USEFUL INFORMATION FOR FIRST TIME HOME BUYER’S
A few weeks ago I held a first time home buyer’s seminar. A lawyer, a mortgage advisor, an inspector and I talked about some of the important things first time home buyers should have knowledge of prior to purchasing, and I just thought I would share some of that information with you.
ADVANTAGES OF BUYING
One of the first things discussed were the advantages of buying. One of the advantages of buying versus renting is that your payment remains the same. You don’t have to worry about your rent increasing on a year to year basis; you get to choose whether you want a fixed, variable, closed or an open mortgage rate. Another benefit of buying is that with each mortgage payment you are making an investment and building equity in your home.
Conversely, once rent payments are made the money just disappears and you only help build someone else’s equity. Buying also guarantees you security for retirement because once your mortgage is paid, you will be rent free. Also, owning property enables you to make any changes to it that you want. You are able to colour the walls the colour you want and make improvements and renovate. Renters on the other hand are much more restricted in this department and are often not able to make any changes to the interior of their space.
THE SIX STEPS TO OWNING A HOME
The six steps to owning a home were also discussed. The first step to homeownership is selecting the right real estate representative for you. Interviewing a few real estate agents is a good way of determining which agent would best meet your needs. Making an appointment with a lender for getting a pre-approval is the second step in the process. This is an important step because you want to know you are pre approved prior to actually looking at houses. You don’t want to find a house you absolutely love only to find out you cannot afford it, and have your heart broken. Once you have been preapproved and you know what you can actually afford, you can start looking at houses with your real estate representative. Once you found the house you love you can place an offer on it, and your agent will negotiate in your favour. The next step is closing the deal. The agent should guide you so that you satisfy any and all of the conditions. The next step after having all the paperwork done is setting the moving date, making appointments and getting ready to move into your new home!
USING A REAL ESTATE AGENT
Going to the first step discussed in the paragraph above. When choosing an agent, you can choose to work with a Buyer’s Agent or the Listing Agent. Working with a buyer’s agent would make them your representative during the process, and you their client. She/He would be fully committed to you, would be obliged to advise you, protect your interests and negotiate on your behalf to get the best deal possible. When working with a Listing Agent, the buyer alternatively enters a customer relationship. The listing agent is obligated to give you honest information, but they do not necessarily need to keep your interests in mind, since they are in a contract with the seller.
WHAT DOES THE AGENT NOGOTIATE?
The sales representative can negotiate the price of the home. The agent should provide you with information that will help you make an informed decision regarding the offer and price of the home. The agent can also negotiate the deposit. The deposit is generally about 5% of the purchase price, but your sales representative can suggest and negotiate a different amount for the deposit. The agent can also negotiate things that are included or excluded from the purchase price.
For instance, if the buyer wishes to keep some of the appliances, fixtures or window coverings, the agent can attempt to have these items included with the purchase price.
If you would like to receive the full First Time Home Buyer’s Guide, call me at 647-504-0690, or email me at steven.ho@ssbhg.ca
My Client Ratings
My Recent Testimonials
-
“Steven Ho is a knowledgeable, professional and wonderful agent. He provided us with all the support we needed. Steven was always quick with answering all our questions and helpful with the doubts which had crossed our minds. His positive attitude, his knowledge and understanding helped us throughout the process. Steven was always making sure that we are doing ok. He made us feel like we were part of the Team and that we knew we can trust and depend on one another. Thank you Steven for that experience. Bozena and Janusz”
-
“We have put our trust in Steven Ho hands, and we’re confident in this decision. Excellent service, great people. In this very stressful time we have all support we need. Steven have all answers to our questions. He understands exactly what we need.”
-
“Steven went above and beyond, occasionally working late and was very professional in his help for me buying my first home. He patiently and thoroughly explained every step of the buying process and I felt I learned immensely about the real estate market from his services. In his experience, he understood the various steps a buyer goes through and helped us navigate it with ease, advising on future-proofing and other considerations. He was also able to communicate with my Cantonese speaking parents which is an important factor. He was never once late on our ~10 showings within 2 weeks and never once pressured us to buy. In the buying process he was analytical and firm. He negotiated our purchase price to an attractive level. I cannot recommend Steven enough for your next real estate deal!”
