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Bungalow townhouse style condo

Land for sale. 3.07 acres in the city!

Development land for sale in Brantford

17.7 acres in prime location in Tillsonburg, Ontario

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Buying Your Home With Less Stress


How do you determine whether the purchase of a home makes sense? What's the easiest way to examine the whole picture from emotions to economics? In this report you will learn how to separate wants from needs. You'll learn how research effectively, choose wisely, finance properly and endure the whole way through.


Set a realistic budget for yourself. Based first upon your income, decide how much you can really afford to invest for your monthly payment. Most financial institutions suggest that your payments be no more than 28 percent of your total monthly income. This is called your GDS, or Gross Debt Service ratio. A good Realtor will help you determine this if you are unsure.


Begin your search for a home by making a careful appraisal of the kind of home you need and want. Write it down take the time to be specific about your particular requirements. You may want a hot tub, but you may only need a bath tub.


Some tips for successful house hunting:

Keep a record of all your research data. Write down comments about the homes that you see. Keep track of your likes and dislikes.

Make sure that your agent is aware of your time schedule and your expectations. Do you like to look at one or two homes in a session etc? Discuss all of this with your agent.

Tell your agent about any homes that perk your interest and those you'd like to know more about. Include the homes you notice as you travel around the area yourself or those you see advertised in the newspaper.

If you want to spend time driving around looking at homes for yourself, ask your agent for a list of drive-by homes, which you can consider first from the outside.
Your agent can than make appointments to show you those that appeal to you.

Express your likes and dislikes to your agent after you see a home. Honest communication is essential. Remember that the homes don't belong to the agent! You must be frank about your likes and dislikes to enable the agent to do the best job for you.


A lender will qualify you for the loan amount that you want. A lender can let you know what specific loan programs would be best for you. He can also help you understand terms like GDS and TDS (gross debt service and total debt service). By looking your current income and your credit history, your banker can help you understand your budgetary restrictions.

To be sure that you can afford that dream house make sure that you get pre-approved. In the approval process, all of your documentation is completed and submitted to an underwriter. The pre-approval that you receive is an actual loan commitment from a lender - your guarantee of loan approval. You will be armed and ready to negotiate for that dream home.

In summary, you can save yourself time and heartache by meeting with a lender before you start your search for a home.


You can learn a lot about an agent by just letting him/her talk to you about how he/she helps her buyers. {Please read the section outlining the questions you should always ask before selecting an agent.} Within a few minutes, you will probably be able to determine if his/her style is in line with yours. You will also be able to determine his/her skill level. Ask as many questions as you can up front. Finding a good agent will save you time and effort.


Your real estate agent can help you make an offer to buy that dream home. It is important to know beforehand whether your agent represents you or the seller. Some agents work only for the seller. You should in this case find a buyers agent to work with you. In this case the agent will be able to advise and support you in making a fair offer. You should be able to get a good idea of value by having your agent complete a current market evaluation for the local area of your search.


There are only two major investments to consider when buying a home. These are the initial investment (including down payment and closing costs) and the monthly payment (including principle, interest, taxes, and insurance). Here are some ways to save on your initial investment:

Choose the down payment loan that is right for you. You do not automatically have to put 20 percent, or even 10 percent, down. You can put 5 percent, or even 3 percent, down on some loans.

As part of your offer, ask the seller to pay some of your closing costs. Sellers are usually allowed to contribute to a buyer's closing costs.

Shop around for your home insurance. A little shopping can save you a considerable amount of money.

You can deduct money paid for discount points from your gross income before computing your tax, which would effectively reduce the cost to you. Check with your accountant.


Get a loan with no monthly mortgage insurance premiums. You may be able to reduce or eliminate them by paying a little more at closing. By putting 20 percent or more down, you can eliminate them entirely.

Consider an Adjustable Rate Mortgage. These mortgage types can be up to 3 percent lower than fixed rates.

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Realty Place Inc. (brokerage)
12 Southglen Road, Brantford, ON
N3R 7A1

Direct: 519-865-8111 -Maria
Bus: 519-753-6000
Cel.: 519-770-2706 -Bogdan

Maria Przednowek
Broker of Record/Owner

Bogdan Przednowek

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