First Time Buyer?

**Even if you are a home owner and thinking of moving up or downsizing.  The following suggestions will also help you make the right decisions**
Draw up a wish list of the type and size of dwelling you are looking for (condo, townhouse, duplex, detached house)
  • If you are looking for a condo, what amenities appeal to you, (gym, pool, etc)?  Which floor would you like to live on?
  • If it's a house you are after, what size garden would you prefer?
  • Are you looking at a particular area?  It's a good idea to write a list in order or preference for areas you would like to live in.  Write another list of areas you would rather avoid.
  • Are you looking for a property in a particular age range (new build vs. older property)?
  • Write a list of any special features you would like the property to have (ensuite master bedroom, idea of bedroom sizes, number of floors/levels, off street parking)
Decide on your financial "comfort zone".  What is the price range of properties you could potentially afford?  The amount of cash downpayment?  Mortgage size?  Will you have financial assistance from friends or family members?
Visit your bank and make sure you are pre-approved for a mortgage.  Doing this ahead of time will make the whole searching and buying process much easier.