Thinking over these questions can help you prepare yourself
for the homefinding process.
- a) What do you want in a house?
b) Which could you do without?
- What areas would you like to live in?
- Have you any special needs (i.e. school, recreation, transportation)?
- Ideally, when would you like to be in your new home?
- What homes and areas have you already looked at?
- Are you registered in the OHOSP
(Ontario Home Ownership Plan)?
- Have you been pre-approved for a mortgage?
If so, where?
- Do you know about closing costs?
- Have you selected a lawyer?
If yes, who?
- a) What is the maximum amount of cash you have available to buy a
house? (A
mortgage calculator
can help you determine this figure.)
b) If it's the right home but you'd need an extra 3 or 4 thousand
dollars, is it even a possibility?
c) What are the maximum monthly payments you'd even consider?
d) If it's the right home, but the payments went up 2 or 3 dollars
a day, would you still consider it?
- If you find the right house, are you ready to buy today?
- Is there anyone you have to check with before you purchase?
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