Do you ever wonder why your favourite movie stars always look so good? Or why your local coffee shop is always spotless and decorated for the season? The reason is simple: they have a team of professionals who meticulously arrange every detail.

Before you start wondering how this relates to your home-buying journey, think about all the professionals you have standing behind you as you search for your dream home. Besides your real estate agent, you have a whole team helping guide you home, including a real estate lawyer.

What Does a Real Estate Lawyer Do for the Buyer?

Buying a home is likely the most significant transaction you will make in your lifetime. This life-altering decision requires the support of professionals to make sure that every step of the process is followed, ensuring that every “i” is dotted and every “t” crossed.

The person who takes care of the dotting and crossing on every legal document is your real estate lawyer. If you’re new to the home buying experience, you probably know you need a lawyer but may not be sure what role they play.

A real estate lawyer is necessary both for the buyer and seller. We’ll start with their role on the buyer’s side. They ensure the transfer of ownership, outlining the terms of your purchase agreement and a clear title to the property. That is their role at the most basic; it goes far beyond, including the following:

• Review the Agreement of Purchase and all other legal documents
• Ensure there are no claims listed against the property
• Arrange for Title Insurance
• Ensure you have a valid title upon closing
• Ensure property taxes are up to date
• Calculate the land transfer tax due on closing
• Draw up the mortgage documents
• Close the transaction and ensure all legal and financial conditions are met
• Exchange legal documents and keys with the seller’s lawyer

What Does a Real Estate Lawyer Do for the Seller?

The real estate lawyer’s role on the seller’s side is also related to ensuring the transaction goes smoothly and that all legal aspects are covered. They are focused on the mortgage payout and a smooth transfer of the property’s title. Just like on the buyer’s side, a real estate lawyer performs several key tasks, including:

• Review the Agreement of Sale and other legal documents before you sign
• Assist you with the negotiation of the terms and conditions
• Prepare the deed to your house
• Deal and remedy title issues as they occur
• Close the transaction
• Ensure all legal and financial conditions have been met
• Exchange legal documents and keys with the Buyer’s lawyer

When Do You Need a Real Estate Lawyer?

Whether you are buying or selling a home, you will need a real estate lawyer to register the transfer of property with your province’s land registry office. You are required to have a lawyer because lawyers can access Provincial Electronic Land Registration Systems. Every province has different regulations, but a legal professional must register a property and purchase a home to ensure it is legal.

While many real estate transactions in Canada use standard form agreements prepared by realtors, a lawyer will review and amend these contracts to ensure they cater to specific needs or situations. They can also conduct a title search to ensure there are no liens or other encumbrances on the property and help you understand and secure title insurance, which is becoming increasingly common in Canada.

How a Real Estate Lawyer Can Help with Complications

A real estate lawyer is indispensable when a housing deal faces complications, such as when a property is appraised at a value lower than the agreed offer. The attorney can provide clarity on the contractual implications of such a scenario. Many real estate contracts contain appraisal contingencies that allow the buyer to renegotiate or withdraw from the purchase without penalty if the appraisal is low. The lawyer can review the terms and advise on potential avenues of action. If both parties remain keen on completing the sale, the attorney can facilitate negotiations, ensuring that any new terms or price adjustments are legally sound and in the best interest of their client. A real estate lawyer can also investigate if the appraisal was conducted accurately and fairly, providing grounds for a potential challenge or request for a second opinion.

Can a Real Estate Lawyer Represent the Buyer and Seller?

In real estate transactions, it’s generally considered a conflict of interest for a single lawyer to represent both the buyer and the seller. This is because the interests of the buyer and the seller can often be at odds. The seller aims for the highest price and best terms, while the buyer typically wants the opposite. A single attorney representing both parties can be put in a difficult position, trying to serve two masters with diverging goals. Dual representation also increases the risk of malpractice claims, as either party might later believe they were inadequately represented if the deal goes awry. Each party deserves an advocate who can negotiate and advise with their best interests in mind. This becomes compromised when one lawyer tries to balance the needs of both parties.

