Kamloops This Week - First time Home Buyer's Guide

first time

home buyer’s guide

Team110.com Robert J. Iio Personal Real Estate Corporation

250-851-3110 info@Team110.com

Real Estate (Kamloops)

(250) 374-3331

Jeremy Bates

Tanya Ney

REALTOR®

UNLICENSED ASSISTANT

Bobby Iio REALTOR®

If you are looking to Buy or Sell Real Estate in the Kamloops Area, then you have come to the right place.

ReMax’s Team 110 prides itself on superior customer service, knowledge, professionalism & experience.

FREE HOME EVALUATION WITH NO OBLIGATION! INFORMATION FOR BUYERS

If you are interested in buying real estate in the Kamloops area then we can help you. Whether you are looking for property in the City center or in the outlying area, one thing is for sure, you need the advice of local Real Estate Experts. We have access to all listings throughout the Kamloops area and stay up to date on all the latest Real Estate trends in our entire region.

As REALTORS® we will be able to help you: • Select a Property • Make an Offer • Finalize an Accepted Offer

INFORMATION FOR SELLERS

Let me help you take the stress out of selling your home.

When you hire Team 110 you are hiring experts on the Kamloops and area Real Estate market.

We are committed to helping you get the best possible return on the sale of your property. We will achieve this by: • Helping You Prepare your Home For Sale • Pricing Your Home Correctly • Aggressively Marketing Your Home

RE/MAX Miracle Home Program

“

C h o o s i n g Te a m 1 1 0 M a d e B u y i n g Our First Home A Stress-Free, Fun, And Enjoyable Experience. We Will Be Listing With Them Again In The Future.

Wade & Lindsay

”

2 • First Time Home Buyer’s Guide 2014/15

Thanking our clients for helping us raise over $52 million in Canada to help over 2.6 million sick and injured children every year treated at a Children’s Miracle Network member hospital

Children’s Miracle Network and their member hospitals appreciate all the wonderful fundraising that RE/MAX has achieved; helping more than 2.6 million children each year receive quality care from children’s hospitals across Canada.

With every minimum $25 donation, BC Children’s Hospital Foundation will send an Honour Card to your client, informing him or her that you have donated a portion of proceeds from the sale of the home to Children’s Hospital.

WELCOME TO YOUR NEW HOME! It’s a cliché, but true: A home is the most-expensive purchase you will ever make and, as such, deserves all your attention — and more.

This is where Kamloops This Week’s First-Time Home Buyer’s Guide comes into play.

Buying that first home is an exhilarating experience, but one that can be daunting, considering it is a timeconsuming and, at times, complicated process.

From knowing where to look for prospective homes, to finding the right realtor, to agreeing on a lawyer to ensuring all paperwork is in place, the process is intricate.

So, sit back, relax and take your time exploring this publication.

In it, you will find all the information you need as you take that first step toward home ownership.

Anchoring the information is a comprehensive, 11-step guide to buying your inaugural home, around which we have included a plethora of complementary data, such as questions to ask, mistakes to avoid and a moving timeline.

Happy reading — now, turn the page and take the first step in finding your dream home!

A QUICK SUMMARY In KTW's First Time Home Buyer's Guide, we have presented 11 crucial steps to purchasing your first home.

Below you will find a quick guide to reference when you start your journey, ensuring you don’t miss a thing!

STEP

1. Make sure you're ready 2. Decide what you want 3. How much can you afford?

4. Financing your down payment 5. Find a realtor 6. Find out what is out there 7. Make an offer 8. Find an inspector 9. Find a lawyer 10. Closing your purchase 11: Move in!

PAGE

4 5 6 7 8 9 10 11 12 13 14

6 Little Known Facts That Can Help You Buy Your First Home FREE Special Report Kamloops - If you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle. You feel like you’re stuck in the renter’s rut with no way of rising up out of it and owning your own home.

