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A SPECIAL INTEREST SECTION BY MEDIAPLANET
A SPECIAL INTEREST SECTION BY MEDIAPLANET Read more at innovatingcanada.ca
First-Time Home Buyer
with the Scott Brothers
What are your top 3 tips for first-time buyers? Tip 1: Do your research and think ahead Choosing a new home also means choosing a neighbourhood — one you may want to stay in for the foreseeable future. Think about where you'd like to be a few years down the road, and make sure your new home and community are right where you want to be. Researching average home prices and nearby amenities will help you determine whether a neighbourhood will be a good long-term fit. Tip 2: Crunch the numbers Planning well saves you money in the long run. When going house hunting, it’s important to know both what you can afford comfortably and what's special enough that you're willing to stretch the budget. If you know that in a year or two you’re going to either expand your family or need a little more space, it’s a better idea to find a way to get a home you can grow into without all the expenses of moving again.
Tip 3: Have a list but keep an open mind. It’s a good idea to write down a list of the things that are important to you when it comes to your first home. Knowing your must-haves will help you stay focused during your home search and help you feel confident when you think you’ve found the one. And remember: no home is perfect without your touch, so if you see a funky paint colour you don’t like, remember that paint isn’t structural.
How important are preparation and education for first-time buyers when entering the market? You can never be too prepared, especially when it comes to buying your first home. That’s why working with a brokerage like Properly is so helpful — along with an expert team of real estate agents, Properly arms you with the data and tools you need to navigate the real estate market with ease. For example, Properly’s Instant Estimate tool is a free home value calculator that allows you to track the value of
any home in the GTA, so you can keep your finger on the pulse of the market.
Tell us about your partnership with Properly and how it can help first-time buyers. Properly is a new kind of real estate brokerage that’s making home buying easier and empowering first-time home buyers with data and real estate expertise. Properly’s home search site lets you find new listings quickly and easily, and since listing prices don’t tell the whole story, it also shows recent sold history and sold prices. The Instant Estimate tool is powered by AI and helps you and your agent go into an offer situation understanding the true and accurate value of a home. Properly also has a top-tier roster of agents who know the market inside and out and are backed by a team of in-house pricing, closing, and negotiation experts to support buyers. Expertise matters in today’s hot market!
Have Confidence in Your Real Estate Dealings
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uying a home is very exciting, but it can also be daunting, especially in a competitive or super-heated market. Before you jump in, it’s essential that you feel as confident and in control as possible. That’s why it’s a good idea to hire an agent who's in good standing with the Real Estate Council of Ontario (RECO). We encourage you to speak with several agents before choosing the one who you feel best meets your needs, and to use RECO’s real estate professional search tool to check the status of your agent.
What does the RECO do? Like many other professionals — including lawyers, accountants, teachers, nurses, and engineers — real estate agents and broker-
ages are regulated in Ontario and in other provinces as well. The RECO enforces the Ontario government’s Real Estate and Business Brokers Act, 2002 to protect buyers and sellers. Our mission is to promote a fair, safe, and informed real estate market. While most agents follow the rules, unfortunately — as in all professions — there are some who do not. If we receive a complaint about an agent or brokerage, we'll investigate and take appropriate action.
Education to meet the needs of buyers and sellers Before they're allowed to become registered with the RECO and to trade in real estate, aspiring agents must pass a set of comprehensive exams to ensure they understand the rules and have the expertise to provide the best service
possible to their clients. This includes having a thorough grasp of many topics, such as: Laws that apply to real estate transactions Rights and responsibilities of agent and client Terms and conditions of agreements Multiple offers Pre-emptive (or bully) offers Advertising rules Lockboxes Mortgages Home inspections Insurance to protect you and your money Through the RECO, your agent is also insured. Consumer deposit insurance protects your deposit in the event of fraud, misappropriation of funds, or insolvency, and is available at no cost to those who hire a brokerage.
For more information, visit reco.on.ca. This article was sponsored by the Real Estate Council of Ontario
Project Manager: Hunter Veltri Business Development Manager: Melanie Kosev Country Manager: Nina Theodorlis Content & Production Manager: Raymond Fan Designer: Lauren Livingston Content & Web Editor: Karthik Talwar All images are from Getty Images unless otherwise credited. This section was created by Mediaplanet and did not involve the National Post or its editorial departments. Send all inquiries to ca.editorial@mediaplanet.com.
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