Owning a Home is as simple as
Getting Pre-approved for a Mortgage
Defining the 'Needs' vs 'Wants' in a new Home
Working with a qualified Real Estate Professional who has the skills and the resources to help you navigate the market towards your first Home
ALWAYS! - ensure you qualify for and obtain a mortgage pre-approval. This will require the advice of a licensed mortgage professional or bank advisor. A good mortgage professional will be an expert in guiding you through a hassle-free, risk-free and efficient process towards preparing your case for consideration among financial institutions and/or lenders; in order to secure the necessary approvals.
A mortgage pre-approval will offer you the necessary pathways to eliminate risk when looking for and making a pricing-based decision for your new home, by helping you set the right expectations.
Failing to obtain a mortgage pre-approval can prove to be a very risky maneuver, unless you have pre-determined that you are in fact able to fulfill the financial obligations of your new purchase through existing financial alternatives.
A good mortgage specialist is someone who is licensed, qualified to handle your requirements, gathers a thorough understanding of your financial position, has the resources to prepare your case file successfully, and has the judgement to protect and safeguard your best interest within the rightful boundaries of the law.
Defining the Needs -vs- Wants
Identifying a leading list of "Must Haves" and "Nice to Haves" and separating them early on can have a tremendous positive impact on your approach to finding the right home - one that would be a fantastic fit. Making decisions based on needs offers a practical perspective with an emphasis on quicker due-diligence as compared to when we allow ourselves to cloud our judgement with properties that come with "the frills".
When considering your first home: Set smart goals. Aim for affordable home-ownership. Have an investment strategy in mind. Filter out what your hear on the internet or 'passing conversations'. Understand the difference between the opinion of a friend, and the advice of a licensed professional. Ask yourself why you want to own a home. Know that the best time to own a home in Canada was yesterday, the next best time is Now.
Here's a snapshot into how a lot of my clients have grouped their thoughts:
Choosing a Real Estate Professional who has the skills and knows the market
I believe the Real Estate Profession is less of a Sales role and more of a Consultative function. As Realtors, we focus on helping our clients complete the journey towards home-ownership in a stress-free and transparent manner.
After I made Canada my new home, I was a First-Time-Home-Buyer, not too long ago; therefore, I am well versed to the many nuances and challenges associated with new immigrants striving to own homes. A lot of my clients come from diverse backgrounds, from all walks of life to make Canada their home, and helping them find their first home is always a milestone I truly cherish. Trust and Loyalty work both ways in this industry, and I'm truly blessed to have clients who recognize and appreciate this fact.
The chart above, can provide a real-time glimpse of the Average Prices of homes in the Waterloo Region, as compared to Toronto, for each calendar month.
We're seeing a near-constant demand for new homes, a decreasing supply of inventory and low bank rates - leading to a surge in prices, especially in areas surrounding Toronto and the GTA.