Everything is in place and you are ready to start looking for your new home.
First, consider the things you will most likely be the case in your near future. Don't think too far. When you think purchasing a house, think about the next five years. After this time, too many elements have time to change and it's not realistic to anticipate project too far ahead. How long do you plan on staying in this house? Life is unpredictable and you can't plan for everything. If you are single or a new fresh couple, you may be fine with a smaller house that you plan on selling in a few years to get something bigger as family project arrive.
First, make sure that you are willing to start this adventure. While it's such an exciting time as well, finding and buying a new house definitely brings its own set of challenges and hangups to the table. Prepare your budget carefully and make an appointment with a mortgage broker to assess your borrowing capacity, for free. This first step will make you know the type of property you can purchase, but a pre-authorization will also allow you to be taken more seriously at the buying proposition. Also, if you are working with a broker with a double speciality, who is practicing both real estate brokerage and mortgage brokerage, you will have access to a double expertise to start this project with a professional who has an overview on your buyer's profile.
Before you start your research, you need to meet a professional real estate broker to target your actual needs and your potentiel needs in the futur. Choose your real estate broker carefully to benefit of a full service that will meet all your needs. Overall, buying a new place is a big and stressful decision, but work with a professional who can secure your transaction will help make your case easier.
Get involved in the process by making a folder for each different home you are interested to and make a set of criterias to assist in evaluation that will allow you to compare all the properties objectively. Also, decide which things are preferences vs. needs on your list as well.
When you will find your dream house, your real estate broker will assist you in the process to offer a realistic price and establish the conditions, if it is the case. Following the property seller's response, will follow an counter-offer, an acceptance or refusal.
Once your offer is accepted, the process to achieve the established conditions will follow with, potentially, the sale of your property, the financing or any other conditions specified in the offer.
Check the buyer's guide produced by the OACIQ for more details.
If your real estate broker put your property on the market, after complete all the settings, you will have an specific task to do: the enhancement of your property.
Set your home from the inside to the outside. When you will receive some potentiel buyers, the atmosphere will maximize your chances of selling. Take your broker's advice, it can provide some simple tips you can put into practice to get more results.
Finally when an ideal offer will come, you will have a choice to make ; to accept, refuse or negotiate. When you will set your price and the conditions, you only have to wait for the accomplissement of all those conditions to conclude the transaction.
Check the seller's guide produced by the OACIQ for more details.
The final step
Congratulations, you finally are the owner of your dream house. It means that all the conditions of the offer have been completed and you have signed the contract to the notary and transfer funds.
Now, you need to plan your move and get to know your new neighborhood.
Feel free to contact your mortgage broker again if you are planning major renovations or for a future refinancing. These services are free and will save you many meetings with several banks, not to mention the advantage of obtaining a preferential rate which is only available in transacting with a mortgage broker.