How can you find the right home?

The Telegram (St. John’s) - Home Buyers' Guide - - OPEN HOUSES -

You have fig­ured out what you can af­ford to pay for a house and ob­tained a pre-qual­i­fied mort­gage. Now, where will you start your search? There are a va­ri­ety of sources you can use to find the home that is right for you: News­pa­pers and real es­tate mag­a­zines. Check the new homes sec­tion in daily news­pa­pers or look for the free real es­tate mag­a­zines avail­able at news­stands, con­ve­nience stores and other out­lets. Th­ese free pub­li­ca­tions fea­ture pic­tures and brief de­scrip­tions of a va­ri­ety of homes. “For Sale” signs. Drive around a neigh­bour­hood that in­ter­ests you and look for “For Sale” signs. This is a good way to find homes that are be­ing sold by the owner. n Visit new de­vel­op­ment sites. If you are look­ing for a newly built home, this will al­low you to see the dif­fer­ent mod­els avail­able and to get in­for­ma­tion from builders. Work with a real es­tate agent. For most buy­ers, a real es­tate agent is key to find­ing the right home. Fur­ther, here are a few tips to help you in your search for a home: To make sure you have all the in­for­ma­tion you need to com­pare homes by search­ing for CMHCʼs ʻHomeHunt­ing Work­sheetʼ on­line at Donʼt for­get to con­sider the homeʼs en­ergy rat­ing, util­ity costs, prop­erty taxes and ma­jor re­pairs, as th­ese will af­fect your monthly hous­ing ex­penses. Ask to see copies of bills. You should also be ready to com­pro­mise. Chances are you wonʼt find a home that has ev­ery­thing you want. Check out the ex­ist­ing fi­nanc­ing on the prop­erty. It may be pos­si­ble to take over a favourable ex­ist­ing mort­gage from the ven­dor or even ob­tain a ven­dor take back mort­gage in or­der to help close the deal. n Think twice. Even if a home seems per­fect, go back and take a closer, more crit­i­cal look at it.

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