Buying a Home

Get informed about the home buying process, before it begins, to save time, hassle and money.

Don’t be tempted to hire the first home buying real estate professional you meet. Make sure the fit is right, check their references and visit the RECO website to confirm their registration.

Before you sign a home buyer representation agreement, make sure you know what it means, how long it will be in effect and what the different clauses mean. Ask questions and seek independent legal advice if you’d like a second opinion.

• Remember to include legal fees, land transfer tax, mortgage insurance and utility hookups in your total cost.
• Know the costs of a home inspection and home appraisal or survey.
• Moving costs can vary based on volume, distance and whether you hire a professional mover. Have wiggle room in your budget to cover the cost.

Make your offer as detailed as possible. Outline what will be included with the sale (e.g., appliances and light fixtures) and be clear if certain renovations need to be completed, based on the home inspection.

If you encounter a bidding war, enter with a strategy. Set ground rules in advance about what you want from a home, what you’re willing to spend and what conditions must be met. Once your rules are set, stick to them. When there are competing offers it can be tempting to waive your conditions (such as a home inspection). Think twice before doing this.