Home Buying 101

This is likely the biggest investment you will ever make. To help you better understand this process we have outlined the steps you will need to take once you have decided you’re ready to buy a home. It’s important to work with experienced people you trust because there is so much to think about and do. You want this process to be as smooth as possible and we’re here to offer you expert advice that comes from years of experience in buying and selling houses as well as investment properties in Hamilton, ON and the surrounding areas.

“It takes hands to build a house, but only hearts can build a home.”
— Happy Home Owner

The Buying Process

Before you start looking for a home with your Ridge Realty Group Realtor you should speak to your bank and find out what you need to do to be pre-approved for a mortgage. This step will really help you figure out what you can spend on a home. You will also be protected against rising interest rates.

GETTING PRE-APPROVED

After you’ve been pre-approved and you know what kind of home you are looking for, you can start looking. Your Realtor will take your budget and needs into consideration while they search the market to find the perfect home for you.

FINDING YOUR HOME

Once you have found your perfect home, your Ridge Realty Group Realtor will help you put together an offer of purchase and sale. Keep in mind, your offer may not be accepted. It could also be signed back asking different terms. This is where your Ridge Realty Group Agent will shine for you, they will work to get you the best deal possible. It’s their job to negotiate for you.

MAKING AN OFFER

Once your offer is accepted you will have a conditional sale, this means that until the conditions of the offer are fulfilled the sale is not firm. Conditions can including things like financing, inspection, sale of property, etc.  Once the conditions on your offer are met, or if there weren’t any to begin with, you have a firm sale. The sold sign will go up on the property and you can call it yours. Your realtor will collect your deposit cheque and submit to the Listing Brokerage.

CONDITIONAL/FIRM SALE

Other than your Ridge Realty Group Realtor you will need a few more professionals on your team to buy your home. A home inspector is a good idea to save you from surprises you don’t want with your new home. They will inspect the property for any structural damage and anything else that is of concern. Once they are finished they will prepare a detailed report for you to go over. You will also need a lawyer. The lawyer has to be experienced in Canadian real estate and will make sure that you and your investment are well protected.

HAVING PROFESSIONALS ON YOUR TEAM

The closing day is the day you officially take ownership. Congratulations you now own your home. Keep in mind there are closing costs to be aware of. These can include things like: inspections, legal fees, insurance, registration, mortgage application fees, and more. Your Ridge Realty Group Realtor will be a great help in managing all of this and getting you to the last step: collecting the keys and moving in.

CLOSING THE SALE

Things to Consider

WHAT DO YOU NEED AND WHAT DO YOU WANT?

Make a list of the things your new home must have like the number of bedrooms and bathrooms. Then, list some of the things you would like to have, maybe a pool or finished basement.

You will want your house to be in a convenient location but also in a good neighbourhood. Your Ridge Realty Group Agent knows the best spots in Niagara, Hamilton, Halton, and surrounding areas to live, work and play.

UNDERSTAND YOUR MARKET.

You should know the price range you can afford before you start shopping and share that information with your Realtor. Keep in mind you will need to put up a deposit once your offer is accepted. The deposit will come off the down payment when it’s time. The more money you put into your down payment the more you will save on monthly mortgage payments and interest paid.

WHAT CAN YOU AFFORD?

What Our Clients Are Saying

  • Thank you, Ridge Realty Group for helping me buy my first home. After losing hope in a crazy market, we were able to find something that made it all worthwhile. I am beyond grateful for Paolo and Mike for guiding me through this entire process and taking care of me the whole way through!

    Richard Zerafa

  • My husband and I were looking for the perfect rental income property in Hamilton. I had come across The Ridge Realty Group months earlier in all my research and immediately knew I wanted to work with them. From their reports on the Hamilton market to their experience working in this field, Paolo was amazing. We found our house on the first round of viewings. Six months later, we have our main home in Toronto and a wonderful duplex in Hamilton. He walked us through every step and negotiated a great deal for us. In addition, Paolo is still around all the time for questions and potentially helping our family and friends look for investment properties in Hamilton as well. It was great to work with this professional and knowledgeable team. I highly recommend them! Thanks again Paolo. You Rock!!!

    - Sabrina Viva

  • I had the pleasure of working with both Paolo and Cory. All I can say is they are the real estate dream team! You want to get the job done right then this is your team! Such hard working, dedicated and honest guys. They worked day in and out to ensure results were met. And boy were they ever. A town record breaking sale of 400 over asking!!! I was kept updated every step of the way. They exuberated such enthusiasm you can tell they are very passionate about their job and clients. I am beyond impressed by their work ethic and customer service that they are now helping find my forever home. Thank you Paolo and Cory and the Ridge Realty team for making this sale a smooth success.

    Trena Mueller

  • I worked with the Ridge Realty Group for two transactions, one to buy, and one to sell. Really loved working with this team as they listened to exactly what I was looking for and acted accordingly. I am going to continue working with this great team for my next transaction in Hamilton!

    - Raheel Baig

  • I can't say enough about my experience with The Ridge Realty Group. It was exceptional from beginning to end. I worked with Paolo Divitantonio and to say he exceed expectations would be an understatement to end all understatements. I can't emphasize enough how impressed I was and continue to be at his commitment and his attention to detail in every way! I was in the market for an Investment Property and not only did he very quickly learn exactly what I was looking for and begin sending me those specific listings, as soon as I was interested in any of them, he sent me a full breakdown of all potential rents, expenses, and all comparables so that I felt completley informed to make a decision. Once we got to the point of making an offer I was once again utterly impressed, his negotiation shills were absolutely on point and we were successful.

    - Zoie Palmer

  • Paolo was a great help in educating me on the Hamilton real estate market. He took the time to give me an extensive tour of the neighbourhoods, and was able to provide detailed answers to all my questions. I would highly recommend Paolo and The Ridge Realty Group.

    - Marc Ruston

  • PIt was a pleasure working with Paolo from the Ridge Realty Group as he is very knowledgable of the Hamilton housing market and understood our needs. He is very responsive and does not shy away from viewing a property quickly to not miss out on any oppourtunities. The home buying process was simple as all the properties shown were within our criteria which didn't waste any time. I highly recommend The Ridge Realty Group.

    - Chris Bladek

  • Paolo was the perfect realtor for our family. It was our first time selling and he came highly recommended by a friend. I always felt like he had our very best interest at heart. We bought a comFree home and ran into some unexpected kinks. Paolo went way above and beyond to smooth the process. He also knows the Hamilton market and really grasped exactly what we wanted in a home. I highly recommend Paolo and The Ridge Realty Group!

    - Stephanie Jette

  • I have been working with Paolo for over a year and the experience has been extremely positive. I'm an investor in the Hamilton area and have worked with a number of agents in the past - Paolo has been an invaluable member of my team who understands the Hamilton market, regions, and trends. I highly recommend this team for any investor looking to grow their business.

    - Justin Sood

  • Working with Paolo has been a fantastic experience! He has a strong understanding of the Hamilton investment market, while providing honest and credible insight about the existing market and future opportunities. I would strongly recommend working with him.

    - Dane Bougard

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