Six simple steps to successfully purchase your new home
It’s important to be well prepared when the time comes to find and purchase your new home.  These six simple steps will help you to quickly find the home you want, with the location and price you want, and to complete the process successfully. 

Step 1: Define What You Want
To find the home that best suits you, start by creating a prioritized list of the features you want, and the reasons why. Use this as your search guide, but remember that, depending on your funding, you will probably need to make some compromises. In addition, talk to your real estate professional about where you want to live. Location is a huge part of any move. Century 21 Classic’s Local Experts are trained to help you narrow down your choices by sharing market trends and detailed local information.

Step 2: Figuring Out What You Can Afford
Now that you know what you want, it's time to see what you can afford. You can start by crunching the numbers yourself using Century 21 Classic’s convenient home mortgage calculator. Click here ».

The next step is to get pre-approved for a mortgage. This process can often be performed in under an hour, and it accomplishes two important goals. First, it will tell you what you can afford, and what your monthly payments would be. Second, it tells the seller that you can afford to buy their home. Your Century 21 Classic agent can help by introducing you to qualified third party mortgage brokers.

By definition, a pre-approved buyer has an approved mortgage subject to an appraisal of the property. Many times, a buyer can use this pre-approved status as leverage during the negotiation process.

Step 3: Shopping For Homes
Once you know where you'd like to live, and what you can afford, it’s time to start checking out actual properties. You can save time by beginning your search online and targeting homes that meet your search criteria. Century 21 Classic’s ‘Match Maker' can even e-mail you when properties that meet your search criteria come on the market.

Once you have a list of properties, it’s time to visit these homes in person. Ask your real estate agent to arrange visits and attend open houses that are in your target area and price range. When comparing homes, make sure to look at all aspects of the potential properties.  Are the property taxes approximately the same? Are the houses renovated? Do they have the same amount of bedrooms and bathrooms? Are houses located on the same or similar streets? Do the houses have any burdens or issues that must be resolved? Use our Buyers Checklist to help make sure you do not miss anything.

Remember to keep an open mind when you are looking at homes. Use the Century 21 virtual home planner to help you imagine what the house could become with you as the new owner.

Step 4: Making An Offer
Once you find the home you want, it’s time make an offer. Typically, this is a very difficult and trying time, since both parties have totally different goals. In most cases it is better to employ a third party, such as a real estate professional, to negotiate the offer. If you have any personal interaction with the homeowner, don't give out any information about your move, your current housing status, financial status or your feelings about his or her property - positive or negative. This could hurt you in future negotiations.

Step 5: Inspection & Insurance
After your offer is accepted, you will need to set up a complete building inspection and arrange for homeowners insurance and finalize the mortgage.

This is a major step in the buying process, and there are many potential problems that can be discovered during this period. These could include a leaky roof, radon gas, termite damage, a foundation or plumbing problem, and wall cracks. These problems can happen all too often. The difference between closing on your dream home and starting the process all over again can be occurs during the negotiations between you and the seller after the building inspection.

Your Century 21 Classic Local Expert can help make these discussions go more smoothly.  You will also have the option of a "walk-through" before the closing. This is your last chance to make sure that all of the items that you have agreed upon in your offer to purchase were completed to your satisfaction.

Step 6: The Final Closing
Before you arrive at the closing, make sure all the necessary paper work and deposits have been completed. If the mortgage, title work, homeowners insurance and other items necessary under local and provincial laws are not completed and brought to the closing table, the closing may not happen on time.  Depending on what the contract says, this could result in further action, including financial penalties and even the loss of your rights to the home.

Once you close, it's official - you own the house! But there might be a few things you want to do before you lay out the welcome mat. These include arranging for an alarm system, turning on the electricity, subscribing to the local paper, cleaning or replacing the carpet, and arranging for lawn services. This could also be a good time to start some renovations.

Look to your Century 21 Classic Local Expert for guidance and information about many money-saving offers available exclusively to Century 21 customers.

Need more information? Download the Century 21 Classic Buyers Guide now »