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The following article was published in our article directory on February 8, 2011.
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Article Category: Advice
Author Name: Paul Stephens
Buying a home in Canada is serious business as there are myriad things you should prepare for and be aware of. Even if you don't know a thing about real estate, you should know that purchasing property is not just about taking your pick among condos and lofts. If you are planning to buy a house anytime soon, here are a couple of tips that can help you get a hold of the best deal:
Choose your agent or realtor carefully.
Crucial to finding a great deal is finding the perfect real estate agent who will guide you every step of the way - from looking for the property that suits you best to answering all your house-related queries. As such, it is important that you take time asking around and asking family and friends for referrals. If they cannot come up with names, you can always try browsing newspaper ads and online listings. Just make sure that you spend some time looking into the credentials and customer feedback of the agent you're interested in approaching. Now if you don't want to take the risk of hiring someone you don't know but you don't have a choice, make a beeline for a trusted real estate company such as Remax to avoid being duped.
Zero in on what you want to purchase.
Of course, the first thing you need to discuss with a real estate agent or a realtor is the type of property you should and can purchase. You might have an idea already; if this is the case, do not hesitate to get your opinions across to him or her. There are several types of housing you can choose from, such as the following: detached, semi-detached, duplex or triplex, bungalow, townhouse, split-level, ranch, and two- or three-story, among others. Make sure that you do ample research on each so that you'll know which type will suit your needs, preferences, and most importantly, your budget.
Be aware of all the expenses you need to cover.
Aside from the downpayment you have to give the seller, there are also closing costs you need to shoulder before you can actually obtain ownership of a piece of property. Knowing this, before committing to any one seller and before you get overly excited over a house for sale, ask your real estate agent to make a list of all the things you need to pay for. Then, decide whether or not you can cover all these based on your finances. If you can't, don't push it. Look for another property you can invest in.
Make a wise purchase.
Before anything else, do not - under any circumstance - buy property on a whim. Keep your emotions in check and do not let your heart overrule reason. Remember: if after looking at the details you realize you cannot afford a home without drastically changing your lifestyle, do not push through with the deal - even if you feel like you just have to have that piece of property. Anyway, if you act hastily you will end up losing it, as it is unlikely that you will be able to keep up with the payment schedule if you bite off more than you can chew.
Keywords: Toronto, real estate, condos, lofts, remax, realtor, agent, homes, sale, Canada
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