Owning a home is a dream for many people, but it can also be a daunting process. There are so many things to consider, from budgeting to pre-approvals to finding the right realtor. In this guide, we'll cover 10 essential tips to help you navigate the home buying journey with confidence.

1. Set a budget.
Before you start looking at homes, it's important to set a budget. You'll want to determine how much you can afford to spend on a home, taking into account your down payment, closing costs, and monthly mortgage payments. Use online calculators to get an idea of what you can afford, and consider getting pre-approved for a mortgage.

2. Get pre-approved for a mortgage
Getting pre-approved for a mortgage can help you understand how much you can afford to spend on a home. This process involves a lender reviewing your financial situation to determine how much they're willing to lend you. It can be helpful to get pre-approved before you start shopping for homes, as it can give you a better idea of your budget.(backlink to Andy’s website)

3. Hire a great Realtor
A real estate agent can be an invaluable resource when buying a home. They can help you find homes that fit your needs, negotiate with sellers, and guide you through the home buying process. Look for a representative who has experience working with first-time buyers and who is knowledgeable about the local market.


4. Consider all of your options
When buying a home, it's important to consider all of your options. Don't just focus on the style of home you want - think about the neighbourhood, the size of the property, and other factors that are important to you. Consider working with your real estate agent to create a list of must-haves and nice-to-haves. Keep in mind that meeting both the budget and the wishlist can be hard. Sometimes there are compromises to be made. What is a must and what is a nice to have? Are you willing to compromise?

5. Attend open houses 
Attending open houses can give you a better idea of what's available in your price range without creating any obligation. It can also help you get a sense of what you like and don't like in a home. Take notes and ask questions during these visits, and don't be afraid to revisit homes that catch your eye. Keep in mind the listing agent works and ows fiduciary duties to the seller. Always have your own representation when it comes to purchasing a home.

6. Don't be afraid to negotiateWhen making an offer on a home, don't be afraid to negotiate. Your real estate agent can help you determine a fair price for the home and make an offer that reflects that. Be prepared to compromise, but also be willing to walk away if the deal isn't right for you.

7. Get a home inspection
Before making a firm offer on a property it's important to get a home inspection. This process involves hiring a professional to examine the home for any potential issues. If issues are found, you may want to offer a price that takes into consideration the cost of remedies or budget accordingly.

8. Understand the closing process
The closing process can be a bit overwhelming, but it's important to understand what's involved. Your real estate agent, mortgage agent and real estate attorney can help guide you through the process, which typically involves signing a lot of paperwork and paying closing costs. Land transfer tax is one of the largest costs in buying a home, use this calculator to find out the exact amount for each property (insert calculator link)

9. Don't forget about ongoing costs
When budgeting for a home, it's important to remember that there are ongoing costs involved in homeownership. This may include property taxes, maintenance costs, utilities and sometimes condo fees for certain properties. Make sure you're prepared for these costs before you commit to a home.

10. Take your time
Finally, it's important to take your time in making the right decision. Once you have an unconditional accepted agreement to purchase there is no going back. You are legally bound by the contract and you are expected to close the transaction.

If you want to know more about the process of buying a home, reach out and I’ll be happy to set up a consultation! 

Happy house hunting!