There are at least ten steps to buying your new home that you will need to focus upon. These include whether home ownership is right for you at this time, along with being financially ready. You need to know all the costs. To find the right home, decide whether a condo, townhouse, duplex or single family detached is what would suit you best, and what you can afford.
Most importantly, you will need to find a professional, honest REALTOR® whom you can trust -- a friend who cares about you and your needs, someone with great listening skills, compassion, humility, integrity, and a good communicator and negotiator with whom you feel very comfortable.
For further details please check the Canada Mortgage and Housing Corporation website at
http://www.cmhc-schl.gc.ca/en/co/buho/hostst/
Step 1 — Is Homeownership Right for You?
Buying a home is one of the biggest financial and lifestyle decisions you will make, so it pays to make an informed decision by first looking at the main advantages and disadvantages of homeownership. |
Step 6 — How Can You Find the Right Home?
If you have decided that you are ready to start your search, this Step offers information on ways to find the home that is right for you, useful tips for your search and Home Hunting worksheets. |
Step 2 — Are You Financially Ready?
In this Step you will find a number of simple calculations that will help you evaluate your current financial situation and determine how much house you can afford and the maximum price that you should be considering. |
Step 7 — Ready to Buy?
Once you find the home you would like to buy, you will need to present the vendor with an Offer to Purchase or Agreement of Purchase and Sale. This Step describes the Offer to Purchase process. |
Step 3 — How Much Will It Really Cost?
After you have calculated the maximum home price you can afford, you will need to calculate the up-front costs and expenses associated with buying a home to make sure you are financially prepared. |
Step 8 — The Final Steps
Describes the final steps in the homebuying process: things you will need to do on closing day, and how to hire and work with a moving company. |
Step 4 — What Should You Buy?
Before you start searching for a home you need to think about your current and future housing needs and what characteristics are important to you in a home. |
Step 9 — Is There More to Homebuying?
The real financial responsibilities of homeownership begin when you take possession of your new home; you will need to budget for mortgage payments, ongoing operating costs and an emergency fund. |
Step 5 — What Professionals Should You Call On?
This Step describes the roles played by the professionals you will call on in the homebuying process: real estate agent, mortgage broker, lawyer/notary, inspector, insurance broker. |
Step 10 — Tips on Home Repair and Maintenance
This section offers useful tips for new homeowners on home repair, maintenance and renovations, and discusses the importance of security and fire safety. Also includes a practical Maintenance Calendar. |
