The BIG 10 – ten steps to owning a home.

Congratulations, you’ve started looking for a place to call home. Let me be the first to tell you, it can/may be overwhelming and stressful. But with a little planning, an educated team (Realtor, Broker, and Financial Advisor), and preparation, I’m confident you will find a home that’s a perfect match. Follow the steps listed below, and before you know it, you’ll have a place to call your very own.

Put together a Budget

Constructing a budget allows you to plan how much money you will need to set aside for your down payment and additional closing costs. You must also determine what your maximum purchase price is. Give me a call, and I can set you up with information sheets to help with this process.

Know your Mortgage Options

This is where someone like me comes in. I’ll can get you pre-approved, and discuss what amount to borrow to fit your budget/lifestyle.

Choose a Realtor

A Realtor you can trust is key. Let me say it again, a Realtor you can TRUST is key. The best Realtor is a combination of a personal advisor, consultant and negotiator. He/she will show you homes that match your criteria, help guide you through the home buying process, negotiate the best possible price for your home ie. Save you $$$, and deliver and explain to you your closing documentation.

Start looking for a place

* Create a wish list – I am a true believer in positive thinking. Put it out there, and watch it come back to you.

House hunting tends to be a lengthy process. In order to save yourself time, chat with your Realtor before you go out to look, and make sure you’re all on the same page. Think about your needs, what you want for the future, and your current lifestyle. Most importantly…STICK TO YOUR BUDGET. A helpful tip is to bring along that wishlist you created.

Write an Offer

Your Realtor will present your offer to the seller. This document includes the price, conditions, deposit and closing date. Then it’s up to the seller to accept, reject or counter your offer (also called “signing back” the offer).

Home Inspection or New Home Warranty

In today’s market, specifically in the lower mainland of BC, some don’t have time to have a home inspection done on the property they’re looking to purchase. It’s currently too competitve of a market is some areas. But if possible, do one, and have your Realtor write it into the contract that the purchase is based on a clean Home Inspection report. This will save you from moving into the home of your dreams, only to find out it needs a brand new roof, or new flooring. This also allows you to negotiate any repairs found with the seller before the deal closes.

What’s a New Home Warranty?

New Home Warranties are typically used when a buyer purchases a brand new home. The builder provides a New Home Warranty to cover things like deposits and completion dates, along with labour and materials for at least 1 year after the home is built. It also protects the buyer against structural problems for a minimum of 5 years, sometimes 10.

Finalize the Deal

You’ll meet with your Broker to complete the mortgage process, and then head on over to your lawyers to finalize other key details like insurance, purchase conditions, and the results of the title search.

Prepare to move

Get a head start on organizing the utilities and other services like phone, cable and Internet. If you’re renting, remember to give your landlord notice. Also, forward your mail to your new address, and hire a moving company or, rent a Uhaul. If you prepare these things well in advance, it will help your transition into your new home.

 Closing Day

Sit back, and congratulate yourself for all your hard work; order a pizza, and remember to strike a superman, or woman pose at your front door once you’ve unloaded everything. Congratulations! You just bought yourself a new home.

Feel free to reach out to me via email, or by phone if you have any questions.

All the best,

-D