Thinking of Buying
In this section, discover the steps that will prepare you to look for a home. We provide details on everything from questions to ask your Royal LePage Foothills Real Estate Associate, to getting your finances organized.
The more prepared you are as you start looking for a new home, the easier and more enjoyable the process will be. Thanks to the wide variety of services offered by Royal LePage Foothills in Calgary, Okotoks, High River, Black Diamond and Airdire, we've got you covered every step of the way.
A small investment of time and effort right at the start can pay tremendous dividends. Take the time to organize your thoughts and think seriously about what sort of home you want before you start looking. It will simplify the process, save you time and help lead you to the right home for you.
Talk to a Royal LePage Foothills Real Estate Associate before you start your search to help you get organized, answer your questions and also to raise important questions to ask yourself, such as:
• Where do I want to live? (community/general area)
• How much should I expect to spend on purchasing a home?
• Are schools a factor?
• Do I want an older home or a new one?
• What style of home do I prefer? (bungalow, split-level, 2-storey, town home, condominium, multi-family, ranch, other)
• How much renovation and remodelling am I willing to do?
• Is being close to public transportation important?
• Do I have special physical requirements, such as wheel chair access?
• Do I have pets to consider?
• What sort of lot would I like? (small yard, large yard, fenced, patio/deck, no yard, acreage)
• How many bedrooms do I need? How many would I like to have?
• How many bathrooms do I need? How many would I like to have?
• How big of a house do I want? How many rooms?
• What features are important? (air conditioning, carpeting, ceramic tile floors, hardwood floors, eat-in kitchen, separate dining room, formal living room, family room, den, library, basement, separate laundry room, fireplace, workshop, garage, other)
How can a Royal LePage Foothills Associate help?
Good real estate professionals save you time and money. They know your community and know what is important when buying and selling a home. They know all the intricacies of the process - from finding a home, to negotiating a price, to closing the deal.
A Royal LePage Foothills Real Estate Associate will:
• Screen available homes in your neighbourhood to make sure they fit your budget and your requirements
• Give you important information on local real estate values, taxes, utility costs, services and amenities
• Guide you through the viewing process showing you features you may not have noticed and problems you may not have spotted
• Advise you about your legal and financial options
• Recommend expert help when needed, such as home inspection
• Manage your offers and counter-offers, and use his or her skills and experience as a negotiator to make sure you get the best deal possible
Because you will be working very closely with your Foothills Real Estate Associate, you need to be confident you are working with someone who understands what you want, knows the real estate market and can give you the advice and guidance you need. To help you choose an Associate, here are some questions to consider:
How can you help me find the right home?
Good Real Estate Associates will impress you with their knowledge of the local market and their ability to appreciate what you are looking for in a home. They should be able to show you what is available in your price range, and how the features and benefits of specific homes and neighbourhoods fit your requirements.
Given our particular circumstances, what advice would you offer?
Every family is different and a good Real Estate Associate appreciates this. He or she should be able to advise you on how to meet your unique circumstances and lifestyle.
What happens when you are not available?
Real Estate Associates work extremely long hours and try to be available whenever and wherever you need them. However accommodating they try to be, they are not always available. Ask your prospective Real Estate Associate what arrangements he or she have in place when they are not available.
What makes your real estate service special?
Every Real Estate Associate tries hard to give top-notch service, but what distinguishes really good ones from the rest? Ask them. You may be surprised at what they have to say and, just as importantly, how they say it.
When the interviews are over it's time to make a choice. Ask yourself:
• Did they seem trustworthy and honest?
• Were they realistic when discussing your home purchase?
• Did they communicate well? Were you on "the same page"?
• Were they committed, motivated, and experienced?
We think you'll agree that Royal LePage Foothills Real Estate Associates are the Associates of choice in Calgary, Okotoks, High River, Black Diamond and Airdire – motivated, experienced, professional and dedicated to the highest level of service in the real estate industry.
When Should I Talk to a Mortgage Specialist?
There is nothing more frustrating than falling in love with a home only to find out you cannot afford it. The best way to avoid such disappointment is to figure out your finances before you start looking at homes.
Pre-qualifying for a mortgage is the best way to find out how much you can afford. Your financial advisor - whether at your bank or a mortgage broker - will look at your income, expenses, debt and credit rating to determine how much they will lend you. Combine that money with the amount you have for a down payment and you have your budget.
Once you have pre-qualified, consider applying for a pre-approved loan. Then, when you find the home you want to buy, it will speed up the purchasing process.
Remember your financial institution is just one option - you can also work with a mortgage broker who shops around for the best mortage rates and features on your behalf. Visit our Mortgage Services page to find out more.
Why Buy? Advice for First Time Home Buyers
Two out of three Canadian families own a home – that's one of the highest rates of home ownership in the world. And for good reason.
Homeownership is the single largest source of savings for Canadian households.
Unlike other investments, which can be quite volatile, the increase in the value of homes is relatively steady. The average house price in Canada has increased every year since 1998.
The return on your investment in your home can be substantial. In 2004, the average house price in Canada rose to a record $227,210 – a 9% increase in just one year and a 27% increase over four years.
Homeowners can use the equity in their homes as security for other loans. Building equity in your first home is the first step on the property ladder. It gets you into the market, keeps you in touch with increasing house prices and puts you in a good position to trade up to bigger and better houses as your circumstances allow.
