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Queen & Portland

In this episode, Janette visits the Tribute Communities Imagination Community, tours some gorgeous Showhomes and makes her big decision. Tune in to see great Showhome interiors, get some tips on what to look for in a new home Presentation Centre and see how easy buying a Tribute Communities house or condo can be.

Tips for Making the Right Decisions: What's perfect for you!
When it comes to buying a new home you need to make careful, informed decisions. To do this it's best to work with top salespeople and financial experts as well as a trusted builder. Together, they provide reassurance that your deal will run smoothly from start to finish.

1. What Should You Buy?
Before you start searching for a home, think about your needs both now and in the future. Here are a few things to consider:

  • Size requirements. Do you need several bedrooms, more than one bathroom, space for a home office, a two-car garage?
  • Special features. Do you want air conditioning, storage or hobby space, a fireplace, a swimming pool? Do you have family members with special needs? Do you want special features that save energy, enhance indoor air quality and reduce environmental impact?
  • Lifestyles and stages. Do you plan to have children? Do you have teenagers who will be moving away soon? Are you close to retirement? Will you need a home that can accommodate different stages of life?

2. Choosing a Location That's Right for You
Even if the home you choose has everything you need, the location might not be appropriate. When deciding where to live, you should consider:

  • Whether you want to live in a city, a town or in the countryside;
  • Where you work, how easy it will be to get there and the commuting costs;
  • Where your children will attend school and how they will get there;
  • Whether you need a safe walking area or recreational facilities such as a park nearby;
  • How close you would like to be to family and friends?

3. Get a Mortgage Pre-Approval
Once you feel you're ready to make your purchase, you should obtain a mortgage. It's a good idea to select a lender and get pre-approved. This means that the lender will look at your finances to establish the amount of mortgage you can afford before you start your home hunting. At that time, the lender will give you a written confirmation or certificate for a fixed interest rate good for a specific period of time.

Some buyers may not wish to pursue a mortgage pre-approval until they've found the home they want to buy. However, having a pre-approved mortgage amount makes the search for your new home much easier and less time-consuming because you have a good price range in mind.

4. What Professionals Should You Call On?
Because purchasing a home is probably the biggest investment you will ever make, you definitely want a team of professionals working with you on every step of the process.

The Lender or Mortgage Broker
If you haven't already gone through the mortgage pre-qualification process, find a good lender who can assist you during the purchasing process and for as long as you have your mortgage.

Remember that many different institutions lend money for mortgages, such as banks, trust companies, credit unions, pension funds, insurance companies and finance companies. It's a good idea to shop around and speak with more than one lender because terms and options will vary.

Some people find it helpful to use a mortgage broker. Mortgage brokers don't work for any specific lending institution. Their role is to find the lender with the terms and rates that will best suit the buyer.

The Lawyer
A lawyer protects your legal interests. He or she will review all the contracts before you sign them, especially the Offer (or Agreement) to Purchase. Having a lawyer involved in the process gives you peace of mind and ensures that things go as smoothly as possible. Law associations can refer you to lawyers who specialize in real estate law.

The Insurance Broker
An insurance broker is there to help you with your insurance needs, including property insurance and mortgage life insurance. Lenders insist on property insurance because your property is their security for your mortgage. Property insurance covers the replacement cost of your home, so premiums may vary depending on its value.

Presentation Centre
425 Taunton Rd. E.,
Ajax, ON., L1S 2V5
905 683 1228