This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies. More information

Joe Andreoli
Sales Representative

Visit my blog
Visit me on Facebook
Follow me on Twitter
My videos on YouTube
Visit me on LinkedIn
Personal Information
Search For Property
Buying A Home
Selling A Home
Information Centre
Mortgage Calculator & More
Vaughan Real Estate Homes For Sale - Neighbourhoods
Vaughan Condominiums For Sale
Vaughan Commercial Real Estate
VIP Pre-Construction Condominium Projects
Vaughan Real Estate - Community Neighbourhoods
Market Watch Reports
Joe's Referral Zone - A Select Few
Vaughan Real Estate - Vaughan Homes For Sale - Just Sold - Find Out What Homes Sold For in Vaughan
Client Reports
print version

First Time Home Buyers - What to look for? 

Vaughan Real Estate, Vaughan Homes For Sale

Vaughan MLS Listings



First Time Buyers call Joe AndreoliIf you're a first time home buyer and you are looking in Vaughan in areas such as Thornhill, Kleinburg, Maple, Concord, Woodbridge, you've landed on the right page to help guide you through the process. I've put together a practical list for you to follow to help make a difficult purchase a little less confusing and less stressful. Buying a home should be a great experience and that is what I do. Together, we can build great experiences.
Why jump in and buy your first home?
For the majority of us, buying a home is not only an emotional and stressful decision, but a financial one as well. Why buy and not rent? It's simple. Unlike renting, buying a home is an investment that can appreciate over time, giving you more financial security later on in life. It will probably be the most substantial purchase you'll ever make and buying a home in Vaughan in areas such as Thornhill, Kleinburg, Maple, Woodbridge or Concord  are sure to appreciate more than the GTA average because of it's great location. It has what all families need and it's safe as well. But the satisfaction of making that big purchase can sometimes be spoiled by the confusion and hassle that comes along with it. So before you start choosing colour schemes and new furniture, there are many practical factors to consider first. Here's a few tips on making the process smoother.
Make a Wish List - It's OK to dream
First off, spend quality time before you start looking for a home and determine your needs and wants. Develop a predetermined shopping list of features you are willing to compromise on and ones you aren't. To properly prepare a home buying strategy, you must examine your lifestyle and budgeting priorities. The decision between a condo or house, detached or semi-detached could have just as much to do with personal preference as it does with expense. Once you have figured out exactly what you want in a new home, your next important step is to ensure that you are financially qualified to make such a substantial purchase.
Get Qualified
Particularly for a first-time home buyer, it's absolutely critical to find out what kind of mortgage you can afford, even before you start looking. Too often, arranging a mortgage is left to the very end, forcing borrowers to scramble for financing. Prudent buyers will get pre qualified. If you need help with this, I can refer you to some of the best mortgage specialists in the city of Vaughan whether you are in Thornhill, Maple, Kleinburg, Concord or Woodbridge. They will get it done for you and lock you into the best rates possible.
The Down Payment
Next you need to ask yourself how much of a down payment can you afford. Depending on the interest rate environment, you may be able to spend a lot more (or less) than you imagined. But it's vital to remember what you have saved isn't necessarily what you want to use, as there are extra costs that come in to play as you go through the entire purchase, including emergency funding. 
After you've considered how much you can afford for a down payment, the next step is contacting a bank or mortgage broker about getting qualified. Based on personal information you provide such as your income, debt and assets, you can receive a pre-approved mortgage, including an interest rate commitment for a set length of time.
Don't forget to work with the lender to find the right type of mortgage that suits your needs. You'd be surprised to discover what's negotiable. Some people want an open mortgage, some people need a closed mortgage. Whatever is your choice, please ensure you shop around and use someone who takes you through a needs-analysis assessment where you'll be asked questions about your borrowing strategies and what's important to you. Once you receive a pre-approved mortgage, you can confidently negotiate the purchase of a home. It's a no-cost, no-obligation deal that lets you know before you go house hunting how much you can afford to buy based on how much you can afford to borrow.
Finding the Right Agent
When looking for a home, one of the most important factors you'll have to consider is location. Once you've determined a few options for where you want to live, the next step is finding the right real estate agent.
Real estate agents are like matchmakers, bringing buyers, sellers and homes together. Agents must be on top of the market - in terms of sales, listings and house prices in the area. But most importantly, real estate agents need to make their clients feel at ease. Buying a home should be a great experience, not a nightmare.
While employing a real estate agent won't cost you anything (he or she gets paid by the seller), you may be asked to sign an exclusivity agreement with the agent, which is entirely up to you. Get an agent that you can get along with and who will work with you.
To find a good agent, let the referrals speak for themselves. Ask friends and family to recommend agents they've dealt with in the past. I would not use any part time agent. Why would you want to? This is the biggest choice you'll make. Use someone who lives and breathes real estate day in and day out. I've had dealings with part time agents, who quite frankly, are doing a disservice to their clients.
Making an Offer
A good real estate agent will also be an experienced negotiator, with an understanding of how flexible a certain seller will be. But before making an offer, do your research. Find out how long the property has been on the market. If it's a new development, find out how much others have been selling for.
In many cases, a deposit is made and you may be advised to sign a "conditional" offer. When buyers and sellers strike a deal, loose ends often need tidying up before the buyer will proceed, such as financing or selling your existing home. For resale homes, you should never make the offer final without a proper home inspection, conducted by a licensed engineer to look for any major problems with the house that could end up costing you down the road.
Once these conditions are met, you should be prepared to make the offer "firm and binding." If not, the deal is off and you get your deposit back.
Finding the Right Lawyer
Don't wait until after the deal is struck before choosing a lawyer. YouWhen looking for a lawyer, make sure he or she is a real estate specialist. To find the right one, remember that quality and experience are the key, not just the price. Since a lawyer/notary's role is part advisor and part confidant, a good rapport with him or her is a must. As with finding a good real estate agent, ask friends and family if they have anyone to recommend. If you need one, again, I can refer you to some of the experts I have been dealing with for years.
Closing the Transaction
Unfortunately for first-time home buyers, closing costs are often an unwelcome surprise. Besides the basic purchase price, you will face a long list of expenses before taking possession of your new home: legal fees, land transfer tax, title insurance, disbursements, adjustments and insurance policies to name a few.
For a resale home, these "extras" can easily add 1-1/2 to 2 per cent onto the basic purchase price. For brand new homes, that figure can easily reach 2-1/2 per cent. The time to check out these charges is before the offer is signed, not afterwards.
Finally, you don't want to be pressured into anything you may regret later. Use an agent that has all the facts, is experienced and knows the market. If you have any questions or concerns, please call. Enjoy your day.
View more services  
adminlistingsprivacy policycontactsite map

