Home Buying Tips
This Home Buying “Step by Step” guide is here to make things easier for you by providing the information you need to make a wise home buying decision. The links from this page take you to CMHC’s web site where you will find examples and worksheets that will guide you through the entire home buying process, from the moment you make the decision to buy your own home to the moment the movers carry the first box through the front door. It couldn’t be easier!
- Step 1 — Is Homeownership Right for You?
Buying a home is one of the biggest financial and lifestyle decisions you will make, so it pays to make an informed decision by first looking at the main advantages and disadvantages of homeownership.
- Step 2 — Are You Financially Ready?
In this Step you will find a number of simple calculations that will help you evaluate your current financial situation and determine how much house you can afford and the maximum price that you should be considering.
- Step 3 — How will you finance your home
After you have calculated the maximum home price you can afford, you will need to calculate the up-front costs and expenses associated with buying a home to make sure you are financially prepared.
- Step 4 — Finding the right home
Before you start searching for a home you need to think about your current and future housing needs and what characteristics are important to you in a home.
- Step 5 — Make an offer & close the deal
your realtor will guide you on offer strategy & direct you to the appropriate professionals (home inspector, mortgage broker, insurance agent, mover, lawyer)
- Step 6 — Maintain your home & protect your investment
This section offers useful tips for new homeowners on home repair, maintenance and renovations, and discusses the importance of security and fire safety