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