1) Pre-qualify your mortgage.
There is nothing more disappointing than spending days, weeks, or months searching for the perfect home, and having to let it go due to a financial incapability.
2) Do your homework.
Know what price range you can afford, and understand the current market conditions.
- Property Purchase Tax - 1% on the first $200,000. of the purchase price, and 2% on the balance. First time buyers are exempt, although there are certain criteria that must be met.
- Home inspection costs.
- Notary / lawyer costs.
- Moving and connection charges for phones, cable, etc.
- Property Taxes
Most of these costs are standard, but the excitement of purchasing a new home can render buyers with expenses that they have not allotted for. We want the purchase of your new home to be a pleasant journey, not a financial disappointment.