Five Tips To Keep In Mind When Buying A New Home

Author: Jennifer Charles Mortgage Agent | | Categories: First Time Home Buyer Mortgage , Home Purchase , Investment Property Mortgage , Mortgage Agent , Mortgage Renewal

Blog by Jennifer Charles Mortgages

Buying a new home is one of those life’s biggest milestones you can be proud of. It is a significant financial commitment and probably the largest one you’ll make. However, before purchasing your dream home, you will need to determine whether it’s the right time to do so and if you can afford it. You need to keep in mind various factors and be familiar with the buying process of your dream home.

Jennifer Charles Mortgages wants to help you with the home buying process and be armed with the right information as you shop for a new property. To do so, I have outlined five important tips to ensure you buy the perfect new home.

Tip #1: Get pre-approved
Getting a mortgage pre-approved will give you an idea of how much house you can afford. Also, a pre-approval lets a seller and a real estate agent know that you have the finances to purchase a home.

Tip #2: Know the various options available
Finding the right home isn’t an easy task. You probably want to do some research and look for homes that you’re genuinely interested in. Get an idea of what similar houses have sold for, the house’s sales and rental history, and even an estimate of what the home is worth today. By taking time and doing the necessary homework, you’ll be able to select the best property for you and your family.

Tip #3: Have an honest realtor
Many aspects of buying a home require expert help. Therefore it’s better that you choose a professional realtor who can send you listings that will fit your particular needs. Ensure you hire a reliable agent who will have your interests in mind and help you with strategies during the bidding process.

Tip #4: Speak to a mortgage expert
To understand the mortgage process, you will need to speak to a specialist. A mortgage agent will line up a list of mortgage options with the best interest rates and conditions to choose from so that you’ll ultimately get financing that will help you purchase your dream home.

Tip #5: Know what your costs will be
It is obvious that you shouldn’t buy unless you are aware of all the costs of purchasing a property. This is an important step you need to take before you even start looking for a home. Keep in mind your income, debt, and expenses affect what you can afford. And also, note the extra cost, such as lenders’ mortgage insurance, loan fees, stamp duty, home inspection, and so that you will need to consider when finalizing your budget.

For more tips when buying a new home, reach out to Jennifer Charles Mortgages. As a leading mortgage agent serving the GTA and Durham region, I specialize in all mortgage financing types and will provide you with unbiased advice and get you the best product for your needs. You are my customer, and I work for you and not the bank! My services include mortgages for first-time homebuyers, mortgage refinances, debt consolidation, commercial mortgages, spousal buyouts, etc. I serve clients across the Durham Region, GTA, and the rest of Canada.

To learn more about my mortgage service, please click here or get in touch with me by clicking here


Back to top of page