Top Remax Agent Vaughan Vaughan Homes For Sale Vaughan Condos For Sale Vaughan Condos Real Estate Listings Centro Square Condos for Sale Homes For Sale Vaughan Vaughan Real Estate Listings Kleinburg Homes For Sale Kleinburg Real Estate Listings Woodbridge Real Estate Agent Woodbridge Homes For Sale Woodbridge Real Estate Listings East Woodbridge Real Estate Listings East Woodbridge Homes For Sale West Woodbridge Real Estate Listings West Woodbridge Homes For Sale Maple Homes For Sale Maple Real Estate Listings Sonoma Heights Real Estate Listings Sonoma Heights Homes For Sale Vellore Village Real Estate Listings Vellore Village Homes For Sale Vellore Woods Homes For Sale Vellore Woods Real Estate Listings Islington Woods Homes For Sale Islington Woods Real Estate Listings National Estates Homes For Sale National Estates Real Estate Listings Weston Downs Real Estate Listings Weston Downs Homes For Sale Rural Vaughan Real Estate Listings Rural Vaughan Homes For Sale Vaughan Valley Real Estate listings Vaughan Valley Homes For Sale Vaughan Grove Homes For Sale Vaughan Grove Real Estate Listings Elder Mills Real Estate Listings Elder Mills Homes For Sale Woodbridge Highlands Real Estate Listings Woodbridge Highlands Homes For Sale Thornhill Woods Homes For Sale Thornhill Woods Real Estate Listings Upper Thornhill Woods Homes For Sale Upper Thornhill Woods Real Estate Listings Patterson Real Estate Listings Patterson Homes For Sale Glen Shields Real Estate Listings Glen Shields Homes For Sale Dufferin Hills Real Estate Listings Dufferin Hills Homes For Sale Brownridge Real Estate Listings Brownridge Homes For Sale Beverley Glen Real Estate Listings Beverley Glen Homes For Sale Uplands Homes For Sale Uplands Real Estate Listings Lakeview Estates Homes For Sale Lakeview Estates Real Estate Lisitngs Crestwood Springfarms Yorkhill Homes For Sale Crestwood Springfarms Yorkhill Real Estate Listings Vaughan Commercial Real Estate Agent Vaughan Commercial Real Estate Listings Joe Team Andreoli