Congratulations on Deciding
to Buy a Home.
You’ve decided you want to buy a new home in Regina or surrounding area. Navigating all the information you can find on the Regina Real Estate Market. Now what? Check out all of the handy info below that can help you through this exciting, but sometimes stressful, process. If you have any questions at all we are only a phone call away.
Our three unbreakable rules for buying a home:
- Don’t let clients over-extend themselves. With stories on the news every day about personal debt reaching record levels, we consult with our clients about the top end of their budget, then try to find them a home $25-30K less than that. We earn less but make up for it in referrals. We want our clients to have money left over to go out for ice cream or see a movie without having to worry about making ends meet.
- 9 times out of 10, look at the basement and foundation first. The foundation and basement are like a house’s backbone and its core. Especially in a city like Regina, if there are problems in these areas, the buyer is going to have headaches for years down the road.
- If we wouldn’t want to live there, we wouldn’t expect you to live there. This is part of the lasting relationship we want to build with the people we work with. We want clients to walk away happy from every transaction—happy enough to tell their friends about our work.
I Will Find the Right Homes for You
Once you’ve been pre-qualified and know what price range you want to stay in, we can help you determine which properties fit your needs by using the (MLS) Multiple Listing Service system to locate them.
We have the best possible resources and communication systems available today to help you locate the homes on the market that match your specifications. You can even search our listings here on our website.
I Will Help You Every Step of the Way
I will help you complete your financing and inspections, and close on the transaction. My top priority is to make sure that your home buying experience is pleasant, cost-efficient, and successful.
What is a Mortgage Stress Test?
New mortgage rules implemented in 2018 require home buyers to undergo a mortgage stress test, meaning you need to qualify for a mortgage using the minimum qualifying rate (which is two points above the actual mortgage rate or whatever the average five-year posted rate is – whichever is higher). This will affect the dollar value the bank will loan you for a mortgage. For someone who was qualified for a mortgage of $350,000, under the new rules, would qualify for a mortgage closer to $300,000. These rules were suppose to protect the housing industry and they will help you make sure you don’t over-extend yourself but it’s put a damper on buyers budgets and removed a lot of buyers from the market. This is one of the reasons we’ve seen a drop in our market over the past few years.
Let me help you buy your home.
Here are some questions to begin the process: