Episode #26 - Home Ownership: Things to Consider When Buying Your First Home
Series: Home Ownership (Part 1 of 9)
Publish Date: Monday, May 14, 2007
Host: Michael Seaton, Director, MyVault Relationship Team
Guest: Mary Stergiadis, Canada Mortgage and Housing Corporation (CMHC )
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But The Money Clip podcast series from The Vault makes for great listening - especially if you're in the market for some valuable financial advice. So instead of printing the podcast page, why not tune in?
- http://themoneyclip.scotiabank.com
Purchasing a first home is one of the biggest emotional and financial decisions many people ever make. In this episode, guest Mary Stergiadis of CMHC walks first time buyers through the process of purchasing a new home, from the time you make the decision to buy, right up to what you should expect on closing day.
- 00:00 - Intro music.
- 00:31 - Host Michael Seaton introduces the series, himself, guest Mary Stergiadis and today's topic.
- 01:09 - How can you tell if you are ready to become a homeowner?
- 02:09 - What to do when getting started.
- 03:03 - What are the critical factors for a first-time home buyer to consider?
- 04:12 - Understanding the difference between new developments and established communities.
- 05:36 - What is involved in the pre-approval process?
- 06:09 - What are the benefits of getting pre-approved?
- 06:47 - What do lenders look at in your pre-approval?
- 08:55 - When should you bring in a real estate agent?
- 09:34 - Who else is part of the home buying team?
- 11:23 - Additional expenses to keep in mind so there are no surprises.
- 15:55 - Wrap up.
- 16:17 - Outro music.
References in this podcast:
1. CMHC's Homebuying Step by Step guide
2. Scotiabank's What Can I Afford calculator
3. Equifax
4. MLS Online
