Creating a budget before you buy a condo or house is crucial to keeping your financial house in order.
You don’t want to get yourself into a situation where you are ‘house poor’ and not able to enjoy your new home.
You’ll want to consider every expense that you currently incur monthly to see where you spend your money now and then work out where you might be able to save money and cash flow in the future.
Remember, it’s only human nature to downplay how much things cost, but resist the impulse.
Be realistic about what you spend daily, weekly and monthly, because if the final figure is underestimated, you could find yourself in a financial bind once the home mortgage payments, realty taxes, utility and maintenance costs are all a reality.
It’s important to structure your monthly expenses so that you can still afford some simple luxuries, occasional vacation time and still have money available for unexpected expenses when they occur.
Go to Budget.LivingInToronto.com and download our spreadsheet and work out what your personal budget numbers are.
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Here are 5 proven ways to move safely and smartly towards your real estate buying goal...
- Download a free copy of my Ultimate Home Buyer’s Guide book
- Get a custom listings search set up for you and receive targeted listings daily
We can set up your HOMEWatch search for any area you choose (not just downtown Toronto), and you'll get immediate access to homes within minutes of them being listed. Just leave some search criteria here
- Set up a step-by-step plan with the best ways to get to your home buying goal
Our first-time and move-up buyers have told us that being able to meet with us on a casual basis as early in the process as possible, even if their purchase date was 6-12 months away, really worked the best for them.
To arrange your no-obligation Starbucks Strategy Session, click here.
- Join us for a Market Experience Tour - pick your favourite neighbourhoods and price range
The Market Experience Tour is a great way for you to figure out which neighbourhoods and condo buildings are right for you, and you’ll also get a good sense of what’s available in your price range.
Pick the date and time you like to go on your Tour.
- Don’t start your home buying experience on the wrong foot - Meet for a Buyer Consultation first!!
Don’t make the same mistake. Let’s set a time to meet and go over how the complete home buying process works, find out what your likes and dislikes are and what pitfalls you’ll want to avoid, before you seriously start looking for a house or condominium.
This is the best 90 minutes of time you’ll ever spend - set up your private Buyer Consultation.