Home buying in Barrie is probably one of the biggest investments you and your family will make. We have put together some tips for First Time Home Buyers to help in that decision.
Should I Buy a Home
Before you start viewing homes and contacting a Realtor, you should ask yourself these questions:
- Am I financially stable? Secure job and money in the bank?
- Am I willing to take on these large financial responsibility and reoccurring costs associated with owning a home?
- Am I willing to devote time to home maintenance?
- Are there any incentive programs that can help me buy a home?
Finding an Agent
Your real estate agent — a licensed professional who’s familiar with local home values and neighborhood perks, understands real estate trends, can write an offer on your behalf, and who negotiates 
with home sellers so you don’t have to. As a fully trained professional you agent will be able to assess your needs and budget and filter the information to ensure your search results in properties you both like and can afford. Most experts agree the sooner you contact and agent in the Home Buying process the better.
Find the Right Home
Get Pre-Approved by your bank for a mortgage. This is the most important step in buying a home. New mortgage rules make buying a home tougher than it used to be. Your local bank can assess your financial situation and determine the limit you can pay for a home and also the amount of down payment you will require. Many agents are now recommending you use a Mortgage Broker as they can sometimes have better rates and are not as constrained by government regulations.
Consider Your Priorities
- Location and neighborhood ( schools for children )
- Size of home and lot
- Type of Home ( semi-detached, duplex, condo etc )
- Travel distance to work
- Special needs such as accessibility or efficiency upgrades
- New home or resale
Make an Offer and Close the Deal
When you’ve found the home you want to buy, it’s time to make an offer to the seller.
Your offer must include:
- your legal name, the name of the seller and the address of the property
- the amount you’re offering to pay (the purchase price) and the amount of your deposit
- any extra items you want included in the purchase (for example, window coverings)
- the date you want to take possession (“closing day”)
- a request for a current land survey
- the date the offer expires
- any other conditions that must be met before the contract is finalized (for example, a satisfactory home inspection)
You should expect to negotiate. While the process can be stressful, it’s all about making the best deal for you and the seller.
Your Home Inspection
Never buy a home without a home inspection. Do not rely on that “trades person friend” to inspect your home for you. Invest approximately $400.00 and hire a professional home inspector. There are many areas of a home that can have “hidden problems” not always visible to the untrained eye. Even “brand new homes” have issues that most home buyers would be totally unaware of. 
Remember once you take possession of your new home all the deficiencies become yours. There is no guarantee or warranty to protect you or to cover unknown expenses from deficiencies found after the sale.
Napoleon Home Inspections in Barrie ON is a Certified Building Code Official with the Ontario Building Officials Association, he is also a Certified Master Inspector with over 7,500 inspections completed. Call Roger Frost today to ask any Questions about Home Inspections or what is actually covered in you home inspection.
Free Thermal Imaging is included with every Home Inspection. Infrared Cameras can find hidden moisture, missing insulation or electrical hot spots.
Every Home Inspection comes with a 100% Money Back Guarantee which is good for 30 days after you move into your new home.
Call Roger today at 705-795-8255 for information on Home Inspections