Well don’t feel trapped any more! A new FREE special report entitled “How To Stop Paying Rent And Own Your Own Home” has already helped dozens of local renters get out from under their landlord’s finger, and move into a wonderful home they can truly call their own. You can make this move too by discovering the important steps detailed in this free special report. It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem. With the help of this report, it will become suddenly clear to you how you really can save for the down payment and stop wasting thousands of dollars on rent.

To view this FREE special report on-line, please visit www.RentersBuyYourOwnHome.com. Or to hear a brief recorded message on how to order your FREE copy of this report, call toll-free 1-888-256-5058 and enter 4001.

You can call any time, 24 hours a day, 7 days a week.

Get your free special report and stop wasting thousands of dollars on rent NOW. This report courtesy of Cheryl Fuller. Royal LePage Kamloops Realty. Not intended to solicit buyers or sellers currently under contract. Copyright @2014

First Time Home Buyer’s Guide 2014/15 • 3

BUYING A NEW HOME STEP 1: BE READY TO PURCHASE If you’re thinking of buying a home, you’ve come to the right place. These pages can turn you into a house-hunting master.

But, before we jump right in, you have to make sure three things are ready — you, your bank account and the real-estate market.

Are you ready? Be sure: Few joys can match the pride of owning the roof over your head, but you will have to make some sacrifices.

There’s the obvious financial responsibility, but your home will also require constant care. That’s what real pride of ownership is all about.

Is your bank account ready? Check it twice: Your first home will be the biggest financial obligation you’ve ever faced. You should ideally have saved up some money for a down payment and are managing any debts, such as student loans or credit cards.

In a couple of steps, you can determine how much you can afford.

Is right now a good time to buy?

Markets go up, markets go down and even the smartest experts can’t accurately predict when a

market will peak or bottom out.

If you’re buying a home as a long-term investment (and for long-term enjoyment), you should be protected from short-term changes in the market.

Pick a home that meets the needs of you and your family.

Then you’ll enjoy living in your investment as it grows in value.

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4 • First Time Home Buyer’s Guide 2014/15

BUYING A NEW HOME STEP 2: DECIDE WHAT YOU WANT First, decide where you want to live : Urban: Ahh, the big city. Sure, the prices are generally higher, but you can walk to a restaurant, maybe even to work. You’ll also have the widest range of housing options.

Suburban: Newer schools, newer shopping centres, bigger yards, bigger homes — no wonder so many people love the suburbs.

Smaller cities and towns: Canada is dotted with thousands of wonderful self-contained communities and, compared to the big city, you can save a bundle.

Rural: If you like the idea of owning land, how about a few acres all to yourself? Seclusion is not for everybody but, for some, it’s heaven.

Next, decide what type of home you want: Single-family detached: As the name implies, the home is not attached to the home next door. Styles range from a single-story suburban bungalow to a three-story Victorian.

Semi-detached or linked: Two houses that share a common wall. Usually less money than a fully detached home.

Duplex: A building zoned for two families.

Townhouse: Also known as terrace or row housing.

Several homes with a common style and joined in a row. They usually share walls on both sides.

Condominium: You’ll own 100 per cent of your unit and a share of the common areas, which include the necessary plumbing, electrical systems, hallways and elevators. They may also include lots of fun stuff, such as a private gym or party room.

Membership has privileges — and costs. On top of your mortgage and property taxes, condo owners also pay a monthly fee to operate and maintain the common areas. Be sure to look into condo fees and how well they are managed before signing anything.

Next, decide on new or resale.

Resale: Previously loved. The previous owner may have made improvements and upgrades and you get them with the house, usually for less than the cost of putting them in yourself. However, some may have a little too much "character," like a leaky roof. Know what you’re getting into.

New: If you’re having a new home built from the bottom up, carefully examine the property, the blueprints and visit other homes built by the same company. Have your realtor and/or lawyer review everything before you sign. While your home is being built, stay on top of the process.

