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The Buying Process


Existing Homeowner:

Whether to Sell first or Buy first depends on current market conditions and the marketability of your specific home. You must have a property evaluation to realistically determine it’s value as well as research the availability of the type of property you wish to acquire. Request Evaluation Form


First Time Buyer:


1. Financing: Get pre-approved for a mortgage. That way you will be shown properties that are within your budget and you won’t have any surprises regarding your financing. Mortgage Calculator

2. Representation:

Choose a great agent: who is patient, knowledgeable, who listens to your needs and who you can trust. Arrange a meeting to see if you click with the professional you may be spending a lot of time with. Let's do Coffee!


Choose an agency relationship:


Buyer Agency-agent works in your best interest to get you the best terms possible with no allegiance to the Seller. Buyer and Buyer Agent enter into a Buyer Representation Agreement with exlusive representation for a finite time, type of property, and location. The Buyer’s Agent is commonly paid commission through the MLS system from the Seller.


Seller’s Agent-works in the Seller’s best interest.


Dual Agency or Multiple Representation-this occurs when both parties (Buyer and Seller) are represented by the same agency. In this situation, no information regarding price or motivation can be shared between the salesperson(s) and the parties so there are no unfair advantages to either.


3. The Product

Make a list of MUST HAVES (i.e. location, parking, minimum square footage, pet-friendly, etc.)

& “WOULD LIKES” (i.e. two baths, hardwood floors, outdoor space, etc.)


Type of property: House, Condominium, Co-op, Co-ownership?

House: Owning a house can be lovely, but it comes with big commitment. Cost is typically 1-3% of market value per year to maintain.

Most entry level houses in Toronto are old and need upgrading.

Like to travel? Who is going to cut the grass and shovel the snow when you are away? Insurance companies can give you a hard time when your property is empty as well.


Condo, Co-op, Co-ownership? These offer a variety of amenities without having to worry about the burdens of personally maintaining a home. However, each owner is part of a community of unit owners so there can be politics involved.    


Go to Condo, Co-op, Co-ownership


Investment Properties? With a secondary suite, your tenant(s) can help pay your mortgage. Multi-family dwellings can provide a steady source of income. However, tenants can be difficult, (non-payment of rent, noise, damage), and property management can be time-consuming and costly. Check out the legality of secondary suites and zoning as most sellers do not warrant retrofit status and heavy fines may be imposed by Ontario Hydro or the Fire Marshall’s office if the building is not up to strict codes.


More Details:  Landlord & Tenant Board

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