-
“Steve was very trusting right from the start. Stayed open and honest through out the selling process. Also kept me in the loop during the process. Great experience and would definitely recommend him”
-
“Steve was extremely knowledgeable, accommodating and responsible. He was always attentive yet not overbearing, and explained a much complicated process into simple terms for the average person to understand. Steve understands people and is someone you can trust with a big decisions like purchasing a home. Reliable, open communication and professional, these are qualities you want in a real estate agent. I would (and have) recommend Steve to my friends and colleagues if they are in the market for a home, I am sure he will not disappoint! Don't change Steve!”
-
“A true professional to deal with. Very through in all aspect of the selling process and kept us inform at all stages. Very passionate about his work and genuinely care about his clients!”
-
“Moving to Ontario from another province can be both stressful and challenging, Steven was able to work with our out of province agent to facilitate the sale and purchase of homes across provincial borders. Steven's knowledge of the region and real estate advice were spot on and helped us choose our new neighborhood.”
-
“Get Steven Ho as your real estate agent period! He is dedicated in guiding and finding the right home for you. He was available and quick to respond to any concerns or questions during my house hunting process. After a 1 month of non stop viewings and after 7 offers, I finally was able to secure a property with Steven’s guidance. With the market being so hot, not once did he lose patience with my anxiety and uncertainty of buying my first condo. No other options, Steven Ho is your guy!”
-
“Steven was fantastic to work with! He made the entire buying and selling process so easy for us. It can be a stressful experience, but he was able to guide and direct us to be exactly where we needed to be. He was professional and knowledgeable throughout the whole process. We are moving into a beautiful home and sold ours, much to our delight! Thank you Steven for all of your help. We highly recommend you :)”
-
“Steven Ho was an absolute delight to work with! He is highly knowledgeable and ensured that we were asking the right questions and also getting the right answers as a couple of first time home buyers. It was such an important purchase and milestone for my boyfriend and I, we really wanted someone who had our best interest at heart and guide us through every step of the process. Steven was always excited to show us many different units that were suitable for our needs and meets our requirements. In fact, he made sure we had our list of non-negotiables down pact and kept our focus on the important check boxes, so we didn't get distracted from our goal. Steven is very personable & funny but also timely and professional! He made what could have been a very tough experience a light hearted and happy memory we will never forget. Thank you!”
-
“Steven was a consummate professional throughout the whole process of buying our ‘forever’ home. He was very patient with our seemingly endless demands, and was able to narrow down our ‘must haves’ that fell within our rigid budget. Before the process, I knew Steven on a personal level, and I’m happy to say that now know him on a professional level!”
-
“Steve Ho went above and beyond. When selling my condo, he saved me lots of time and money as I did not have to stage the property or receive any showings are open houses. Steve sold my property to a friend of his at fair market value. Huge time-saver!”
-
“Steven Ho was focused on helping me with my wants and needs. I felt he helped me with my options and the considerations of the future and our family needs. Steven Ho cares about the client and goes out of his way to make sure me as a client knows and understands each process when buying a home. Thank you Steven Ho for the great experience! I would recommend Steven Ho to my friends and family.”
-
“Steve made me feel very comfortable and was very informative in all our interactions. He took the time to show me several different condo units and ensured I considered all my options during my search. Steve's excellent communication skills and positive attitude made my first purchase seamless. I would recommend Steve to anyone looking for a reliable and trustworthy agent! Thanks SteveO!!!”
-
“It's always great working with Steven. Seeing that I'm located in Vancouver I needed an agent who I could trust and have take the lead. Steven was the best man for the job. Neelin”
-
“We couldn't ask for more. Mr. Ho helped us sold our house within a week with higher than our expected price. Great job!”
-
“Steven is a great, accommodating broker which fit very well with our style and our needs. He was quick to respond and very flexible with his time. He quickly figured out what our needs were and presented us with viable properties in a short period of time. I would work with him again.”
-
“Steve was extremely helpful in getting and maintaining the house . He provided excellent service , and looked after all the details. He was easy to communicate with, and kept us updated with reports and good communication. Anyone that hires Steve to be their real estate agent is in good hands. Thanks Steve”
-
“Steven Ho made an excellent first impression. He was well prepared and he listened to what I required regarding a quick sale at a fair price. I would recommend Steven Ho to family and friends.”
