The Complete Buyer's Guide To Your Dream Home

These are Julie Pham's top Real Estate top 10 tops to buying your first home. The top guidelines to ease your moving process.

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10 Tips To Buying A Home, Real Estate Buyers Guide
Royal Lepage Wolstencroft Realty, Royal Lepage Wolstencroft Real Estate Agent

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A Journey Towards Your Dream Home

10 Steps To Buying A Home

Consider All The Costs

1
The goal is to fully inform you as my client and to ensure that there are NO surprises. These are all important factors to consider if you have not already.
Upfront Costs
Down Payment - The Part of The Home
Price That is Paid When You Make an Offer to Purchase
Any Applicable Taxes - GST, HST, QST
on The Purchase Price (for new built homes) or on The Mortgage Loan Insurance (if applicable)
Insurance Costs - Property or Mortgage Load Insurance, etc
Closing Costs
Home Inspection or Appraisal Fees
Legal Notary Fees
Moving Costs
Potential Repairs or Renovations
Ongoing Costs
Land Registration Fee
Property Tax
Routine Repairs or Maintenance
Mortgage Payments
Insurance
Utility Bills
10 Tips To Buying A Home, Julie Real Estate Agent
2

Meet With A
Credit Lender

To ensure that you have a good credit
score and financial situation
It is important to know your credit score
prior to looking into properties because
this will save a lot of time.
Go on cmcc.ca/creditreport
Appropriate actions can be taken after
you know your score on whether you
can move forward with obtaining a mortgage
10 Tips To Buying A Home Langley BC, Real Estate Buyers Guide

Get Pre Approved

3
A pre-approved mortgage lets you know how much you can afford, what your interest rate will be and what your monthly mortgage payments will look like. Getting pre-approved is not a guarantee of final approval for a mortgage.

Meet With A
Mortgage Lender

4
When meeting with your mortgage lender or broker don’t forget these items.
Contact information for your employer and your employment history
Proof of address and your address history
Details of current debts and other financial obligations
Proof of savings and investments
Proof of income for your mortgage application
Proof of down payment (amount and source)
10 Tips To Buying A Home, 10 Tips To Buying A Home
Side note
Let me know if you would
like a recommendation to
a few mortgage lenders!

Finding The Right Home

5
Make a list of what you want and what you need
Consider your location, size, special features, lifestyle, neighbourhood?
Consider home buying or building? For instance a brand new home, previously owned, build your own, etc.
Feel free to do your own research and really hone in on what you want
Find a real estate professional to work with
Your real estate agent will generate homes for you to consider and take you on a tour of your liking!
Realize Every Position That Could
Possibly Play A Role In Your Transaction
Real Estate Agent
Insurance Broker
Home Inspector
Appraiser
Land Surveyor
Builder or Contractor
Lender or Broker
Lawyer or Notary
This is your team helping you to achieve this transaction successfully and efficiently! Your Real Estate Agent can provide you with a list of different professionals for the appropriate area of expertise.

Making An Offer

6
Once you’ve found the home you want to buy, you need to give the seller an offer to purchase (also called an “agreement of purchase and sale”). An offer to purchase is a legal contract that should be carefully prepared by your real estate agent and/or lawyer.
Your Offer Should Include:
Your legal name, the name of the seller and the address of the property
The purchase price (the amount you’re offering to pay)
The amount of your deposit
Any extra items you want included in the purchase such as window coverings or appliances
The closing date, which is the date you want to take possession of the home (usually 30 to 60
days after the agreement is signed for existing homes and longer for newly constructed homes)
A request for a current land survey of the property
The date the offer expires
Any other conditions that must be met, such as a satisfactory home inspection or lender
approval of your financing
The contract will be final once all conditions are met.
10 Tips To Buying A Home, 10 Tips To Buying A Home

Get A Home Inspection

7
‍
Once your offer is accepted you will want to ensure your potential future home is free of any hidden issues.

Get A Mortgage

8
Visit your lender to finalize the details of your mortgage.
Don’t forget to provide this information below to make for a successful mortgage.
The legal description of the property
The building specifications
The REALTOR.ca listing (or photographs if
no listing is available)
The most recent property tax assessment
An appraisal
A home inspection report
A land survey
Estimates for recent or planned renovations
and improvements
Heating and utility costs
Condominium fees (if applicable)
The signed offer to purchase
Julie Pham Real Estate
10 Tips To Buying A Home, 10 Tips To Buying A Home
9

On Closing Day

Congrats!
Lender gives money to lawyer or notary
Your lawyer or notary pays the seller and registers
your name on the home and hands over the keys!
You give your down payment along with
the closing costs
10

Move In

Pay your mortgage payments on time
Financially plan the costs of maintaining a home
Save for your emergency repairs and unexpected expenses
Save for your future home improvements
SIDE NOTE
Information has been referenced from Canada Mortgage
and Housing Corporation May 25th, 2020. Please refer to
https://www.cmhc-schl.gc.ca/en for more information
Real Estate Buyers Guide Langley BC, 10 Tips To Buying A Home

Get Yourself A Copy

Use Julie Pham's Buyers guide as a reference for your next house purchase. Make sure you have all the information needed before transitioning into your dream home. Feel free to contact Julie for any questions.
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