This checklist gives you a summary of each step in the homebuying process. Check off each step as you complete them.
STEP 1 – Decide what kind of home you want
Choose the neighbourhood(s) where you want to live
Consider which features are important to you (size, number of bedrooms/bathrooms, type of house, etc.)
STEP 2 – Calculate how much you can afford
Calculate how much money you have saved for a down payment
Calculate how much your closing costs will be (ask your realtor or lender for advice)
Calculate how large a mortgage payment you can afford each month
Calculate the other monthly costs you’ll be responsible for as a home owner (maintenance and repairs, property insurance, taxes, etc.)
STEP 3 – Get the help and advice you need
Find a realtor to help you find a home
Get pre-approved for a mortgage so you know how much home you can afford
Hire a lawyer to look after your legal interests and review any contracts
Get an appraisal and home inspection for any property you are thinking about buying
Make arrangements to get property insurance after you purchase your home