Buying a Home

STEP 1: LOCATION, TYPES, NEW HOME or RESALE

Living in an urban setting offers convenience and amenities, while suburban living often provides more space and affordability.

Choosing a Neighborhood

Consider future development, zoning, and property value trends. Contact your municipal office for details.

Questions to Ask

• Are new developments planned nearby?
• Any zoning changes?
• New highways or subdivisions?
• Restrictions on home‑based businesses?

Types of Homes

• Single Detached
• Semi‑Detached
• Duplex
• Townhouse
• Link / Carriage
• High‑Rise Condominium

New Homes

Advantages

• Modern standards
• Builder warranties
• Lower maintenance

Disadvantages

• Incomplete amenities
• Construction noise
• Young landscaping

Re‑Sale Homes

Advantages

• Established neighborhoods
• Mature landscaping
• Upgrades may exist

Disadvantages

• Higher maintenance
• Possible renovations
• Professional inspection recommended

STEP 2: Costs to Be Aware Of

Appraisal fees, taxes, surveys, insurance, land transfer tax, legal fees, inspections, moving costs, and more.

STEP 3: Mortgage Basics

Reduce interest by increasing down payment, shortening amortization, or making extra payments.

Pre‑Approved Mortgage

Provides certainty and locks in your rate for 60–90 days.

STEP 4: The Offer

Includes legal names, price, chattels, financing, possession date, survey, expiry, and conditions.

STEP 5: Closing Day

Your lawyer receives funds, pays the seller, registers the home, and gives you the keys.