Frequently asked questions

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How much money should I have saved before buying my first home?: It's recommended to have at least 20% of the home's purchase price saved for a down payment, but it is possible to be approved with as little as 5% down payment. Additionally, you should have enough savings to cover closing costs and other expenses associated with buying a home.
Should I get pre-approved for a mortgage before looking for a home?: Yes, it's highly recommended to get pre-approved for a mortgage before looking for a home. This will give you a better idea of what you can afford and make you a more attractive buyer to sellers.
What should I look for when viewing potential homes?: Look for things like the home's location, size, condition, and price. You should also consider things like the neighborhood, schools, and amenities in the area.
I want to buy a house that is listed with an agent. Can you help assist me with that?: We can't assist you directly, but complete the form on our "Contact" page and we will have one of our partner agents reach out to assist. Should you use their services to buy, we will also send you a gift after you take possession of your new home.
What is a home inspection and why is it important?: A home inspection is a thorough examination of the home's condition by a professional inspector. It's important because it can uncover any potential issues with the home, such as structural problems or safety hazards.
How much should I offer for a home?: The amount you should offer for a home will depend on a variety of factors, such as the home's condition, location, and market demand. Ideally you would know what comparable homes are selling for in the area as well as what recent comparable properties have sold.
What is a home appraisal and why is it important?: A home appraisal is an assessment of the home's value by a professional appraiser. It's important because it determines the maximum amount a lender will loan you to buy the home.
How long does the homebuying process typically take?: The homebuying process can take anywhere from a few weeks to several months, depending on factors like the local market, your financial situation, and the complexity of the transaction.
What are closing costs and how much should I expect to pay?: Closing costs are fees associated with the homebuying process, such as title insurance, land transfer taxes and lawyer fees, etc. They can vary depending on where you live but typically can range from 2 to 5% of the home's purchase price. Also if you are not planning to live in the property check what additional fees you may incur for that province..
What happens after I remove conditions on a home purchase & sale?: After your contract has all conditions satisfied, you'll need to arrange to set up utilities, change your mailing address, and transfer your homeowner's insurance and possibly book movers. After closing, you may also want to make any necessary repairs or renovations before moving in.