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Buying a home
Buying a home
The ins and outs of buying a home (your first home or your next one)
21 articles in this collection
Written by
Andrew Sikomas
Home-buying process overview
What happens in what order? How does this work?
Written by
Andrew Sikomas
Updated over a week ago
Finding the right home without blowing your budget
Responsible home ownership includes knowing what you can comfortably afford, setting a budget, and buying within it.
Written by
Andrew Sikomas
Updated over a week ago
Pre-approval
Thinking of buying a property, but don’t know where to start? Well… that’s where a mortgage pre-approval comes in. Start here.
Written by
Andrew Sikomas
Updated over a week ago
Purchase + improvements
Include renovations in your mortgage - here's how!
Written by
Andrew Sikomas
Updated over a week ago
Mortgage approval
Getting your mortgage approval in place is one of the most important elements of purchasing a home.
Written by
Andrew Sikomas
Updated over a week ago
Qualifying and affordability
Qualifying to buy a home - the 40,000 foot view
A general overview of buying a home and what gets looked at to qualify.
Written by
Andrew Sikomas
Updated over a week ago
Mortgage affordability and qualifying
Home buyers need to understand the maximum mortgage they qualify for and how that impacts the price they are able to pay for a home
Written by
Andrew Sikomas
Updated over a week ago
Down payment
The down payment is the amount of money that you put forward when you buy a home.
Written by
Andrew Sikomas
Updated over a week ago
Debt servicing ratios
An explanation of the magical numbers that guide mortgage qualification
Written by
Andrew Sikomas
Updated over a week ago
Closing costs and other expenses
Closing costs
How much does it cost to close a home purchase?
Written by
Andrew Sikomas
Updated over a week ago
Home inspection
Just do it.
Written by
Andrew Sikomas
Updated over a week ago
Deposit with offer vs down dayments
There’s a lot of confusion around the differences between the deposit and the down payment.
Written by
Andrew Sikomas
Updated over a week ago
Default insurance (CMHC insurance)
Default insurance is expensive but useful (and often required!)
Written by
Andrew Sikomas
Updated over a week ago
Appraisal
There is a value determination on every single mortgage transaction always
Written by
Andrew Sikomas
Updated over a week ago
Lawyer
Nope, not a punchline - lawyers are a key part of mortgage transactions
Written by
Andrew Sikomas
Updated over a week ago
Title insurance
A necessary transaction cost which protects against title issues
Written by
Andrew Sikomas
Updated over a week ago
Condo fees
Your monthly contribution to maintaining and insuring shared property
Written by
Andrew Sikomas
Updated over a week ago
Property taxes
If you own property, you pay property taxes.
Written by
Andrew Sikomas
Updated over a week ago
Statement of adjustments and trust ledger statement
These statements show all the money and where it all goes
Written by
Andrew Sikomas
Updated over a week ago
Interest adjustment date and amount
If there's less than a full payment period between closing day and your first payment date, there will be an interest adjustment payment
Written by
Andrew Sikomas
Updated over a week ago
Other monthly expenses to think about
Besides the mortgage payment, there are other costs you will encounter that should be considered.
Written by
Andrew Sikomas
Updated over a week ago