Welcome to Powassan Ontario

1. Find and Research online some good real estate websites

List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based on commute time, schools, recreation, crime, and price. Then hop onto some good real estate websites like Kijiji, realtor.ca, etc to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results to prioritize your wants and needs so you can add in and weed out properties from the inventory you’d like to view.

2. Connect with the Realtor

A good realtor will scour the market for homes that meet your needs and guide you through the negotiation and closing process. Get agent referrals from other recent home buyers. Interview at least a few agents, and request references. When speaking with potential agents, ask about their experience helping first-time home buyers in your market and how they plan to help you find a home.Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you’re interested in. Because home buying triggers many emotions, consider whether an agent’s style meshes with your personality. Also ask if the agent specializes in buyer representation. Unlike listing agents, whose first duty is to the seller, buyers’ reps work only for you even though they’re typically paid by the seller. Finally, check whether agents are REALTORS®, which means they’re members of the NATIONAL ASSOCIATION OF REALTORS®. NAR has been a champion of homeownership rights for more than a century.

3. Check for rebates and grants

4. Shop around for a great rate

5. Get a mortgage pre-approval

A mortgage pre-approval is a lender’s offer to loan you a certain amount under specific terms. Having a preapproval letter shows home sellers and real estate agents that you’re a serious buyer, and can give you an edge over home shoppers who haven’t taken this step yet.Apply for pre approval when you’re ready to start home shopping. A lender will pull your credit and review documents to verify your income, assets and debt. Applying for pre approval from more than one lender to shop rates shouldn’t hurt your credit score as long as you apply for them within a limited time frame, such as 30 days.Lenders may offer the opportunity to buy discount points, which are fees the borrower pays upfront to lower the interest rate. Buying points can make sense if you have the money on hand and plan to stay in the home for a long time. Use a discount point calculator to decide.

6. Find a home

Weigh the pros and cons of different types of homes, given your lifestyle and budget. A condominium or townhouse may be more affordable than a single-family home but shared walls with neighbors will mean less privacy. Don’t forget to budget for homeowners association fees when shopping for condos and townhouses in Powassan, or houses in planned or gated communities. Another option to consider is buying a fixer-upper — a single-family home in need of updates or repairs. Fixer-uppers usually sell for less per square foot than move-in-ready homes. However, you may need to budget extra for repairs and remodeling. Renovation mortgages finance both the home price and the cost of improvements in one loan. Think about your long-term needs and whether a starter home or forever home will meet them best. If you plan to start or expand your family, it may make sense to buy a home with extra room to grow. Check out potential neighborhoods thoroughly. Choose one with amenities that are important to you, and test out the commute to work during rush hour.

7. Make an offer and seal the deal

After endless searching through property listings, the inspections, and back-and-forth between buyers and sellers, it’s time to seal the deal.

Congratulations, New Homeowner! Now What?

You’ve signed the papers and paid the movers, and the new place is starting to feel like home. Game over, right? Not quite. Homeownership costs extend beyond down payments and monthly mortgage payments. Let’s now go over some final tips to make life as a new homeowner more fun and secure.

Keep saving

With homeownership comes major unexpected expenses, such as replacing the roof or getting a new water heater. Start an emergency fund for your home so that you won’t be caught off guard when these costs inevitably arise.

 

Perform regular maintenance

Regular maintenance can decrease your repair costs by allowing problems to be fixed when they are small and manageable.

Let us know if Powassan fascinates you for affordable living!
To buy Property in Powassan
Contact Goho: Your comprehensive housing solution!
Buy | Rent | Sell | Dwell
Phone Number: 416 721 2345
Mail: property@goho.ca
Website: www.goho.ca