So, you have made the decision to find a new home. WHAT NOW?
When you have decided it is time to buy real estate, the next step is to enlist the aid of a professional. This is where I come in! I will sit down with you to determine exactly what it is you are looking for. We will discuss everything from location, to size, to budget, to needs, nothing is out of bounds. The more details the better! This will allow me to tailor a search that will yield results that suit you best. It will allow us to focus on what you really want, rather than waste time on things you don’t!
Every conversation I have with you is held in the strictest of confidence. I will use this information to ensure you, my client, get the best home at the best price possible. I am here to serve you, wholly and completely. I’m not satisfied until you are, and I will do everything humanly possible to ensure you are 110% satisfied with the service I provide.
Have you already found your dream property online? I would be more than happy to show it to you! As a licensed real estate agent in Prince Edward Island, I have the ability to show and sell any property on the Island, regardless of which company has their sign at the road.
As a client of Steve Nabuurs, you can expect timely responses to any and all inquiries, open and honest conversations, complete confidence that I will give you the best service on PEI.
Remember, I am not happy until you are!
The Right Neighbourhood
There are several decisions to make when you are thinking about buying a new home. One of the most important is “Where do we want to live?”
Location is one of the single most important factors. It will help to narrow your search and focus on the homes that will suit you and your family’s needs.
There are many factors in choosing the right neighbourhood or community. Here is a list of six questions that will help you narrow it down to the area that is best for you!
- How far is it to schools, work, entertainment, extracurricular, grocery? Is it walking distance or car dependant?
- Is it close enough that I can reduce the use of my car, thereby saving money on gas and maintenance?
- What will my mortgage, heat, and taxes be per month, in this area?
- Is the size of the home suitable? Are there enough bed and bathrooms?
- Is the land size suitable?
The Mortgage
Would you like to have an idea of what you can afford before going to speak with a lender? The general rule of thumb is that monthly housing costs should not exceed 32% of the gross monthly family income.
To determine, more closely, what you can afford per month, you will need the following information:
- Annual income
- Monthly debt payments
- Annual property tax
- Condo fee / Land rental
- Monthly heating costs
Follow this link and you can use the above listed information to determine an approximate monthly mortgage payment. http://www.howrealtorshelp.ca/mortgage-calculator.php
Mortgage Pre-Approval
When you are considering the purchase of a new home, the first step you should take is to get Pre-Approved for a mortgage. This will give you an idea of how much money the banks will lend you, and at what interest rate. It will allow you to budget accordingly, and it will also narrow your home search to the ones you will be able to afford.
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Approved Mortgage
After you have made an offer on a home, and it is accepted, it will be time to get the final approval from the lending company. You do this either through your mortgage broker or with your banking professional, whomever you received pre-approval from. They will ask you to submit documentation that substantiates your employment and income. The money lender will take this information and use it to make their final decision. When they say you are approved, this means that the money is yours and you can purchase the property!
Closing Costs
Something that has a tendency to get overlooked in the excitement of purchasing a new home are the closing costs. These costs are made up of various expenses such as legal fees, oil adjustments, tax adjustments, etc. And, they are all due by the closing date.
This amount will be in addition to your down payment and will be payable to your lawyer who will distribute the funds accordingly. When budgeting, it is a good idea to expect 1%-4% of the purchase price will be needed for closing costs.
