Mike Kelly – Realtor at Real Broker Ontario Ltd.
I’m aware this isn’t easy and it takes time, but this is a non-negotiable. Sometimes you might need to think outside the box, move back home, live with your family for as long as possible and save everything that you can. I love my family, I personally couldn’t handle moving back home, but you need to do what you need to in order to get that downpayment saved up! I spoke with a client about this the other day and I want to make it clear here as well… You do not need 20% of the purchase price to buy. I REPEAT, you DO NOT need 20% down. People hear this all the time and it is not true. As a first time buyer, you can get away with as little as 5% of the purchase price down plus closing costs. Another conversation that I’ve had 3-4 times this week is that “you will never out-save the real estate market”. The longer you wait, you will continue to lose the opportunity to get into the market.
This starts you off on the right foot. There’s nothing worse than looking at properties, getting ideas swirling in your head and finding out later that you’re pre-approved for $200,000 less than the price-point that you’re looking at. Believe me, this is more for you than us and skipping this step will only set you up for disappointment.
I’d love to chat with you, lay out the services that I offer and see if working together would be a good fit. This step is extremely important and I have another blog post, How to choose a Realtor, to help guide you towards the right Realtor for you.
Now for the fun part, let’s see some great properties and find you a home!
This is only a brief guide and you SHOULD have some more questions about the buying process. Please give me a call to begin your home-buying process and go over this in much more detail.
E. mike@mjkrealty.ca
M. 905-391-0024 IG. @mike.j.kelly