Monday, 1 July 2019
A huge part of the Canadian dream is to buy a house. Most of us dream about it from a fairly young age. I know I did. Here’s how it’s supposed to go: finish high school, go to college or university, get an awesome job, meet someone you’ll spend the rest of your life with, maybe get married-maybe not, buy a house.
We’ve also told ourselves exactly how we’ll buy the house. Here’s how that’s supposed to go: save money for a down payment, go to the bank to get a mortgage, look online at houses, call to see the houses, pick one, buy it, live happily ever after.
That’s exactly how I thought it would happen for me. Real life was completely different. I never thought I’d be able to buy one to be honest. In 2001, at 24 years old though, I did…and I was scared to death. My Dad decided to offer to sell my boyfriend and I his house. We were renting a little two bedroom home at the time and looking to buy, so it was perfect timing. What better home to buy for my first home than my parents’ place!? We were happy to make the purchase. It was supposed to be easy. We made an appointment at the bank to get a mortgage. The bank representative said she needed to talk to my Dad. I was very confused as to why. She said she needed to ask us questions. After a few meetings with us and my Dad, it turned out all they needed was to see where the down payment money was coming from. (This is a must). We had nothing to hide but I wish she would have just told me. She kind of beat around the bush at times, making me uncomfortable with her. I had no idea how to buy a home and relied on her guidance, which was nearly non-existent. A lot of time was wasted for nothing. We ended dealing directly with the bank manager at my insistence, and paying a much higher interest rate due to missing out on the bank’s special interest rate promotion.
Fast forward to 2019: Procedures have changed. Mortgage rules have changed. I clearly now know how to buy a home, lol. However, the two most important things surrounding buying a home have stayed the same:
1. You need a trusted advisor to guide you through the process. Buying a house is a heck of a lot more than just looking at homes online and picking one to buy.
2. It’s a fun process and the best investment you’ll ever make.
My own experience taught me to always give my buyers trusted advice and guidance. Buying a house is a big deal, and my buyers tell me I’ve sure lessened the stress for them. Let’s start the conversation today to see if you qualify to buy a home. Contact me now. Coffee’s on me.