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STARTING OUT Selecting the right Agent Determining Needs vs Wants
FINDING A HOME Selecting a Community Local Schools Home Prices Old vs New What to Look at in Homes Questions to ask when looking How many to look at |
FOUND A HOME Making an Offer Issues to consider when buying What does a Home Inspector do Types of Inspections Lead / Asbestos / Power lines, etc Do I need a lawyer Do I need Insurance Warranties
FINANCING What is a mortgage Types of mortgages & rates Paying off you mortgage Government incentives Steps to get a mortgage What is a credit history |
SELLING When is a good time to sell How can I get more for my home What do I need to do to sell Can I sell it myself What is an open house What do I need to tell buyers How does the offer process work What are my options with the offer Can I change my mind or stay longer What to leave when closing Should I buy or Sell first
CLOSING How much does it cost to close Final walk-through What to expect on closing day
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STARTING OUT
If you can answer "yes" to following questions, you are probably ready to buy a home:
Consider your your situation and future goals. How much monthly mortgage payment can you afford (see below question)? What type & size of home would you prefer? Where do you want to live (city, town, building, etc)? Talk to friends and family, drive through neighborhoods, and look at the listings.
Renting: You don't need to deal with or pay for upkeep & maintenance, but you lose the chance to build equity (return on investment) & freedom to decorate without permission. You abide by the landlord's rules and needs.
Owning: You are building equity with every mortgage payment. You have freedom to modify you home as you wish and have security in your home.
The lender looks at your debt-to-income ratio, which is a comparison of your mortgage payments and non-housing expenses to your gross (pre-tax) income. Two ratios are used:
Typically, but based on your individual situation, the TDS can be as high as 32% and the GDS as high as 42%. The lender will also considers cash available for down payment and closing costs, credit history, etc. when determining your maximum loan amount.
FINDING A HOME
FOUND A HOME
FINANCING
SELLING
CLOSING
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Jason Peschell, Salesperson / iPro Realty Ltd., Brokerage / Independently owned and operated.
369 Mountainview Rd S B10A, Georgetown, ON L7G 5X3 / Mobile: 647-291-7179 Office: 905-873-6111
Georgetown Real Estate | Georgeotwn REALTOR | Georgetown homes