Now that you better understand the real estate lawyer’s role, it’s time to choose one that will best represent you throughout the transaction. Choosing a real estate lawyer is something The Barnett Real Estate Team can help you with, as they often work closely with trusted professionals.

Many Canadians who currently rent are dreaming of homeownership. If you fall into this camp, you may be wondering whether 2022 is the time to make your dream come true. The truth is, there are many things to consider—including which option will most benefit you financially. 

If you’re trying to decide whether to buy or rent the next place you call home, here’s what you should know…

The current market

When you’re thinking about buying, it’s important to understand local market conditions. There’s no doubt that we’ve been in a seller’s market for some time now, and (while we certainly can’t predict the future) there’s no indication that this trend is going to change anytime soon. 

While 2022 has just begun, last month’s numbers can provide us with some much-needed insight. In Halton Region, the average home price is on the rise—and for December, it reached $1.34 million. In Milton, it was nearly $1.35 million, and in Burlington, it was $1.23 million.

In other words, it’s hard to get a foot in the market right now. Given the sums of money involved, it’s critical to think your decision through. That said, if you have the time and resources to compete, there are some substantial benefits to doing so. 

From long-term appreciation to greater financial security, there are many reasons why so many buyers can’t wait to take this step—even if it means starting with a small condo when they’re looking forward to buying a house. Let’s take a closer look at the financial advantages of purchasing a piece of real estate right now.

The first step towards buying a home is making sure you’re informed. You’ll find in-depth information about what the process is like right now in our recent blog posts below.

• How New Government Policies Could Help First-Time Buyers
• Your Guide To The First Time Buyers Incentive. Is It Worth It?
• Best Burlington Condos For First-Time Buyers

The financial perspective

Studies frequently show that in most cases, owning a home is more financially beneficial than renting in the long run. To start with, as The GTA’s population grows, so too does the number of people who need a place to live. That’s putting rentals in high demand, so it’s no surprise that rents are on the rise. Unfortunately, when you pay this monthly cost, your money doesn’t work for you. It helps your landlord pay their mortgage.

If, on the other hand, you decide to buy, a significant portion of your mortgage payments will go towards your principal. In a sense, it can be considered a forced savings account (since you’re constantly building equity). When you look at it this way, you can see how monthly rent can be significantly more costly than your mortgage payments. 

When it comes to improving your financial situation, owning a home gets even better. You’ll not only benefit from equity but long-term appreciation. In the vast majority of cases, local real estate becomes more valuable over time. While the market fluctuates, it also bounces back—and an experienced agent can help you get top dollar when you’re (eventually) ready to sell.

Buying a home also gives you the opportunity to bring in passive income if and when you decide to move into another home. By renting out the living space you buy, you can grow both your bank account and your personal net worth. Having an investment property is also a great way to diversify your portfolio. 

Ready to learn more about the purchase process? Start by downloading our buyer’s guide right here.

Your long-term priorities

Let’s say you don’t have your future financial security in mind, nor are you thinking about growing your wealth by investing. The truth is, you’ll almost certainly need to think seriously about money matters in the years ahead. Owning a piece of property can give you a significant headstart.

Of course, there are other reasons to buy a home, the biggest one being your quality of life. If you’ve always envisioned yourself in a place you can truly call your own—where you can renovate to your heart’s content and take pride in ownership—that’s one of the best possible reasons to purchase if you can afford to.

All of that said, there are situations where renting is the better option. Will it put you in financial peril if you buy today? Are you unsure of where you want to be in the near future? Does the commitment of owning (and all the potential hassle and costs associated with ongoing maintenance) feel like a deterrent?

At the end of the day, the decision to buy or rent is a significant one, and it shouldn’t be taken lightly. The good news is, a real estate professional who’s passionate about what they do should be happy to answer your questions—and help you determine whether buying is right for you!

Have unanswered questions about buying a home? We would be happy to discuss them with you. Get in touch here.

