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How To Buy A House | Home Buyers Tips | What Neighbourhood Is Right | How To Choose A Mortgage | Closing And Negotiating Tips | BRA (Buyer Representation Agreement)

"Free Home Buying Tips"


Video Lables are Under Every Video
(Every Video, once finished, continues to other videos on the similar topic)


 How To Buy A House

 Home Buyers Tips



 What Neighbourhood Is Right

 How To Choose A Mortgage



 Closing And Negotiating Tips

         BRA (Buyer Representation Agreement)


Before you begin your search for a condo or a Freehold house , define the following and chances are you won't make any serious mistake like many do.

Condo Purchase Tips:

Freehold Purchase Tips

State your financial parameters

  • How Much Down Payment You Want To Make and how much money you will need: Keep in mind that you will need another 4-5 % for closing and other moving costs
  • How Much Monthly Payments Do You Want To Carry: The total monthly occupancy payments related to the purchase should include, monthly mortgage payments, maintenance costs, the property taxes and utilities.

Define Your Geographical Boundaries

  • By City: The database of properties is sorted out by the city.
  • By Area Boundaries In The City: It is a good idea to narrow down the search to a specific area of the city for speedy search for the most suitable properties.

Define your accommodation needs:

  • How Many Bedrooms You Need: A closet differentiates a bedroom from a regular room. Studio condo is a one large room. There are condo units with 1, 2 and 3 bedrooms. Only few buildings offer 3 bedroom units.
  • How Many Washrooms: If more than one person is going to live in the unit, two washrooms are desirable. Though units have become smaller over the years, the number of washrooms per unit have increased because of the life style requirements.
  • Do you want a fireplace --very few buildings have a fireplace and if they do, these are more often on the higher floors.
  • How Big ( Square Feet / Square Meters) The Unit Do You Want --Larger units are not found in many buildings
  • Do You Want A Balcony: It comes with a price. Many mature persons prefer to have a open balcony. Lately builders have started including the balcony space in the space being advertised. An open balcony at very high floors may be an expensive feature that one is unlikely to use on regular basis
  • Do You want a Terrace: Terraces are available on many high priced units. People coming from large homes like this feature.
  • Do You Need A Parking Spot: In many new buildings, parking spot is not included with the condominium units. If you need one, you will have to buy the parking spot . In early days the parking spot was included in the price of the unit.
  • Do You Need A Locker Space: Because the suites are getting smaller and smaller, a locker space is a desirable feature to store the items that you do not need day today basis.
  • Do You Need A Working Office Space: Some buildings offer separate offices that can be bought by the condo owners.
  • Do You Need A Gardening Area: Some condo complexes have garden plots that can be bought / rented for gardening enthusiasts.
  • Business Support At The Complex: Many buildings offer full business oriented facilities such as Internet access / fax / Wifi and other modern necessaties to meet the demands of busy executives.
  • Any Other Special Needs

Define your recreation and entertainment needs

  • A Swimming Pool: Indoor or outdoor. Indoor pool offers all year around use of the pool and is becoming more common. Many older buildings have only outside pool
  • Gym Facilities: While most buildings offer limited gym facilities, others have elaborate array of gym equipments
  • Would You Need a onsite a Guest Suite: This is a great feature for convenience as it addresses the issue of small suites not having any room for occasional overnight visitors.
  • Water Sports: This feature goes beyond the common swimming pool feature. Many resort and suburban condominiums have began offering such facilities.
  • Private Club For Entertaining Guests: Some high end condominiums, offer full evening entertainment club facilities and some condo complexes are attached to hotels allowing owners to have luxury lifestyle

Define Your Security And Comfort Needs

  • Access To Your Unit Through A Secure Entrance
  • Gated Security: The gated security is manned 24 hours a day and all visitors are signed in before entering the building
  • Doorman: Just like hotels there is a doorman to welcome you and assist you.
  • Security Desk: All visitors must be cleared by the security desk in the building.
  • Concierge Facilities: Some do have concierge facilities
  • 24 Hour Video Vigilance : Many buildings offer 24 hour video surveillance of the premises including floors and stairs
  • Valet Service: High end buildings offer Valet service often included at no additional cost.

