Buyers-Home Buyer’s Guide – Assess before you decide to buy

You’ve decided to buy a new home! Congratulations! Before you even go looking for a home, create a clear picture of what you want, it’s useful to make a written analysis of your needs.

Why are you looking for a new home? What is your desired location? Are there other locations you would consider? Are you looking for a lot of bedrooms and washrooms for your family? Do you want a pool in the backyard? Do you want to live close to a school or a mall? What time frame for buying your home? These are just some of the things you have to consider before start looking for a new home. You also have to familiarize yourself with different types of ownership as well to help narrow down the perfect home. Freehold is when it’s all yours, a condo is when you take care of the inside and pay your fees to condominium association.

Create a list of qualities you want in your dream home and a list of qualities that focuses on only your primarily needs. This will help you differentiate what you “want” vs. what you “need.”

After completing your lists share them with your Real Estate Agent. Your Agent is a trained professional who can help focus your wants and needs and decide how best to achieve them.

Once you have narrowed down some qualities, its time to go looking for a home!


When you have narrowed down what features you want in your new home, it’s time to calculate how much you can afford. Although you can do the basic research online using the WEB, just visit a mortgage company or mortgage broker. A mortgage company will:

  • Help you determine how much you can afford,
  • Inform you with up to date mortgage rates,
  • Arrange CMHC financial insurance,
  • Explain closing costs, down payment options, etc.,
  • Explain the difference between being pre-qualified and pre-approved,
  • Help you pre-qualify or pre-approve for a mortgage
  • Explain the difference between a mortgage and a loan etc.

Finding your Dream Home

There are many ways of finding that dream home! First, know the neighborhood and the type of home in which you want to live.

If you are new to Ottawa you will want to start your search by finding neighborhoods that meet your criteria and then narrowing your search to specific homes.
The things you can do to narrow your search are:

Contacting a local Real Estate Agent who is up to date on available properties that meet your criteria and who will arrange for you to visit homes and open houses.

  • Checking newspaper listings and websites
  • Contacting local Neighbourhood Associations or District School Boards
  • Touring neighbourhoods that meet your criteria


  • You’ve toured various properties and found the house you want! It’s time to make an offer. Your offer is based on numerous criteria including:
  • What you are willing to pay and what the seller is willing to accept.
  • Recent sales of homes in the community similar in size, quality.
  • Conveniences and special needs the home and neighbourhood provide.
  • In writing an offer, it is best to retain an expert Real Estate Agent. When you choose Vijay Homes Real Estate. I will:
  • Answer any questions or concerns you have regarding the property.
  • Explain legal procedures, terms and the contract process etc.
  • Save you time and money by ensuring that your contract meets legal requirements according to local and provincial guidelines.
  • Advise you on how to create an offer that will have the best chance of acceptance.
  • Protect your financial position by including needed contingencies.
  • Present the offer to the seller or the seller’s agent.

The offer should include legal description of the property, the parties involved, the offering price, a deposit, the down payment, an expiry time for the offer etc. Not all offers are the same and here’s where your real estate agent comes in. They will help you with specific terms and conditions that will be specified in the offer like the price you want to pay, financing conditions, or other inclusions and exclusions.

Not only is it about the price of the house but you have to carefully look at the other details included in this sale. Fixtures, chattels, or even minor renovations can also be part of the deal. Shorter or longer closing dates can also be specified in the offer.

If there is something in the offer that doesn’t satisfy the seller, counter offers or negotiations can also be presented to help get a price which is mutually agreed.

NEGOTIATING TO BUY: Successful negotiating is based on the premise that in the end both the buyer and seller will be satisfied. Once your offer has been made there may be areas open to negotiation. At this point your experienced Real Estate Agent can protect your interests ensuring that you get the best terms and price. Some areas that may be open to negotiation are Price,Financing,Closing costs,Necessary repairs resulting from the house inspection, Financing arrangements with institutions or through the seller, Adequate time for your solicitor’s search, Appliances, fixtures, and other concerns to be properly documented in the contract, Closing date

Closing: Closing is the legal transfer of Real Estate from one person to another. During a closing, which is held at the lawyer’s office, numerous legal documents are signed and the collection and disbursement of funds occurs. Your Agent will be available to handle any questions or resolve any issues that may arise. There will be closing costs associated with the sale that need to be paid either by or on the closing date. It can include mortgage application fees, inspections, and legal fees.

After closing, the property is yours! You’re all ready to move in!

Post Closing: Congratulations! Now the house is yours and with closing comes a list of companies you need to contact. Before closing, your Agent will anticipate the need to communicate with numerous groups, including the:
Ottawa Hydro

  • Telephone company
  • Cable company – Rogers or Bell
  • City of Ottawa – Water/ Sewer
  • Gas and or oil companies
  • Security companies


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