Ready to Buy?

If you’ve got a good job and some cash put away, you’re probably ready to buy your first home.  If you’re renting, you’re paying someone else’s mortgage when you could be paying your own.  If you’re living at home, you may be able to move out sooner than you thought.

The first step is to talk to a mortgage professional who can tell you pretty quickly whether or not you are ready to buy.  And a good mortgage professional will be able to help you with a plan so that you are ready by helping you clear up any credit problems or suggesting a plan to save some money for a down payment.

Next, you need a real estate Broker who you trust and who puts your needs ahead of their own.  Interview a few.  Ask about their experience and knowledge.  Ask how many transactions they had last year.  You’re looking for a balance between “way too busy for you” and “I need you to buy this house today so I can make my next car payment”.  Will your Real Estate Broker be happy to answer your home maintenance questions years after you’ve moved in?

Call or message me at 905-466-7992 to get some answers!

Heather Belsito, Broker, Stonemill Realty Inc., Brokerage


So you want to be a Landlord?

If you’ve got some money that you want to invest, real estate may be a great option for you.  Someone else pays your mortgage and once the mortgage is paid off, you have extra income.

Get help with this early on.  What type of property is the best investment?  Where should you buy?  Who will screen tenants for you?  How much should you put down?   You need a real estate Broker with rental property experience and knowledge.  Pat and I own some rental property.  We also manage several properties and we help our clients buy and then rent their investment properties.  You need a mortgage professional who understands investment property.  You’ll need an accountant when it’s time to sell to help you understand any Capital Gains or HST implications. And you need a real estate lawyer.

I’ve found that a 35% down payment will result in positive cash flow in most cases and lots of lenders prefer a 35% down payment when it’s not your principal residence.

If you’d like to chat with us about this possibility, give me a call or text message at 905-466-7992 and we’ll show you how you can become a Landlord!

Heather Belsito, Broker, Stonemill Realty Inc., Brokerage