Office: 613-932-4663
 Email: Info@StormRealty.ca

         

Tips for First-Time Home Buyers

If you have any questions or would like more information about buying a home for the first time please Contact Us.

Ditching the land lord and taking the leap into the realm of home ownership? While it can be frightening, consumers who have the resources to buy a home shouldn’t shy away from this type of financial decision. But you must be prepared and you much have the money to do so, or you may incur years of unavoidable debt. With the help of your REALTOR® or real estate representative, and some research, buying a home for the first time will be less daunting and complicated. The best thing you should do is to not rush into a decision and to prepare well ahead of time.

Here are some tips, guidelines and advice for those who are thinking of buying a home:

  • First Time Home Buyer TipsKnowing that you’re ready: Before you even look at homes online or in the newspaper, make sure that you have the ability to buy a home. Check your finances, your credit score and budget accordingly. Ask your real estate professional or your representative at your bank to check over you financial situation to determine whether or not you’re ready. If you aren’t or if you feel like you aren’t, start saving what you can. Even if you choose to buy a home, you’re going to have to cut your spending considerably.

  • Know how much you’re going to spend before you look: After you have found out that you’re ready to buy a home, it’s time to budget yourself. Determine how much you’re willing to spend to purchase a new home, as well as for down-payments – something that usually gets left until the last minute.

  • Finding the right real estate representative: If you haven’t already, you should acquire the assistance of a real estate professional. As a first-time buyer, you should never go solo when buying a home. A real estate professional can give you advice on what home is best for you, as well help you search for the most fitting home for your needs.

  • Knowing what you need: Once you acquire the assistance of a REALTOR® or sales representative, start looking for a home that suits your needs. If you’re thinking for the future, take that into account when deciding which home is best for you. But don’t be over the top—be realistic when searching for that first home.

  • Tips For First Time HomebuyersUnderstanding your options for mortgages: Do a bunch of research before you choose a mortgage. Go to various lenders and understand their rates and policies. You could also ask your real estate agent for some help or hire a mortgage broker. There are different options, so find the one that suits you.

  • Don’t forget about those closing costs: After purchasing a home, you may be faced with “extra charges”. Understand the various fees that you’ll have to pay before the close of the sale so you could save accordingly. These fees can include legal costs, land transfer taxes, disbursements and many others.

Buying a home should be an exciting period for you, and while it seems complicated and difficult at first, prevailing through the challenges isn’t as hard as you think. With the help of a real estate professional on your side, you’ll get a favourable deal. So if you decide that buying is the right decision for you, just do your research and you’ll be good to go.


Home   |   Listings   |   Buying   |   Selling   |   Calculators   |   Our Team   |   Blog   |   Contact   |   Join Our Team
 

The Storm Realty Story

Steven Iwachniuk Broker of Record and Owner of Storm Realty started selling real estate on April 1st, 2004 with another local real estate company in Cornwall, Ontario. Roughly six years later in 2010, one night Steven was going to bed and he ask himself, "What do I want to do with the rest of my life? He then wrote the question down on a piece of paper and put it beside his bed. Around 2:30 am that night he jumped out of bed. His wife Julie was startled and ask what's wrong? Steven replied, I know what we need to do. We are going to open our own real estate brokerage. ‚ÄčThe very next day Steven started researching, how do I open a real estate brokerage in Ontario, Canada and then a few days later he went to see his lawyer to start the process. On June 24th, 2010, Storm Realty was born. Read More >>

Storm Realty

1410 Pitt Street,
Cornwall, ON, K6J 3T8

 Office: 613-932-4663
 Fax: 613-932-3600
 Email: Info@StormRealty.ca