List of Things to Tell Your Realtor at the Beginning of the Home Shopping Process

Bridge Financing London, Ontario Mortgages

Bridge Financing London, Ontario Mortgages

Buying a home is a big deal! It is likely one of the biggest investments you’ll make in your life. Because of this, you’ll want to plan ahead and make sure that all of your needs are considered and expressed to your realtor, so you can find the home that is best for you.

Find a good realtor

First things first, make sure you find a realtor you ‘click’ with. Pick one that you feel best understands your needs, wants, and your overall vision for what you’re searching for in a home. If you have a realtor that you don’t have great chemistry with, you could waste a lot of valuable time.

Price range

What is your price range? Make sure your realtor knows this at the beginning of the home shopping process, so they don’t present you homes that are way out of your price range. You also want to make sure your realtor knows this, so they know the areas for homes to show you. Or if you’re looking for a home in a specific area or neighbourhood, they can make sure to show you only the homes in that area that meet your price range.

Needs and wants

Make a list of what you need to have, would like to have, and cannot have. This will make it much easier for your realtor to help you in your search of finding your ‘perfect’ home. For example, maybe a ‘cannot have’ would be to live on a busy main street since you want to live in quiet neighbourhood. Or, maybe a ‘need to have’ is living a reasonable distance from your work.


When do you expect to move into your new home? Are you renting currently? When does your lease end? Are you selling your home currently and looking for a new one? These are all things to tell your realtor at the beginning of the home shopping process. If you don’t they could advise you on a house that will be gone by the time you hope to move in. Make sure you give your realtor as much information as possible such as the date you hope to move in.

Biggest Mistakes First-Time Homebuyers Make

first time home buyer tips

first time home buyer tips

Not applying for a mortgage before looking for a home

So you see a home you love, then you apply for a mortgage, and that home you loved just doesn’t work for your budget. How disappointing! This is a common mistake first time homebuyers make. If you want to avoid this and be as organized as possible, apply for a mortgage and meet with a mortgage broker before-hand. This way, you’ll know exactly what to look for and where because you will know what you can feasibly afford.  

Not checking out multiple options for lending

This also a very common mistake. Make sure you don’t just go with the first lender that offers you a mortgage. Another lender might have a better deal for you that fits better with your financial situation and what you’re looking for. Shop around, do some comparisons, and make sure you have the best deal you can find.

Buying a home, you can’t afford

Sometimes new home owners can get too excited about the home shopping process, that they forget to think about the practicalities of buying a home that’s out of their budget. Even if you’re approved for a loan that fits with that expensive home you love, make sure it works with your budget and finances. You don’t want to get into trouble and potentially lose your home if you experience financial issues in the future. Consult with professionals to make sure you are buying a home you can afford now, and in the long run.

Not considering the neighbourhood

Okay so you think you’ve found your perfect home: it’s in your budget, it’s everything you’re looking for in a home, it’s aesthetically pleasing, etc. But, is it in a good neighbourhood? Is the home a reasonable distance from your work or things you need? Are you planning on starting a family soon, or already have a family? Then you will want to consider the neighbourhood – especially if it’s in a safe neighbourhood, in a good school district, and a reasonable distance from daily essentials. The way the house looks won’t be important to you in the future if you start having issues because of the neighbourhood you’re in.

Thinking you will find the absolute ‘perfect home’

If you’re looking for the ‘perfect home,’ you’re really going to be narrowing your options. Perfect homes simply just don’t exist. If you go into the home shopping process with an open mind, you might be surprised on what you fall in love with. Remember, little things you don’t like can always be fixed with a bit of hard work!

Benefits of Buying Vs. Renting

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Here’s a general list of the benefits of buying vs. renting that will be sure to help you in making your big decision when it comes to looking for a new home.

Buying a home is an investment

Buying a home is a great investment. Over time, your home will very likely increase in value. Your equity will also build over time when you make your monthly mortgage payments and will grow more the longer you stay in your home. Simply, renting is not an investment – you’re paying someone else for money you could be using for an investment! Why not pay a mortgage instead that will benefit you in the long run?


Have you ever had those landlords who never let you make the place you’re living in, your own? You had to keep the walls a pale white, or had to deal with an old bathroom or kitchen that barely does its job? As a homeowner, you can fix these things and make the home truly your own. You won’t have to worry about what colours you’re allowed to paint the walls or having to get permission to make changes to that old kitchen or bathroom.  

Generally over time, buying costs less than renting

Have you ever experienced a landlord increasing your rent each year? With paying a mortgage, you won’t have to deal with that if you opt for a fixed mortgage rate! This makes it easier to budget since it will stabilize your monthly finances. Also, your home will increase in value for your benefit, and each payment you make impacts your equity. With renting, there is no chance for money to be made. Also, when you’ve paid off your mortgage, guess what that means? No more mortgage payments – the house is all yours!

Family stability and being part of a community

Do you remember growing up in your family home and how special that home was to you and your family? If you’re planning on starting a family or thinking of moving to a new home to make life better for your family, buying a home will create a space that will be more important to you and your family than any investment. Without getting too cheesy, owning a family home is really something special: you can watch your kids grow up and make family memories that you’ll never forget.

Also, when you pick a great neighbourhood to live in, you’re sure to build a sense of community with your neighbours and foster a great environment for your children to grow up in.

Make sure to talk to your mortgage broker for more information on how buying is the right choice for you.