Buying a House in Niagara

Is homeownership right for you?

The differences between renting and buying a home are vast. There’s a long list of pros and cons for both options. Remember, there is no one best decision for everyone. Before moving forward, here are some questions to consider:

  • Do you have the necessary financial management skills? 
  • How financially stable are you?
  • Are you ready to take on the responsibility of all the costs involved in homeownership, including mortgage payments, repairs, and maintenance?

Are you financially ready?

Before you begin shopping for a home, it’s important to know how much you can afford to spend. In addition to the purchase price, you need to consider the following: house inspection fees, legal fees, title insurance, land transfer tax, mortgage insurance, moving costs and setting up utilities.

Meet with a lender or mortgage broker who will help you determine how much you qualify for and what kind of payments you will be comfortable with.​

Which home is right for you?

Try to buy a home that meets most of your needs for the next 5-10 years, or find a home that can grow and change with your needs.

  • What size? How many bedrooms? Bathrooms? Do you need space for a home office? How many cars do you have?
  • Any special features? Swimming pool? Fireplace? In-law suite? Separate entrance?
  • Determine your lifestyle: Are you planning a family? Will you kids be moving away for University or College? 
  • How important is the location to you? Are you willing to sacrifice size or some features to locate in a better neighbourhood?
  • New or resale? With new, you get a warranty and no repairs but have to spend money on landscape, fence, etc.
  • Detached, semi-detached, townhouse or condo?

Starting your search

  • Check the newspapers and real estate ads
  • Research “homes for sale” on the internet
  • Drive or walk by “for sale” signs and take note of which houses you may want to see
  • Visit new development sites to see if a new home is something you might consider
  • Find a real estate agent you work well with. Buying a home can be enjoyable if you are prepared and informed

Reach out for a free consultation