9 Pieces of Sage Advice for Toronto Home Buyers

On in Buying by

1)  Location, Location, Location!
You’ve heard it before, and it’s true! Buy into a location that you predict will be equally attractive in the future and you most likely will have made a good investment.  Remember, you can change a house but you can’t change its location.

2)  Check Out the Schools
The school district is important even if you don’t have children because at some point, you might decide to resell your home.  It is not uncommon in Toronto for some people to move into an area just because of its close proximity to a particular school.  Re-visit point one, above.

3)  Energy Efficient Houses Save Thousands of Dollars in Utility Bills Over Time
If the house you’re considering purchasing isn’t energy efficient now, make certain it becomes so once it’s yours.

4)  Trial Run Your Commute During Rush Hour
Drive, walk, or use “The Better Way” to get yourself to work during peak periods from the house you are considering buying.  If the commute is unbearable, it’s best to find out now.

5)  Want Your Equity to Increase Exponentially? Buy a Fixer-Upper
Buyers will pay top dollar for a good house in a demand area that is in really good condition.  Give your equity position a terrific boost by purchasing the classic “fixer-upper”. If you pay to have the kitchen and bathroom remodeled yourself you not only get the benefit of living with your own design choice but your home instantaneously becomes worth much more.  Your Sage Real Estate sales representative can tell you which renovations reap the best returns.

6)  Do a Credit Check on Yourself
Make certain there are no errors on your credit report.  If there are, take steps to rectify them before they adversely affect your mortgage pre-qualification.  Review the video section for Buyers at our website SageRealEstate.ca for information on how to obtain your own credit report free of charge.

7)  Clean Up Your Credit – Pay Off Debts and Don’t Incur More!
Make all your payments on time.  Even if your credit history has been through a bad patch or two, lenders are more forgiving to borrowers who have seen the error of their ways and have recently been making regular on-time payments.  This is a time in your life to be financially prudent.

8)  Interest Rates Low?
Go for a longer term, fixed-rate mortgage or a variable-rate mortgage that will allow you to lock in to a fixed term if you see interest rates on the increase.

9)  Buy So You Can Expand
Buy a house that can expand along with your family’s changing needs.  There are times when trading up is appropriate and there are also times when the need to purchase another home could have been avoided had you bought a home that would have accommodated minimal expansion.


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