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Ready to Buy a Home?

Posted by Milana Cizmar on November 10, 2015

If you are looking to buy a home, let’s get your your Financial Ducks in a Row.

Here are my recommendations for getting ready to buy your dream home:


Besides getting a pre-approval which I highly recommend BEFORE you even step out the door to look at any houses. It is important to figure out how much money you are going to put down as your down payment when purchasing your home AND how much of that you will allocate for a deposit.

When you put in an offer on a property, it is expected that a deposit will accompany your offer or be available within 24hrs after it has been accepted. Is your money that readily available?

I find a lot of the time, my clients have some money tied up in a GIC or RRSP that they will be using towards their down payment as well as their deposit. It is a good idea to move that money out of those accounts NOW before house shopping, because it can take up to 2 days to transfer to your bank account. You will not be ready to put in an offer on ANY property that suits your needs if you don’t, and you could end up losing out on the house that could be the right fit for you!

This is a fast paced market and you want to be able to present your offer and get to the negotiating table fast.  This small tip can mean the difference between getting the house you want at the right price or losing it to another buyer who has their finances all sorted out!

BONUS TIP: Did you know your pre-approval may no longer be valid if you get a new job, new car loan or even co-sign a loan for someone? This is because your Financial Situation has changed from when you originally applied for your pre-approval.  You may no longer qualify for the price of the house you have in mind and be greatly disappointed when your financing has been turned down AFTER negotiating an offer!

My Best AdviceWait until after you’ve moved into your new home and have made a few mortgage payments BEFORE you make any change that can affect your overall financial situation. Want even more great advice to build upon?


Take advantage of My Complimentary 30 Minute Wealth Building Strategy Session. I can answer your most pressing questions about Buying a Home in Today’s Market and get you excited about beginning your own Personal Wealth Journey!

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