House Hunting Tips for New Home Buyers

Owning a house at one point in life is one thing many of us look forward to. This is because of the full range of benefits you get to enjoy when you own one. Living in a house you own saves you the stress of paying monthly rent. Paying rent on a regular basis can be very expensive. Having your home will save you the hassle, and you can keep that money for other projects.

You also have the option of customizing your home to give it that look you’ve always desired. Doing so is hard if you live in a rental. A house is one of the best assets you can have. Buying or building are some of the best house ownership options. Buying turns out to be the best for many who prefer getting ready houses that meet their requirements. There are so many housing units you can opt for with the most common ones being mansionettes, apartments, bungalows, and condominiums.

Liberty Market has some of the best condos which youhome can get at affordable rates. This type of housing unit is the best for those who prefer living in a communal setup. Getting the right home can be a challenging task for many who might spend months combing around the property market. Here are some house hunting tips for new home buyers.


You need to carry out some proper research on the property market in your area before going out to look for or buy a home. Take your time and visit the different online sites that offer a complete analysis of the property market in your area. You can also watch different shows and take notes. Doing some research will help you settle for the best.


You should determine your budget before you go out house hunting. Set your budget right. You can start saving early to get a good house which falls within your budget. Also, compare prices between the different property vendors. One important thing you need to do is stick within your budget do not pay more than you planned for.

Important Considerations

There are several things you should put into consideration.home purchase The surrounding environment or the location of the place you want to buy a house is one of them. Make sure there are social facilities and other essential amenities like schools and hospitals. The security of a particular place should also be factored.

The Process of Buying a Condo Unit in Canada

The real estate in Canada is booming more than ever. Foreign investors have not been left behind in the real estate’s craze. A significant number of investors are buying condominium units. A condo is a form of real estate which is divided into a number of units that are owned separately but have shared common areas. Compared to apartments which are normally leased, condo units are purchased outrightly.

Renowned realtors in Canada have always asked potential buyers of condo units to be sure if they want to stay in a condo. This is because a person might not be comfortable with the rules that are set and more importantly being too close to others. Regardless of one’s residency, decisions on buying condo units should never be rushed. A lot of homework needs to be.

Choosing Between Pre-construction and Pre-owned Options

housingWhen a pre-owned is purchased, the buyer can see the exact unit. The buyer can know what he is getting into. In case of modifications, they can be planned.

A pre-construction, on the other hand, is a sketch of the unit. Work on the actual condo has either started, or the sales agents are out there convincing potential buyers. The completed units may at times turn out to be different from sketches provided.

Do a Background Check on the Builder

Take time and dig information on the builder. Get details such as work that they have handled in the past, their response to complaints, their financial strength and the number of resales going on. A high resale rate means that either substandard work was done or there is a problem with the condo boards.

Get the Right Professionals

The following professionals are very important in the buying process: a realtor who has experience in dealing with condo units, financial broker to evaluate and arrange the mortgage you qualify for and a lawyer to analyze the offer given and other details. The lawyer will also help a buyer understand their legal obligations.

Understand the Closing Costs and Condo Fees

condosClosing costs include the tax on the land transfer, legal fees, fees required for bank appraisal and insurance premiums for mortgages. On average, closing costs can add up to 5%.

The shared facilities like parking, elevators are not included in the purchase price but are paid for monthly. The monthly fees are aggregated and divided by the total area covered by all the condo units. Allocation is then done according to the size of one’s condo unit. A status certificate is always prepared yearly to show how the common expenditure have been collected and spent well.

Understand the Role of the Condo Board

Condo board is composed of the condo owners, and it determines the condo fees to be charged. All contracts for maintenance and other repairs are entered into by the condo board. The second function of the condo board is to resolve disputes between the condo units’ owners.

In conclusion, having understood the process of buying a condo unit in Canada, always expect delays before you can move into your unit and think resale when the right price is offered.

Reasons for Investing in Real Estate in Toronto

Investing in real estate is becoming popular in Toronto. This is the reason why we set out to find out why many people are investing in real estate in Toronto. By investing in real estate, you will enjoy many benefits.

If you are looking for a sure way of building wealth, then consider investing in real estate. This article, therefore, addresses some of the findings that we were able to find about investing in real estate.

Better returns

better returns One advantage of investing in real estate is that it provides better returns than investing in real estate without much volatility. When you invest in real estate, your risk of loss is minimized by the number of years that you will invest in the property.

When the market improves, the value of your property will also improve. This means that with time you will build equity. By investing here, you have more control over your investment since you can use it as an asset to get loans. You will be able to do this as your property appreciates in value.

High tangible asset

It is important to note that there always will be value in your home or land. Some investments can leave you at zero or even with negatives, but this is not the case with the real estate.

It is not like a car which depreciates the moment you purchase it. You can decide to ensure our home to protect yourself from any eventuality in future. When you choose to go this route, you will get the best policy which will help you in safeguarding your assets.

Value increases

value increases It is also advisable to invest in real estate in Toronto because of the value increases. If you are an investor who wants to make money, you can consider the real estate in Toronto. You can buy land or a house and resell it in three years or so.

You will enjoy a great profit margin because the value of the property increases with time. This is one industry that has a positive appreciation and therefore the best field to invest. Watch the video below for the more information on Toronto real estate market:

Why People Invest in Real Estate in Toronto

The primary goal for most investors is to maximize profits and minimize loses. They usually look for business ventures that are less risky and those that are assured of getting maximum returns.

The real estate industry is one such field that investors invest to get maximum profits. So why do people invest in real estate industry in Toronto? This article looks at the various reasons as to why people invest in real estate in Toronto.

More leverage

more leverage Having land or a house could give you leverage which you could then use to access money and use them for other business venture. If you want a loan from the bank to expand your business or get into another investment, you could use your real estate property as leverage to get a loan.


Another reason as to why people invest in real estate is because it appreciates in value. It is, however, not recommended that you invest in real estate property based on speculation.

Investing based on speculation is not recommended because various factors like cash flow determine the appreciation or the rise in value. However, you can buy real estate property and resale it later since it is likely to appreciate significantly on a long-term basis.

Regular income

If you decide to buy an apartment and rent it out, then you will be assured of a regular income. This is particularly useful for the retired guys who do not have much strength to work.

Investing in real estate could be a perfect retirement plan since you will get income even in your retirement. You will need to get tenants and maintain them. With an occupancy of more than 75 percent, you can live a reasonably comfortable life.

Tax waivers

tax waivers If you are an investor and you are looking for the perfect area to invest, then consider the real estate industry. Here you will experience tax waivers during the financial years that you will be required to file your returns.

If you have idle money somewhere, consider buying property since this could help you reduce your reductions as you will be liable to waivers. Watch the video below for more information on why people invest in the real estate in Toronto: