At the beginning of a year most people create resolutions and set goals for themselves. Is buying a home one of your goals for 2018? If so, here are some helpful tips to get you on the right track.
This is normally the most daunting of the tasks when buying a home. How will you save the money? Will you use your RRSP's? Savings? Ask your Parents?
Check Credit Rating
It's important to check your credit score, since any lender will do the same and you don't want to be blindsided. Anything higher than 690 is considered "good."
Credit Clean Up
Make sure to pay your bills on time and if you aren't happy with your credit score take some time to clean it up before you start the pre-qualifications process. Bring up your score up by keeping balances on credit cards low, pay off debt and don’t close unused credit cards.
Meet with your mortgage broker, get pre-approved and lock in a rate. Once you meet with a mortgage broker you will have a better understanding of what you can afford and where you should be looking. Let me know if you currently don't have a mortgage broker, I can fit you with one of mine.
Not sure where you would like to live? It's worth going and checking out neighbourhoods in person and start figuring out what’s important to you. Are you okay with having to drive if you need something or would you prefer the convenience of everything being in walking distance? Is transit important or having easy access to a highway?
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Buying a home is one of the biggest investments you will ever make and I am here to help. Please feel free to give me a call if you have any questions. 778.988.7487