Durham Region Real Estate Blog

Everyday I hear a story about buying a home that has wrong information woven into the details. I don’t think the story teller means to mislead the listener, they just don’t know any better.  It’s hard to keep track of all the rules and regulations when you are so emotionally involved with the process, so I’d like to try and shed a little light.

Buying a house is complicated, exciting and physically and emotionally draining!  In my opinion you should make certain that your finances are in place prior to starting your home search.  There is nothing more disappointing than finding the home of your dreams and then discovering that you can’t afford to buy it!  

A good first step is to check out a mortgage qualification page on line, but don’t leave things here.  Call a mortgage broker and ask him/her to have a look at your financial situation and let you know how much you can afford to spend on your dream home!  I do not recommend going in to your local bank and discussing your mortgage with a loan officer there, call someone who only does mortgages.  They are knowledgeable about mortgages and concentrate only on them. Besides, they make their living on the successful completion of mortgages so they will tell you straight up what you can and cannot afford.  And if part of your financial background leaves a little to be desired, they will tell you what steps to take in order to clear everything up so lenders will be lining up to give you money!

Once you know what you can afford you should track down a great Real Estate Agent.  Find one who  gels well with your personality and ask them to represent you.  This is a huge purchase for you so you want to find someone who you trust to look after your best interests when you are head over heels in love with a property you have just seen.  Your sales representative  should be someone who will see the real potential in a home and can advise you of the good and bad points.  Every home has some issues with it and you need someone who can point them out and tell you why you should or shouldn’t buy a particular property. 

The other reason you need a great agent is because of all the paperwork that comes with buying a home. There are offers and conditions and inclusion and exclusions and what may once have been a 2 page offer is now often 5 or more pages! Who said the computer was simplifying things for us?   Your agent will offer advise you on how to make the best possible offer so you can come to an agreement with the seller with terms that best suit you.

You’ll likely look on line for homes that interest you, but your agent will be looking too.  Our system allows us to be automatically updated when new homes are listed and we see many hours or days before they hit the public site.  Working closely with one agent will give you the best chance of seeing these new listings before thousands of people see it.  It might just be the advantage you need in order to get there and make an offer before the crowds arrive!

Do you want some more information about buying a house?  Just let me know and I’ll get you as much information as I can.

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