Define Your Convenience Requirements:

  • Schools: Do you want your children to walk to school
  • Shopping: Minor and major shopping to meet your daily needs
  • Transit: Do you depend upon the transit
  • Parks: Is it within easy walking distance
  • Downtown: Do you want to be in downtown location and how close
  • Hwy : Is easy access to highway important to you
  • Subway: Walking distance to subway makes life not only easy for you but also for your visitors
  • Church / Temple / Mosque : If regular periodic visits to religious places are important. Some condominiums offer separate elevators for Sabbath for Jewish residents.
  • Entertainment District : Does your life style involves spending a lot of time in the entertainment district and other such activities.

Define The View:

  • City view
  • Water view: is in lot of demand; units with a water view come with a high price tag.
  • Park view
  • Exposure- South/North/East/West : Each view offers its own desirable living feature, south and west are brighter and with more sun than the North and East. East exposure does give you morning sun when you are at home.


  • Lower Floor
  • Higher Floor
  • Easy Access By Walking Up Or Down
  • Ground Floor


  • Family
  • Adult

Investment Considerations

  • Rental Demand
  • Rental Rates
  • Ease Of Renting
  • Condo Rules On Renting
  • Furnished / Unfurnished
  • Mix Of Owners And Tenants In The Complex
  • Control Of Utility Expenses
  • Availability Of Additional Parking Space
  • Availability Of Additional Locker Space
  • Easy Access By Transit

Freehold Purchase Tips:

Condo Purchase Tips

Many of the issues pointed out in the condo purchase are also applicable to the purchase of a house, though few issues such as recreational facilities in the condo complex, the floor height of the unit, the exposure are specific to the condominiums only. Many guidelines given below also take into account the investment criteria of the purchase

If you are a growing family and have children or plan to have children, then you should look for a home in the area and street with young families, schools and other facilities in the immediate area that are important to families.

In most areas, houses come in different price ranges. Buying a least expensive home in an expensive area is a good investment acumen. Also an over improved property vis-a-vis other properties in the area may not get the investment back when the property is sold.

Least percentage of houses in the market are two bedrooms and most popular is a 4 bedroom house. In the last fifty years, very few 2 bedroom houses have been built. Most of the 2 bedroom houses were built after the second world war and in the early fifty 's. Sixty's saw the popularity of 3 bedrooms but from seventy's onward more 4 bedroom houses have been built than any other size.

Larger homes have more than two washrooms and it is recommended that any house that is larger than a 3 bedroom house should have at least 3 washrooms. The most desirable feature of a house is to have at least one washroom for every bedroom and a powder room on the main floor for the visitors.

Family Room:
More and more house buyers are asking for a Family room in the house. Any house that is larger than 1600 square feet should have a family room and a fireplace. Large homes that have no fireplace could be ignored by prospective buyers.

Harwood floor is in vogue and a desirable feature. At one time, builders gave buyers an option to choose between Broadloom and Hardwood floors, but now there is a hefty premium for getting hardwood floors . Engineered woods and laminate floors have also become popular but are less preferred options. Hardwood plank floors seem to carry the most premium in the marketplace.

Most of the suburban houses have garages but that is not the case in the major cities like Toronto. A garage is very convenient and adds to the value of the house. If you can't get a garage, try to buy a house that offers at least parking facilities on the property or on the street. Salability is negatively affected if there are no parking facilities. A house that is above the average price in the area should have at least two car garage.

Exposure is very important issue with a house. You need to decide which part of the house you want to have sun. A house facing East will have the morning sun and house facing west will get more sun in the afternoon. If you like to work in the back yard and plant flowers, vegetables and fruits, you will need sun in the backyard.

Most of the houses in Ontario come with a basement. Some older homes have only a crawl space. A full finished basement will give you additional living space and a basement with a separate entrance, a kitchen and a washroom will offer you an option, zoning permitting, to rent it out. Finished basements with rentable potential are in great demand and demand a premium in the market. Homes with unfinished basements are obviously less expensive and offer you the opportunity to buy a specific house for less money and finish the basement to your taste, if and when you need it.

Swimming Pool:
Swimming pools are very desirable feature in Florida but not in Ontario. It takes a longer time to buy or sell a property with a pool and it is unlikely that the full expense incurred to have a pool on the property is ever recovered. But if on a street the majority of properties have a pool, not having a pool will be disadvantageous. Many young families avoid homes with pools for safety considerations. Do your own investigation prior to your purchase.

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