Buying a home is a top priority of newlyweds and of those who are going to marry soon. Although, looking for your dream home is an exciting yet tiring process because it demands attention and time. Buying a home for yourself is completely different from buying a home with your spouse. You have to keep different factors in mind because two people of different mindsets collaborate to be on the same page. Therefore, in order to minimize your tensions and to maximize your excitement. We’ve collected some of the proven tips for you.
What’s your budget?
It is better to talk about the budget with your partner as some people want to buy a starter home whereas others want to get a dream home with all luxuries. Discuss your finances with your better half and try to keep things a bit minimalistic so you can easily afford a place suitable for both of you.
We advise you to make a complete list of all your spending (i.e. bills, loans, monthly grocery, etc.) and your income. Try to calculate the amount which you gotta spend on the property tax, maintenance fees, and down payment so you can get a better knowledge of the actual amount that you can devote to your home.
Another very important thing to consider is the facilities that you want to have in your house. For example, gyms, no. of bedrooms, swimming pool, double story/single-story, restaurants, car-parking, and distance from your workplace. After discussing your priorities with your spouse, note all the must-have amenities. It will also help you in shortlisting the homes. Many condo complexes in Canada provide all types of amenities including big parks, swimming pools, car parking, gyms, and grocery shops within walking distance.
While looking for amenities one of the most important things is to consider the neighborhood. What type of neighborhood you want to live with and what are the choices of neighborhoods that are in your mind? Selecting the right neighborhood is very important for a safe and sound lifestyle. Location and appearance are two important key points while selecting neighborhoods. The location of the place defines the amount you gonna pay. You can choose the neighborhoods that are present near public transit and have easy access to hospitals and schools.
Developers are responsible for the construction of buildings and apartments. They take care of all the necessary supplies and ensure the safety of the building. Collect the complete information of the developers of the homes in which you want to live as the reputation of developers can tell a lot about the reputation of the property.
Some developers make frauds with people and use the worst material during construction of the properties. So, it is always better to obtain complete info before investing your precious time and money. Do some online research about the developers and select the reputable one.
Approval of mortgage
If you can buy a home without getting a loan then it is cool. Otherwise, you dont have to worry because you can take a mortgage for buying a property. Loan companies need some down payment and do complete background check. It is not a big deal to get a loan if you follow the right steps.
Approval of that loan or mortgage is very important for buying any property. Pre-approved loans show your seriousness in buying the property. Before applying for a mortgage, you should make a checklist of all your finances. You can take a mortgage from banks or private firms; it depends on you.
However, they often check your complete biography and previous details including all the financial background details. It is a wise decision to pay back all the loans and pending payments so that when the loan company starts checking your financial background you don’t have to get embarrassed then. Make sure that you both have no financial secrets otherwise it will create an awkward situation for both of you and you’ll lose your reputation as well.
Visit the home
If you have selected some apartments/condos then, it is time to visit the selected places. Select a perfect one for you that suits your requirements and taste. As it is one of the most important investments of your life so make a decision wisely and inspect the house carefully. If it requires any renovation or changes, ask the representative to complete them before shifting. By visiting, you can also get the idea of furnishing and furniture adjustments according to the size and dimensions of the rooms.
Last but not the least, don’t select a house in hassle. It could be a devastating mistake which can cause serious harm to your life and your marriage. Buying a dream home is after your marriage is new for both of you and you can make it one of the most beautiful decisions of your life by remaining patient and selecting the right dwelling for both of you.
Because it is one of the biggest investments of your life, therefore, we advise you to look for some economic choices. You can also make an appointment with some preconstruction condo associations if you want to buy a luxurious yet classic home. There are many new condos in Etobicoke that are offering homes with all necessary amenities at a low price. For example, you may like to look at the options like these ones: Valhalla Town Square Condos, The East Mall Condos, Lakeshore Boulevard West, and Sherway Gardens Redevelopment. The main benefit of buying these condos is: the price of your property will increase after the completion and development of these complexes and you can furnish your dream home according to your taste.
Remember this is a decision of two not one, so it is always better to discuss everything with your other half before buying a house. Keep things easy and plan everything. You can get help from all the tips mentioned above as we’ve organized these tips after thorough research.