You should already have saved some of your down payment and you should be good at managing debt like credit cards or student loans. A mortgage is a financial responsibility that also requires constant upkeep.
Use this simple equation to consider what you can expect after you’ve saved for your down payment. The cost of buying a home = one time costs (down payment, legal fees, inspection fees and taxes) + monthly costs (mortgage, utilities, maintenance, insurance and property taxes).
First, decide where you want to live (urban, suburban, rural) and then decide which neighbourhood suits you best and what type of home (detached, attached or apartment) you want. Whether or not the property is new or resale may also affect your costs.
There are many ways to find a REALTOR®: drive through neighbourhoods that interest you and jot down names, go to open houses, look at advertising, ask friends and family if they have worked with a REALTOR® they like. Interview two or three and pick the one you like best. [button URL=”http://helenyerealty.com/contact-surrey-real-estate-agents-helen/”]选择您最喜欢的方式联系我[/button]
REALTORS® run an incredible search tool called the Multiple Listings Service® (MLS® for short) which contains information on property listings. Your REALTOR® can send you listings that fit your criteria and together, you can draw up a short list and visit a handful of homes to make an informed and wise decision.
It’s the age-old question, do I sell my home before I buy, or do I buy my new home before I sell? It’s natural to want to buy your new home first so you have the security of knowing where you’ll be living. But there are advantages to selling first, buying later.
A mortgage broker may be able to get you the best possible rates. A notary public or a lawyer will help you understand the many legal documents that come with buying your home. A home inspector can save you from unpleasant surprises when you move in.
REALTORS® are expertly trained and will prepare your offer for you. For some of the terms you’ll find in the documents, visit our Words You Need to Know: Real Estate Terms section for help. If you have any concerns or hesitations, ask your REALTOR® to explain.
There are hundreds of banks, credit unions and other lenders. How do you select which one is best for you? Now is not the time to be money-shy! Talk to your financial institution and call around to others. Ask friends, family and colleagues. REALTORS® are very knowledgeable about mortgages and have lots of good advice and they may be able to refer you to a mortgage broker.
You offer has been accepted! Great news! Your REALTOR® and notary public or lawyer will do most of the closing work. But make sure to ask about any conditions of the agreement that require immediate action on your part. Before you know it, you’ll be handed the keys to your new home.