Blog by Barb Pasternak,

Blog by Barb Pasternak

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What do I need to know before I buy a home

  1. Before you start looking, decide how much you can afford to spend. If you aren’t sure, get advice from your financial institution or your real estate agent.
  2. Plan how you’ll save for your down payment.
  3. Set up a loan to pay for your home even before you start to look. This is called a pre-approved mortgage.
  4. Remember that interest rates go up and down. You can’t always predict what’s going to happen in the short term.
  5. Know all the costs. Talk to your lawyer and a home inspector or a real estate agent. They can advise you on all aspects of buying a home, including all of the costs. An inspector can make sure the home is in good shape, with no surprise repairs coming soon.

Remember: Buying a home is a big move

Most people think buying a home is one of the best things they can do with their savings. Make sure you invest wisely.

The Globe and Mail: