when looking for your first home in and around Toronto.
Pre-Approval:
Do not underestimate the power of Pre-approval. You need to do know what you can afford. Know your finances and first, get pre-approval for a mortgage. A Pre-approval gives you confidence on what is your threshold. It is very important to stay within your budget when house shopping.
Explore:
Get a feel of different cities and neighborhoods in and around Toronto that have homes that fit both your lifestyle and budget. Go to a grocery store, cafe to see what kind of people live there.
Then, you can look at websites like Zolo, Realtor.ca or HouseSigma to see what kinds of houses are available and how much they cost.
Find the Right Professional Real Estate Agent
It is important to find a good real estate agent when you are ready to buy. Now, you are wondering what makes a good agent. Here are a couple of things.
- They should have experience and able to answer your questions.
- You should feel comfortable with them and not feel pressured at all.
- It is important that you feel supported as this will be one of the biggest purchases of your life.
- They should also be able to help you with finding a mortgage broker, lawyer or any professional needed for the transaction.
Asking your friends and family for recommendations helps. You can also look online for local agents who have good reviews from people they have helped before.
Now that you understand the first steps involved in buying your first home, there’s only one thing left:
Get out there and find your perfect home! Good luck!
If you need a more detailed checklist, send me a DM and I can send it over to you. If this is all too much feel free to reach out to me (book a call) and I can take care of all the above for you.
