I speak with people all the time who want to buy a house but can’t seem to quite make it happen. With interest rates at an all-time low right now, there has never been a better time to get your foot in the market. For most people, buying is actually less expensive than renting. For instance, a mortgage on a…
1. Wishlist When you start to think that you are ready to buy a home, whether it’s your first home or you’re moving up, or you’re downsizing, the first step to buying is thinking about a “wishlist” for your new home. You want to have an idea of what you think that you’re looking for and your ideal timeline.…
Most Buyers are looking for a deal when shopping for houses. If you’re looking to buy a cheap house, or a house that is below market value, here are some tips. 1. Look for houses that have been listed for a long time. In some cases, Sellers are more willing to negotiate the price if they have been…
Who Pays Land Transfer Tax Land Transfer tax is a provincial tax that applies to every property purchased in Ontario. Any buyer who is purchasing a property pays the Land Transfer tax. In some municipalities (such as Toronto), you will also be required to pay a municipal land transfer tax in additional to the provincial tax. There is no…
If you’re planning or thinking about buying a house, one of your biggest questions is likely regarding the amount of down payment you will need to save. How Much Down Payment? So, how much is needed for a down payment on a house? Well, as with anything in real estate, there is no single answer as how much…
In real estate, a down payment and deposit are two separate things. Deposit vs Down Payment A deposit is an amount a Buyer pays when their offer to purchase a property is accepted by the Seller (or sometimes when the offer is submitted). The deposit is held in a trust account (usually the listing brokerage’s trust account) until…
Money Well Spent Having a professional home inspector do a comprehensive home inspection on a property before you purchase it is almost always recommended. It is money well spent and worth the peace of mind. Cost In this market, a home inspection costs about $350-$500. Your inspection includes a physical exam by the inspector of the whole house,…
