Wise Advice for the 1st Time Buyer

Brampton realtor Kim Campbell offers this advice to ease the steep learning curve for first-time homebuyers:

· Find a knowledgeable realtor who will explain everything, including the offer process, buyer agreement, the dual-agent system, multiple offers and lawyers' fees.
· Ask family and friends for an agent referral.
· It's important to have a good rapport with an agent.
· Be honest and upfront with the agent about what you want, so you don't waste time pursuing the wrong properties.
· Couples: Make sure you are in agreement and hunting for the same dream house.
· Be aware location is the No. 1 priority when buying, if you are thinking of your first house as an investment.
· Client loyalty is important, if you expect the agent to work hard for you.
· Arrange a pre-approved mortgage and organize house insurance.
· Take a long-term mortgage and lock into today's low interest rates.
· Understand the importance of a house inspection by an independent expert.
· Look at how the neighbours keep their houses; if they're dirty and rundown, that will never change.
· Do your homework. Attend open houses and look at MLS listings online so you will have some sense of the local real estate scene.

Donna Jean Mackinnon from Toronto Star