10 Tips to know before buying your home in Canada

December 20th, 2015 Posted in Economy|Mortgage 101

10 Tips to know before buying your home in Canada






Canada Real Estate Home Buying Tips

To streamline and minimize blog maintenance, I will be discontinuing maintaining the Canadapersonalfinancewebsite.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on Feb 18, 2010

The picturesque beauty of Canada normally draws home buyers from all walks of life. Toronto is a vibrant city with lots to do. Again, living in the Yukon could be an adventure. Even living in Montreal would be a fascinating experience because it is one of the largest cities in Canada. You’re sure to always have something to do and see there.

Here are a few tips when looking for your new Canadian residence. Make the experience a joyful one.

1. Know what you want: It is best to get a general feel for what you’re looking for; do you want a home that has a certain amount of square footage?  A fixer upper? Two or three bedrooms, ranch style, garage? These are all things you should already have in mind before you buy.

2. Know the city you want to live in: If you work in a city like Toronto, it would not make sense to buy a home that is outside of the general area. Keep in mind if you’re comfortable in your job and feel secure there. You can choose a home close to your work place in order to cut down on transportation costs. If you choose to live in a large city like Montreal, you know you will find it easier to locate another job if that is needed.

3. Find a good realtor: interview several realtors and make sure the one you choose has a good feel for the area where you’re looking to find a home. Always engage estate agents with real that are well known especially those of them with proper licenses.

4. Settle for the best: know what your resources are and only settle for the best that your money can buy.

5. Keep in mind the travel aspect: know how far you are willing to travel to and fro with regard to your work. Again, you need to keep in mind the weather that Canada is best known for.

6. Know the area: Make sure you are comfortable with the area you’re looking into for your desired home. Study well and do your homework so you will be satisfied in the end.

7. Do your research: Keep in mind the schools and public transportation system of the area you’re moving to. If you want to be close to shopping or night life, make sure you do your research well.

8. Home inspection– make sure you have your inspections done before making an offer, things like mold and termites are very concern in Canada and you will want to be prepared and not taken by surprise with one of these issues later down the road.

9. Obtain a Mortgage– If your qualified for a loan or mortgage, go for it. This is usually a great avenue to have enough resources for your new home. Just make sure you have a repayment plan put in place in order to forestall a future foreclosure.

10. Moving in– Enjoy your moving in experience and get the help you need.

In all, Canada is a marvellous place to live in and choosing any home should be a wonderful experience. Study about Canada or the area you’re looking into for your new paradise and enjoy the experience of your new home as you get the desired one.

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