And remember, you have a legal right to make a full inspection of the house before you accept it as complete.

You’ve gotten a lot better at painting.

Or maybe finding the right paint really does matter.

Painting becomes easy, once you discover the Benjamin Moore® paint that’s right for you. You’ll also enjoy exceptional durability. And with a Benjamin Moore store in your neighbourhood, it’s incredibly convenient too.

Visit benjaminmoore.ca.

KAMLOOPS PAINT & WINDOW COVERINGS Store Name Address line 1

105-805 Notre Dame Dr Address line 2 Kamloops, 000-000-0000 BC, V2C 5N8 website 250.828.1800

First Time Home Buyer’s Guide 2014/15 • 5

BUYING A NEW HOME STEP 3: WHAT CAN YOU AFFORD? Before you start looking for your dream home, let’s find out how big you can dream.

Knowing your true budget is the first and most important step in buying a home.

A home is a big purchase, probably the most expensive thing you’ll ever buy, and there are lots of expenses you might not even know about.

Some of them include: One-time costs: Down payment, legal fees, title insurance, inspection fees and property-transfer taxes.

Monthly costs: Mortgage, utilities, maintenance, insurance and property taxes.

Everybody's total costs are different, but it's almost guaranteed you won't have that much money saved up. Hopefully, you have enough for a nice down payment, but for the rest . . .

Yes, you need a mortgage.

So, determine how much a bank will lend you.

Head over to the next step, where you will find helpful tips on arranging your mortgage.

But, the first step in determining how much a bank will lend you is to understand how much you can afford each month.

This is determined using two lending principals: 1. Gross debt-service ratio (GDSR) calculation: This lending principle simply states that your monthly housing cost should not exceed 32 per cent of your gross monthly family income.

2. Total debt-service ratio (TDSR) calculation: This lending principle summarizes that your monthly housing cost and payments on all of your other debts (including loans, credit cards and lease payments) should not exceed 40 per cent of your gross monthly income.

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B.P.E./Ed.

ROYAL LEPAGE KAMLOOPS REALTY

Cell: 778-220-5432 Off: 250-374-3022

mrcarswell@royallepage.ca 322 Seymour St. Kamloops, BC V2C 2G2

6 • First Time Home Buyer’s Guide 2014/15

Check me out at www.realestateforsalekamloops.com

BUYING A NEW HOME STEP 4: FINANCING YOUR DOWN PAYMENT There are generally two ways to get a mortgage in Canada: From a bank, or from a licensed mortgage professional.

Banks offers products from their particular institution. Licensed mortgage professionals send millions of dollars in mortgage business each year to Canada’s largest banks, credit unions and trust companies, offering client’s choice, and access to hundreds of mortgage products.

Mortgage professional’s work for you. From the first consultation to the signing of your mortgage, the services of a Mortgage Broker are offered at no cost to you. A fee is charged only for the most challenging credit solutions.

When you’re purchasing a home for the first time, it’s important that you are making an educated buying decision with professional unbiased advice.

Mortgage Brokers are able to advise you on the following great programs especially suited to first time home buyers.

Down Payment Options:

If a lack of a down payment is holding you back from purchasing your first property now, you do have some options. A down payment can come from both traditional and non-traditional sources (in most cases only a 5 per cent down payment is required to purchase).

Traditional sources are personal savings, a gift from an immediate family member and RRSPs or other investments.

Non-traditional sources of down payment can include a borrowed down payment/Flex Down, a flexible down payment program offered by some lenders that allow those with a strong credit history to borrow their down payment from a line of credit or credit card or a personal loan.

Purchase Plus Improvements You’ve found a fabulous house in a great area but the kitchen needs an update and the roof needs to be replaced, expensive renovations that weren’t included in your original budget.

With a Purchase Plus Improvements mortgage, you can complete these updates right after you take possession and include the cost in your monthly mortgage payments, all with a 5 per cent down payment.

