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    Dan Sadeh

    Sales Representative

    Royal LePage Signature Realty, Brokerage

    First Time Buyers

    Buying a home or condo for the first time can be a daunting task. It will most likely be the largest purchase you have ever made. There is a lot to consider. First off, consider hiring your own realtor (ME :)), one who is working for you, the buyer, not the sellers interests to walk you through the entire process. If you want to start the search on your own for now to see what’s out there, here are some of the steps involved in purchasing a home or condo.

    Professional Realtor 

    First off, consider hiring your own realtor (ME :)), one who is working for you, the buyer, not the sellers interests to walk you through the entire process. Click here to see why you should hire a buyer agent.


    Meeting with a mortgage broker and find out how much you can afford to pay for a home, knowing your options before you start shopping will set your expectations and allow you to focus on your buying needs. Also take note of special tax rebates available to first time buyers as well as the ability to use your RRSP towards your purchase. Click here to find out more.


    After discussing your financial situation with a mortgage broker, you would get a pre-approval letter from a bank or financial institution. Having a pre-approval in hand will make you as a buyer much more attractive to sellers. It shows that you have taken the time to prepare, are serious buyers and are qualified. The pre-approval also helps you avoid disappointment when shopping for a home which may be out of your price range.

    Needs and Wants

    If you have just started your search you will definitely want to make your lists right away. If you have already started looking you’ll know how important it is to have lists. First make your needs list, this should include the style of home, the amount of bedrooms, bathrooms, parking spots, etc. Anything that would be a deal breaker. Next make your wish list, these are things that would be nice to have but more of a bonus. In Toronto this could include parking, dens, outdoor spaces and finished basements, etc. It’s up to you but make the lists to reference. As you go shopping for properties you will start to see what is realistic. You may find yourself changing some of your items from your needs list to your wants.

    Start Shopping

    Once you start your home buying search, keep a log of each property you go see and see how how it fulfills your wants and needs checklist. If you need to try and take video and pictures of the property to be able to reference it once you want to make your decision. As you view properties you like, keep the following in mind:

    Location:  Look at a potential property as if you are the seller.  Would a prospective buyer find it attractive based on school district, crime rate, proximity to positive (shopping, parks, freeway access) and negative (abandoned properties, garbage dump, source of noise) features of the area? Remember this is your first home and will most likely need sell it at some point down the road.

    Visualize the home empty and how you would want to decorate it:  Are the rooms laid out to fit your needs? Is there enough light?


    Be Objective:  Think with your head when buying a home.  Does this home really meet your needs?  Don’t make a hurried decision that you may regret later.

    Offer Time

    You have found a property which meets your needs. Now it’s time to put in your offer.  Here’s where it can get tricky and you need a professional to help you through it. Depending on the situation, you want to present an offer which is well thought out and enticing to the seller. Make sure you include inspection & financing contingencies in your written offer. Have the property inspected by a professional inspector. Request anywhere from 1-3 property re-visits prior to close and for one walk-through to take place within 24 hours of closing. Make sure that right before closing the house looks the way you purchased it without any damage or missing items such as lights or appliances.

    Please contact me or call me directly to discuss any of these matters in further detail.

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