-
“Steven Ho is extremely professional. He knows how to handle many tough and challenging situations, and is always calm and relaxed. It makes yourself feel at ease. He is also very knowledgable about many different communities on the market, and will help you to the best of what you are looking to achieve for your personal buy or sell to the best of his abilities. I have used him for both. I would recommend Steven Ho to anyone trying to Buy or Sell.”
-
“We had an agent like 6 months ago, but he didn't seem to understand what we need and don't have enough local knowledge. So we decided to switch. We as newcomers and first home buyers in Toronto, really hope that we can have someone can guide us through the process. And Steven did a great job. Our whole process would have been smoother if we follow all his advice. Steven can be reached whenever we need his help. And he will explain many things that are new to us in details, even before we realize what needed to be paid attention to.”
-
“Steve had a great understanding of our needs as a first time home buyers. He went above and beyond to deliver on his promise for our first home. He was very helpful and made the process very smooth for us. My wife and I are glad that we chose him as our agent. I would definitely refer Steve and Better Homes and Gardens Real Estate to all my friends and family in need of a property.”
-
“Steven provided incredible service and was always available during the process. It took me around 5 months to purchase a home and Steven invested a lot of time into showing me houses and lining up comparable homes to the place I liked. He was able to negotiate after the home inspection and get me what I wanted and in the end, Steven even helped me unload the moving truck and welcomed me into my new home. I know no one is perfect and excellent should be really hard to achieve but Steven really does perform above expectations. My Mom was along for the ride in viewing houses and helping me with my decision; my Mom was very impressed by Steven and it was her first time interacting with him. If we were to do it all over again we would choose Steven 100%.”
-
“Steven Ho helped us to buy our first home as fast as i want, deal a good price for us and we satisfied with our choice. Thank you so much!”
-
“In a time where the market is changing so frequently, it took me a long time to figure out what I really wanted in my new home and what was affordable. Steve and I went from Guelph to Burlington to Brampton to Mississauga to Downtown Toronto. Throughout all of this Steve was patient and was always willing to discuss the pros and cons of every area. I felt that he was not only my realtor but my home shrink. Helping me to really figure out what was important to me in a home. I plan on using Steve for all my future purchases and I would recommend him to anyone that is looking for a new home.”
-
“I have dealt with many real estate agents in the past, and I would have to say that my experiences were not good or neutral. All of the agents I've dealt with before did less work than I did in terms of researching or marketing than I did myself. Steven is a refreshing change in that he comes across as a genuine person. When he tells you his opinion, he's not afraid to tell it like it is about a property or a situation. I value that, as an agent's professional, critical opinion is really the only thing of value to me. Anyone can do paperwork and take money in trust. I also personally found Steven to a very relatable guy, so this made spending time with him and conversing with him that much more enjoyable and efficient. I have no reservations about recommending Steven. He is a hard worker, knowledgeable about the geography and homes themselves, and gets back to you quickly.”
-
“Our sale experience was something we never forget. Everything was well organized and money for our property was very good. We will strongly recommended Stven Ho to our family and friends”
-
“From the beginning, we could see that Steven considered all our needs and expectation. Probably he could see that we have no idea what the market looks like in this days but with his knowledge and professional approach he “walk us through” our first steps to purchase new property. If not for the Steven’s dialogs with the sellers and handling the negotiations the way, he did we probably would not by this property. His tactic and professionalism kept us calm and helped us to think clearly and realistically. We loved Steven’s service. Our family (few members met Steven) we think that Steven is an excellent agent. Because of Steven we purchased home we absolutely love. Because of him we did not give up to look for the property till we found the one we fell in love. We are regular hard working couple and we are so happy that Steven was our agent. Because of him we did find our dream home. Maybe it is not the castle for the others, but it is for us. We are really so lucky that we met Steven and trusted him.”
-
“Excellent services. Online advertising is amazing. Able to sell the property very quick and above asking price.”
-
“Steven is dedicated to help sell or purchase your home and he puts everything he has into the task at hand.”
-
“I was very satisfied with Steven Ho.”
-
“Steven is an extremely friendly and supportive realtor. He looks out for his clients and offers a service that is unique. I will recommend him to my friends and family.”