A Mortgage Broker can offer no-cost, un-biased advice on everything related to mortgage and home purchase. Call today!

Call a Dominion Lending Centres MORTGAGE BROKER FIRST!

KAREN McKENZIE 250-318-8891 karenmckenzie.ca

BRIAN DELANY 250-819-8176 briandelany.ca

STARR WEBB AMP 250-574-0115 starrwebb.ca

• WE SAVE YOU MONEY AND THERE IS NO COST TO YOU* • FLEXIBLE DOWN PAYMENTS & PURCHASE + IMPROVEMENTS • CONTACT ONE OF US FOR A COMPLETE HOME BUYER’S GUIDE

Western Lending Source

WE MAKE MORTGAGES EASY… REALLY EASY!

250-434-8900 • Toll Free: 1-877-556-8488 376 Seymour Street, Kamloops, BC V2C 2G2 *A fee may apply in very challenged credit situations. Any fees will be clearly disclosed in advance.

First Time Home Buyer’s Guide 2014/15 • 7

BUYING A NEW HOME STEP 5: FIND THE RIGHT REALTOR FOR YOU Realtors are an invaluable resource for knowledge, contacts and advice who help turn buying a piece of property into a home.

Here is what you can expect when you enlist the help of a realtor: There are a number of different kinds of relationships you can develop with your realtor; however, they all fall primarily under two categories — agency relationships and nonagency relationships.

Single agency: An agency relationship is one where the realtor represents you exclusively. In that respect, the realtor's primary obligation is to you and they are required to act only in your best interests.

Anything you tell your realtor agent is strictly confidential and the realtor has an obligation to disclose to you any information he or she has that is related to the transaction.

Dual agency: Dual agency refers to the situation where the realtor represents both the buyer and the seller as

agent at the same time.

In this case, both parties are required to sign a dual-agency contract setting out the obligations of the realtor to both parties and obtaining the consent of the parties to this type of representation.

Non-agency: It is possible for a realtor to work with you without being your agent.

In this case, the realtor can give you information, but cannot provide you with advice.

There is a big difference between these two concepts.

Nothing you say to a “non-agent” is confidential, so you have to be careful what you confide. As a buyer, you will likely want your realtor to act as your agent, but that decision is up to you.

Remember, the Realtor Code requires realtors to disclose the nature of the relationship they have with you and the duties and obligations associated with that relationship. Make sure you have this discussion with your realtor.

Selecting a realtor: Open houses are a great way to meet face-toface. If you are browsing properties on realtor. ca, you can also contact a realtor directly through that website. Interview two or three and pick the one you think will be your best “business” partner.

M AG G I E S C H M A LT Z

REALTOR®

Make Your Move with Maggie

THOMPSON RIVERS APPRAISALS & Real Estate Consultants Inc.

We are a leading provider of Real Estate Appraisals and Depreciation Reports in the Kamloops region

Web: Trappraisals.ca • Email: office@trappraisals.ca

Contact us for a Pre-Purchase appraisal report or Depreciation Report for strata properties.

All our appraisers hold the AACI P.App and CRP Accredited Appraiser and Certified Reserve Planner Designations

919 Dominion Street Kamloops, BC Phone: (250) 372-2599 Fax: 1-877-542-4845 250�852�1162 • maggieschmaltz@shaw.ca

8 • First Time Home Buyer’s Guide 2014/15

TRAPPRAISALS.CA

BUYING A NEW HOME STEP 6: SEE WHAT'S OUT THERE Now’s the time to pound the pavement and see what’s available.

This step can be either incredibly fun or incredibly exhausting. But, with an expert realtor at your side, you’ll be able to sift through to your dream home much more effectively.

Read and see all about it: ≈ Start reading real estate ads in Kamloops This Week. ≈ Visit the areas you’re considering to get a feel for them. ≈ Make note of surrounding schools, shopping and recreational areas. ≈ Keep an eye out for not-sogreat things like large industrial areas, railway tracks and

airports. ≈ Visit during the day and at night.

