InCom Demo Demo Office
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10 Step Guide to Buying Your Home
10 Steps to Buying a Home with Incom Office Example
Whether you’re a first-time buyer or looking for your next dream home, the process can feel overwhelming — but it doesn’t have to be. Incom Office Example is here to guide you every step of the way.
Step 1: Is Buying the Right Move?
Choosing to buy a home is a big decision. To help you weigh your options, here are some key questions to consider when deciding between buying and renting.
How does buying build equity?
Each mortgage payment increases your ownership in the property. Rent, on the other hand, goes toward your landlord’s equity.
What are the upfront costs?
Buying requires a down payment, plus closing costs like legal fees, inspections, and land transfer tax. Renting typically involves a security deposit and the first month’s rent, making it cheaper upfront.
Who takes care of maintenance and repairs?
Homeowners are responsible for repairs and upkeep. Renters rely on their landlords for maintenance and property issues.
How does each option affect financial risk and stability?
Owning means long-term stability and control over your space, but it comes with market and interest rate risks. Renting offers flexibility and fewer financial responsibilities, but less control over future housing expenses.
If buying feels like the right step for you, let’s move forward.
At InCom Demo Demo Office we uphold an ongoing commitment to providing an elevated level of personal service. Our clients come first, and as a result, they are able to achieve more than they ever dreamed with their real estate investment.
Because we expect more from our associates, you can expect more from us when it comes to the important sale or purchase of your property. When it comes to your next move, we want you to experience the difference exceptional real estate service can make.
Contact us today, for free real estate advice, to find your nearest sales associate or to find your dream home!
Step 2: Know Your Budget
Knowing how much you can afford is key to a confident home search. Be sure to plan for both one-time costs and ongoing expenses.
Estimate Your Homeownership Costs
Home Price
$700,000
Upfront Costs
Down Payment $140,000
Closing Costs $155,175
Monthly Recurring Costs
Mortgage Payment $3,029
Property Taxes $583
Home Insurance $58
Note: Cost breakdowns are estimates based on averages for first-time home buyers in Ontario and should be used for reference only. Actual costs will vary by individual situation.
Most lenders use two main affordability guidelines:
Gross Debt Service (GDS):
Housing costs (e.g., mortgage, taxes, heating, and 50% of condo fees) should not exceed 39% of your gross household income.
Total Debt Service (TDS):
Housing costs plus debt payments (e.g., car loans, credit cards, and student loans) should not exceed 44% of your gross household income.
Get pre-approved for a mortgage to lock in your rate for up to 130 days and show sellers you're a serious buyer.
Not sure what your budget looks like? Use our Mortgage Calculators to find out.
Step 3: Set Your Home Search Criteria
Before diving into listings, take time to define what’s important to you.This keeps your search focused and aligned with your needs.
Things to consider:
Location
Is the neighborhood safe, convenient, and aligned with your lifestyle?
Size
How much space do you need now, and what about your future plans?
Condition
Are you open to a fixer-upper with potential, or do you prefer a move-in-ready home?
Type of property
Are you looking for a detached home, a condo, or a townhouse? Each has pros, cons, and cost considerations
Already have a neighbourhood in mind?
Sign up for our Neighborhood Buzzer to get updates as soon as new listings hit the market.
TESTIMONIALS
ererer
ererI can’t praise Jashmine enough! Finding trustworthy tenants for my townhouse was seamless with her. She’s professional, friendly, and quick to respond, with deep market insight. Jennifer explained leasing clearly, always prioritizing my needs. She’s exceptional, going the extra mile – I’d happily work with her again!
Anamika SinghWith the market being as tough as it is, I felt really well taken care of. Jashmine was practical, honest and always there when I had questions. The level of care and attention to detail was seriously impressive. We’re so grateful for everything you did, it made a big difference.
Sukhman GillThis wasn’t my first time selling a home, but it was the first time I felt like I had someone who really knew their stuff. Lisa walked me through her strategy step by step and made the whole process feel less overwhelming. She was always available, super patient, and really made me feel like a priority. On top of that, She’s just a genuinely great person to work with, professional, easy to talk to and clearly committed to getting results.
Melissa WatsonBuying a home can be overwhelming, but Lisa made the process smooth and stress-free. She was extremely knowledgeable, always available for questions, and truly understood what I was looking for. Thanks to her expertise, I found a home I absolutely love! I’m so grateful for her help and would recommend her to anyone looking to buy or sell.
Sophina SmithAlice really brought something special to our home search. She found us this amazing loft that fit both our budget and style perfectly. Her advice was always spot-on, and she worked so hard to make the whole buying process feel smooth and stress-free. Honestly, we couldn’t have asked for a better agent.