As a real estate team, one of our most important relationships is with the mortgage brokers we work with. Aside from finding your ideal property, the most significant part of the home buying process is securing a mortgage and payment terms. 

At the Katherine Barnett Team, we work closely with several mortgage brokers. The reason we work with several is that much like choosing a real estate agent, choosing a mortgage broker is a very personal decision. It’s important to choose an individual who gels with your personality and can help you achieve your goals and meet your budgetary needs. 

In this post, we’re talking Agnes Mocko of Mortgage with Agnes and Joanna Skowron of The 6ix Mortgage Group to answer the questions you’ve always wanted to know about working with a mortgage broker. 

1. First of All, What’s the True Difference Between a Mortgage Broker and a Bank?

Joanna: When you go straight to the bank, you only have access to what that particular bank offers, and those mortgage programs may not be in alignment with what you need. However, working with a broker is a one-stop-shop! We collect the same information the bank does, but what’s different is that we have access to the whole spectrum of lenders at our fingertips, which includes the bank you were considering going to!

Agnes: Also, a bank has a certain type of box they need their applicants to fit into, which is why a lot of people get turned down. Mortgage Agents provide expert advice and work alongside their clients throughout the entire process. It’s almost as if you have a Google search engine in your back pocket throughout your entire homeownership journey.

Looking for more first-time homebuyer resources? You’ve come to the right place! Check out some of our other blogs:

• The True Cost of Buying a Home: What You Need to Know
• Our Top 8 First-Time Homebuyer FAQs
• How to Hire a Real Estate Agent as a Buyer

2. How Soon Should You Start the Mortgage Application Process when Buying a Home? 

Agnes: You should at least have a conversation with a Mortgage Agent as soon as you begin considering buying a home. The reason for this is because sometimes applications need some tweaking in order to get to the desired purchase price. A good mortgage agent can provide you with advice on how to meet your goal once that time comes. When it comes to a pre-approval, it is important to get one done prior to contacting a realtor. The reason for this is because once you have your pre-approval, you can confidently look for homes within your budget, avoiding any disappointment or wasted time on homes that may not be in your reach. 

Joanna: I would also add that the speed at which a client gets pre-qualified mainly depends on how quickly the required documents get sent over. I would recommend speaking with a mortgage agent about a week prior to house hunting to give a client adequate time to collect their paperwork and enough time for a mortgage agent to input all the information and ask for clarification if need be! 

The great thing about getting a pre-approval is that it offers a ‘rate hold’ that lenders will honour the interest rate the client has been pre-approved for or will adjust the interest rate if it drops for up to 120 days. 

3. Fixed-Rate Vs. Variable: Which Type of Mortgage is Better? 

Joanna: I wouldn’t necessarily say one is better than the other because it depends on what the client is comfortable with. If you’re the type of person who likes to know exactly how much you’re paying each month for peace of mind, I would recommend a fixed rate. If you’re the type of person who is okay with fluctuation in the payment, paying a little bit more or a little less, depending on how interest rates are looking, a variable rate could be the way to go. 

However, generally speaking, variable rates tend to be lower, and historically have shown to be less expensive in the long run.  

Agnes: It’s important to understand the penalties within the mortgage contract when making your decision. It’s quite common to see Canadian homeowners break their fixed mortgages. And fixed-rate penalties use either the greater of three months interest or a calculation known as the “Interest Rate Differential” (IRD). This is the difference between the interest rate attached to your mortgage and how it compares to a current rate that most closely matches your remaining term at that point in time. The issue is no one knows where interest rates are heading, making it impossible to predict. 

Variable mortgage penalties, on the other hand, typically only consist of up to three months of interest. 

Check out more homebuyer resources right here:

• 5 First-Time Homebuyer Mistakes to Avoid
• Download Our Buyer’s Guide

4. What’s the Number One Thing First-Time Homebuyers Should Know? 

Joanna: Get pre-approved! In a market where homes are flying off the shelves, it is extremely important to know what your budget is. Something I say all the time is house hunting without a pre-approval is like going shopping without knowing how much money you have in your wallet.

