Buyers: How to Prepare for Purchasing a Home

Buying a property isn’t something you do every day.

It’s perfectly normal to need a reminder of the key steps to complete your project successfully.

Mortgage Pre-Approval

Your first step is getting a mortgage pre-approval from a financial institution or mortgage broker. This sets your budget before you start visiting homes — and shows sellers that you’re a serious buyer!

Defining Your Search Criteria

Location

Neighbourhood
View
Proximity to services

The Property

Property type and style
Square footage
Number of bedrooms and bathrooms
Garage, pool, fireplace, foundation, basement

Costs to Plan for (approximately 5% of purchase price)

One-Time Costs

Down payment
Professional fees (notary)
GST/QST
Title insurance
Home inspection fees
Land transfer tax (welcome tax)
Moving costs and renovations

Monthly Costs

Mortgage payments
Utilities
Maintenance
Home insurance
Property taxes

For any additional questions, don’t hesitate to contact us!