Step by Step Guide for Dream Home Purchase

Step by Step Guide for Dream Home Purchase

Buying our own house is the most significant investment for us. The longing to find the perfect home can become overwhelming and stressful. Make sure you have someone who has the experience to make the process smooth and give expert advice. It is right for you to find a professional realtor® to ensure a safe and reliable home purchase.  

Mike Bolger helps clients find their dream homes by guiding them at each step. Every step from showing houses based on your interest and determining the cost you can afford to presenting the offer and finalizing the sale. We make buying your dream home much simpler by helping you find the right home in a suitable neighbourhood at the best price. This step-by-step guide is thorough enough to give you a clear picture of your dream home purchase. 

1. Finalize Your Decision to Buy

A final decision is more than simply picking a house; it involves making a list of expectations from a new home. Figure out what type of facilities you want inside and near your home. These can include anything, for example, the number of bedrooms, storage facilities, nearby schools and workplaces.  

Decide the type of ownership you desire. There is freehold ownership (entirely yours), condo ownership (property care is shared), and co-op (buying shares in the building and paying maintenance charges). Research the market conditions to evaluate the region to the region price difference. Working with a professional realtor can benefit you with a good decision. 

2. Choose the Right Real Estate Agent

The relationship with your chosen realtor® matters much because he must understand your needs, and you trust him. Look for expertise, mutual respect and professionalism in your agent. Your realtor® must look after your best interests and deliver information to you with transparency.  

The right agent will be up-to-date on evolving market conditions. He updates you about the required budget according to your needs and wants for your dream home. A good communicator who negotiates on your behalf and coordinates with other professionals you will need during the process. It is his job to advise you on financing and challenge resolution, but ultimately it is up to you to deal with them as required.  

3. Organize Finances

Only you know the best price range you can afford. Plan ahead of time and see how much you can spend. Gather money for the down payment. It is a percentage of the total cost of the home. Organizing finances goes a long way because the more you put down as a down payment, the lesser will be your monthly payment. Your realtor can assist you in finding a home that fits your budget and is closest to your desired home. The last but most important task is to get your mortgage pre-approved.   

4. Make an Offer on a Home

If you have found the right realtor following step three, you are good to make an offer on a home. Your agent will assist you in placing the right offer, considerate of crucial terms such as home conditions, price, deposit, specific items and closing date. Your realtor's experience will benefit you in dealing with an offer rejection or a counteroffer from the seller. He knows appropriate and equitable negotiation methods to convince the seller to consider your needs, and he might win you an offer.  

5. Get a Home Inspection 

Before buying a house, what you must get done is careful inspection. Getting an inspection of the potential home is essential to avoid unpleasant surprises in the future. You can hire a home inspector yourself, or your agent can recommend you one. The home inspector will assess the property and provide you with a detailed written report on structural damage, electrical problems, or plumbing problems. 

6. Closing Day Responsibilities

Finally, it is the day you become the official owner of your new home. However, some tasks need to be done, and you complete them on this day. You pay the closing costs such as mortgage application fees, inspection fees, insurance, legal fees, registration or any other pending fees before the day ends. Your real estate agent will help you at each step; so, no need to spin your head with worries. And finally, for your moving day, you can contact an accredited moving company to shift all your belongings to your new house.  

Mike Bolger is a REALTOR® in Waterloo that offers expert real estate services in Waterloo and surrounding areas in Ontario. Work with us and have a stress-free home buying experience. 


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