Speak to a qualified mortgage professional and find out how much is the maximum amount of financing you can afford.

The lender guarantees that if you qualify for a mortgage they will offer the agreed upon interest rate and put the commitment in writing. Sellers are more receptive to potential buyers who are pre-approved and gives you more power during negotiations.

Separate your must have from your wish items. Your must have list may include such items as number of bedrooms, a parking space or within walking distance to work. Your wish list may include wanting to have a fireplace, pool or crown mouldings in the bathroom. Realistically for first-time buyers, you will not get everything on your wish list but it helps to keep things in priority and in determining what compromises can be made.

It's good to be prepared for showings because usually after several viewings your thoughts can become a big confusing mess. So bring 1) paper and pen for taking notes as you search 2) measuring tape and 3) a digital camera to help you refresh your memory. It helps to rank or rate your properties after each showing.

How will your furniture fit? Is there space for a dining table? Can the partially enclosed den act as a nursery room? How would this room look if I removed the seller's large furniture? Imagine and discuss.

Don't just rely on hearsay from people who don't live in the neighbourhood. Take a walk for yourself and get to know the restaurants, retails shops, schools, people and so on. Try doing a test commute to work whether it's walking, cycling, public transportation or by car. Also, talk to the people within the area and ask for their thoughts on the neighbourhood. Investing a few hours for such an important purchase is well worth it!

After a day or so, you'll know which one or two homes you would like to buy. Request to see them again. Notice elements that you may have missed the first go-around. Viewing it during a different time of day may help as well. For example, the first time you may have viewed the unit during the evening and now you would like to see how it shines during noon. Remember to not take too long otherwise your home may have already been sold.

There's no such thing as a perfect home. However, let's say the first home you saw showed very well, fit your needs perfectly, was priced right well within your budget. You couldn't ask for anything more - essentially "perfect"! Do you take your time and continue to shop around? Most likely you would, but do not shop for a home this way. If you find the "perfect" home, buy it!

There are differences between Freehold and Condominiums. Find an real estate agent who is knowledgeable about condominiums - the building, the people, the neighbourhood and the market. One who will give you the blunt honest truth, answer your questions promptly and represent your best interests.

Ready to go condo shopping? I will gladly assist you in your hunt. You can call me at (647) 887-8889 or send me an email at dksluu@gmail.com.