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When it comes to buying a home, having a solid real estate budget is crucial. In Orleans, homes typically sell for over $400,000 and we’re seeing more and more selling over $1,000,000. Therefore it is extremely important to set expectations and have taken the necessary budgeting steps prior to starting your search. This involves getting pre-approved by your lender, understanding your mortgage options, and knowing what your home will sell for prior to making an offer. In addition, it’s important to be aware of all the different types of closing costs in Ontario and how they can affect your purchase. And finally, if you’re thinking about taking out an insured mortgage or a non-insured mortgage, and also whether to go with a fixed mortgage versus a variable mortgage it’s important to understand the differences between these types of financing. Appraisals are also overlooked by a lot of Buyers which can be pivotal to any purchase. Overall, real estate is an extremely complex field that requires careful planning and attention to detail at every step of the process. So if you’re considering making an investment in property, do your research and work closely with an experienced Real Estate agent who can guide you every step of the way.
Please contact Marc-Andre Perrier, Orleans Real Estate Agent with Century 21 Action Power Team to help guide you through this complex process.
