Buying your home.
Buying a home can be a long and complex process. At Acorn, we’d like to help by providing you with some tips that can make the process as smooth as possible. Having the right information is the key.
Pick The Location
Location is a very important factor when decided on purchasing a new home. Determine what is important to you and your family, including schools, community facilities, libraries, highway access and transportation, etc. Acorn has communities located throughout the GTA that are convenient and desirable. Visit one of Acorn's communities.
The Buying Process
Coming Soon. For more information on buying, review the Tarion's "Homeowner Information Package".
Mortgages
Affordability & Budget
A crucial early question is: “Can we afford to own a home?” Not just afford the down payment, but the ongoing mortgage payments, plus maintenance costs as well, for many years into the future. It’s important to find out what you can afford and have your finances arranged before you start looking.
Types of Mortgages
There are many different mortgages for you to choose. Review your finances with your banking representative and evaluate which mortgage option is best suited for you. Knowing what you can afford, and what type of mortgage you have arranged, can help determine which home you will purchase.
Pre-approval is required to purchase an Acorn home, and a copy of the Pre-Approved Mortgage Certificate must be submitted with your Purchase and Sale Agreement.
Mortgage Calculator
All of Canada’s major banks, trust companies and mortgage companies provide free mortgage calculators to help you determine what your costs will be, including both the principal and interest.
For more information, visit TD CanadaTrust Mortgage Specialists to calculate your mortgage.
Financial Assistance
Owning a home is a huge financial commitment, especially for a first-time homebuyer. There are many programs that you can offer help, including:
Lawyers
When purchasing a new home, it is recommended that you work with a real estate lawyer to review your Agreement of Purchase and Sale contract before finalizing your purchase. The lawyer will work on your behalf to review the legal documents.
A real estate lawyer is also required during the time of closing. You cannot close a home without a lawyer. The lawyer will request a fee. Before committing to a lawyer, ask for an estimate and review their fees.
