Did you know 1 in 4 buyers is a single woman?
How amazing is that statistic? Thinking of buying a house on your own can be a daunting thought, but I’m here to make it a simple and enjoyable process. I’m here to help and guide you!
Let’s chat about what worries woman the most.
- Fear of branching out on your own.
- Fear of being solely responsible for paying bills.
- Fear of the unknown.
- Fear of making a mistake.
- Fear of making a bad choice.
Pheuf, that’s a lot to be afraid of! But let me tell you, you don’t have to be afraid. I’m here to help you make an informed decision. I’m here to help you decipher the data to make a great decision and a great investment.
Here are my top tips for getting your ducks in a row to help your first time be a great time!
- Speak to a mortgage broker. A mortgage broker has access to several lenders with various appetites in what they are looking for in a client. They will tell you where you stand and what you could do to improve your situation.
- Pay off that debt! The less debt you have, the more attractive you will be to a lender. That in turn may mean better terms in your mortgage for example: interest rates. Better interest rates mean more money in your pocket and that’s always a good thing!
Now it may be unreasonable for you to pay ALL your debt completely off, but if you make consistent, adequate payments (read not just the minimum payment) you can quickly make a dent in what you owe. Make it a priority and you can make it happen!
Focus on paying credit cards down while making your scheduled monthly payments (car payments and phone bills) on time every time!
- Sit down and make a budget. Take a good hard look at where you are spending your hard-earned money. If you can see where your cash is going, you can adjust and be conscious of how and where you are spending it. Keep in mind that a $5 coffee each workday translates into $100 per month and that $10 – $15 dollar a day lunch adds up quickly to $200 – $300 per month. Not to mention dinners and drinks out, trips to the movies, shopping and groceries.
- Be realistic in your expectations. We’ve all heard that saying Rome wasn’t built overnight and you may have to buy something a bit different than you expected to get your foot in the game! But with a keen eye for your own personal style, I’m sure you can make your first home a great home! Starting small will help you gain your independence without biting off more than you can chew!
- Make you a priority! Ahhh that’s the thing we always put to the side, isn’t it? If you really want to make a change in your life, PUT YOU FIRST! That doesn’t mean you can’t still care and do things for others, but it does mean that you have permission to say NO and think of your well being first!! No, you do not have to go to that new restaurant that is WAAAY too expensive. No, you don’t have to go your friend of a friend’s birthday party and buy an expensive gift. You do not have to do any of it, IF you don’t want to and it doesn’t help you attain your goal of home ownership faster. Or you can save and make it all work, it’s up to you!
- Mentally prepare! While I’m here to make things go smoothly, there will be inevitable bumps in the road. You may love a property and find out it’s above your budget. Or we may find a home, put in an offer and may be out bid in multiple offers. Buying a home is a VERY emotional process and we must be ready for comes at us!
- Narrow down your search! Saying you want to live in Toronto is great, but Toronto is huge, which area do you want to live in? Do you want to be near the water and trails in Mimico? The full-on city experience Downtown? The cool, trendy vibe of the Distillery District? The laid-back atmosphere of the Beach? Each of these areas come with distinct attributes and you must decide where you want to be!
- What matters to you? Do you want easy access to the subway for example or do you require parking? A pool? Do you require a building with additional accessibility features? These are just a few of the things to think about!
- Don’t be afraid! This is a great decision for you and amazing opportunity for you to invest in your future.
- Last but definitely not least is find a Realtor you can trust! You must feel comfortable with who you choose. Look for someone who puts your needs first and foremost and has the courage to have difficult conversations with you. Ultimately, being honest with each other from the get-go will make the whole experience a much better one!
Let’s book an appointment at my office to sit down and have an open and frank conversation about what your looking for and how I can help!
You’re going to love this experience!