- Create a Plan for when and how you would prefer to Buy your first home. Remember, when you finally find the right place for yourself, there will likely be a 30-90 day period ahead of your closing. So remember you won’t actually be in your new place until closing day, not the day you actually buy your place. This is important to understand to bake in the lead time involved in searching for your place.
- Determine how much house you can afford. This is a critical initial step and will involve discussions with your Mortgage Specialist and any family that may be involved with the financial aspect of this purchase.
- Work with a good Realtor who understands what you are looking for and your limitations. This is critical as in our current market, it would be your realtor who arranges and organizes the showings for short listed homes, if you are not on top of them, you will lose the opportunity to even be considered as a Buyer.
- Save for your Down Payment and don’t forget about Closing Costs. This step will involve your Mortgage Specialist and Lawyer to understand what is involved in your closing costs (lawyer fees, Land Transfer, etc).