And with this pre-approval, the actual submission of your mortgage application is a lot easier. Because the majority of work has been completed in advance, you won’t have to worry about scrambling for paperwork in such a fast-paced environment. 

Agnes: I would say to get into the market as soon as you can afford it. You can buy a home with as little as 5% down. Be open-minded when looking for your first home. Remember, you are making an investment.

5. What’s the Difference Between a Mortgage Renewal and Mortgage Re-Finance?

Joanna: When the term of your mortgage is close to expiring, you’ll receive a notice from your lender offering you the option of renewing that mortgage with a new rate, and term. It’s a straightforward process stating that you’d like to move forward with your current lender, under the new specifications. 

Agnes: Refinancing a mortgage means you are replacing your existing mortgage with a new mortgage to do things like fund a renovation, take out money to buy an investment, secure a better rate, consolidate debt, etc. 

In order to get the money to refinance, an appraisal needs to be conducted on the home and the current mortgage balance is subtracted from this total. A borrower can then access up to 80% of the remaining amount. However, the borrower needs to qualify for this new mortgage amount.

Interested in learning more about mortgage rules and working with a mortgage broker? We host two webinars with Joanna and Agnes each month! Register for the next webinar here and join us live! 

Basement apartments are an increasingly popular trend we’re seeing among homeowners these days. As housing prices continue to rise, and the housing supply continues to diminish, people are looking for alternative ways to navigate the market. 

If you followed the recent federal election, you’d know that housing affordability was a major part of each party’s platforms. However, policies and laws can only go so far and many Canadians want to take things into their own hands. This is where secondary suites and basement apartments come into play. 

Here’s everything you need to know about buying a home in Milton with a basement apartment…

What Defines a Basement Apartment?

Basement apartments, sometimes also called secondary suites or accessory apartments are defined as a “self-contained dwelling” created by converting a section of the main dwelling into a secondary dwelling. 

Basements make popular accessory suites because it’s often fairly easy and inexpensive to turn a basement into its own apartment. 

What are The Benefits of Basement Apartments? 

Whether you’re a first-time homeowner or an empty nester, there are many benefits to having a basement apartment as part of your house. 

Getting your foot into the real estate market as a first-time buyer can be difficult. As home prices in Canada continue to rise, it’s becoming increasingly hard for young people to afford to buy a home. For these types of buyers, a basement apartment is a great option because it means they can collect rent from a tenant to help supplement their mortgage payments, improving affordability overall. 

Empty nesters can also reap the benefits of a basement apartment. These types of homeowners are typically dealing with excess space in their homes. If they aren’t quite ready to downsize but want to maximize the use of their space and make a little extra money, a basement apartment is a great option. 

Basement apartments are essentially real estate investments and can be used to further your space in the market, give exceptional landlord experience, and help you increase your investment portfolio. 

Buying a House with an Existing Basement Apartment vs. Building New

Basement apartments can significantly increase the value of a home. So if you are in the market for a property with an existing basement apartment, expect to pay a higher price initially. 

However, building a basement apartment might take an initial lump sum investment on your part, but in turn, will increase the property value should you want to sell later. 

If you’re currently in the market for a home, and you know you want to rent out the basement, it’s certainly worth looking into buying a house that has an existing basement apartment. It would save a lot of work and time on your part. 

However, it’s also important to consider the ROI. Do some research into how much building an accessory suite would cost vs. how much rent you could charge in that neighbourhood. This might give you a better idea of whether or not buying an existing house with a basement apartment is better for your unique situation rather than renovating and building your own. 