Thomas SmithAlice totally got what we were looking for. We wanted a fun neighbourhood with good nightlife and easy access to transit, and she found us the perfect place. She really knew the area and gave us great advice along the way. The whole process felt surprisingly easy thanks to her, and we’re so happy with how everything turned out.
Lucas GrahmI had a wonderful experience selling my home with Demo. She provided excellent advice and a clear strategy and was always available to guide me through the process. Thanks to her effort, my home sold quickly and at a great price. If you're looking for a realtor who is experienced, reliable, and results-driven, look no further than Demo.
Ava HarrisThis wasn’t my first time selling a home, but it was the first time I felt like I had someone who really knew their stuff. Demo walked me through her strategy step by step and made the whole process feel less overwhelming. She was always available, super patient, and really made me feel like a priority. On top of that, she’s just a genuinely great person to work with, professional, easy to talk to and clearly committed to getting results.
Ethan Clark
Step 4: Work with the Right Realtor®
In Canada, REALTORS® are licensed professionals who must follow a strict Code of Ethics. Choosing the right one can make or break your home buying experience. Stick with one REALTOR® who understands your goal and preferences.
See what clients are saying about working with Incom Office Example;, or connect with an expert to start your journey.
Step 5: Begin Your Search
Now for the fun part - house hunting!
With your criteria and budget in place, agents at Incom Office Example will set up personalized alerts directly from the MLS® so you’re the first to know when a suitable property hits the market.
You can also explore Incom Office Example’s featured listings to get a feel for what’s available.
Open houses and scheduled private showings are a great way to see homes up close and evaluate homes beyond surface features. Don’t hesitate to ask questions about maintenance, renovations, or the neighborhood during your visits.
Step 6: Find a Real Estate Lawyer
A trusted real estate lawyer protects your legal and financialinterests throughout the transaction. Start by asking friends, family, or a Incom Office Example agent for recommendations.
While your lawyer handles the legal side, don’t miss opportunities on the market.
Here’s how your lawyer helps:
Review the Agreement
Ensure all terms in the Agreement of Purchase and Sale are accurate
Run a Title Search
Confirm there are no liens, unpaid taxes, or legal claims against the property
Handle Closing Costs
Calculate and pay land transfer taxes, title insurance, and prepare legal documents
Register the Property
Transfer ownership and register the property in your name with the provincial land registry
Coordinate Mortgage Funds
Work with your lender to transfer mortgage funds to the seller on closing day
Step 7: Make an Offer
Found the one? The team at Incom Office Example will help you craft an offer that aligns with your needs and stands out to the seller.
What’s in an Offer?
- Purchase Price
- Deposit (often 5% of the price, held in trust)
- Conditions (typically home inspection, financing, and sometimes a sale of your current home)
- Inclusions (items to remain in the home e.g., appliances, blinds, fixtures)
- Closing Date and Irrevocable Period
Types of Offers
- Firm Offer: This means you’re ready to buy the home as-is, with no conditions; be sure everything checks out before going this route.
- Conditional Offer: It includes specific conditions that must be met before the deal becomes binding.
The seller may accept, reject, or send a counteroffer. Don’t worry — Agents at Incom Office Example will negotiate the best terms on your behalf.
Step 8: Get a Home Inspection
Even if a home looks great on the surface, an inspection can uncover hidden issues that could cost thousands to fix later.
Tips
Attend the inspection if possible. it’s a great opportunity to ask questions, learn about the home’s condition, and pick up useful maintenance tips.
If the home doesn’t pass or you decide to keep looking, stay in the loop with our Just Listed alert. It’ll help you spot your perfect home the moment it’s available.
Step 9: Finalize Your Mortgage
Your offer has been accepted — congrats! Now it’s time to lock in your financing.
You’ll need to:
1
Agreement
Submit your signed Agreement of Purchase and Sale
2
Financial Documents
Provide your financial documents such as proof of income, tax returns, bank statements, and a void cheque
3
Mortgage Terms
Review and confirm your final mortgage terms, including the loan amount, interest rate, and amortization period
Tips
Between now and closing, avoid major financial changes like taking on new debt, changing jobs, or making large purchases. These can put your mortgage approval at risk.
Hold off on big financial decisions, but keep your home search moving. Set up a PRICE DROP alert to catch any deals that come up.
Step 10: Closing the Deal & Moving In
You’re almost home! As closing day approaches, your legal and financial team will handle the final paperwork.
Before closing, make sure you have:
- Mortgage approval and insurance
- Finalized legal documents and title transfer
- Fund ready for closing costs (typically 1.5% - 4% of the purchase price)
- Utility and services set up
Once everything is signed and processed, you'll get the keys and can officially move in. Schedule a final walk-through, book movers, and celebrate this exciting milestone!
Let's Talk!
Have questions or just curious about the process? The team at '.$office_name.' would love to chat and help you figure out your next step.