7 Tips For First Time Home Buyers

7 Tips For First Time Home Buyers

The home buying process in today’s Canadian market can seem threatening.  However, if you follow these five tips, you can simplify the process while knowing you made the best possible decision.

    1. Your home buying process always starts with a visit to a reputable mortgage agent.  Talk to them about the current real estate climate, and secure your pre-approval.
    2. Next, you need to secure the right real estate agent.  At Mortgage Alliance, we are connected to several of the best agents in the GTA, and it can be easy as a quick referral.
    3. Commit 100% to getting a house.  Perhaps it is not in your best interest to fund an expensive property, but you need to decide that you will land a property right for you, rather than kicking tires.
    4. Analyze your financial situation.  We recommend that you spend no more than 25% of your income on housing costs, but due to our best lending rates, you can feel safe with that number.
    5. Prioritize location above other factors.  Not only will it improve the flow of your daily life, but it will greatly increase the resale value should you choose to move.
    6. Consider a short sale if money is tight.  You may well be able to secure your home at a discount because the financier is looking to wrap up the transaction and limit its losses.
    7. Use social media to help you choose the best agent and realtor.  We regularly post promotions on our social media accounts.  You can follow our Instagram @mortgagesbyjasmeen and like our Facebook @Jparma123.

With these tools, you will be able to navigate the home buying process successful.  Now, take action!

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