If you will require a mortgage, we always recommend becoming pre-approved before beginning your home-buying process. We can connect you with professionals who will help you find the right mortgage for you, whether it is at your current financial institution or another. Once you are pre-approved, it will make the search for your new home much simpler, as we can target the right homes and help you make a better offer. You will also save time and have less pressure when the time comes to finalize your purchase.
As with any major investment, knowing the total costs for your condo is important to avoid unwelcome surprises. We will make sure you understand your costs at time of purchase as well as your ongoing costs. For instance, if you hear of someone being surprised by a large expense, it’s likely the Property Transfer Tax payable at time of purchase.
While it is useful to know your maximum budget, it is more important to identify your comfortable budget. Purchasing a condo that overextends you will cause stress and potentially damage your financial health. We will remind you to plan for future expenses such as getting married or changes in income.
We help our clients to prepare for the future and avoid unwelcome surprises.