Ready to buy a home? Get started here:

• Our Top 8 First-Time Buyer FAQs
• The True Cost of Buying a Home: What You Need to Know
• A Buyer’s Guide to Pre-Emptive Offers

Thinking About Building a Basement Apartment? Don’t Forget About the Legalities

Building a basement apartment in Milton requires some careful planning and consideration on the homeowner’s part. For example, before you start building, you need to obtain a building permit and ensure your apartment meets certain regulatory standards:

• The basement apartment must be located in a detached single-family home. 
• It must have access to municipal sewer and water with either laundry in-suite, laundry connections, or shared laundry services.
• There must be at least three legal parking spaces on the property.
• Ceiling height must be at least 6′ 11″ (2.11 m), and 6’5″ under beams
• It must not be greater than 85m² or 915sq/ft in size. 
• 45 min floor and wall fire separation (requirements are different in older buildings)
• The dwelling must have its own private entrance.
• The home must have a walkout egress or window egress with a minimum 3.8 sq/ft clear opening.
• The building must have all the appropriate permits and inspections.

Legal vs. non-legal basement apartments is a hot topic in Milton and the GTA. Learn more about it in our blog What Makes a Basement Apartment Legal in Milton here.

How to Maximize Your Basement Apartment Income

Building a basement apartment is more than just sectioning off a part of your home and collecting rent. You are essentially becoming a landlord, which comes with significant responsibility. 

Although no two renters are alike, here are some general features that renters look for in a basement apartment:

• High-quality appliances and finishes (think, faucets, tub, shower, sink)
• Higher-than-average ceilings
• Large, bright windows
• Nice lighting 
• Open-concept floorplans
• All-inclusive utilities 
• Proximity to public transit, healthcare, grocery, and amenities

Read our quick guide to Milton Real Estate here to learn more about the best neighbourhoods for your unique needs.

It’s also important to attract the right type of tenant for your property. Consider your location and your ideal tenant and ensure that you are doing everything you can to attract that type of person to your listing. It’s also a good idea to complete credit checks and have your tenants fill out applications before agreeing to rent the apartment. 

Did you know we host first-time buyer webinars every month? Sign up to join our next webinar for FREE here.

When eager new homebuyers begin saving up for a home, it’s easy to fall into the trap of putting on the blinders and fixating on saving up towards one number in particular.

However, buyers can often forget to factor in the additional secondary and tertiary costs it takes to buy a home. For all buyers, new or recurring, these are critically important costs to know about.

So, whether you’re a first-time buyer or have set your sights on moving up, here’s a breakdown of some of the true costs you need to consider when buying a home.

The Deposit

The first expense you should plan for is the deposit. This is a percentage of the total cost of the home that gets paid to the seller or Seller’s agent brokerage right away to essentially “hold” the sale and show the seller you are committed to the purchase. Typically, a deposit is 5-10% of the total purchase price and is required to be paid within 24 hours of the offer.

The deposit also must be made in the form of a certified check, bank draft, wire transfer or Etransfer, which means a homebuyer will need fast access to funds when putting in offers. This money is typically paid to the Seller’s Realtor’s Brokerage company or sometimes to the seller’s lawyer to be held in trust until the home closes.

The higher your deposit, the more committed you may look to sellers and the more desirable your offer comes across. Once the deal is finalized, your deposit money can go towards closing costs or towards your down payment, which brings us to the next cost you need to plan for.

The Down Payment

A down payment is different from a deposit. The down payment is a lump sum payment that goes toward the final purchase of your home. In Canada, there are some rules around down payments. The minimum down payment you can pay is 5% for a home valued at $499,000 or less and 10% for homes valued at $500,000-$999,000. For homes over $1 million, buyers are required to pay at least 20%.

If possible, paying more than the minimum down payment amount is better because it means you will pay your mortgage off sooner, pay less interest, and build equity more quickly.

There’s nothing more fun than fantasizing about what your next home could look like. However, with the help of our Featured Listings page here, you don’t have to daydream quite as hard.

Your Mortgage And Interest Rates

Once your down payment has been accepted, you can deduct that amount from the final sales price of your new home. To account for the rest of the sales price, you’ll need to take out a mortgage.

Mortgages are essentially loans for homes. The total amount of your mortgage depends on a few factors, such as the cost of the home you’d like to buy, the amount of your down payment, what you qualify for based on your annual income, what your monthly expenses are, and your employment history.

