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Getting Started

Getting StartedThe first question you’re bound to ask is, “How much can I afford?” and that depends on a number of factors; Your selected location. Is your mind set on a specific area? Downtown? The suburbs? Or even a rural setting? Your preferred type of home. Detached, semi, duplex, high-rise, linked, townhouse, new, or resale? There are a variety of home styles you will want to explore.

Your income. After all, it’s not just the mortgage you have to take into account. There are property taxes, utilities, and in some cases condo or strata fees.  As a general rule of thumb, your monthly home-carrying cost should not exceed 30-35% of your income. Market conditions. Is it a buyer’s, seller’s or balanced market?

There are also additional costs to keep in mind.  It’s a good idea to work out exactly what you want and what you can afford before you begin the search. Be specific! After all, you don’t want to suddenly come to realization that your dream house have come with a nightmare of bills and expenses.  Stick to looking at houses in your price range.  The more you’ve thought it out, the better your agent can meet your needs. A part of deciding just what you can afford can be accomplished by meeting with you bank or a mortgage broker and negotiating a pre-approved mortgage.  There are many types of mortgages and many different terms.  Research all of your options.  This ensures that there are no surprises once you’re ready to make an offer.

Once you’ve figured out your monthly expenses and what you can afford, you can start your search.  It could happen that the first home you see is the one you want, or you might look at home after home with none of them catching your interest.  Rest assured, the home you’re looking for is out there, and when you find it, you’re ready to make an offer.  If your offer is accepted, the next steps are closing the sale and moving into your new home. Purchasing a home is easy once you put your plains into action.

Jennifer Ziegler
Sales Representative
Phone: (519) 741-0950
Mobile: (519) 807-9416
Contact via Email