Discuss what is important when it comes to your lifestyle: what part of the city do you want to live in; downtown or the country? Do you plan on maintaining a lawn? Where do you work? Do you have a car or will you need nearby public transportation?
You also have design options for your home; are you looking to have an upgraded kitchen for parties, or perhaps pre-wiring for your entertainment needs? These are essential questions you need to answer.
Determine what is affordable to you
Once you’ve chosen the location and type of home that fits your lifestyle, meet with a financial representative to determine a mortgage amount that you can comfortably afford. This will ensure that you spend your time wisely on homes within your price range. You should also consider getting a pre-approved mortgage. For more information on new home financing, visit the Canadian Bankers Association website.
Talk with a real estate lawyer
Before signing your Agreement of Purchase and Sale (APS), which is the contract for the construction of your home, there are a number of steps to take. One of the most important is to have your APS reviewed by a qualified real estate lawyer.