Finding the right real estate broker
You want to find the right home, in the right location, at the right price - and you want to do it quickly, with minimum hassle. The best way to do that is to work with a professional realtor who understands your wants and needs, your time frame and your financial boundaries.
Why work with a real estate broker?
Choosing a neighbourhood
You’re not just buying a home - you’re buying a location. And even the most perfect house won’t feel right if you’re in the wrong neighbourhood. Educate yourself about the area so you’ll choose wisely - and end up being happy with your decision.
Protect yourself with a home inspection
That gorgeous house on the corner lot may look great, but it could be hiding all sorts of expensive, annoying problems, from a leaky roof to faulty wiring to a mouldy basement.
Make sure your home is solid and secure inside and out before you buy it. A home inspector will determine structural and mechanical soundness, identify problem areas, provide cost estimates for any work required, and generate a report. It’s a great way to avoid headaches and costly problems that can turn a dream home into a money pit.
If you decide to go ahead and buy a home with issues that have been flagged by your inspector, you can base your offer on how much potential repairs and upgrades may cost.
Home inspection costs range according to size, age and location of the home. Your real estate broker can recommend a reputable home inspection service or arrange for an inspector to visit your property.
Types of home ownership
What type of home is right for you?
There are three categories of home ownership: freehold, condominium and cooperative. Each has its benefits and drawbacks - speak to your real estate broker to figure out which type will work best for your needs and your lifestyle.
Freehold homes offer two significant benefits: freedom of choice and privacy. Since you own the structure and grounds, you’re free to decorate and renovate whenever and whatever you want. However, all maintenance (indoors and out) is your responsibility - be prepared to spend time and money taking care of your home.
Condominiums are typically less expensive to own than a detached house. With a condo, you own (and are responsible for) the interior of your unit. Upkeep of the building and grounds is handled by the condominium association, which is funded by monthly fees collected from tenants. The down side? Condo residents enjoy less privacy than residents of detached homes, and often have to adhere to strict rules regarding noise, use of common areas, renovations, etc.
Co-ops are like condominiums, except instead of owning your unit, you own a percentage of shares in the entire building. One drawback to living in a cooperative is that if you decide to sell your shares and move out, the co-op board has the right to reject your prospective buyer.