Open Houses, come on in: Open houses are a great way to see inside the homes of your potential neighbourhood. If a realtor is hosting the open house, he or she probably knows the local market inside and out and will be happy to answer your questions.

Don’t be afraid to ask!

Realtors have access to

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incredible house-hunting tools called MLS systems, which are operated by real-estate boards across Canada.

You can view publicly available information about MLS listings at www.realtor.ca. Your realtor can start sending you listings of potential homes right away.

Most listings will have multiple photos — and some even have moving 360-degree views! And, with the interactive mapping feature, you’ll be amazed how fast and easy it is to zero in on your favourite few homes.

Stay objective when visiting potential homes: Walking through a potential home is a thrill, but try not to lose your head.

Don’t let a giant kitchen island or swanky hot tub distract you from your real goal, which is finding a home that meets all your needs and fits your budget.

DEB FEHR CELL: 250-571-2472 DEBORAH.FEHR@CENTURY21.CA 888 $&/563: $" %&#03") '&)3

I MAKE REAL ESTATE EASY‌

Buying and Selling Real Estate is many things. It can be exciting, confusing and stressful all at the same time, as it represents the largest transaction most people and families will ever make.

WHAT THAT MEANS FOR YOU‌

Whether you are buying or selling, using me as your Real Estate Professional means you get over 25 years of Real Estate, Mortgage and Financial experience.

That combined with my love of Real Estate and knowledge of the Kamloops area means that you will With me, you can focus on the exciting, while I remove get the highest level of professional service. the confusion and the stress‌ because I make Real Estate Easy!

My goal is your referral. When our business is done, If I get that, then I’ve done my job.

HOW I’M DIFFERENT‌

As both a Real Estate agent, and a Licensed Mortgage expert, I’m different. I prefer to tackle financing first, so working together we can determine exactly what you can afford, and build a plan based on your needs and objectives. That way, there are no surprises. Now the house hunt can begin in earnest, and when you find your dream home, its yours.

SO LET’S GET STARTED‌

Together we can do a comprehensive review of your finances, as they relate to Real Estate. From there we can come up with an action plan, and review all of the variables and possibilities with a view to making your Real Estate dreams a reality, either today or with careful planning, tomorrow.

CALL ME TODAY FOR YOUR FREE, NO OBLIGATION HOME EVALUATION AND/OR MORTGAGE FINANCING REVIEW

DEB FEHR CELL: 250-571-2472

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First Time Home Buyer’s Guide 2014/15 • 9

BUYING A NEW HOME STEP 7: MAKE AN OFFER You’ve found a home? Congratulations!

Now, if you actually want to make it yours, you have to make a successful offer, one that the seller will accept.

Preparing the offer: Realtors can prepare the offer for you.

Here are some terms you’ll see in the offer: Buyer: That’s you.

Seller: The present owners.

Purchase price: The most important number.

Let’s hope the seller goes for it!

Deposit: A cheque you write to the seller or the seller’s broker.

This is your way of saying, "My offer is serious."

The size of the deposit is up to you.

Chattels included and fixtures: Be sure you know what is included with the house — the washer and dryer, the microwave, draperies, light fixtures. Don’t leave anything to chance.

Irrevocability of the offer: The length of time you give the seller to consider your offer. Usually less than 48 hours.

Completion date: The glorious day you take possession!

Often 30 or 60 days after signing.

Clauses particular to this agreement: Every transaction is unique and you may want to add conditions that are important to you, such as a proper home inspection.

Your realtor can help ensure no details are overlooked in your offer.

Submitting the offer: You’ve signed on the dotted line and your realtor has provided your offer to the seller.

The seller can accept your offer.

Fantastic, when do you move in?

The seller can reject your offer.

