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Home buying is an important personal decision
and a big financial investment. You want to
find the home that's right for you and the
builder who provides the best value and service.
Here are some tips to help make the buying
process enjoyable and successful.
Do Your Research
Know what you want, what's available and
how the buying process works before you start
thinking seriously about signing a contract.
Browse through newspapers and magazines. Consult
with family, friends and co-workers. Attend
a seminar for first-time home buyers. Check
the Internet. Visit model homes and talk with
builders and their sales agents.
Pre-arrange your mortgage
If you are like most of us, you will borrow
funds to finance your home purchase. Talk
to your lender about mortgages early in the
process. Knowing in advance how much you can
spend comfortably and getting pre-approval
for a mortgage means you can proceed from
"just looking" to a signed contract
with confidence.
Check the builder's qualifications
There are many reputable builders who provide
exceptional service and build great homes
- both lowrise and highrise. As you talk with
builders or their salespeople, ask questions:
How long has the company been in business?
Is it a member of the local home builders
association? Will the builder give you references
of previous new home projects? What after-sales
service is offered? Does the builder offer
an independent third-party warranty and, if
so, what does it cover? "Personal fit"
is also important: Does the builder or salesperson
listen to you, understand your needs, and
offer useful advice?
Check the home carefully
Whether a builder has a model home, a sales
office or sells directly from plans, you'll
have an opportunity to look closely at the
quality of the home and what's included. The
builder's specifications list will detail
the construction materials and finishing products.
Ask to see a description and samples of the
standard features included in the base price
of the house, along with the description and
cost of options the builder offers. When viewing
a model home, don't hesitate to try out windows,
open drawers, look into every nook and cranny,
and inspect the home's mechanical system.
Understand the total cost of buying
Get detailed prices and estimates on everything
involved in buying a home. Your builder and
lender can advise you on the costs of securing
a mortgage, taxes and so on. Ask your lawyer
to give you a detailed breakdown of closing
costs. Call movers for estimates. Determine
if you need to buy new appliance, window coverings
or furnishings.
Consult with a lawyer
Before you hire a lawyer, it's a good idea
to ask for a detailed estimate of fees for
service.
Be realistic
Quality, solidity, good products, service
- these are the things that add up to real
value for the long term. Your objective is
to find the home that provides the best overall
value within your budget. A professional builder
will work with you to find the right balance
of features that will work well for you.
For more information on new homes or renovations
visit the Canadian Home Builders Association
website at http://chba.ca/
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