(NC)—More than ever, first–time homebuyers are weighing their options before embarking on the Canadian dream of owning a home. “We want consumers to be comfortable with the financial responsibilities of owning a home, so it’s important to determine what they can afford in order to maintain a reasonable lifestyle once they’ve made the leap,” says Phil Soper, president of Royal LePage Canada. As such, Soper offers these guidelines for first–time homebuyers:

1. Determine your net worth. Take your assets (cash, investments, savings, vehicles and other items you own) and subtract your liabilities (car loans, lines of credit, overdrafts and credit cards). A positive number is a good sign that you may be ready to purchase your first home.

2. Obtain mortgage pre–approval. There are many different mortgage options available on the market today. Thoroughly investigate the terms and rates available, and once you have settled on a rate, term and amortization period, apply for mortgage pre–approval with your lender. Mortgage pre–approval presents you as a serious purchaser, to both real estate agents and sellers.

3. Hire a real estate agent. Top agents have extensive experience and demonstrate dedication and commitment to helping their clients. Ask your family and friends for a referral, or explore real estate sites such as www.royallepage.ca to read profiles on agents, including their areas of expertise and languages spoken. A real estate agent will have knowledge of accurate, real–time market data to leverage your negotiating position, as well as access to properties often even before they are listed on MLS.

4. Be realistic. Choose a home that is within your means. Keep in mind that you will need to set aside extra funds for ongoing home maintenance and potential increases in utilities, taxes and mortgage rates.

5. Rent out a portion of your home. Consider buying a home with the potential to provide added income. Renting a basement apartment or a spare room can put extra money in your pocket, helping you to pay down your mortgage faster.

Source: www.newscanada.com

More helpful home buying tips and advice available on the Mississauga Properties website.

Selling your home first before buying another is the generally accepted route in the home buying process. However, that appears to be changing. With 16 years of consistently rising home prices in the the Toronto market, it’s not hard to see why some buyers can get complacent.

Before making your decision you really have to do your research. If the market is good and homes are selling well on your street, then there is a good chance you can sell your home quickly, If the market is slow it might not be a great idea.

The average days that the house sits on the market are up by 15 per cent to 23 days from 20.
For those people contemplating whether to buy first, make sure that you can financially withstand holding two mortgages in case the market turns. The bank can conceivably rescind a mortgage approval if the first property is not sold before closing of the second property.

Whatever you do, try not to impulse buy. So if you don’t think you can afford it, stay way from those open house signs until the cash is in the bank or you have sold your home firm!

One problem many people have when they set out to find homes for sale in Mississauga is that they aren’t sure of what their needs are. Or, they think they have an idea, but really haven’t thought it through. This is the most important purchase of your life, so it’s absolutely key to do you due diligence to find a home that perfectly suits you.

That doesn’t mean you have to go it alone, however. You definitely need a professional and highly experienced REALTOR on your side. You see, it’s not at all uncommon for home buyers to not be sure of what type of homes they should be looking for. It can seem so confusing with all of the options out there. That’s not even to mention budget and size constraints!

When you work with a professional real estate agent like Lea Jensen, she’ll be able to point you in the right direction and give you clarity about what it is you want.

It’s a true shame, but there are some people who buy their homes without really thinking about their options or the future. For example, do you plan on expanding your family? You’ll want to factor that in when you consider what size home you will need. Do you need room for the kids to run around safety outside? You’ll want to consider getting a home that has a yard and is in a safe location.

You might think that you’ll just know the right home when you see it, but it’s really important to narrow things down first. That way, you’ll avoid wasting your time by looking at homes that aren’t really going to do it for you. You’ll be much happier throughout the process by narrowing things down.

That doesn’t meant that you won’t get that special feeling when you do find the right home! Even if the other homes you visit have everything you want, there is just something special that happens the first time you set foot in what will become your home.

Finding homes for sale in Mississauga is such a big step. Take the time to evaluate what type of home you want to end up in. Lea Jensen can certainly point you in the right direction so you end up in a home that is  perfect for you and your family.

Many people go back and forth on whether or not they should try to buy a home. There are definitely certain economic climates that are better for sellers, and are there others that are better for buyers. As you may have noticed, home prices have come down dramatically in many areas recently. This is due to the current economic climate, and the fact that more homes are on the market than there are buyers. This can mean great things for you! Now is a great time to buy a Mississauga home.

You can likely qualify for more home than you would have just a few short years ago. Many sellers have had to lower their prices in order to entice buyers. That means you can get more home for your money!

