Thinking of buying a home?

The first question is bound to be, "How much home can I afford?" That depends on a number of factors:

Your selected location. Are you set on a specific area? Downtown? The suburbs? A rural setting?

Your preferred type of home. Detached? Semi? Duplex? High-rise? Link? Townhouse? New or Resale? There are a variety of home styles you will want to explore.

Your income. After all, it's not just the mortgage you have to take into account. There are property taxes, utilities, and in some cases condo or strata fees. As a general rule of thumb, your monthly home-carrying cost should not exceed 30-35% of your income.

Photo of couple purchasing a home

Market conditions. Is it a buyer's, sellers or balanced market?

There are also additional costs to keep in mind. It's a good idea to work out exactly what you want and what you can afford before you begin the search. Be specific! After all, you don't want to suddenly come to the realization that your dream house has come with a nightmare of bills and expenses. Stick to looking at houses in your price range. The more you've thought it out, the better your sales representative can meet your needs.

A part of deciding just what you can afford can be accomplished by meeting with your bank or a mortgage broker and negotiating a pre-approved mortgage. There are many types of mortgages and many different terms. Research all of your options. This ensures that there are no surprises once you're ready to make an offer.

Once you've figured out your monthly expenses and what you can afford, you can start your search. It could happen that the first home you see is the one you want; or you might look at home after home with none of them catching your interest. Rest assured, the home you're looking for is out there, and when you find it, you're ready to make an offer. If your offer is accepted, the next steps are closing and moving into your new home.

Purchasing a home is easy once you put your plans into action.

Client Feedback

I wanted to say a huge Thank You! for all you've done for our family.

When Bob and I decided in early November of 2021 to sell our home we did not know what to expect, but Lisa, you made it so easy. You helped us to understand market value for our area, stage and prepare for showings, open house, and most importantly you were always just a phone call away which lead to selling our home in 8 days. Not only were you concerned about Bob and I, but you also helped our daughter find her first home as well. This was a huge stress relief for us because now we knew our daughter's future was set, and we could start focusing on the start of a new chapter in our lives together.

Bob & Dan, Oakville

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