Buying a home can be an emotional, time-consuming, and complex process. before you start calling Real Estate agents to show you homes, review the TOP 10 questions on buying a home.

1)   Are you familiar with the Real Estate market in your area. Do you know the going prices of homes in your arera.

2)  Have you been approved by a lender up to a certain price range of a home

3)  Do you know how much you need  for a down payment and closing costs: New rules apply for downpayment in Ontario.

  • The new breakdown is as follows: For homes with a purchase price less than or equal to $500,000 the minimum down payment is 5% For homes with a purchase price greater than $500,000 and less than $1 million, the minimum down payment is 5% of the first $500,000 plus 10% of the remaining balance.
  • For homes $1,000,000 and over, 20% of the purchase price is required


4)  Do you know how much you will need for: mortgage, property taxes, utilities, property insurance.

5)  If you are a first time buyer, do you know how much land transfer tax rebate you are entitled to

6)  Do you know your credit score and how your credit score affects your ability to get a loan

7) Have you made any recent major purchases, particularly a vehicle using credit.  If you do, it could potentially lower the amount you'll be approved for.

8) Do you understand BUYERS AGENCY:  The listing agent always represent the seller in a transaction, you need a BUYERS AGENT to represent your interestsA buyer's agent's job and fiduciary responsibility (meaning legal duty) is to you, the buyer.

9) Do you understand the role of the HOME INSPECTOR in the buying process and how critical and unbias assessment of a home is required before the transaction is completed.

10) If you are a FIRST TIME BUYER, have you attended a FIRST TIME HOME BUYERS SEMINAR.

So there you have it, if you feel pretty confident that you are aware of the details of buying a home, you are well on your way of being a SMART BUYER.   An informed buyer is always a smart buyer.  Make the Smart Move contact us today.

Please Review A Short Video On Buying A Home