Generally speaking, it’s either banks or private mortgage brokers who grant you a mortgage. Whoever you secure your mortgage from, you’ll have agreed on the total amount of your loan and the structure of how you’ll pay it back. In most cases, it’s in the form of a monthly payment to your lender, which will include an interest rate.

This means that if you’ve agreed to put down $2,000 per month towards your home, for example, this fee, plus whatever your mortgage interest rates are, will go to your lender.

What About Mortgage Insurance?

If you are unable to pay the minimum down payment for your purchase, you may still be able to get a mortgage, however, you will be required to purchase mortgage insurance

Mortgage insurance is an added cost that protects the lender since the lender is typically taking on more risk with a lower down payment.

Are you planning on becoming a first-time homebuyer? Ensure you’re well-informed about everything you need to know about your upcoming purchase by reading these related posts:

• 5 First-Time Home Buyer Mistakes To Avoid
• First-Time Home Buyer Grants in Ontario
• Our Top 8 First-Time Buyer FAQs

Land Transfer Tax

The province of Ontario requires homebuyers to pay them an additional fee called the Land Transfer Tax. Essentially, this reflects the provincial government’s cost of permitting you to transfer the title of property between their jurisdiction.

While each province has its own set of Land Transfer Tax rates, the amount you have to pay increases depending on the cost of your new home. The more expensive your new home, the higher the percentage of its value you have to pay in Land Transfer Tax.

In Ontario, the set of Land Transfer Tax rates ranges from 0.5% to up to 2.5% of your home’s value. However, if you’re buying a home in the Greater Toronto Area, the City of Toronto requires buyers to pay an additional municipal Land Transfer Tax alongside the provincial tax.

The good news for first-time homebuyers is that you may be eligible to have all or part of this one-time fee refunded. Eligibility for this refund requires buyers to qualify based on these criteria:

• The buyer must be a Canadian citizen or permanent resident of Canada
• The buyer must be older than 18 years
• The buyer must occupy the home within nine months of purchase
• The buyer cannot have previously owned a home anywhere in the world
• The buyer’s spouse cannot have owned a home while being your spouse

If that applies to you, then you can apply for a refund of the full amount of your Land Transfer Tax or up to a maximum of $4,000.

Lawyers’ Fees

In order for both the buying and selling parties to ensure they’re conducting a legitimate and viable transaction, it’s a real estate lawyers’ duty to review and approve all of the necessary paperwork and legal documents that are included in a transaction.

While both the buying and selling parties hire their own respective lawyers, both legal representatives work together to ensure the real estate transaction is completed smoothly and no contractual or legal details are overlooked.

As you might imagine, there are a lot of formalities and details that go into a real estate transaction, which is why it’s crucial you hire a dedicated real estate lawyer who has experience facilitating these types of deals. As with all lawyers, though, their services come with a fee, which you’ll need to factor into your overall budget as a homebuyer.

Whether you’ve already got an idea of who you’d like to hire or need help finding a legal representative, we work with a set of highly respected and experienced real estate-specific lawyers that we’re always prepared to recommend to our clients should they need it.

There are no ifs, ands, or buts about it — the safest way to buy a new home is through the help of a knowledgeable and experienced local Realtor®. Learn more about what we do, how we help, and how you can find the Realtor® that’s right for you here:

• How To Hire a Real Estate Agent As a Buyer
• Why You Should Work With a Realtor®
• 8 Steps to Finding the Right Real Estate Agent

Your Homeowners’ Insurance

Homeowners’ insurance is a form of property insurance that protects you, the homeowner, from any damages to you or your property once you own your new home. It’s also a requirement to get a mortgage.

In paying a monthly fee to a homeowners’ insurance provider, you are in essence paying for peace of mind. If any damages were to occur to you or your new home, your insurance provider would provide you with funds (up to a certain number) to pay for the cost of fixing the damages.

