Real Estate transaction is one of the most important and the largest financial decision that you would probably make. These transaction has always been a very emotional and complex. Buying a Real Estate whether a Residential Home, Commercial Business or Investment Real Estate, can be one of the life's most fulfilling and challenging experiences. The more prepared you are at the outset, the less overwhelming the buying process will be. Making the right choice when it comes to purchasing a Real Estate is a matter of professional planning, not any good luck! No one person can be expected to know everything, so it?s important to surround yourself with qualified professional assistance throughout the process. CENTURY 21? System combined with My expertise as REALTOR? through application of Skills & Industry Tips etc. will help take the anxiety out of Buying a Real Estate.
Ask Yourself: If You Are Ready For A
Real estate Investment Now!!
q If your source of income reliable and steady!!
q If you are Comfortable with such Income!!
q If you can pay monthly Rent on time!!
q If you have any other financial Commitment!!
q If your total income is higher than your total current debt service!!
q If you are paying your monthly due Rent on time!!
q If Your Credit score is good!!
q If you got enough fund to make a down payment, closing cost.
q If you know of the facts that on top of monthly Mortgage, Tax, Utilities, Maintenance,
Insurance & other Carrying costs involved in owning a Real Estate!!
I F Y O U A R E R E A D Y
The first step is to review your current expenses thoroughly. Find out how much added expense will be incurred in taking on a mortgage. Before you embark on your Real estate search, it is a good idea to get a pre-approved mortgage, especially if you?re a first time buyer. A pre-approved mortgage lets you know how much money you qualify for. To determine affordability, your mortgage agent will look at your Gross Debt Service Ratio (GDS) and your Total Debt Service Ratio (TDS). The GDS ratio is based on what you can afford to pay each month and it includes mortgage payments, taxes and heating. Agents also help you estimate the carrying cost with the Total Debt Service Ratio. A budget analysis based on net income at current and projected to determine what you can actually afford and what size of mortgage payment is realistic for you to afford.
This pre-qualifying stage is also the time to find out about the differences between conventional mortgages and high ratio insured mortgages. Other costs as closing cost; such as land transfer taxes, legal fees and other disbursements. Your mortgage agent will also need to run a credit bureau report and verify confirmation of income and an amount of your down payment on purchase. Your pre-qualified for a mortgage at a certain financial institution, does by no means that you would be obligated to obtain your mortgage through that particular bank. Applying for a conditional Mortgage, - A Check only.
What You Should Know Prior to Buying Your Dream Home!
It is my standard practice to guide you through such process!
q Check zoning, building regulations and municipal plans for the area. They may affect any plans you may have for additions or renovations.
q Estimate the resale potential of the house. This is an important consideration, especially if you may need to relocate again soon.
q Drive through the area and evaluate the level of essential services. Check transportation and shopping facilities. Look at the proximity and types of schools in the area.
q Carefully examine all aspects of the house?s construction, including plumbing, wiring and foundation walls. Bring along an expert if you feel unable to assess these properly.
q We have seen more and more clients exercising a house inspection company to look at the home in detail. Ask your Realtor for the name of a reputable firm. Costs vary but are in the range $300-$400, The Inspection provides a level of comfort, which can be well worth the cost.
q Try to determine what repairs you may be faced with over the coming years. Check the condition of the roof,
capacity of electrical services, age of furnace and driveway paving. If you think your space needs may change,
look for renovation potential - size of lot, exposure, room layout, so on.
q Consider all expenditures you may have to make over and above actual purchase cost; repairs,furniture,
landscaping, renovations, and decorating and moving.
You are looking for comprehensive services from a Real Estate Professional. As a CENTURY 21? Real Estate Professional, I am Confident, Certified and Committed to Excellence and to answering all the questions and concerns that you may have. CENTURY 21? System and Me as REALTOR?, combined with my expertise and professional skills shall offer you to help you find your dream Home! Or Business! Your complete satisfaction is my professional guarantee
I offer a number of value-added services to my clients from finding the right Real Estate until Closing including mortgage pre-qualification, sourcing, customized market reports, showing and market value analysis. demographic, neighborhood and tax information etc. Additionally, utilizing my support network, I do provide referrals to legal, Insurance, inspection, survey and appraisal services etc., each tailored to your unique needs with the aim of assisting you with making an informed stress free buying decision. You may have other questions not answered, there will be places within the site to show you how to get additional information. Please browse all those LINKS as appropriate to gather most information.
If You are a New Comer to Canada or First Time Buyer: CMHC-The Newcomer's Guide to Canadian Housing and Buying Step by Step are the most informative sources for New Immigrants and First Time Buyers when buying a home in Canada. Please contact me for a copy of the Guide or Download the .pdf file. Please Click: New.Immigrant.Housing-Guide + HomeBuying.StepByStep
You may have many questions to be answered. Please browse all the other links and respective pages to justify more facts and findings to your advantage at time of your buying or selling a Real Estate in Canada. Please Contact_Us
