The Ultimate Home Buying Guide

Presented by KF Team


Tel: 647-470-1048




Welcome Home to Your Dream Home!

A home is not just a well built edifice, constructed to withstand time and the elements. Sure, it can demonstrate distinctive architecture, attractive landscaping, and unique accents, all of which are critical to its value. It can be bought, sold, rented, remodeled, and refurbished.

But it is people who turn a house into a home. A home is a feeling, a sense of belonging, a place of deep roots. It is a foundation upon which we raise a loving family and build relationships. A home is a true expression of ourselves.

That’s why the process of buying a home can be emotional and naturally, complex and challenging all at once. And so when the time comes for you to make this important transition, you want real estate professionals who understand their true value, have intimate knowledge of neighborhoods, negotiate in your best interests and care about you, ?rst and foremost.

As your trusted realtors, our goal is to ?rst and foremost earn your trust, ease you through the process, guide you every step of the way and be a good friend all throughout the process.

Our proven industry expertise will allow us to understand your needs, be your advocate and assure that you achieve your goals.

Welcome home and we look forward to working with you.

YOU First” is a bold promise we make to each of our clients. By committing to always put your interestst, walk the extra mile, and exceed expectations, “YOU First” is our road map to achieve total excellence on the journey to help you reach your destination.



Reasons to own Real Estate

Put Your Dollars to Work for You…

  1. Equity


This guide includes:




Deciding Where and What to Buy

Congratulations on taking this first step towards home ownership! Buying a home is a huge accomplishment and we are extremely proud of you! This is truly an exciting time and it would be our pleasure to guide you through every step of the way.

The first step in buying a home is deciding your wants and needs. You should consider various factors such as the location you want to live in and the features you would like in your home.

Some questions you should ask yourself:





Consult with a Mortgage Advisor

Whether you choose a mortgage broker or a mortgage specialist with a bank/financial institution, we recommend booking a meeting early on in the home buying process. Meeting with a mortgage broker/specialist is crucial as it will provide insight into your financial position. This can help ensure that your search qualifications align with your financial needs.

A mortgage broker represents various financial institutions. They shop around at multiple banks/financial institutions to seek the best deal. Alternatively, a mortgage specialist with a bank/financial institution works directly for that bank/financial institution. They have access to great deals that their bank/ financial institution has to offer.

Understanding Mortgage Options

During your meeting with a mortgage specialist, you will not only discuss your finances but also details regarding the mortgage options available in today’s market.

Take the time to think about:

Your mortgage specialist may also detail money saving options and strategies like portable mortgages, how to pay the mortgage down quicker and how to avoid reapplying if the mortgage expires.


What are the Different Types of Mortgages?

 1. Closed Mortgages

4. What are the Different Types of Interest Rates?

     1. Fixed Rate Mortgages


Consider Bridge Financing

Bridge loans are short-term loans that bridge the gap between two different closing dates. These are more commonly used when an existing homeowner sells their home, and then buys another home, with two different closing dates.

Closing both homes on the same day can be very stressful and costly, particularly if your closing times don’t line up properly or if your lawyer can’t accommodate the close on that day.

Recently, bridge loans have also become a very popular way to take possession of a new home a couple of days or weeks in advance to allow for renovations. Bridge financing can be used to relieve stress so that the purchase of a new home is a pleasurable one. We recommend you speak to your mortgage broker/financial institution to get more information.


What Can You Afford?

Your mortgage professional is there to help you discover the maximum house price you can afford. The most important factors considered are your income, down payment, mortgage interest rate and your monthly payments.

Get a Mortgage Pre-Approval

Being a pre-approved buyer has many advantages:


Becoming a Knowledgeable Buyer

Educated buyers are able to make informed decisions creating a stress free and enjoyable home buying process. With that in mind, our exclusive Home Buyer Service Program will empower you with key market information and every possible advantage to ensure you become a knowledgeable buyer.

Here’s what you can expect from us when you enroll in our program:


Be Informed Every step of the Way

  1. We will not bombard your email with information that is not relevant to you. We will provide daily update emails on all the homes that are new to the market or have had a recent price change. This will match a broadened scope of what you are looking for.
  2. As market area specialists with a pulse on local and national real estate market trends and changes, we also ensure you are kept informed of all relevant industry changes that may impact your buying decision including price trends and mortgage rates.
  3. We personally inspect all the potential properties in the area and take in several listings ourselves. The hot new listing information is passed on to my clients first.
  4. You get all the information about every property - that, as realtors, only we have access to.
  5. When you find a home that peaks your interest, simply contact us and we will arrange a convenient time to view.


