Found 10 blog entries tagged as home buying process.

Buying your first home is a significant milestone and a dream for many Canadians. It’s not just about finding the perfect property; it's also about ensuring you're financially prepared for this life-changing investment. Being ready to take this step involves more than just browsing listings. It requires a keen understanding of your financial standing and planning for the responsibilities of homeownership.

Credit Score and Credit History

Your credit score plays a vital role in securing a mortgage with favorable terms. Lenders use this score to evaluate your creditworthiness, determining the interest rate and the loan amount you qualify for. Regularly monitor your credit report to identify and rectify any discrepancies. Maintaining a good credit…

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Buying a home in a seller’s market can be a challenging task, especially when faced with multiple offers on the property you desire. However, with the right strategies and a solid understanding of the process, you can increase your chances of securing your dream home. In this blog post, we'll provide practical advice for home buyers, specifically tailored to the unique conditions of a seller’s market. Get ready to navigate the competitive landscape and come out on top!

Get Pre-Approved and Set a Budget

Before diving into the home search process, it's crucial to get pre-approved for a mortgage and determine your budget. This will not only help you understand your financial limitations but also demonstrate your seriousness to sellers. Having a…

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THE HOME BUYING PROCESS

The home buying process is an exciting journey filled with important decisions and considerations. From exploring various properties to navigating financing options, it's a unique adventure that involves careful planning, research, and expert guidance. Whether you're a first-time buyer or an experienced homeowner, understanding the steps involved can empower you to make informed choices and find your dream home. Let's dive in and uncover the key aspects of this significant undertaking.

Calculate your budget and begin saving for your down payment and closing expenses.

Determining how much you can afford is an important step in the home buying process. It involves carefully assessing your financial situation, including your…

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Buying your first home can be a daunting experience, but it's also an exciting milestone in your life. You might have heard about the challenges of homeownership, but don't worry, with the right preparation, you can become a confident homebuyer in no time. In this blog post, we'll explore some tips on how to prepare for buying your first home.

Set a Realistic Budget

Before embarking on your home buying journey, it's crucial to have a clear understanding of your financial situation. Take the time to review your income, expenses, and savings. Determine how much you can afford to spend on a home without putting yourself in financial jeopardy. Generally, your mortgage payment should not exceed 30% of your gross monthly income. Remember, your dream…

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As the real estate market continues to evolve, one trend that has emerged in recent years is the increasing number of millennials becoming first-time homebuyers. According to data from the Canadian Real Estate Association (CREA), mortgage-related searches by millennials have been on the rise, indicating that younger buyers are not only preparing to buy homes, but are actually making purchases. In this blog post, we'll explore some of the reasons why millennials are increasingly becoming first-time homebuyers.

Affordability

One of the primary reasons why millennials are entering the housing market is affordability. Despite high home prices in many areas, low mortgage rates have made it easier for younger buyers to enter the market. In…

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Buying a home is an exciting milestone in life, but it can also be stressful, especially when you find yourself in a bidding war. When multiple buyers are vying for the same property, the price can quickly escalate, and it can be challenging to know how to proceed. However, with the right approach, you can increase your chances of winning the bid and securing your dream home. Here are some tips to help you come out on top in a bidding war.

Set a Realistic Budget

Before you start shopping for a home, it's essential to have a clear idea of your budget. Determine how much you can afford to spend and stick to it. This will help you avoid getting caught up in the heat of the moment and bidding beyond your means.

Get Pre-Approved for a…

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While technology has certainly made the real estate industry more efficient and accessible, REALTORS® still play a crucial role in the buying and selling process. Here are a few reasons why a REALTOR® is still important:

Personalized expertise

REALTORS® bring a level of personalized expertise to the table that technology cannot match. They can provide insights and guidance based on their experience and knowledge of the local market, and can tailor their advice to each individual client's needs and preferences.

Negotiation skills

Negotiating the sale or purchase of a home can be complex, and having a REALTOR® with strong negotiation skills can make all the difference. They can help clients get the best…

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Buying a new home can be an exciting, but often overwhelming experience. There are so many factors to consider, from the location to the size and style of the home. One of the most important decisions you'll make when buying a home is choosing a real estate agent to help guide you through the process. To make sure you find the right agent for you, here are some questions to ask your real estate agent that will help you make an informed decision.

What experience do you have in this area?

One of the most important things to look for in a real estate agent is experience. Ask your agent how long they've been working in the area you're interested in and how many homes they've helped buy or sell in that area. This will give you a sense of their level…

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How do I determine the value of property when selling it ?

Ans: To determine the value of your property, you can hire an appraiser, work with a real estate agent, or research comparable properties in your area.  RE/MAX Infinity offers you high end real estate representatives to help your home from being undervalued.

What should I do to prepare my home for sale ?

Ans: To prepare your home for sale, you should declutter, depersonalize, and make any necessary repairs. You may want to consider staging your home to sell it faster. RE/MAX Infinity Realty Inc offers highly experienced agents to help you connect with potential buyer in short duration of time.

How long does it typically take to sell a property ?

Ans: The length of time it takes to…

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Buying your first home is a major life milestone and possibly one of the biggest decisions you’ll ever make, both from a financial and long-term commitment perspective. And while being ready for every possible outcome isn’t possible (not to mention unrealistic!) it is possible to prepare for potential pitfalls you may run into during the home buying process. From identifying and making the most out of saving opportunities, to explaining how working outside of your budget will cost you in the long run, here are some common pitfalls first-time buyers tend to experience, and how two REALTORS® recommend avoiding them. 

Image via: Photo by Green Chameleon on Unsplash

1. Attempting to manage without professional assistance 

For Regan O’Rourke, a…

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