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Difference between revisions of "Renting a Home"
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Buying a home is exciting. But it’s also stressful, as there’s a lot at stake. | Buying a home is exciting. But it’s also stressful, as there’s a lot at stake. | ||
Before you start looking, consider what you can afford. There are a lot of expenses involved. In addition to the obvious (the purchase price), there are closing costs (including legal fees), and ongoing costs such as loan payments, property taxes, and maintenance. | Before you start looking, consider what you can afford. There are a lot of expenses involved. In addition to the obvious (the purchase price), there are closing <span class="noglossary">costs</span> (including legal fees), and ongoing <span class="noglossary">costs</span> such as loan payments, <span class="noglossary">property</span> taxes, and <span class="noglossary">maintenance</span>. | ||
===Borrowing money to buy a home=== | ===Borrowing money to buy a home=== | ||
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Most homes in Canada are sold through real estate agents, also called realtors. A real estate agent can assist you with the purchase process, including helping you understand the housing market, learning about the community you want to live in, and negotiating the purchase price. The cost of your real estate agent is usually covered by the seller of the home. | Most homes in Canada are sold through real estate agents, also called realtors. A real estate agent can assist you with the purchase process, including helping you understand the housing market, learning about the community you want to live in, and negotiating the purchase price. The cost of your real estate agent is usually covered by the seller of the home. | ||
When you find a property you want to purchase, your real estate agent will write an offer, called a '''contract of purchase and sale'''. The agent will present your offer to the seller. | When you find a <span class="noglossary">property</span> you want to purchase, your real estate agent will write an offer, called a '''contract of purchase and sale'''. The agent will present your offer to the seller. | ||
It’s a good idea to have the home inspected before you complete the sale. This may help you avoid big or small surprises such as structural problems or mould in the walls. A real estate agent can help you find a home inspector. As the buyer, you pay for the cost of the inspection. | It’s a good idea to have the home inspected before you complete the sale. This may help you avoid big or small surprises such as structural problems or mould in the walls. A real estate agent can help you find a home inspector. As the buyer, you pay for the cost of the inspection. | ||