Although all insurance plans and providers are different, most homeowners’ insurance policies generally cover the costs of things like interior damage, exterior damage, the loss or damage of personal assets or possessions, and any personal injury that occurs on your property.

Interested in learning more about how we can help you make your upcoming home purchase the best buy of your life? Read all about our buying process and how we’ve helped buyers just like you find their dream homes the first time here:

• How We Help Buyers
• Our Buyers’ Guide

April 2021 – GTA Housing Market News

What is going on with the real estate market?

Here are the April stats:
– Number of sales is down 12.7% in April over March
– But, number of sales are up 36.6% compared to the 10 yr average
– New listings are down 8.4% month over month

Milton Real Estate Market

The average price in Milton is $1,061,348

Burlington Real Estate Market

The average price in Burlington is $1,055,023

Oakville Real Estate Market

The average price in Oakville is $1,458,793

Previous Reports on GTA Housing Market News – March, February, January

There’s no denying it. Buying a home can be challenging, especially when the market is hot. While saving up for your down payment is one thing, competing with other home hunters who all want the same property is quite another. Fortunately, if you find yourself in a multiple-offer scenario, there are steps you can take to increase your chances of success—and make the process as stress-free as possible.

Here are a few tips you can try if you’re competing for your dream home…

1) Understand the market

Whether you’re purchasing in Milton, Burlington, or elsewhere, it pays to understand the local market. That’s because current conditions will directly impact what constitutes a good offer—which is especially important when there are multiple bids on the table. Fortunately, an agent with up-to-the-minute insight on market trends, local prices, and comparable homes will be well-positioned to help you craft a winning strategy.

2) Know your own limits

Of course, it’s not just the market you should have a handle on. Understanding your financial situation is equally crucial. It’s all too common to get swept up in a bidding war and offer more than you can comfortably afford. As a rule of thumb, your housing expenses (including mortgage payments) should be no more than 30 per cent of your monthly take-home pay. Obtaining pre-approval can also help you budget, as it will give you a strong sense of how much financing you’ll likely receive.

3) Be prepared to act quickly

Here’s another great reason to obtain mortgage pre-approval: it will allow you to act fast when you find the perfect property. You’ll know what you can afford—and sellers will see you as a serious buyer. In a market where inventory moves fast, it could make all the difference. Other tips for taking quick, decisive action include setting thorough home-buying criteria, understanding your dealbreakers, and ensuring you’re mentally prepared to make a move when you find the right place.

4) Make the strongest offer possible

Buyers often assume that they’ll have an opportunity to up their bid during negotiations. It certainly happens. That said, in a multiple-offer scenario, you may not get that second chance. That’s why it’s often wise to make your best bid the first time around. Of course, every set of circumstances is different, and there are times when leaving room to bargain is the best course of action. Luckily, a skilled local agent can help you determine which strategy is right for you.

5) Work with a true professional

Buying a home presents challenges in the best of circumstances. When there are multiple bids on the table, the process only becomes more complex—and the consequences of making a small misstep can be much steeper. In other words, getting it right is key. From understanding seller motivations to crafting the ideal offer, a local agent with a proven track record can walk you through the process, answer all your questions, and empower you to make a truly informed purchase!

To help you make an informed home purchase, we’re providing our handy buyer’s guide.

Are you searching for the ideal family-friendly community? When you drive down peaceful tree-lined streets, see kids and parents out and about, and immediately picture you and your loved ones living there, too—that’s when you know you’ve found it.

Here are a few things to look for as you begin your search…

1) The Right Feel

The neighbourhood that’s right for you will depend on your family’s unique needs. But whether you’re in the suburbs, city, or a small town, being near other parents with kids will likely make you feel at home. You’ll probably want a place where you can get to know your neighbours—and be a part of a close-knit community. Many families also prefer quieter areas outside the downtown core, where there’s less traffic.

2) School District

Now’s the time to do your homework and look into local school districts. The Fraser Institute is a trusted resource when it comes to rankings for both elementary and secondary options. Once you’ve narrowed it down to a couple of schools, you may also want to book a time to visit each one. Taking this step will give you a better feel for the potential environments. You should also look into nearby daycares if you have a younger child or need extra support.

