Buying or Selling? Let your REALTOR® be your guide.

Five things to know when buying your first home
Buying your first home can be a daunting experience. That’s why your REALTOR® is a great resource and can help ensure it goes as smoothly as possible. Follow these five steps for an unforgettable experience at buying one of the biggest purchases you will ever make:

1 Always have a good down payment. In Canada, it is mandatory to have fi ve per cent of the price of your home for your down payment (with the purchase of mortgage default insurance; 20 per cent without). However, the bigger the down payment, the quicker the mortgage is paid!

2 Always use a REALTOR®. A REALTOR® will be able to help you with things you may not know about when purchasing a home privately including the disclosure of any problems with the home, to the community’s amenities.

3 Search for a home with a good school district. In Canada, it is mandatory to have fi ve per cent of the price of your home for your down payment (with the purchase of mortgage default insurance; 20 per cent without). However, the bigger the down payment, the quicker the mortgage is paid!

4 Reserve cash for unexpected expenses. Whether your house is years old or brand new, you never know when unexpected expenses will pop up. Making sure you have a good amount of money saved for these purposes is important when buying your home.

5 Have a home inspection done. Buying a home is one of the biggest purchases you will ever make. By having a home inspection done, you are eliminating the risk of those unexpected expenses that could have been found by a home inspector prior to buying your home.

More information on how to select your REALTOR® can be found on www.trustedguide.ca



Our Editorial Staff

Our Editorial Staff

New Homes & Renovations is a consumer publication dedicated to the home building, renovating and decorating industries of Nova Scotia, Canada. With homeowners and consumers in mind, the publication features articles, tips and stories on local projects and businesses