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Are you interested in purchasing a home, but have no idea where to start? As a Guelph real estate agent, we have gone through the home buying process countless times and are knowledgeable and experienced enough to help anyone on the move!

Below you will find a list of the most common steps in the buying process and tips for working through them.

The buying process begins by starting your search. There are many ways to begin the search for your dream home. You can search through listing in local newspapers and real estate magazines or search online with your computer or phone on websites such as Realtor.ca. The benefit of these online searches is that you can easily narrow down your search by applying filters to your results.

While these tools can aid in your search, employing a Guelph real estate agent could make the difference between finding a house that works or finding your dream home. We have access to a larger database of homes and we are familiar with the process, so we know how to lead you in the right direction.

Once you have found the house you wish to buy, it is time to make an Offer to Purchase. It is important to remember that an Offer to Purchase is a legal document. This means that you need to put a lot of careful consideration into who prepares it for you and what is included in the document. The following are most commonly included in an Offer to Purchase:

1. Names of all parties involved in sale
2. Purchase price
3. What is included in the sale
   1. Appliances, furniture, window dressings, etc.
4. Amount of deposit
5. Closing date
6. Date the offer expires
7. Conditions

Once you have made an official Offer to Purchase, you will receive a response from the seller. There are two different responses the seller could make. The seller could accept your offer or the seller could send a counter-offer. If the seller accepts your offer, the buying process would continue to move forward. If the seller sends a counter-offer, negotiations could begin or you could decline their counter-offer and decide not to continue with the buying process. If you receive a counter-offer, keep your maximum price in mind so you don’t get caught up in the heat of negotiations and end up agreeing to more than you can afford.

Once you and the seller have agreed upon the price and terms of the home sale, you would need to secure the financing for the house. For most, this means obtaining a mortgage. We advise getting pre-approved for a mortgage before you even begin your search for a home. This gives you a better idea of the home you can afford and your Guelph real estate agent a better idea of what your options are. A pre-approval also gives you more bargaining power when negotiating prices with sellers.

Once you have secured the financing, the next step in the buying process is closing. This is the most rewarding step because it is when you finally get to call the house your home! On closing day:

1. Your lender will give the mortgage money to your lawyer
2. You will give your down payment (minus your original deposit) and closing costs to your lawyer
3. Your lawyer will pay the seller, register the house in your name and give you the deed and keys

Now you’re done and it’s time to move into your new home!

As Guelph real estate agents, we are here to make the home buying process as stress-free and enjoyable as possible for you! If you are interested in buying a home this year, let’s start your search now and get you on the move! Call 519-831-7447 today for help finding your dream home!

Source: https://www.cmhc-schl.gc.ca/en/co/buho/hostst/

To Rent or To Buy? That is the Question.

As a Guelph real estate agent, we are frequently asked whether it is best to rent or buy. This is not surprising given the importance of the decision between renting and buying.

Even though every client’s situation is different and there are different pros and cons for every situation, we believe that buying is usually the best option, especially in the current Guelph real estate market.

Making the decision to purchase a home doesn’t mean you need to purchase the biggest, most expensive home on the market. If you are considering purchasing a home for the first time, but you are afraid to make the leap into home ownership, you can always start with something smaller. There are currently numerous apartments, townhomes and condos available for purchase in the Guelph area.

If you are worried that home ownership is too expensive when compared to renting, that’s not necessarily true. Huffington Post recently did a study on the cost of purchasing a home in comparison with renting, and the results might surprise you!

The study was designed to show the difference between a monthly mortgage payment and a monthly rent payment in nine major Canadian cities. In four of the nine cities, the mortgage payments were actually cheaper than the rent payments, by an average of about $164 per month.

On top of being cheaper in most cities, buying a home is also a great investment. When you rent, you are essentially paying off someone else’s mortgage. When you purchase your own home, you are investing in your future, not someone else’s.

We understand that the idea of purchasing a home can seem intimidating, but it doesn’t have to be. With the right Guelph real estate agent at your side, you will see that finding and purchasing your dream home is a rewarding experience.

Whether you are looking to buy or sell a home or would like more information on the benefits of buying over renting, contact us today at (519) 831-7447.

Source: http://globalnews.ca/news/2563940/should-you-rent-or-buy-this-real-estate-calculator-will-help-you-decide/

Source: http://www.huffingtonpost.ca/