Home Buyer's Guide

Step 1: Talk to a Mortgage Professional

The first step to buying a home is to speak with a mortgage professional. Getting pre-approved for a mortgage will give you a better idea of how much you can afford. You can get a pre-approval through a mortgage broker, bank, or credit union.

Step 2: Determine Your Needs

Based on your budget, you'll need to prioritize the property features that are most important to you and your family. For example, property type, the number of beds and baths, location, schools, and transportation, may all factor into your decision.

Step 3: Choose a REALTOR®

If you haven't already, the next step is to choose a Real Estate Agent. When selecting an agent, be sure to choose someone with knowledge of the area you're looking to buy. It's also important to check online reviews and ask for references!

Step 4: View Properties

Now you're ready to start looking at houses! Your agent can take you for private showings and answer any questions you have. When exploring properties, note the features you like & dislike; this can help you prioritize and focus your search.

Step 5: Putting in an Offer

When you've found the perfect place (or close to it), it may be time to make an offer. Your agent can guide you through the offer process and help you understand the available clauses and conditions. Your agent can also provide comparable sales to help determine the best offer price and negotiate on your behalf.

Step 6: Closing

Once you have an accpted offer, the deposit is usually due within 24 hrs. and is typically between 2-5% of the purchase price. If your offer has any conditions, you'll need to fulfill them within the specified timeframe. In addition, you'll need to choose a real estate lawyer and arrange home insurance, utilities, moving services, etc.

Helpful Links:

City of Kitchener

City of Waterloo

City of Cambridge

City of Guelph

Waterloo Region

School Information:

Student Transportation Services of Waterloo Region

Which School Do I Attend?

School Rankings

Waterloo Region District School Board

Waterloo Catholic District School Board

Calculators:

Mortage Payment Calculator

Land Transfer Tax Calculator

Guides:

Home Buyer's Road Map (CREA)

Condo Buyer's Guide (CMHC)