-
“Steven Ho was extremely professional , considerate and very helpful in many factors in selling my home. I was greatly impressed with his knowledge and input on improving my home for the sale. I was most impressed with Steven Hos advertising and people skills. He has a great game plan and was well calm and collected and beyond prepared to answer any questions that were concerning to me. I felt very comfortable putting my full trust in him from the beginning to sell my home.”
-
“We were impressed by Steven's outstanding customer service. His responsiveness to our questions/communications put us at ease with our house selling/purchase which was stressful at times. Steven took care of all the details when we needed to list our house, from professional photos/virtual tour to staging. He is also a great negotiator who was looking out for our interest to get the best possible deals for us (both selling and buying). We would highly recommend Steven to anyone for their real estate needs.”
-
“Steve was a fantastic agent to work with! He is very upbeat, positive and friendly...he made sure that our needs were taken care of at all times. He was knowledgeable and trustworthy which made the entire process of selling our home convenient and hassle free. We felt like Steve truly listened to us and valued what we had to say. He never pressured us into making decisions when we weren't ready. We would recommend him to friends and family with confidence that they will have the same great experience that we had. We were able to sell our home well over asking...which speaks to his fantastic abilities to sell homes! Thanks Steve!”
-
“Working with Steven was fantastic. He is a real professional! Great experience to do business with Steven and professionals working along with him!”
-
“We were introduced to Steve more than 5 years ago when we were looking to buy a new construction condo for investment. Steve was was very helpful in advising and finding us the right developer and building, understanding our needs and wants. To this day we are very happy with his recommendation. Based on this very positive experience, we asked Steve to find us a condo for our own living since we wanted to downsize. He was very patient with us taking us for numerous showings in various parts of the city. This process took over 3 years and with his broad market knowledge and advice he was always ready to point us the pros and cons of each property. When he finally found us the unit we really liked, he did a great job of negotiating the right price for us. It was a highly positive experience from start to finish. Steve is very friendly, approachable, easy to deal with and communicate. He works very hard for his clients. We are very pleased with his services and highly recommend him to anyone.”
-
“Steven Ho was very good to work with, he was patient, efficient and very knowledgeable. Even though it started off as a business relationship I can see it growing into something bigger, our kids love him and he made working with him very easy. I would definitely recommend him to my friends and family.”
-
“Our experience buying our first home with Steven Ho was fantastic! He was very knowledgeable, friendly and accessible. We would highly recommend his services!”
-
“Steven Ho made our first home purchase experience extremely satisfying. He was there to offer his helpful insight with all the properties we viewed. When it came to the actual negotiations he was able to get us a deal below the asking price when it was a seller's market! I highly recommend Steven to anyone especcially first time home buyers”
-
“Steve is a knowledgeable, trustworthy broker who will put even the most discerning buyer or seller at ease”
-
“Steve is the best. He gets results.”
-
“Mr Steven Ho has demonstrated professionalism during the whole progress of the deal. He is patient, detailed and passion to helping me for reaching, offerings, closing and follow up all in order to compete the deal. Very appreciated for his working attitudes and wish to contact him again for my next purchase.”
-
“Thank you for the successful sale of my home. Steven Ho presented himself in a professional calm manner, most knowledgeable and considerate of my needs. Thank you for your hard work, dedication and guidance through the negotiations. I sincerely wish you all the success in the future. I am pleased to recommend Steven without hesistation.”
-
“Overall I had a great experience. Steven Ho was with me through the entire process, we looked at over a dozen places, and we had great conversations about what I needed and was looking for. He was always available, informative, punctual, flexible, and professional. We also had a great time on the road. Buying your first home can be very stressful but Steven's humor and positive attitude helped make the situation more comfortable and enjoyable. I have recommended Steven Ho to friends and family and he will be my broker the next time I buy/sell a house.”
-
“I used Steve because I see him multiple times a week and thus, have a full understanding of his character which is quite high. Honest, with high morals. Focuses on his clients needs rather than trying to sell the highest price property. Very hard working and almost always available.”
-
“Steven Ho is friendly and a pleasant man. He is very knowledgeable and expertise with the field of real estate. He helped me a lot whatever I gave a call to ask him even it was very minor thing. He will call me within a day and answered what I really want to know. He is so enthusiastic and very careful for the client needs. Therefore there is no problem I will recommend to my friends and continuous the relationship with him.”