3) Amenities

To us, a family-friendly neighbourhood isn’t complete without convenient amenities. When you need to do a quick grocery run or pick up some supplies for a last-minute school project, you’ll be thankful you have all the shops you need nearby. And when it’s finally time to relax, having a great selection of local restaurants, cafes, and maybe even a local wine shop nearby may be just what you need to unwind.

4) Parks

Need a bit of fresh air? Kids and family members of all ages can appreciate a beautiful green space, especially when it’s within walking distance of your home. Whether it’s a playground with splash pads and basketball courts or a wide-open park with biking and walking trails, having a place to enjoy the great outdoors could greatly improve your family’s quality of life. In fact, the more options you have around, the better!

5) Family-Friendly Houses

Finally, let’s get to what matters most: your future home. Your ability to find the right house, condo, or attached living space will depend in part on how well you know your family’s current and future needs. Do you need an extra parking space for more than one car? How many bedrooms and bathrooms will you likely require in the years ahead? Should there be room for a potential in-law suite one day?

Finding the right home for your family can take some effort, but the right guidance will simplify the process. With our team, you’ll get all the help you need to plan for the immediate future—and far beyond.

You’ve planned and saved, and now it’s finally time to start your home search in earnest. Not so fast. Before you take the next step, you’ll want to ensure you have helpful expertise on your side.

The truth is, the right real estate guidance could mean a smoother, more enjoyable buying experience—and a better purchase price. If you’re ready to buy, read our top tips on how to hire the best local professional for you!

Conducting Interviews

Contrary to popular belief, not all buyer’s agents are the same. By speaking with a few different professionals, you can get a sense of what’s out there—and help ensure that you find someone who’s well-equipped to serve your unique buying needs.

Before interviewing prospective agents, jot down a few important questions. Some that you may want to touch on include:

• How well do you know my neighbourhoods of interest?
• Can you walk me through the buying process?
• Can you tell me a bit about your negotiation style?
• If I find myself in a multiple-offer scenario, how will you help me win?
• What’s the best way to contact you?

In addition to providing you with insight into the interviewee’s approach, sitting across from someone can help you get a sense of what they’re really like. If you feel at ease, it’s likely a good sign!

The Right Experience

It goes without saying that you want to work with someone who has a very solid grasp of the buying process. From obtaining pre-approval to making an attractive offer to wrapping up closing details, they should understand the common challenges associated with every step—and how to overcome them.

Next up, consider community expertise. If an agent has been working in your area of interest for years, they’re probably a great resource. If they can tell you about recent price shifts, local school districts, and the places that serve up the best coffee, it’s another potential sign that you’re in good hands!

You’ll probably also want to get a sense of whether they’re familiar with all property types. For example, you want to work with someone who has a reasonable amount of condo expertise if you’re buying a unit. Likewise, it may be helpful to know whether they’re used to working with buyers like you. In some ways, your needs will be different depending on whether you’re a first-time buyer or a downsizer.

Ask About Connections

These days, the best real estate agents offer full-service experiences. That means more than hands-on attention, ongoing expertise, and a willingness to help at any time. It’s also about having an available network of trusted professionals to assist you with anything that falls outside of their scope of expertise.

Trust us when we say, finding an agent with a reliable list of industry contacts is worthwhile. From mortgage brokers to real estate lawyers to professional movers, having insider connections who represent the best in the business can make the buying process much lower-stress.

Speak to References

Last but not least, don’t be afraid to ask for references. Some buyers are hesitant to take this step, but agents are used to it. Perusing reviews and testimonials can give you a good idea of the level of service (and results) a professional provides, but it won’t tell you the whole story. Nothing beats being able to ask questions firsthand!

There’s no doubt that finding the right agent takes a little more work than picking the first professional you come across, but it’s worthwhile. By doing your homework, you can help ensure a better buying experience—and a result you’ll be more than happy with!