| Buying and selling a home is a both emotionally and | | | | and market values. The clearer your idea about your |
| financially challenging procedure. In this first part, | | | | next home is, the easier it is to work with your |
| we're going to break the house buying process down | | | | realtorand the better the end results. Use MLS listings |
| to smaller steps and provide you with a quick | | | | for potential houses and search engines for |
| checklist. | | | | neighbourhoods. A good tip for quickly finding out the |
| Ownership? - the very first thing you should be | | | | visual appearance of certain locations is to search for |
| thinking about is whether home ownership is the best | | | | geotagged photos on photo sharing services such as |
| available option. Owning a home comes with a certain | | | | Flickr. |
| set or responsibilities - amongst other it includes | | | | Location - understand the location you're planning to |
| moving the lawn, purchasing furniture (don't trick | | | | buy in. Amongst other factors, a low crime rate, |
| yourself - while older furniture might have cut it in | | | | good schools, convenient access, protected |
| your rental place, a new home incentivizes a new, | | | | boundaries and the proximity of amenities are the |
| fresh design), repairing and maintenance costs, paying | | | | ones to look out for. Talk to your neighbours and |
| property tax and mortgage payments. | | | | make sure you take a walk at both day and |
| Financing your purchase - be aware of the big | | | | nighttime and see for yourself. Watch for heavy |
| numbers that come with the purchase, including down | | | | traffic, loudness levels (nearby factories, airport, ball |
| payment and closing costs. Again, don't trick yourself | | | | parks etc.) and other unpleasant signs that might be |
| if you were renting a house before - if you can | | | | the potential downers. |
| afford 2000$ / month, it doesn't mean that you can | | | | Pick the best home in the neighbourhood - it's well |
| cover a similar mortgage, as the base mortgage is | | | | known that homes in a cul de sac have a much |
| just the beginning of the total housing costs. A | | | | greater resale value than homes located on busy |
| general rule of thumb is to add 50 percent on top of | | | | streets. If you can, pick the best available - look for |
| this amount to get a realistic assumption. | | | | extra features, age, size and curb appeal. |
| Pre-approvement for financing - get pre-approved for | | | | Professional assistance - many people decide to go |
| financing prior starting your search. This will tell you | | | | about buying the home without an agent. Don't do it. |
| your affordable price range and make things easier | | | | Work with a realtor that understands your needs, |
| when you'll find a home you like. Be aware that this | | | | and talk to him about the results of your research. |
| only sizes up your financing power and won't get | | | | He or she might be able to recommend solutions that |
| your approved for mortgage. | | | | will save you a lot of money and trouble in the end. |
| Home types - think in advance about the type, size | | | | Inspect the home - home inspection is always |
| and architectural style of your next home. Toronto is | | | | optional, but those 2-3 hours can save you a lot of |
| known about the wide variety of homes it offers, so | | | | trouble. Home inspection usually costs 300-400 dollars |
| take a look around and get the picture as clear as | | | | but can save you tens of thousands in the long run. |
| possible. | | | | Be sure you hire professional home inspectors to go |
| Research pays off - with the entire Internet at your | | | | over your home. You can find more information in |
| hands, it's very easy to start your own research and | | | | the home inspection section of our buyers guide. |
| find out about the various styles of homes, locations | | | | |