Remember, when selecting homes to view…


Making an Educated Offer

The ongoing communication and education that you will receive from our team will empower you to get the best possible deal on the home that you desire


You’ve found the one. Fantastic! Here’s what happens next:


1.  We will conduct a detailed CMA (Comprehensive Market Analysis) complete with comparable active and expired listings, recent solds and historical data relevant to determining the market value of the home. This will empower you to make an informed decision.

2. We will prepare an offer that protects you, follows your instructions and matches your schedule and needs.
3. We will explain the details of the offer, the terms and suggest options for specialty clauses ensuring you know exactly what you are agreeing to.

4.  We will present and negotiate the offer on your behalf to get you the home that you want at the price and terms you want.


After this:




Negotiation FAQs:


     1. How long will the negotiations take?


    2. If the seller accepts my first offer, am I forced to buy? (and shouldn’t we have then offered lower?)


Closing Costs

During the meeting with your lawyer, you will need to provide a cheque that will include your down payment, adjustments and any other costs accrued. This amount will be less the initial

deposit that was submitted with your offer (upon acceptance). Your lawyer will provide you with a complete breakdown of the amount owing.


Closing costs incurred on the day of closing:


Mortgage Insurance

If you have a Genworth or CMHC (Canada Mortgage and Housing Corporation) insured mortgage, there will be a cost for the insurance coverage. Anything below a 20% down payment typically requires this insurance. This fee is usually blended into the mortgage payment; however, you will owe tax (HST 13%) on your insured mortgage total amount. The tax portion will be a part of the cheque given to the lawyer.

Please note: if you purchase an energy-efficient home or make energy-saving renovations, CMHC offers a 10% mortgage loan insurance premium refund and an extended amortization period. (CMHC Green Home)


Land Transfer Tax (Buyers only):

Land transfer tax varies depending on the cost of the property. Land transfer tax is 1-2% of your purchase price and will be part of the cheque given to your lawyer.



Adjustments are common. Any applicable adjustments will be made on closing. For example: if the seller has paid for 6 months of the property taxes and you are closing with 3 months remaining of that prepaid tax, the seller will need a reimbursement from you, the buyer, on closing. This will be part of the cheque given to the lawyer.

Legal Fees

You should anticipate legal fees starting at $1,000 to handle the purchase and mortgage for your property. In addition, you will be responsible for the lawyer’s disbursements (out of pocket expenses) including the title search, title insurance, off-title searches, registrations and administration fees. The disbursements are impacted by the purchase price and can range from $600 to $900. In addition, you will also have to pay HST on applicable items. It is important to make sure that your interests are protected by discussing your Agreement of Purchase and Sale with your lawyer before signing.

HST (if applicable)

If you are buying a new home, commercial property, vacant land or a property generating income (i.e. agricultural land), HST could be applicable. We recommend that you consult your lawyer to both confirm if HST is applicable and the exact amount required. This will be part of the cheque given to the lawyer.

Other Potential Costs

Additional costs to plan for include fees associated with moving, like utility hookups, movers, storage rentals and cleaning services.

Tips to Help You Save Money

Check to see if you qualify for the following government programs:


Here are a couple of government programs, grants and incentives to help with the

renovation of your home:







Moving Checklist

1-2 Months Before Your Move









1 Month Before You Move (Address Change Checklist)

You can change your address either online or at your local post office with Canada Post and set up mail forwarding to your new address. Don’t forget to change the address on your health card, driver's license, and/or vehicle permit.

Notify the following companies, organizations and professionals of your move and the effective date of your change of address.

1 Week Before You Move


Welcome to Closing Day

On closing day, your lawyer will provide the keys to your new home, usually at their office. This typically occurs once the seller’s lawyer has received the funds.

We highly recommend moving in at least one day AFTER closing. We also recommend you to not book any moving services on closing day.

Once you arrive at your new property:


Services you may want to consider for your new home



Safety Checklist




We offer many reliable resources that will ease your home buying process.







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