The home buying process can be stressful to say the least, picking the right neighborhood followed by knowing which type of home is the right choice for your family can be a daunting thought. Once you have figured that out you are left with an abundance of paperwork that needs to be understood prior to jotting your name on the dotted line.
The home buying process can wear you down and this is how mistakes can happen. Here are some tips to help avoid any errors.
Just because a friend of a friend recommended someone to be your agent doesn’t mean they will be a good fit personally or professionally. Your ideal agent should also have a proven track record of excellent service when working with both buyers and sellers; it’s essential to have an agent who is familiar with the law of the land in order to help you assess fair market value of potential homes properly. In today’s environment it’s critical that you have an agent who is up to date with the latest technology; otherwise they could be missing out on finding you the home of your dreams.
Picking the Right Mortgage Product:
A great mortgage is one that you can safely afford and is also the most economical overall. So how do you get one? You have to research and interview lenders and ask specific questions relating to terms that you want in your loan. Picking the right amortization period that will help in becoming mortgage free sooner rather than later is just as important, after all having a mortgage shredding day is the goal.
Piece of mind with the Home Inspection:
Determining whether or not your dream home has defects is absolutely vital. That being said, you need a quality professional to take a detailed look at your home so you don’t foot the bill for something the seller “forgot” to mention. It can be difficult to land a good inspector; a wise place to start would be with friends or family members that have prior experience with someone. If you don’t have any referrals you can try the internet or phone book and call to inquire about the level of experience. You want someone who is familiar with the type of home you’re buying, and ideally someone who does it full time. Also be careful of bringing in a contractor who offers to fix the defects they point out; they’re could be trying to drum up some extra business for themselves. I have always recommended Carson Dunlop as they are of the most reputable companies out there, and they inspect both Toronto condos and older homes in the downtown core.
It's important to remember that you are in control as the buyer, being picky when searching houses for sale in Toronto is your obligation and right! Do not get bullied into making decisions that you are not comfortable with and take your time and ask lots of questions to anything that may not make complete sense to you.