It’s not common for an offer to be completely rejected. If it was, your realtor can investigate why and see if there was some misunderstanding.

The seller can "sign back" or counter your offer.

The seller wants to alter some part of your offer — most likely the price.

The seller will cross out the price on your offer and write a higher number — or delete or alter some conditions.

Now it’s your turn to sign back with any additional changes or your acceptance of the counter-offer.

Good luck!

I’m with you every step of the way…

(Kamloops) Real Estate SENIORS REAL ESTATE SPECIALIST

When you make the important decision to buy or sell a home in the Kamloops area, I am committed to going the extra mile to ensure that all of your needs are successfully met in a professional and honest manner.

For Service and Commitment with your Kamloops and Area Real Estate transactions let me be your guide.

Denise Bouwmeester

You need someone sincere who cares and will work hard to help you find the perfect home for you.

Call me today and take the first step towards your new home.

Cell 250-319-3876 dbinkamloops@shaw.ca denisebouwmeestersales.com

10 • First Time Home Buyer’s Guide 2014/15

800 Seymour Street Kamloops, BC V2C 2H5

Bus. 250.374.1461 Cel. 250.319.5698 godinlori@gmail.com

BUYING A NEW HOME STEP 8: FIND A HOME INSPECTOR The best way to learn more details about your new home is to have it inspected beforehand.

Make a conditional offer based upon a satisfactory home inspection, as this is an increasingly standard condition on any resale home.

If the seller doesn’t want you closely examining the home before you take possession, you have to wonder why.

Go with a qualified professional: Make sure your inspector is a member of a recognized professional organization. It helps provide some assurance they have the training and experience for the job.

What will they check during the inspection?

Plumbing and electrical systems, the roof, visible insulation, walls, ceilings, floors, windows and the integrity of the foundation.

They also check for lead paint, asbestos, mould, outdated and dangerous wiring and evidence of pests like mice or termites.

Join the inspection: Get up close and familiar with your new home.

If any problems are detected, you’ll see them

first-hand and learn some maintenance tips from a pro.

You’ll get it in writing: Their report will summarize the condition of your home.

Home inspection for a new home?

New does not equal perfect and construction quality can vary greatly from builder to builder.

In some provinces, repairs and corrections in new homes may be covered by a government- or industry-sponsored warranty program.

Bad news doesn’t necessarily mean it will have to cost you.

QUALITY HOME INSPECTIONS

We pride ourselves on i d providing the peace off mind people have come to expect from Canada’s Leading Home Inspection Company.

We provide homebuyers, home sellers and real estate professionals with quality home inspections and valuable energy efficiency evaluations. The home buying and selling process can be very stressful. An AmeriSpec home inspection can help a homeowner better understand the condition of the home they are buying or selling.

Our professional and knowledgeable home inspectors can make you feel more secure with your home purchase or selling decision.

BILL JOHNSON CMHI, CEA

Canada’s Leading Home Inspection Company

250-377-0026

bill.johnson@amerispec.ca • www.amerispec.ca/kamloops

First Time Home Buyer’s Guide 2014/15 • 11

BUYING A NEW HOME STEP 9: HIRE A LAWYER Buying a home involves piles of legal documents. You need someone to translate the "legalese" and ensure your best interests are protected.

Finding a lawyer: There are lots of experienced real estate lawyers out there. Ask your friends or co-workers.

Realtors will happily give you the names of several lawyers experienced in real estate.

Be sure you ask your lawyer how they structure their fees and get an estimate of the other legal costs you can expect.

How your lawyer will help: There are many, many legal steps to transferring ownership of land from one person to another.

Even if pitfalls like fraud, government legislation, zoning issues or unpaid taxes don't come up, your lawyer will more than earn their pay by making the legal transfer of the home a smooth one.

Have confidence in your lawyer: Ask questions if you don't understand anything.

Explaining legal jargon in plain language is a big part of their job.

