Buying Your First Home - 2

Buying Your First Home - 2

With today's low interest rates, many people are finding the prospect of buying their first home attractively affordable. If you are considering homeownership in the near future, you'll want to have a REALTOR® on your side to guide you.

Buying a home, especially for the first time, can be a daunting experience. Yes, it is likely one of the most exciting events in your life, but it can also be the most confusing. A REALTOR® is a highly-trained and experienced individual who will skillfully direct you through the home-buying process. A REALTOR® is a licensed real estate professional who is a member of a local real estate board, as well as the Canadian Real Estate Association and the Ontario Real Estate Association. When you work with a REALTOR®, you can expect the highest level of service, honesty and integrity.

Your first home buying experience will be full of questions such as, Where should we buy? How much home can we afford? Should we buy new or resale? Your REALTOR® will begin by helping you determine your needs and wants. He or she will also help you figure out what price range you should be looking at for your first home.

One of the most valuable services a REALTOR® has to offer you is knowledge. Your REALTOR® can answer questions about the neighborhood or market you are interested in and help you to compare homes from different neighborhoods.

Your REALTOR® has direct access to the Multiple Listing Service (MLS) which provides details on a wide variety of properties in the markets you are exploring. He or she will constantly review the MLS and stay on top of new listings as they occur.

Your REALTOR® will save you time and legwork by previewing properties to ensure you are only looking at homes that fit your budget and match your needs and wants. He or she can also give you information on the various financing alternatives available and provide you with current interest rates and mortgage options.

Once you've found the home of your dreams, your REALTOR® will work on your behalf to negotiate the best purchase price possible and act as a mediator between you and the seller to head off any conflicts. Finally, your REALTOR® will ensure that your best interests are taken care of in the purchase and sale agreement and assist with all the details needed to complete the transaction.

If you're thinking of buying your first home, go for it! Becoming a homeowner is very satisfying. And, with the help of a REALTOR®, buying your first home will be a smooth, hassle-free and rewarding experience.

This article is provided by the Vancouver Island Real Estate Board - "An Association of REALTORS™"?and the Ontario Real Estate Association (OREA)?for the benefit of consumers in the real estate market.

November 2002?rev February 2003