Looking To Buy a Home in GMA?
There is a lot more to buying a home than first meets the eye, but if you take it step by step the real estate buying process can be enjoyable and exciting.
First Time Home Buyers Guide
If you are a first time homebuyer, the real estate process may seem overwhelming. With so many houses for sale and the current real estate market conditions in GMA, it is difficult to know where the best real estate deals are. Our First Time Homebuyer’s Guide will steer you through the real estate buying process. It covers topics such as:
- Benefits of home ownership.
- Are you ready to buy a house?
- How much can you reasonably afford?
- Budgeting for a down payment, mortgage payments, property tax and heating costs.
- Some costs associated with buying real estate.
- Questions you should you ask when assessing home features.
- Location, location, location. Here are some factors to consider when looking at homes for sale.
- Noise and privacy issues you need to consider.
- Benefits of purchasing a new home vs. a resale home.
- Money saving tips for when shopping for your dream home.
Condo Buying Guide
Should you buy a condo? As single-family home prices have risen across GMA, many consumers have been looking to condominiums as an alternative. First time buyers like the lower prices, which makes entry into the real estate ownership market easier. Seniors like the low maintenance aspect and the ability to be in a community catering to their lifestyle. Others like the security advantages that the building provides, especially for those who travel frequently.
Whether you are a first time homebuyer, a senior or somewhere in between, check out our Condo Buyers Guide before looking at homes for sale. This guide outlines the advantages and disadvantages of condo ownership, and explains what you need to know and questions you should ask your real estate agent before buying a condominium.
The Buyers Report Card
We understand the overwhelming amount of details that buyers need to retain when viewing homes. To help simplify the process your agent can provide you with the Buyers Report Card so that you can rate the features of the home and add your personal comments as you walk through. Ask your agent about the Buyers Report Card today!
Check out our Mortgage Calculators section and determine if homeownership is the right move for your pocket book.
- Calculate your mortgage payments.
- Discover what you can afford.
- Calculate Land Transfer Taxes.
- Determine if you should rent or buy a home.
- Discover how you can pay off your mortgage faster.
Before Writing an Offer for a Home for Sale
When looking for homes for sale, and definitely before writing an offer, you should be fully aware of all the expenses involved with buying a home. Some expenses are one-time costs and others are continuous costs. Check out our quick reference list before putting pen to paper. For example, some typical home ownership expenses are:
- GST and PST
- Land transfer tax
- Property taxes and adjustments
- Strata fees (if buying a condo or town home)
- Property insurance
- Home inspection fee
- Legal fees for registering the property
Six Mistakes Home Buyers Make
There are six common mistakes homebuyers make especially when buying their first home or condo. These common home buying mistakes are:
- Not getting pre-qualified for a mortgage.
- Not shopping around for the best mortgage terms.
- Not getting a home/ condo professionally inspected.
- Not using a professional agent.
- First buying a new home and then trying to sell your old home.
- Not knowing the full cost of buying a home.
Check out the Six Mistakes Home Buyers Make section for more details about these common real estate buying mistakes and how to avoid them.
Start your search for homes for sale in of Montreal, QC, Canada.
FYI: I'm hosting a 1st time home buyers seminar in collaboration with Caisses Desjardins (KASA). I've attached the information poster if you are interested in learning personally from the team of experts. Places are limited - it includes wine and canapés/light dinner (West Island Restaurant). Let me know so I can reserve a place for you. Thanks!
Happy house hunting!