Real estate buying guide

Buying a home, whether it's your first time or as an existing homeowner, is a little overwhelming and it’s easy to get swept up in the excitement. We’ve turned to real estate agent Linda Turner from Royal Lepage Meadowtowne Realty in Mississauga, Ont. to provide you with a comprehensive real estate buying guide, including all you need to know about the new Harmonized Sales Tax (HST) that will set you on the right path to homeownership.

What to consider before looking
Before you even start to look for a home, the first thing to do is seek financial advice and qualification. Check your credit rating by calling either Trans Union of Canada at 1-800-663-9980 or Equifax Credit Information Services Canada at 1-800-465-7166.

Visit a financial institution and get pre-approved for a mortgage to figure out how much you can afford. “With the new mortgage rules, it's more important than ever to obtain a pre-approved mortgage even before starting your search,” says Linda. Not only will a pre-approved mortgage reward you with interest rate protection during your home search, it will help give you a realistic perspective when determining your options.

Seek qualified, professional help in through a real estate agent. This helping hand won’t cost you a dime since the seller pays the commission. Find an agent with a successful and proven track record who understands your situation and tastes and who you are confident can negotiate the best possible deal -- and has your best interests at heart. If you're thinking of buying new from a builder instead, your real estate agent will be happy to investigate the many builders who co-operate with brokers and take you personally to several sales offices. Experienced realtors can assist with negotiations too.