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Buying
In today’s busy, complex world, purchasing a home can be
a lot more time-consuming and complicated than other business
transactions. First-time buyers, especially, quickly discover
that there’s a lot more to buying real estate, than
deciding what vacation to take or what car or suit to buy.
Using a Realtor from the start can provide you with the sound
, effective advice and professional services you need to get
the best deal possible. Once a Realtor has a clear understanding
of what you want and what you can afford, their knowledge
can save you a lot of time looking at homes that aren’t
right for you.
A Realtor can pre-screen properties so that you should only
have to visit a handful of homes to make an informed and wise
selection.
Much of the early search with a Realtor can be done through
the Multiple Listing Service (MLS) and preliminary discussions.
As you visit and react to each home you see, the realtor will
have an increasingly better idea of what you want and don’t
want.
A Realtor will also be able to advise you on the various options
available for financing a home and tell you when to bring
in other experts such as a lender, home inspector, lawyer
and insurance agent.
What features are important to you?
Begin by listing your needs:
- Living requirements (i.e. how many bedrooms);
- Family room size.
- What you're bringing with you from your old house.
- How close to schools, shopping and other services.
- The size of down payment you can afford.
- Price range.
- It's important to be realistic when you're thinking about
a down payment and setting a price range. You don't want to be saddled
with something you can't afford. At this stage, it's a good idea
to talk things over with a real estate sale professional.
What's Out There?
The marketplace offers both resale homes and new homes. However, since
this document deals with resale homes, we will concentrate on them.
(If you're interested in a new home, talk with your salesperson.)
- Resale homes may be protected by a warranty offered by
the vendor.
- Resale homes are more likely to be in established neighbourhoods,
close to amenities and have mature trees and gardens.
- Remember, however, a resale home has been lived in. It
has been exposed to the elements for a number of years. The house
may have experienced some degree of shrinkage and settling.
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2001- 2002. GTAHouse.com.
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