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The First Steps in the Home-Buying Process

July 19, 2021

Homeownership for many people is a dream come true. However, if you’re a first-time homebuyer or don’t have a great real estate agent working with you, it can quickly become a nightmare.

When shopping for one of the biggest investments in your life, working with a professional is the way to go. 

Sunny Sharma and Kathleen Xie, Broker owners of Century 21 Leading Edge VIP Realty Inc. in Markham, Ontario, have over 46 years of combined experience as top real estate agents in the Greater Toronto Area. 

Sunny was CCIM President Central Canada 2017 & 2018 and recently ranked #13 in Century 21 Canada for 2020. Kathleen is also one of the top producers with the Toronto Real Estate Board. She is fluent in Mandarin, Cantonese and English, and with a track record for negotiating transactions like no other. 

Everything from getting the right mortgage to completing your paperwork seamlessly, an agent like Sunny and Kathleen will ensure that your experience is seamless. 

They will answer your questions about down payments, renting vs. buying, how to build up equity quickly, taxes and other wealth-building strategies. 

Here are some of the most important steps to homeownership:

  1. Determine how much cash you have on hand for a down payment. The more you have for a down payment, the better terms you can get for your mortgage. 
  2. Proof of Income. Mortgage lenders will want to see 3 to 6 months’ worth of paystubs and bank account statements. This helps determine whether or not you will able to afford the mortgage payments. 
  3. Your Credit Score. The higher your credit score, the better the mortgage deal you can get. 
  4. A Realistic Budget. If you’re ready to buy a house, make sure you have the cash flow for unexpected expenses.
  5. Other expenses to consider are possible mortgage insurance, home insurance, including fire, damage, and theft insurance policies, and property taxes.
  6. Other Fees will include legal fees and possibly other closing costs. 

Don’t forget to factor in the cost of moving and any possible renovations.

You may also want to set aside money for painting or decorating.

An experienced realtor can offer a wide range of assistance to home buyers. Choosing the right one can save you a great deal of money and secure you the home of your dreams. However, not all realtors are built the same. Experience, integrity and professional services are how Sunny Sharma and Kathleen Xie stand out. 

Don’t forget to celebrate and enjoy your new investment. Owning a home is a great opportunity to build your net worth and a great place to build memories for your family. So let Sunny and Kathleen make your dreams of homeownership a reality. 

Contact Sunny at 416-566-2850 or Kathleen at 416 587 8381 

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