Over the years, I have had the pleasure of helping many buyers find a home they love in Toronto. From first-time buyers to newcomers, and relocators to investors, I have truly enjoyed guiding each of them through the home-buying process. After all, buying a home will most likely be one of the largest purchases you will ever make, so you should know exactly what you are paying for.

Using my extensive personal and professional real experience, I prepared a concise buyers guide, so you can have all your questions answered before you start your home buying journey.

My Toronto Real Estate Experience

With my years of experience in the industry, my clients know that I will always find them a home that not only fits their budget but also fits all of their criteria. Living and working in Toronto has provided me with a firsthand insight into the communities, making it even easier for my clients with all aspects of buying a home in Toronto.

My Educational Guidance

I take the time to educate every buyer on the current market and what it means for them. We can discuss the best time to buy, what the home they want is really worth, and what similar properties are selling for. My insight into the market has provided me with a thorough understanding of property value; with this knowledge, I can successfully negotiate the best possible price when buying your dream home in Toronto.

My Proactive Approach to Buying Toronto homes

First and foremost, I listen to and truly hear everything my client tells me. Once they explain their needs and criteria to me, I’ll find the property that matches it. When it comes to buying a home in Toronto I never wait around to see if the right home comes on the market, I will call other agents and industry connections to find your next home before it even goes on the MLS. You will have the opportunity to see a property as soon as it is listed with no waiting or missed opportunities.

here’s my buyers guide based on common questions my clients have asked me:

1.

How much can I afford to spend?

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Getting pre-approved for a mortgage is the most imporant thing to do before starting your home search. In order to establish a budget before you start the home search, meet with a financial advisor or mortgage specialist. They will help you determine a budget by looking at your credit, debt, income, and other factors.

2.

What are the extra costs involved?

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When buying a home, it’s important to factor in the other fees involved in the purchase. Of course, there is the downpayment and actual cost of the home. But other fees include land transfer taxes, closing costs, home inspections, lawyer fees, adjustment costs, property insurance, and more.

3.

How do I really know what the home is worth?

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To determine the fair market value of a home and put forward a solid offer, I will complete a Comparative Market Analysis for the property. I will compare the home with other properties that have recently sold in the area and are in similar condition, size, and age. Recent improvements, location, and the current market will all have an impact on the home’s worth.

In order to give yourself a better understanding of the homes for sale in each of the different Toronto neighbourhoods, take a look at some of the home prices.

4.

I'm buying my first home, what's different?

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There’s a lot to learn as a first-time homebuyer. The process of making this important financial investment requires expert guidance from the very beginning. Here’s some quick tips and steps for buying your first home in Toronto:

 

  • Find the right real estate agent – A great home buying experience starts with the right agent.
  • Establish your budget – Meeting with a financial advisor or mortgage specialist to get pre-approved will provide you with a clear understanding of your budget.
  • Write out a wish list – Next, you can determine your unique needs, wants, and timeframe.
  • Finding the perfect Toronto neighbourhood – When it comes to real estate in Toronto, location is everything. If you are new to the area or haven’t had a chance to thoroughly explore the nearby neighbourhoods, it’s important to do your research and experience them first hand.  Think about your lifestyle and daily schedule: do you need easy access to public transit? Are you looking to settle down in a quiet area? Or would you like to live in the centre of the action?
  • Preparing the contract – Once you’ve found a home you love, complete a Comparative Market Analysis of the property, determine the closing date, and negotiate the best possible offer price and conditions with your real estate agent. I recommend a final visit to the property bethe fore closing day to make sure the pre-list owners have left the property in the agreed upon condition.
  • Closing the deal – This is one of the most outstanding points in the buying process. On closing day, you will meet with your lawyer to sign the required documents and make any necessary adjustments before you receive the keys to your new home.
  • Final steps of buying your first home – Movers, painters, handymen, and inspectors are all a part of the home-buying process. If you need any help with any of this I’m always here to help you connect you with the best local professionals to truly make it your first home.

5.

Do I need to hire a lawyer?

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Having a lawyer for the home-buying process provides both legal protection and ease of mind. Your lawyer will ensure that all documents are in good legal standing and that the process is completed correctly. Because buying a home is such a large investment, I always recommend having a lawyer on your side.

6.

What neighbourhood should I live in?

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Choosing the right neighbourhood is one of the toughest decisions to make during this process. When trying to determine the right community, it is important to consider your commute, lifestyle, space needed, plans for the future, and your budget.

You should always get a feel for many different neighbourhoods in Toronto and make a wish list for some of the main features and amenities that you’re looking for. I will take you through any neighbourhood of interest to show you the pros and cons of the area.

Learn more about the different neighbourhoods, what makes them unique, and the best reasons to live there in my dedicated Toronto neighbourhood reviews.

7.

Do I have to have a home inspection done?

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When you’re buying a home, you want to feel 100% confident in your purchase; having a home inspection completed will provide you with a better understanding of the home’s condition so there are no surprises after you move in. Buyers that don’t enlist the help of home inspectors can often purchase a home and later find many costly problems.

Getting a home inspection will help you understand the home better and here are 8 reasons you should consider one:

  1. It gives you an out if there is an issue with the home
  2. It can provide you with an overall picture of how safe the home is and how much work will be required in the future
  3. It can reveal illegal building element, additions, and construction
  4. It can help you understand future repairs that will be required
  5. It can identify structure issues with the property
  6. It can identify pest and insect issues
  7. It provides you with negotiating power if issues are identified
  8. It allows you to understand the amount of risk that is associated with the purchase of the property

Do you have any questions you would like to be answered in this buyers guide? Contact me today and I will happy to answer all your questions. You can also download my extensive buyers guide here.

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