What Are the First Steps in Buying a House?

Buying a home is very exciting, and there are certain steps in the home buying process you should know. Certainli Realty can help you bury a home in London, Ontario. Learn more below about the home buying process, and contact us today!


Save for a Down Payment

The first step in buying a house is to save for a down payment. The down payment is the chunk of money that you’ll need to put down upfront in order to purchase the home. The amount that you’ll need to save will depend on the price of the home and the type of mortgage that you qualify for, but it’s typically around 10-20% of the purchase price.

Get Pre-Approved for a Mortgage

Once you have your down payment saved, the next step is to get pre-approved for a mortgage. This involves meeting with a lender and providing them with information about your financial situation, income, debts, and credit history. They’ll then tell you how much they’re willing to lend you and at what interest rate.

Start Looking for Homes to Buy in London

With your mortgage pre-approval in hand, you can start shopping for homes within your budget. When you find a home that you want to make an offer on, your real estate agent will help you negotiate with the seller and draw up a purchase contract.

Get  a Home Inspection

Once the purchase contract is signed, the next step is to get a home inspection. This is an important step to make sure that the home is in good condition and doesn’t have any major problems that could end up costing you a lot of money down the road.

After the home inspection, the next step is to apply for your mortgage and close on the loan. This process can take a few weeks, but once everything is finalized you’ll be the proud owner of a new home! Certainli Realty is there to ensure your home buying process in London goes smoothly. Get in touch today!

 Contact Us Today