The Ultimate Home Buyers Checklist for Canadians
Being a homebuyer can be a daunting task. There is so much to do and see and in the current real estate market, you need to move quickly. Creating a homebuyer's checklist will let you do everything in auto-pilot where you know exactly where you are going and what to do next. Here is how to create one!
Where do you want to live?
Make a list of the important features that you need in your perfect location or neighbourhood. These can include the following.
- Short commute to workplace
- Proximity to the best schools
- Proximity to parks
- Short distance to stores, restaurants, shops and hospitals
- Homes and Yards that are well-kept
- Children or no children in the neighbourhood
- Family, single or retirement focus
How much home can you afford?
Your next step is to put together a list of the steps needed to obtain financing. This should include the following.
- Calculate your down payment needed
- Calculate your closing costs needed
- Research lenders or mortgage brokers
- Check your credit rating
- Get all of your paperwork in order (pay stubs, credit history, proof of income and current assets)
- Get a pre-approval
- Make a budget based on the pre-approval to ensure the payments are right for your situation
Who is going to help you buy that perfect home?
Once you know what you want and have your finances in order, you need to decide who will help make your dream become a reality. You will need to research and interview.
- Real Estate Professionals
- Lawyers
- Lenders or Mortgage Brokers
- Appraisers
- Home Inspectors
- Insurance Companies
What type of home do you want?
Next, put together a checklist of all of the must-have features in your desired home, which you can use to assess the home from the listing. These can include the following.
- Age of home
- Kind of home (detached vs. attached vs. condo)
- Move-in ready / fixer upper
- Number of bedrooms
- Finished basement
- Updated
- Size of lot / yard
- Garage space
- Type of flooring
Once you get to the showing, you will want a second checklist that will help you compare the first home you see to the fifteenth. Some items on this checklist can include the following.
- Busyness / quietness of the street
- Type of exterior finish
- Condition of landscaping / grass
- Number of bathrooms and their location
- Type of heating / air conditioning and their condition
- Fireplace
- Dining room / home office / family room
- Deck or patio
- Security system
- Condition of appliances
- Condition of windows
- Condition of flooring
- Any special features
What is important to you when putting in an offer?
Once you find that perfect home, you will want to contact us to put in your offer. Because we are currently in a seller's real estate market in Grey Bruce and South Georgian Bay, you need to consider what the most important things you want to get from your offer. They could include.
- Price
- Inclusions
- Closing date
- Other conditions
When your offer is accepted — congratulations — you have bought a home. Next step, make your packing and moving checklists!
