Buying Real Estate For The First Time
Financial stability is only one reason for buying a home. Home ownership today is also a hallmark of success and a home provides a warm centre to life.
Whatever your reasons for buying, be sure to go about it the right way. You don't want to wake up a few weeks after the largest single purchase of your life and realize you've made a big mistake.
Don't Depend On Blind Luck
1) Priority One is to enlist the services of a Realtor. A Realtor will help you identify what you want and take you to homes and neighbourhoods that reflect your lifestyle, needs and price range. A common mistake to avoid is to deal directly with the Realtor who is Listing the home you may have an interest in. This agent is legally bound to represent the best interests of the home seller's NOT you, the Buyer.
Don't cost yourself thousands of dollars on the purchase price of your first home because you don't know where to get good advice or worse... don't rely on bad advice.
The problem for most first time buyers is that they don't know where to turn for advice, don't know who to trust and so, they end up making some very expensive mistakes.
2) Make sure you get a good Mortgage Broker to shop for the best mortgage and mortgage rates. This costs you absolutely nothing and can save you thousands. You must have the financial wherewithall to buy real estate. Get your financial ducks-in-a-row FIRST. A mortgage broker can do this for you, painlessly and quickly. Once your new mortgage is 'approved' by a lending institution, you can now go out into the market place with confidence and choose the property that's right
for YOU!
3) Plan ahead... where and what you buy will affect your life for as long as you own the house. Make a 'Buyer's Blueprint' based on your needs and wants and what is available in the marketplace.
4) Decide where you want to live...do you like life in the city? Or would you be happier in the suburbs?
What's Next?
I could list a few more important things to consider (Legal Costs, Property Transfer Tax, CMHC, etc), however, I'd like to take you back to Priority One...YOUR REALTOR!
As your Realtor, I am a professional, with all the resources you need at my fingertips. I will be able to narrow down your search by first reviewing your needs and then your preferences. Once the type of and pice range of the home is determined, I can call up a list of homes that fit your needs and show them to you. As mentioned above, there is a lot more to understand regarding purchasing real estate for the first time, however, it has been my experience that your interests are best served by contacting you directly to discuss the most important purchase of your life. This is the only way to be sure that you are making the right decisions.
The Best Deal In Town (My Professional Services)
It is important to remember that I work for a commission and I can earn that commission as your Buyer's Agent, on any home that you purchase. It costs you absolutely nothing to enlist my professional services as I will share the commission paid by the Seller. I can show you any home that has a sign in front of it, and many that don't have signs. It is natural for buyers to drive around neighbourhoods just to see what's available. Many first time buyers think that they should call the realtor whose name is on the sign. when they see a home they like. This is not in your best interest. Remember, you need an agent working and negotiating exclusively for you.
I am a Certified and Registered Prudential Relocation Agent, specializing in Buyer's Agency. This means that I have extensive experience working with Buyers, particularly First Time Buyers. It is my hope that you will consider my professional real estate services to help you find your first home. I am confident that I can negotiate the best price on your behalf regarding any property you choose to buy and make your purchase worry free!
One last thought... owning your own home beats the heck out of renting, (I'd be happy to show you how). I encourage you to contact me as I am here to help you in any way that I can.
Thank you,
GRAEME MULSKI
FREE Money For First-Time Buyers
The key to that fabulous house warming gift from the Canadian federal government: The Home Buyer's Plan, better know as the "RSP Program." It lets first-time buyers, including anyone who has not owned a home in the last five years, borrow up to $20,000 per spouse from their RSP interest-free to buy a home, to be repaid over the next 17 years.
But only funds that have been in your RSP at least 90 days can be withdrawn. To get that FREE cash, take advantage of your unused RSP limit. Say you've got $3,000 in unused RSP contributions, have saved $3,000 for a down payment, and plan to buy a home in the next few months.
THE PLAN: Deposit that $3,000 into your RSP
Keep it there at least 90 days and remove it under the Home Buyer's Plan when you buy your house. If you're in the 40% tax bracket, you'll get a $1,200 income tax refund when filling your next tax return, simply by parking your down payment money in your RSP for at least 90 days.What a strategy!
