REALTOR® Tape Tips

#47 - Get pre-approved before you start house hunting. This not only helps you understand your true budget, but also strengthens your offer when you find the right home. 

#16 - In a competitive market, being pre-approved for your mortgage can give you the edge you need to secure the property you love!

#70 - Get pre-approved so that when the time comes you can make an offer with confidence, letting sellers know you are serious buyers and ready to commit.

#92 - Don’t just get pre-qualified, get pre-approved; this gives your REALTOR® leverage when they negotiate for you.

#23 - Getting pre-approved helps you stick to your budget to stay realistic and confident throughout the home buying process.

#55 - Make sure you have a pre-approval from a lender or a mortgage broker before you start shopping so you know exactly how much you can qualify for. 

#66 - Always shop around for your mortgage. A good mortgage broker should search the market for the best overall deal for you, which doesn’t just mean the best rate.

#78 - Make sure you’ve calculated what the monthly payments would be if you buy at the highest price you’re pre-approved for.

#31 - Be ready and be prepared. Know your buying power early so you can act fast and confidently when the right home hits the market.

#95 - Consider setting aside sufficient funds as a security blanket in the event of an emergency so that you don’t miss a payment and potentially lose your home. 

#83 - You should try and have at least three months of mortgage payments in a savings account for a rainy day. Now's the time to consider mortgage insurance.

#14 - Understand and account for all closing costs upfront. You need to budget beyond the down payment to avoid surprises once you’ve moved in.

#59 - Once you’re pre-approved it sometimes pays to wait. Keep an eye on mortgage rates and lock in when it's the right time.

#98 - Check your credit report early in the process for any errors that might affect your mortgage rate or approval. 

#45 - Don’t overextend yourself financially to buy your dream home. You should always leave room in your budget for emergencies, repairs, and life changes.

#93 - Make sure you take advantage of all the first-time home buyer privileges available from the government like First Home Savings Account (FHSA).

#76 - Date the rate, marry the purchase price.

#97 - When buying a home, try to keep your current needs in focus instead of trying to forecast what they may be in a few years time. 

#20 - This doesn’t necessarily have to be your forever home. It can be a stepping-stone to get to the home of your dreams.  

#94 - Buy only when you can afford to and when it makes sense for your situation. Try to filter out all the noise from people pressuring you to buy before you’re ready.

#35 - Don’t stress about trying to time the market — the best time to make a move is when it feels right for you. 

#53 - If you’ve already sold your house, resist the urge to buy something that’s not quite right. You can always rent for a while until you find the perfect place.

#29 - Patience is essential. It’s so easy to get caught up in the stress of the process so don’t feel pressured to settle for less.

#26 - Remember that the process of buying a home is a marathon, not a sprint. Don't get discouraged and don't settle until you find something that meets your needs.

#80 - It’s never too early in the process to start working with a REALTOR®. They can help you figure out all the steps.

#85 - Thinking long term can help you make decisions if you know where your life's headed. 

#62 - Don’t book the movers or order the pizza party for closing day, always wait until the day after.

#37 - When you’re looking to buy, don't call the sign on the lawn. Make sure you are working with your own REALTOR® who will protect your interests. 

#27 - When you buy and sell in the same market, timing becomes less important—prices affect both sides, so the relative cost often stays the same.

#34 - Affordable comfort beats over-stretching for perfection, every time.

#56 - Be strict with yourselves about what you need versus what you want and be flexible. You may never find the "perfect home" that meets all of your wants but that’s ok if it meets your needs.

#8 - Your opinion matters most. What's best for others isn't necessarily what's best for you, it’s your decision and you need to be comfortable with it. 

#11 - One way to help define needs over wants is to focus on layout, condition and location more than appearance or trendy finishes.

#7 - Come with an open mind because what may not look like the house for you on a screen may end up being exactly what you were looking for.

#73 - Do a rough calculation for any renovations you’ll need to do, especially if it’s an older home. Factor in how much you’re willing to invest and the potential return when it’s time to sell.