FREE HOME FINDER SERVICE NO CONTRACTS • NO APPOINTMENTS YOU LOOK AT YOUR CONVENIENCE

Why call a high-pressure sales agent who will just make you feel obligated when all you want is a hassle-free way to know about the price, location or particulars of a home for sale. Well you don’t have to talk to anyone because my computerized system will search out ALL homes currently listed or sold, anywhere in the Kamloops area by all real estate companies.

Affordability an issue? Search for multi-family homes, fixer-uppers, and suited homes. All you need to do is call my FREE, 24 hour hotline any time and leave your home buying criteria including price range and preferred area.

We will mail or e-mail you all your requested information free, and with no obligation. It’s all part of my FREE House-Hunter Service. Call my toll-free House-Hunter Hotline today at 1-888-256-5085, ID#4051.

(24 hr. recorded message) C H E R Y L F U L L E R R E A L E S TAT E A G E N T

KAMLOOPS REALTY 322 Seymour St. Kamloops, BC V2C 2G2 (250) 374-3022 Office • (250) 371-4522 Direct

12 • First Time Home Buyer’s Guide 2014/15

GREAT LOCATION • CITY BUS STOPS CLOSE TO SCHOOLS • CITY SERVICED LANDSCAPED LOTS • PAVED DRIVEWAYS SHOW HOMES ON SITE HOME OWNERSHIP INCLUDING LAND

LOCATED AT 7510 DALLAS DRIVE, KAMLOOPS, BC

BUYING A NEW HOME STEP 10: CLOSE THE PURCHASE Your offer has been accepted and you can’t wait to move in — but, don’t break out the bubbly just yet — you have to close the deal.

Your realtor and lawyer will do most of the closing work, but here’s your checklist: 1. Immediately begin satisfying any conditions of the agreement that require action on your part.

Your realtor can fill out the documents stating the conditions have been satisfied.

2. Have your lawyer begin searching title to the property. This can take a while, so make sure you allow ample time.

3. Well before closing, get your homeowner’s insurance to be effective on your closing date. Your insurance broker will give you a "binder" letter certifying you are covered.

You can’t get a mortgage without this letter!

4. Contact your lender and have them finalize your mortgage documents. Have your lawyer review them before you sign.

5. Your lawyer will transfer essential utilities, like hydro and water, but you’ll have to make sure telephone and cable companies switch their services to your name.

6. If you rent, give notice to your landlord or

sublease your apartment.

7. Begin planning your big move! Where are those cardboard boxes?

8. Send out your change of address information and fill out a card at the post office. Contact the government about changing information on your driver's licence.

9. Walk through your new home one more time with your realtor.

10. A day or two before closing, you’ll meet with your lawyer to sign the closing documents.

Your lawyer will tell you in advance what certified cheques you’ll need to seal the deal.

Tobiano Real Estate Specialist Helping people buy and sell at Tobiano since the beginning

summerslanding.ca

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• 2-3 bdrm half duplex & condos starting at $299,000 • Freehold building lots starting at $129,000

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ANDREW KARPIAK PERSONAL REAL ESTATE CORP

250.819.4113 toll free 1.866.993.2984 andrewkarpiak.com • summerslanding.ca

First Time Home Buyer’s Guide 2014/15 • 13

BUYING A NEW HOME STEP 11: MOVE IN! Moving day will come sooner than you think, so get planning now.

"Closing date" may or may not mean moving date: It may or may not be practical to move in on the closing date. You may not get the keys to your new home until late in the day.

So, you may want to try to schedule the actual move for a day or so after closing. If you intend to move at the end of the month, contact a moving company or truck-rental company now before they’re all booked. If you can move mid-week or mid-month, a moving company might cut you a deal.

Go with a reputable moving company: We’ve all heard moving horror stories. Go with an established, insured mover, so your items are protected.

Pack it yourself and pack early: Nobody will take the same care you will. Start early and spread it out over many days. Label all your boxes by room so movers know where to put them — and label anything that’s fragile.

