Buying a home is a complex and often very emotional process. It is quite often the largest investment most people will make in their lifetime. Everyone has a story to tell: a great deal made and lost, a bargain that wasn’t, the frustration of a price war, and so on. Truth is that buying or selling a home is a major business transaction - one of the biggest most of us ever make. It requires tremendous knowledge and experience and a clear understanding of the legal issues and potential pitfalls. That’s why it helps to use the services of a real estate professional who is a member of a real estate board.

REALTORS have the training, knowledge and experience to help you every step of the way - from the moment you think about buying or selling, to the time when the business transaction has been finalized. Whether you are just thinking about buying or selling, or have already enlisted the services of a real estate professional, the Ontario Real Estate Association’s (OREA) has a “tip” book that will help take the mystery out of a process often viewed as complicated and confusing.

You can order a free copy of "How to Buy Your Home" by calling the Ontario Real Estate Association - OREA at 1-800-563-HOME.

 

We also invite you to attend one of our FREE 90-Minute Home Buyer Workshops.

In this workshop we will take the mystery out of buying a home and offer you a step-by-step guide on how to find and purchase the right home for you and your family. A home that also fits your financial goals. The workshop will help you understand the many terms used in real estate transactions. You will learn how to work with Realtors, lawyers, and other professionals. You will also learn how to shop for a mortgage and talk intelligently with your banker. You'll learn how to choose a home inspector to check out your home thoroughly. We will walk you step-by-step through the process in making the home yours.

For more information and to register for the next available Home Buyer Workshop, simply click on the Home Buyer Workshops icon below:

 

 

Before embarking on your journey to buying a home, we invite you to take the time to review the resources available here. We hope this will assist in making the process more efficient and take some of the stress out of the buying process. If you need futher assistance, contact Allan Todd.

 

GOVERNMENT PROGRAMS TO ASSIST HOME BUYERS

CMHC Purchase Plus Improvements Program

Canada Mortgage and Housing Corporation (CMHC) insured mortgage loans are available to cover the purchase of a home as well as an amount to pay for immediate major renovations or other improvements that the purchaser may wish to make to the property. More

RRSP Home Buyers' Plan

The Home Buyers' Plan (HBP) is a program under which you can, generally, withdraw up to $20,000 from your registered retirement savings plan (RRSP) to buy or build a qualifying home. More

Five (5%) Per Cent Down Payment Program

With as little as five per cent down payment, from personal and other sources, all home buyers have access to mortgage insurance enabling them to enter the housing market, as long as they can manage the costs of home ownership. More

GST New Housing Rebate Program

You may be eligible to claim a rebate for a part of the GST you pay on the purchase price or cost of building your home it: More

Land Transfer Tax (LTT) Rebate Program

First-time home buyers who purchase a newly constructed home will receive a rebate of the Land Transfer Tax (LTT). All other buyers will continue to pay the full applicable tax. The maximum LTT rebate is $2,000. More

Residential Rehabilitation Assistance Program

The Residential Rehabilitation Assistance Program (RRAP) is a federal government program that provides financial assistance to renovate or repair housing that needs to be brought up to basic health and safety standards, or to convert non-residential properties to affordable housing. More

Second Suites Legal in Toronto

In an effort to increase the supply of affordable housing, Toronto City Council passed a by-law last year that legalized second suites, as known as accessory apartments. More

 

Ontario Real Estate Association (OREA) Articles

Glossary:

The following glossary, an excerpt from the Ontario Real Estate Association’s “How to Buy Your Home” book, provides definitions of some of the most common real estate terms you are likely to come across. Glossary

Your Privacy and the Real Estate Transaction

In the usual course of real estate transactions, Realtors may require from buyers and sellers, personal and property information. Some of this information may be considered private. More

Selecting and Working with a Realtor

Buying or selling a home in today's market requies a lot of work and a lot of knowledge about sales and real estate. It's one of the largest purchases or biggest business transactions many of us will ever make. it doesn't pay to depend on blind luck. Whether you are a buyer or a seller, there are distinct advantages to using a Realtor. More

Governament Incentives for Home Buyers

The Government of Canada’s Home Buyers' Plan allows qualified buyers to withdraw a maximum of $20,000 from their RRSPs to purchase or build a house. If your spouse is also eligible, you can each withdraw up to $20,000 towards the down payment, for a total of $40,000. More

Choosing the Neighbourhood that's Right for You

When buying a home, the neighbourhood you select will not only play a pivotal role in your family's life, but in the resale value of the property. More

First Time Buyers: Finding the Home that's Right for You

Interest rates are among the lowest in decades and the availabilitiy of of housing of all varieties is at the highest level in years. In fact, in many situations, renting a family dwelling can actually be more expensive than buying. More

Home Inspections Before You Buy

Before approving financing, some lenders require you to hire a qualified home inspector to go over the inside and outside of the house you want to buy. They do this to ensure there are no major structural flaws that will threaten the security of their investment. It's a precaution prospective buyers should take whether their lending institution insists on an inspection or not. More

Closing

Closing is the point at which ownership and usually possession of the property is transferred from the seller to the buyer. It takes place after the parties involved agree that all legal and financial obligations have been met. Your lawyer abn your Realtor will do much of the work, but here's a check list that will show you what to expect as the process unfolds. More

 

BOOKS

Condominium Buyers' Guide - CMHC

How To BuyYour Home - A step-by-step guide for home buyers - OREA

Home-Buying Strategies for Resale Homes - Alan Silverstein

The Perfect Mortgage - Alan Silverstein

The Borrower's Answer Book - Gail Vaz-Oxlade

Hidden Profits In Your Mortgage - Alan Silverstein

The Complete Idiot's Guide to Buying and Selling a Home for Canadians - Shelley O'Hara and Bruce McDougall

Inspecting a House: A Guide for Buyers, Owners and Renovators - Alan Carson and Robert Dunlop

 

MOVING

Saying good-bye to one neighbourhood and discovering a new one is an exciting adventure. But let's face it, at the end of your home-buying process you may find yourself exhausted. After all, the other obligations in your life have not paused.

What's more, now there's another cost -- moving. Whether you hire professionals or strong-arm friends into helping, be prepared for the cost of the move. Here are some suggestions on how to reduce the cost of your move, but let's first look at how to prepare for the big day.

Here are some tips you may find timely and helpful;

What to Expect on Moving Day

Ways to Reduce the Cost of a Move

Moving Check List

Change of Address

Moving Calendar

 

Allan Todd REALTOR®
Remax Professionals Inc., Brokerage

416-640-0734

905-270-8840

THE MOVING TO NETWORK | BRAMPTON | ETOBICOKE | GTA | MISSISSAUGA | OAKVILLE | TORONTO