Buyer's Guide

Choosing to buy a home is one of the biggest decisions you’ll make in your life. It’s a complex ordeal that requires a lot of planning and requires the help of a knowledgeable REALTOR® to make the process run smoothly. To ready you for this, here is a general overview of what to expect and prepare.

Get Your Finances In Order
The first thing you’ll need to do is put money aside for a down payment. This amount is [at minimum] 5% of the purchase price of the home you’re planning to buy.

Second, you’ll need to meet with a mortgage broker to get PRE-APPROVED.  It’s free and there is NO obligation, plus it will help you know exactly how much you can afford including your interest rates and other terms.

Visualize Your Home
Once you’ve established a price range, it’s time to decide what type of home will best suit your lifestyle. Think about things like access to schools, recreational facilities, what the neighbourhood is like, and so on. Why you’re choosing to buy should help answer these questions for you — so think about it carefully. You may want to put this down in writing and create a needs v/s wants list.

Meet With a REALTOR®
It’s important to partner with a Real Estate Agent you feel completely comfortable with and who’s approach and expectations are in alignment with yours. They will set up viewing appointments and help bring clarity to the complicated process of buying a home.

If it’s a Military Relocation, then they must be licenced for a min. 2yrs and be a registered TPS for BGRS.

Educate Yourself
Become informed about the local real estate market and the buying process.  Ask your REALTOR® about the current market, neighbourhood sales and potential resale values.

The Search
Using the PROPERTY SEARCH on this site and consulting with your Real Estate Agent, you will be able to find homes in your desired area. They’ll update you frequently regarding new listings and schedule you appointments with sellers.

Automated New Listing Alerts
This fabulous new tool in real estate allows your REALTOR® to set you up with a digital Property Portal so all new listings, that meet your criteria, are automatically emailed your way.  

Understand What You’re Signing
Before you sign any legal documents, discuss them in detail with your REALTOR® to make sure you fully understand them.

Plan Ahead
If you need a House Hunting Trip for your purchase, then organize well in advance with your REALTOR®.  If you are a CAF Member you may only have 5 days to view, offer and secure a sale, so you will need to hit-the-ground-running and have a REALTOR® who makes you their top priority.  

Property Details
Your REALTOR® should inquire about the age and condition of the home’s systems, such as plumbing, electrical, roof, heat & cooling systems.  If applicable, find out if proper permits were received for any renovations.  Consider a home inspection for further examination of the home and don’t hesitate to ask questions.  Also, ask your REALTOR® about a Seller’s Property Information Statement.

The Offer
Your REALTOR® will assist with an offer that the seller will either accept, counter, or reject.  Make it as detailed as possible and outline what will be included with the purchase [chattels]. Once an offer is accepted, the countdown to Closing begins and the focus is now on meeting the contractual deadlines outlined in the offer.

Protect yourself – if possible, make your offer CONDITIONAL; financing, home inspection, insurance, sale of a home or other specific conditions to meet your specific needs. Conditions are added for your benefit and protection. Your REALTOR® will guide you through the complexity of them. Any deficiencies from inspection[s] can be negotiated with the seller [costs & repairs].

Closing
Finalize your mortgage commitment with a visit to your mortgage specialist.

Signing off on ownership, to transfer the Title of the property, will take place at your lawyer’s office, so have this set up well before Closing.  Your REALTOR® will have emailed all legal documents their way.

At this point, congratulations are in order! Becoming a new homeowner is one of the most liberating things you’ll ever experience. There are many benefits to home ownership — pride of ownership, the ability to make home improvements, building equity, appreciation — the list goes on.