#52 - Renovations can easily get expensive. If you’re not totally confident in your renovation abilities, consider a modern turnkey instead.

#44 - In general you can follow the 80/20 rule for most houses. 80% of features are critical. 20% are cosmetic and can be modified. 

#25 - Always get a home inspection, even for a brand-new build. Not only will it give you peace of mind, but it can also help you in the final negotiations.

#96 - Don't skip the home inspection. Sometimes it will uncover issues that you can ask the owner to address before you close, saving you thousands in future repairs.

#50 - Think like an investor and always keep one eye on future profitability. Even if you’re buying a home to live in, think about how much it could appreciate - or depreciate - over time. 

#13 - Look for features that increase home value over time, such as energy-efficient upgrades or proximity to future developments like transport links or new schools.

#60 - Consider starting every home visit in the basement. This is where you can get a good idea of the overall condition of the home and see potentially expensive problems. 

#90 - Start the process well in advance of your target move-in date to allow for research, pre-approval, and a smooth transition.

#64 - Always try to look past the staging of a home you’re considering. Good staging can make a house look more attractive than it actually is. 

#15 - Make sure that you feel good being inside the property. Checking the boxes of what you need isn’t enough, ask yourself if this is a home you’d be excited to host a dinner party in. 

#22 - Moving is expensive, so try to forecast what your needs will be for the next 10 years. "Future proofing" your purchase means you won’t have to move again in a couple of years.

#38 - Try to get into the market as early in life as you can in order to maximize your long-term growth in equity.

#87 - When it comes time to make an offer, do all of your research and work with your REALTOR® to ensure that you're in a position to make an offer with no conditions. 

#5 - Making an offer is about building trust between all parties. Think of it like a first date, you may only get one chance to make a good impression so be honest and fair.

#79 - Be as flexible as possible in terms of price, closing date, and inclusions to help make negotiations go smoothly. Try to overlook the minor things you don’t like.

#12 - Take everything step by step. Buying a home can become overwhelming and your REALTOR® is there to help you throughout the process.

#39 - Flexibility is key, especially in a hot market. Look for different areas and property types to open up your search criteria.

#71 - When entering negotiations, go in knowing that at the end of the day both sides may end up a little bit unhappy. That’s OK. 

#86 - Understand what a property is worth to you before you make an offer. You need to establish what your ‘no regrets’ price is.

#72 - Remember that the buyer determines what they will offer, it may or may not match the asking price. Your REALTOR® has the experience and current market data to help guide you.

#33 - It’s not always a good strategy to buy the most expensive house on the street. It may be hard to get your money back when selling.

#30 - Even if there aren’t multiple bids on a home you like, writing a heartfelt, personal letter to the seller can go a long way to help negotiations go smoothly. 

#43 - When looking to buy, think like a landlord. If your financial situation changes, could you easily rent your place out to cover the mortgage? Treat your home like an investment.

#10 - Never skip a final walkthrough. It’s your last chance to verify repairs and ensure that everything’s in order so that you can avoid unpleasant surprises.

#49 - Always pay for a professional home inspector.

#9 - When negotiating, try to keep your emotions out of the process. The house has no feelings and that should be the focus.

#3 - It sounds obvious but always make sure you try to view a property twice. It’s amazing what you’ll see the second time around. 

#17 - Ask your REALTOR® to check for local zoning and development plans before making an offer. That quiet green space behind your future home may have been approved for a condo building. 

#84 - This is often overlooked but the land itself is almost as important as location.

#21 - One important feature often missed by buyers is the grading/slope of a property. With extreme weather increasing, having appropriate grading can save thousands in damages.

#6 - Easements can haunt you after your house purchase. Your REALTOR® can help make sure there aren’t any hidden things to worry about.

#99 - When visiting a property, pay attention to where the sun rises and sets. Natural light can affect energy bills and plant life.

#40 - When visiting a home, bring a bouncy ball to check if the house is tilted to one side. This is especially important in the case of non-carpeted floors.

