You’re buying your first home! Congratulations, this is an exciting milestone!

Buying your first home is going to be one of the most exhilarating and stressful moments of your life. Our office provides you with all the right information so you can purchase your first home with confidence! At Knight Realty, our Realtors and staff are here to help you at no cost! Call, text or email, we’ll have the answers for you. With years of knowledge, experience and expertise, we can ensure your first time buying experience is going to be fun and stress-free!

To make it easier, we’ve designed a process specifically for you!

Determine if homeownership is right for you

Before shopping for mortgages or meeting with a real estate agent, we want to make sure you are aware of the costs of homeownership. When making a decision, ask yourself these questions:

  1. Are you financially stable?
  2. Do you have financial management skills and discipline to handle this large of a purchase?
  3. Are you aware of all the costs and responsibilities that come with being a homeowner?
  4. Are you ready to devote the time and money to deal with any home maintenance issues that occur?
  5. Do you want to put roots down in this community?

So you’re financially ready to own a home

Once you’ve determined how much you’re spending on a monthly basis and calculated how much you can comfortably afford, it’s time to start searching for a mortgage broker. Your lender will discuss your financing options and confirm that you are financially stable to buy a home. It’s important to obtain a pre-approval for a mortgage before you start looking for a home as the pre-approval lets you know how much you can afford, what your interest rate will be and what your monthly mortgage payments will look like.

Don’t just shop for a mortgage lender that’s offering the best rate, there are many other variables to take into consideration when looking for a mortgage and you want to find a lender that’s going to best represent you and your situation. It’s important to ask questions like “what will my penalty be if I have to sell my house before the end of my mortgage term?’.

Finding the right home

We’ve figured out your mortgage options, let’s start thinking about the kind of home you want to buy. As our client, we’ll invite you into our office for a relaxed meeting to assess your needs and wants. We want you to think about your ideal home that not only meets your needs for today but also for 5 or even 10 years into the future. Remember, this is a huge purchase and we want to have everything covered to make you happy!

Here are some questions to consider before meeting:

  • Location – Do you need to be close to work, family schools or recreation? What is most important to you about the location of a home?
  • Size – How many bedrooms or bathrooms do you need? Do you require additional storage? How about parking?
  • Special Features – Does your ideal home have a pool? Does your ensuite have a soaker tub for you to enjoy after a long day of work?
  • Lifestyle – Do you have kids or are you planning to have kids in the near future? Do you want to live in a neighbourhood that has amenities within walking distance?

Our ultimate goal in this meeting is to learn about you and your criteria as well as inform you of the entire home buying process and answer any questions you might have.

Let’s begin your search

Now that we’ve established an understanding of what your needs are, we can begin your search! What you want in a home, we want for you too!  It is important to differentiate between needs and wants.  Location and budget can greatly impact our ability to deliver on all of our clients’ wants so, in our initial conversation we like to discuss must have’s vs wish list items.  There is no perfect house and concessions will need to be made in some aspects.  We need to know where we can give a little and where we can’t, based on what’s most important to you.

What we’ll do to find the right home:

  • Conduct a thorough analysis of your needs and wants.
  • Set up a search based on the above criteria. This will be a direct link between yourself and our local MLS system that will notify you of anything the second it hits the market.  You can favorite and discard properties here too! This is great for us as agents to see what our clients like and what they don’t. This will help us to get to know you even better!
  • Review and contact your database to see if there is anyone in our database that meets your criteria that may be considering a move or if they know of anyone thinking of selling a home that’s right for you.
  • Communicate with other agents to work on finding that perfect property. If it’s out there, we’ll find it!
  • Go out and view as many properties as necessary to get you familiar and comfortable with our local market. It may take 5 properties to view or 20, we will continue seeing as many houses as we need to in order for you to find the one.
  • Provide you an opinion of value in particular neighbourhoods, the future value of a home and key influencers or value.
  • Draft the purchase documents and review all required paperwork that’s typically required prior to the offer process.

If you love it and it’s the right one, you put an offer on it!

As your agents, we’ll go through the whole offer process together. We will discuss an offer price, conditions to include that will protect you and other relevant information required. We want to ensure you are comfortable with the entire process. It’s our job to represent you and our professionals are hard negotiators. As our clients, you can ensure we’ll get the best deal for you.

Once we have an accepted offer, another vital step in the process is to see that offer through to a firm deal. This requires that financing conditions are met and that home inspections take place (if you don’t know an inspector, lawyer or insurance broker, don’t worry! We are connected to many trusted professionals). We will ensure that you stay on task and on time so that your purchase doesn’t fall through! Once all of your conditions are met, we will also guide you through everything you will need to do prior to your move in. From start to finish, we’ve got you covered!