Lets Find Your Perfect Home
Looking to buy a home? Let me guide you through every step of the process. From finding the right property to closing the deal, I'm here to ensure a smooth, straightforward experience as your real estate professional.
Buy With Kathleen Miller
MY PROCESS
When it's time to buy, you'll be ready.
Being prepared is key, and that’s exactly what I help you with. Whether you’re looking to buy a home now or later down the road, I’ll make sure you’re all set to make an offer with confidence when the right place comes along. Here’s how we’ll get you ready:
1
PREPARE FINANCES
When buying a home, spend 3-5 times your annual income and maintain a strong credit score by managing debts and avoiding new credit applications. Secure stable employment and save for a 5-20% down payment plus a 5% earnest deposit. Budget for closing costs, typically 1-4% of the purchase price, which include taxes, legal fees, and inspection charges.
2
GET PRE-APPROVED
Pre-approval for a mortgage is different than pre-qualification. It requires a detailed examination of your finances, including income statements, pay stubs, T-4s, assets, debts, credit reports, identification like a driver's license, and tax filings from the past two years. A credit check will also be conducted. Once granted, pre-approval usually remains valid for 90 days.
3
START SHOPPING FOR YOUR HOME
We will select homes within your budget that meet your needs and preferences. To help you remember each property, consider taking notes, photos, or videos. We will also take detailed notes and thoroughly inspect each home. Additionally, we will assess the neighborhood and surrounding areas, checking traffic and noise levels, and ensuring it's conveniently located near amenities like schools and shopping centers.
4
MAKE AN OFFER
Once we find the perfect house, it's important to act fast due to high demand. We'll assess recent sales and the home's condition to formulate a strong offer with a significant deposit and favorable terms. We'll also write a personal letter to the seller, explaining why you're the ideal buyer. After submitting the offer, the seller can accept, decline, or counter it, and I will guide you through each scenario.
5
ORDER AN INSPECTION
We will need to order a reputable home inspector ASAP. Once the inspection is complete, it can take up to 4 hours, your inspector will provide you with a vert thorough report. There can be little things in all resale homes, but if there are any red flags you can walk away or negotiate with the seller.
6
NEGOTIATE THE FINAL OFFER
If issues arise after the home inspection and they are major problems, we may need to re- negotiate the offer. We can ask for a credit to fix the problems, or ask the seller to repair them and provide certification it is complete. Keep in mind, “little things” that come up in inspections do not result in re-negotiating offers, but we can ask for a small credit to repair the “little things”.
7
APPRAISAL ORDERED
Your lender will arrange for a third-party appraiser to provide an independent estimate of the home value you are buying. The loan file then moves to the mortgage underwriter. If approved you will receive your final commitment letter that includes the final loan terms and percentage rates. You will also need home insurance, and a Title Search to ensure the seller truly owns the property and there are no liens against the house. Your lawyer will do the Title Search for you.
8
FINALIZE TRANSACTION AND MOVE IN!
After signing, finalize your mortgage, inspection, home insurance, lawyers appointments. Next get your current home ready to move out. Get quotes for movers, give 60 days notice to landlords, utility companies, change your mailing address, and pack, pack, pack. 1 week before move, obtain certified cheque for closing, schedule a final walk through the house, arrange to sign all lawyers documents, lawyers will also give you instructions on how to obtain the keys on closing.
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Testimonials
Leading with Client Satisfaction
Kaitlyn
Barrie, Ontario
"As first time home buyers, we were completely unfamiliar with the process of buying a home. Our agent, Kathleen Miller, walked us through every step of the way with professionalism, competence and patience with all of our questions and anxieties. She went above and beyond..."
Elizabeth
Toronto, Ontario
"Kathleen Miller was amazing in helping me buy my condo in Toronto. She really knows the market and negotiatiated a fantastic deal. Kathleen was always there to answer my questions and made the whole process feel smooth and stress-free. I couldn’t be happier!"
For Buyers
FAQs
How much should I save for a down payment?+
The amount varies depending on the property price and your financial situation, but typically, you should aim to save at least 5% to 20% of the purchase price for a down payment. Keep in mind that higher down payments can reduce your mortgage payments and may eliminate the need for mortgage insurance.
How much can I afford?+
To determine how much you can afford, consider your gross income, existing debts, and other financial obligations. A general rule of thumb is that your monthly home payment should not exceed 32% of your gross monthly income, and your total debt load should not be more than 40% of your gross income.
What is land transfer tax and how much does it cost?+
Land transfer taxes are charged by local governments on the change of ownership of property. The amount varies by location and sometimes the price of the property. In Ontario, for example, the tax rate ranges from 0.5% to 2.5% of the property’s value, depending on the purchase price.
Is it true, realtors are free when buying a home?+
Yes, typically the buyer does not directly pay the realtor; the seller pays the commission to both the buyer's and seller's agents. It’s important to understand that this cost is generally included in the sale price of the home.
Do I need a good credit score for a mortgage?+
To qualify for a mortgage, you’ll need to provide proof of income, employment, assets, and debts, and yes, a good credit score helps. A higher credit score may qualify you for better mortgage rates and terms.
How do I know if a property is priced fairly?+
Your real estate agent can help you determine this by comparing the property with similar homes in the area that have recently sold, often referred to as ‘’comparables’’ or "comps." This analysis can help ensure you are paying a fair price.
Should I get pre-approved for a mortgage?+
Pre-approval helps you understand how much you can borrow before you start house hunting, making you a more attractive buyer. It can also speed up the closing process since much of the financial paperwork is already in place.
Are there any government programs to help first-time home buyers?+
Yes, there are several programs available to help first-time home buyers, including tax rebates, the Home Buyers' Plan (which allows you to withdraw funds from your RRSPs tax-free to purchase or build a home), First Home Saving Account FHSA, and various grants or rebates depending on your location and price point.
Start Your Real Estate Journey with Kathleen
Let's make your dream home a reality
I just want to have a conversation about your goals. So if you're thinking about buying or selling in York Region or the surrounding area, find out if I'm the right fit for you.
Get in Touch