Step 1: Are you ready?

If you are thinking of buying a home, this buyer's guide will assist you. But, before you jump ahead, you need to make sure that you are ready for buying your home. It is important that you know all the facts and making sure buying makes financial sense to fit into your lifestyle.

Owning a roof brings you a great pride, but also comes accountability and sacrifice. Apart from the financial changes, home also requires constant care & upkeep.


Step 2: How much can you afford?

A home is mostly the most expensive thing you will ever buy and there are a lot of expenses you might not have thought about. Below list can help you get an overview of the various factors which will define your affordability:

  • Home price
  • Cost of buying (like down payment, legal fees, inspection fees, land transfer taxes etc.)
  • Monthly costs (maintenance, utility expenses, insurance, property taxes, mortgage payments, travel costs)

Mostly, people have to get a mortgage to get their dream home. Our Mortgage Affordability Calculator comes handy for you to have an understanding of how much you can afford.


Step 3: Get Professional Guidance

Whether you are looking to buy or sell, it is important that you get help and advice from a trusted real estate professional. Your real estate agent should act as a consultant and guide you through the entire buying process. That includes answering questions about the neighborhood, market conditions, schools, and helping you get the finance you need. At the same time, your agent will assist you in acquiring a pre-qualified mortgage loan. This will show lenders you are committed to purchasing a home and make your financing arrangements a lot easier.


Step 4: What to buy?

Buying a house is not simple decision and requires a lot of thoughts. First of all, you need to decide where you want to live.

Secondly, you have to decide the type of the house. Each house type has its own advantages and disadvantages.

Lastly, are you looking for a new or a previously owned house?

Each of these play an important role in defining the budget. Your real estate professional will use all of their resources to find homes that fit your criteria. Your agent will also be able to advise you on “hot” markets and any good deals that are available. After touring some homes, your search will be narrowed down, and you will be one step closer to finding your dream home!


Step 5: Finding your Dream Home

After you find your dream home, your agent will begin the process to get you moved in as quickly and easily as possible. The process usually begins with putting together an offer to the seller that is tailored to your needs. After the seller accepts the offer, closing is usually held within 30-60 days from the offer date.


Step 6: Negotiate the Deal

It is very likely that the seller will submit a counter offer. This should not discourage you. Your agent will help you assess the counter offer and help decide whether to accept the counter offer, submit another counter offer, or reject the counter offer and move on. Emotions can often get in the way of making good decisions. Your agent will be well-prepared to make this step easy and stress-free.


Step 7: Arrange Financing

During the closing period, you will be working with your mortgage lender to obtain the financing you require. Your agent will also be involved in this step by gathering the necessary property information that the lender requires to help you get that much closer to the end.


Step 8: Close the Deal

At the time of submitting your loan application you will be presented with closing cost estimates and the expected down payment. Your agent will review the closing cost estimate and provide you with an idea of how accurate the estimate is.


Step 9: Move In!

The most exciting step in the home buying process- moving day! A little bit of planning here will help ease the pressure of moving. Your agent’s work doesn’t end here. You will be provided with a checklist of reminders to help make your moving experience a delight!



Mortgage Calculator



Land Transfer Tax Calculator



CMHC Calculator


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