Buying a Property

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WHAT YOU NEED TO KNOW

Buying a property is one of life’s biggest decisions and most exciting adventures. We’re all property owners and investors personally. We walk the walk and talk the talk, and we have a wealth of resources at your disposal.

THINKING ABOUT BUYING A PROPERTY?
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HERE ARE 5 REASONS TO WORK WITH US IF YOU'RE THINKING ABOUT BUYING A PROPERTY.

No.1
We live in Toronto. We know the neighbourhoods.
No.2
We are skilled negotiators, and we have done thousands of transactions. We will ensure your needs are met, and we will ensure you get the best deal possible.
No.3
We are highly ethical, approachable and hard working. Your best interests are our top priority.
No.4
We have a wide array of connections in the business that we are happy to share, including inspectors, contractors, downsizers, architects, designers, and more.
No.5
Most importantly, we listen to you.

Question & Answer

A.
There are so many factors that play a role when you’re considering where you should buy. Location is one of them, and it is an important one both for quality of life and resale in the future. The best way to decide where to buy is to ask yourself what is important to you. If you are thinking of having a family or have one now, school districts are important. Get to know what schools are available for the district and do some investigating on your own. Do you want to have easy access to restaurants and shops? Do you have a dog? Some areas have great dog parks nearby which will make you and your pet happy. Ask yourself if you are ok commuting to work by car or want to live closer to your office. Again, this impacts your quality of life. You may be able to buy a much bigger home, but it may mean you need to travel longer to get there. Basically, it all comes down to personal choice.

A.
Again, this all comes down to lifestyle. Some people are homebodies; they do not need to spend money going out to restaurants or travel. They truly love spending their time at home and can spend more towards the cost. Others want to have money left over to travel, shop, or go out to restaurants.

A.
There are a number of options for buyers. Typically, a good downpayment is 20%. If you have less than a 20% downpayment, your lender will require you to get insurance through a company such as Canada Mortgage and Housing Corporation. First time buyers purchasing homes or condos under $1,000,000 can sometime purchase using a minimum 5% downpayment, though banks will want the mortgages insured in the event that you default (i.e. don’t pay your mortgage). First time buyers can also utilize something known as The HomeBuyer’s Program, which allows them to take out up to $25,000 tax-free out of their RRSP to finance the purchase of a home or condo. This is then paid back into the buyer’s RRSP over the course of 15 years or less.

A.
Home inspections are a great way for you the buyer to calculate future repair costs. We do recommend having them done. If you are involved in a multiple bidding situation, the offer presented to the buyer with the least conditions will be favored. By doing a pre-inspection before bidding on a property, you will feel much more confident in your decision and can budget appropriately.

A.
There are several ways in which you can finance the purchase of a home or condo. Mortgage brokers have access to multiple different lenders and can guide you through the process. They can also provide you with a pre-approval, so that you know how much you can spend. Other options are banks and credit unions. We always suggest that you explore a number of options in order to receive the best service and value. We are happy to introduce you to mortgage professionals and bankers we trust and have done business with in the past.

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