Whether it is your first home, a luxury home, or a rental home, buying your next property is likely one of the biggest decisions you’ll make in your life. It’s a complex ordeal that requires a lot of planning, where instating the help of a knowledgeable agent can be pivotal in making the process run smoothly.
Andrea’s thorough understanding of market dynamics combined with her experience with starter, investment and luxury homes makes purchasing fun and enjoyable. Andrea guides buyers through many options, negotiates aggressively to ensure her buyers get the best price possible, and when needed will draw on her vast pool of resources in design, construction and development (and even new home builders) to find the perfect home for every client.
General Overview of Buying Process
There are many benefits to home ownership — pride of ownership, the ability to make home improvements, building of equity, and market appreciation. To ready you for this, here is a general overview of what to expect and prepare.
1. FINANCES
The first step in buying a home is to review your finances. This requires money for a downpayment (minimum 5% of purchase price), and it also requires pre-approval for mortgage from a lender. Meeting with your bank or mortgage broker prior to shopping for a home is strongly encouraged, as the information they give you will determine the maximum price range for your next home. Not all lenders and mortgage brokers are the same, as they will each offer slightly different services and rates. Shopping around for the best rate is highly recommended. Andrea works with many great mortgage brokers and would be happy to connect you as needed. For a quick reference on downpayment and monthly mortgage payments, click on mortgage calculator.
2. DEFINE WHAT YOU WANT
Once you’ve established a price range, it’s time to decide what type of home will best suit your lifestyle. Think about things like access to schools, recreational facilities, what the neighbourhood is like, and so on. Why you’re choosing to buy should help answer these questions for you — so think about it carefully. You may want to put this down in writing and create a needs v/s wants list.
3. SELECT AN AGENT
It’s important to partner with an agent you feel completely comfortable with. Andrea is experienced and very knowledgeable in vast areas of real estate, including new homes, resale homes, design, construction, renovation, rentals, luxury homes, recreational homes, acreages or condominiums. Andrea will represent your best interests. Andrea will pull existing and historical market statistics, gauge sale price trends in the specific area you are interested in, negotiate the best price, guide the inspection process, and close effectively and efficiently.
Andrea has vast experience in the industry with a background in design, a masters degree in urban/city planning, a plethora of work experience with developers and municipalities, and twenty years of personal interests in investment properties.
4. SEARCH & FIND
Andrea will set you up with your own online search platform. This will be accessible to you any time you wish to review listings in your desired area. You will be able to favourite the ones you want to short list, connect with Andrea with questions about any of the properties, or book showings. You can also sign up for auto alerts, so that the moment a home specific to your criteria hits the market you will be notified via email or a text. Or, if you choose to want to have a weekly update of new listings within your target area, then this is also easily done.
5. OFFER & CLOSING
Once you find the right home, Andrea will review statistics of sold statistics in the area and will discuss best strategies and price point for negotiation. An offer can be presented with conditions for financing, home inspection, sale of your home, and condo document review (for condos), so that you have an opportunity to ensure that everything is in order prior to firming the deal. Andrea will help you through each of these steps. Andrea will send your paperwork to your lawyer once conditions are waived, and they will walk you through the final legal bits needed to close.