#67 - Location is key but don’t ignore the property itself. Fishbowl backyards are hard to sell so if you buy one you’ll need to sell for a discount in a balanced or slow market.

#100 - Ask about any past insurance claims on the property. Previous flooding, fires, or structural issues can impact your premiums - or even eligibility.

#58 - It’s a cliché but location matters. You can modify everything about a home (interior, wall paint, décor, flooring, even its size) but you can’t change its location.

#2 - Location is most important when it comes to your daily quality of life. Important things to consider are convenience in terms of proximity for shopping or commuting as well as school zones.

#28 - Working with a local REALTOR® who knows the area helps you understand the value of not only the street but the location on the street. 

#1 - When it comes to location there are three essentials to look for: how close you are to work, amenities and fun. 

#75 - Buying a beautiful house in a neighbourhood where the neighbours don’t take care of their own homes or yards can decrease your home value.

#42 - You can change almost anything about a house except its location and its lot.

#19 - Focus on long-term value, not just first impressions. Location matters more than staging.

#68 - Make sure you visit a property at different times of the day, especially if it’s located on a main road, in a busy area or near a school.

#18 - Explore every neighbourhood to see if it’s gentrifying. Are people renovating? Buying in an up-and-coming neighbourhood could increase your home’s value over time.

#24 - When buying a rural property or cottage, it's best to find a REALTOR® that lives in the area and is knowledgeable about septic systems and wells.

#81 - Knowledge is key to making the decision that’s right for you. Research neighbourhoods for schools, transit, amenities, and resale value. 

#32 - Meet your potential neighbours and ask them about the neighbourhood. Are they happy? What would they change about it? Neighbours can tell you everything.

#48 - Try to view as many different properties as possible, you’ll find yourself re-thinking what is important. It helps narrow down what is really important to you as a buyer.

#74 - If the house you’re interested in has been recently renovated, ask your REALTOR® to make sure there are no outstanding permits on the property.

#88 - Whenever possible, book showings and inspections when it’s pouring rain. It can reveal so much about drainage, foundation, and that roof that suddenly wants to be a skylight.

#77 - If you’re looking at condos, it's essential to fully understand the condominium documents, especially the reserve fund balance.

#36 - Trust your nose when looking at properties. Strong smells may indicate a mould problem or indicate that the seller is trying to cover up a problem.

#65 - If your timeline allows, try to schedule a walkthrough after the snow melts. Hidden issues often reveal themselves in spring.

#41 - If you’re looking at buying an older home, make sure you know how much the fuse box is rated for (100 or 200 amps) and whether the wiring needs to be replaced.

#91 - Always find out the type of plumbing used in the house, especially if it’s an older home. Copper pipes need to be replaced after 50 years due to corrosion.

#4 - Ask how old the roof is. Some insurance companies won't insure the roof if it's more than 10 years old.

#46 - It sounds basic, but a good house always starts with a good foundation. Start every visit by checking the condition of the foundation. 

#51 - Consider the size and shape of different rooms for the layout of furniture. Sometimes doorways and windows limit the amount of wall space available for couches and TV viewing.

#57 - Always check the age and condition of the HVAC system. This can cost thousands to upgrade. 

#61 - It probably won’t be a dealbreaker but it can be a good idea to measure your favourite pieces of furniture to see if they will fit in any of the homes you’re interested in.

#63 - If you’re buying a new-build in a development make sure you’ve researched the builder and visited other places they’ve built. 

#69 - Buying a home is likely the biggest financial decision you will ever make. And it’s not always easy. So, make sure you find a REALTOR® that you trust and feel comfortable with. 

#89 - Choosing the right REALTOR® is an essential part of the process. Their experience and expertise help you focus on what’s important - getting the right home for your needs.  

#82 - Make sure that you feel good about all of the professionals that you will work with: mortgage broker, lawyer and home inspector. And of course, your REALTOR®!

#54 - Even if buying a new home directly from developers, it’s still important to work with a REALTOR®. You can rely on them to always have your back.