Canada is one the worlds very best countries to live in, according to research conducted by the “Best Countries” ranking conducted by the US News and World report, the University of Pennsylvania’s Wharton Business School and BAV consulting. This report is based on a number of metrics including security, quality of life and per-capita income, and apparently, after Germany, Canada is the place to be.
So if you are currently thinking of buying a home here, then you might be making a smart move. But if you’re new to Canada, or buying your first home, you might be a little confused about just where or how to look for a new home that matches your requirements. To help you make the right decisions, we have compiled this list of five steps to take when shopping for a new house.
#1. Decide on what you want
One of the first things you should do is decide on precisely what type of home you want. Some important factors to consider include the neighborhood, social amenities available nearby, and the overall quality of life in the area.
#2. Estimate the cost
Once you’ve figure out what you’re looking for exactly, it should be much easier to get some idea of how much you might expect to spend on your new home. You should know that there are a lot more costs involved in buying a house than the actual purchase costs.
Depending on the property you are buying, you may have to incur legal fees, inspection fees, registration fees and etc. At this stage, it might be a good idea to hire a financial adviser or consult with friends who have gone through the process before, so that you don’t get blindsided.
#3. Go house hunting
House hunting on your own can seem like a daunting task as you might not know where to look in the first place. But in reality, it is often not that hard to spot an interesting property while on a drive or bike ride out, so why not just hop into your car and go for a drive through a neighborhood you fancy, keeping your eyes peeled for for-sale signboards.
#4. Ask people
You might be surprised at just how much useful information you could glean simply from asking people you know, about available property in the area. People usually know someone who knows something about what you are interested in.
#5. Get professional help
You are going to need the services a lawyer, professional realtor and other sorts of agents to complete the process of buying a house in Canada. That is unless you have all the time and expertise you would need to do these things on your own. This is especially true if you, like most people, intend to take out a mortgage to finance your new home. Mortgages can be a tricky thing to deal with so you want to know exactly what you’re getting yourself into.
Buying a home in Canada could be a great investment to make but you’re going to have to be careful, to get the best value for your money. Always remember to thoroughly inspect every house you are interested in, with the help of a professional realtor, before making a commitment to buying one.