Considering buying a home? Here’s how we will work for you to ensure that purchasing your new home will be a positive and stress free experience.
- Work to get you the property you want at the price you want to pay;
- Listen to and meet your needs, your preferences, your concerns and your requirements;
- Get to know you so that we are sure we can work together and that we can look at available properties through your eyes;
- Provide you with detailed current information about the Real Estate market in the area, and specifically on homes which may meet your requirements;
- Show you various areas either of your choice or that we think may meet your needs.
- Work with you in selecting properties to visit and inspect and arrange showings of them;
- Advise you on and assist you with determining a successful offering price;
- Advise you on the total cost of purchasing a particular property including Land Transfer Tax, approximate legal fees;
- Advise you on any known ongoing costs such as municipal taxes, special assessments or levees, maintenance fees etc. to ensure affordability of the property;
- Explain in detail all contracts in the purchase of a home and draft for your approval any offers you may wish to make. We will also advise you on conditional clauses you may wish to add to an offer for your protection;
- Present and negotiate all offers to purchase on your behalf;
- Keep you completely informed on all aspects of your offer until completion;
- Follow-up and handle any concerns you may have throughout the process of purchasing.
A. If you currently own a home you will need to know its current market value. This is normally quite different from a Tax Assessment Value. We will, free of charge and without obligation, produce for you a written report on the approximate amount you can expect to sell your home for. Such report will be based on a Comparative and Competitive Market Analysis and is based in part on current properties for sale, and more importantly the price achieved and time on market of similar properties over the past six months to one year.
B. Prior to starting your search, if you plan to borrow money to purchase a property, it is advisable to consult your lender, bank or mortgage broker. They can ascertain approximately how much you will be able to borrow based on your current financial position. This, combined with the amount you have available for a down payment, will give you an idea of how much you can make available for a purchase.
C. Research the overall affordability of the property you are considering. The “28/36” rule is a good guideline. It states that your monthly housing expense should not exceed 28% of your gross income and your total dead load should not exceed 36% of your total gross monthly income;
d.First time home buyers, at time of writing, pay either no or a reduced amount of Land Transfer Tax in Ontario. Land Transfer Tax may be changed at any time so it is advisable to check rates and regulations to be sure of the rules.