Of course, you definitely need a good real estate agent by your side so that you can find these homes, and there are some good bargains out there in you know where to look. Consider contacting Lea Jensen today for a no pressure question-and-answer session to help you wrap your mind around the possibility of buying a home.

Hiring a Mississauga real estate agent when you plan on buying a home is essential! You might think that you can go about this process alone, but that is definitely not suggested. That’s because there are so many steps to this process, and you’ll soon find that your agent is invaluable along the way.

First of all, a good real estate agent has access to homes that are not found on the web. If you are determined to find the perfect home that will fit your list of features, you definitely need to work with a pro. Your agent will be able to sift through the homes for you and pick out the ones that are likely best for you.

This part is definitely key. You probably don’t have a lot of extra time, which is why you need a professional by your side. There is no sense in looking at hundreds of homes that are not ideal for you when you can easily have someone pick through and find ones that are.

Another thing your Mississauga real estate agent will do is take care of setting up meetings and contacting the seller’s real estate agent, as well as the seller, if you are interested in seeing a home or starting the process of buying one. They will truly be on your side as they negotiate price for you — they want to see you happy. Remember, the only way buyer’s agents make their money is if they have a happy buyer who goes through with the purchase on the home of their dreams. Since it is in their best interest to help you, you can rest assured that a good agent will make this process as painless as possible for you.

Never feel like you have to enter the daunting world of real estate on your own. Hiring a great real estate agent like Lea Jensen is the best thing you can do to keep your sanity and end up with the home of your dreams in Mississauga.

No matter whether you are a first time home buyer or you are on a mission to move on from a home you currently own, it’s very important to determine what your ideal Mississauga home is before you even start looking. There are an incredible number of homes on the market. Each home has its own personality and set of features. It can become very overwhelming to try and sift through all of these different homes to find one you’re interested in. By having a list of your ideal features you more easily be able to go through the process of finding the perfect home for your family.

You definitely want to consider your price range. This will give you an idea of how much home you can actually afford. It’s all well and good to dream of owning a five bedroom, four bathroom home — but if you will not qualify for a mortgage that would cover this size home, you will not want to waste your time looking for one.

Another consideration is the type of home you would like to live in. Many people prefer single-family homes because they are likely to have a yard and it’s nice to have one’s own space. Some even want their home to be fairly secluded or in a more rural area. Others like to live in a neighborhood where there are plenty of playmates for children. Still others would rather purchase an apartment or condominium, since these are generally cost effective and are essential if you want to live in the city.

Location, location, location! The most desirable location for your home is going to come down to several different factors. One is how close you’ll be to your work. Another consideration is where your children will be going to school. Note that the location you would most like to live in will also generally determine the price you can expect to pay for your home.

This should help you get started making a list of features you think are necessary for the home you would most like to have. Of course, you never have to worry about these steps! Hiring a great Realtor who is familiar with the Mississauga area is the best way to find a home that is right for you. Lea Jensen will work with you every step of the way to find your home, ensuring that it will fit the features you have deemed to be most desirable.

People who visit here know that it is an absolutely wonderful place to be. The people who are able to call Mississauga their home often wouldn’t want to ever live anywhere else! If it’s time for you to find your perfect home in Mississauga too, it’s important to firm up what your exact needs are in a home.

First of all, if you have children, schools are definitely something you’ll need to take into consideration. You may want to visit local schools to see what will fit your needs the best. Also, consider how close your new home will be to afterschool activities your children might take part in. Children often enjoy living in neighborhoods so they can easily interact with other children their age.

A huge consideration for many families buying a home (especially in these economic times) is how much they can expect their ideal home to cost. Housing prices are generally lower than they have been in recent years, but you’ll still need to consider what you’re qualified for, and how much home you actually want to spend. Location has a lot to do with the price of the home, and you can get some great deals when you take this into consideration.

Also, think about any special things you might need. For example, determine how much storage space you will want. The layout of the home should also be able to accommodate your daily activities. If you tend to spend a lot of time in the kitchen and there is no pantry, that would tend to be a problem for you in the long run! As you examine each home, think about your day-to-day lifestyle, what everyone in your family needs, and how much you can afford.

This can seem quite overwhelming! That’s why it is highly recommended that you work with a qualified Realtor to guide you through this process. The right Realtor for you will take the time to examine all of your needs and to find you the perfect home. They will work tirelessly to get you everything you want and need in a home. Sure, these days it’s easy to search for a home yourself on the Internet. However, you’ll be spending a lot of time needlessly searching, and you won’t have access to the listings go super fast that might be perfect for you. Leah Jensen is your Realtor of choice, so give her a call or fill out a contact form today so you can find your next home as quickly as possible.