Do you really need to take that with you?

A new home is a new lease on life and a chance to liberate yourself from stuff you simply don’t need. If you haven’t used it or worn it in the last year, you probably don’t need it.

Have a garage sale or give it to charity.

Once you move in: The boxes are mostly unpacked and you’re settling in nicely.

You will now feel a strange urge to begin making changes and improvements right away.

That old carpet has to go, a bigger deck would be great for entertaining . . . slow down!

Take time to get a feel for your new home and, more importantly, your new budget.

Take a deep breath and enjoy what you have — your new home.

YOUR SPECIALISTS IN REAL ESTATE LAW Gary Woitas and Rod McLeod offer a full range of legal service including formation of corporations, advising on business legal decisions, wills, drafting and estates, real estate services, and in particular residential and commercial conveyancing/mortgages.

WOITAS MCLEOD

& ASSO CI AT E S 14 • First Time Home Buyer’s Guide 2014/15

ROD McLEOD

GARY WOITAS

Phone: 250-374-3337 Fax: 250-374-3037 243 Seymour St, Kamloops

LAST, BUT NOT LEAST . . .

A VERY USEFUL RESOURCE The New Homes Registry, which can be found online at http://www.hpo.bc.ca/new-homesregistry, provides prospective home buyers with information that will help make more-informed decisions when buying a new home.

It’s a useful resource for home buyers, realtors, lawyers, local governments and others interested in quickly checking the status of a new home or a new home under construction.

Use it to find out if a new home or new home under construction has a policy of home-warranty insurance and is built by a licensed residential builder.

You can search for single-detached homes and multi-unit (including duplex) buildings.

If the home does not have home-warranty insurance, it may have been built under an owner builder authorization or it may be exempt because it is a rental building.

This information is also available on the registry.

The New Homes Registry can be searched using the civic address or legal description.

Only homes registered with the HPO since Nov. 19, 2007, are searchable on this registry.

RJ says CONGRATULATIONS on your decision to become a homeowner!

Buying a home is one of the most exciting — and important — moments of your life. Your home is not just the roof over your head, where you live, eat, sleep, play, and raise a family; it’s also one of the most important investments you’ll ever make.

As a first-time homebuyer, it’s important that you find someone you feel completely comfortable with, who you can trust, and who listens to you and respects your views. They have the market knowledge and expertise, but at the end of the day, it’s your home and your investment, so you must be able to work well with your agent.

RJ is an experienced, professional RE/MAX agent who understands and excels at this.

A few of the reasons to choose RJ to help you through the process...

• Provides you with the highest standard of care and extreme loyalty to you as the client.

• Understands your specific needs and wants, and locates appropriate properties.

• Helps you get pre-approved for your mortgage.

• Believes the whole process is all about you • RJ has 25 years of sales and negotiating experience which he will put to work for you • RJ uses all the latest technology and tools to help you with your purchase Call or email RJ for your Free First Time buyer’s guide.

This guide explains the complete step by step process to purchasing a home.

RJ TOOR

BEST REALTOR

PERSONAL REAL ESTATE CORPORATION

778-220-7653

Choosing the right REALTOR® does make a difference!

2012

rjtoor.com | rjtoor@remax.net

First Time Home Buyer’s Guide 2014/15 • 15

Advice you can bank on™

Buying your first home?

Lots of questions?

I’ve got answers. à Professional consultation — free professional advice, seven days a week, at a time and place most convenient to you à On-the-spot mortgage pre-approval

SUSAN HUTCHINSON Mobile Mortgage Specialist

250-319-7260

susan.hutchinson@rbc.com mortgage.rbc.com/susan.hutchinson All personal lending products and residential mortgages are offered by Royal Bank of Canada and are subject to its standard lending criteria. *Registered trademarks of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada. ™Trademark of Royal Bank of Canada.