Finding Your Property: Setting Yourself Up For Success Before Starting Your Search

Being Prepared is Key

In today’s real estate market, especially in the GTA, it’s often a seller’s market. This means there are more buyers than sellers, and competition is fierce. Homes frequently receive multiple offers and engage in intense bidding wars. Your group needs to be ready to make quick decisions to stay competitive.

What’s Important in This Step

Setting Yourself Up for Success
Creating Your Shared Home Brief
Looking for Properties

Setting Yourself Up for Success

Before you begin looking at potential homes, ensure your group has secured the following:

Mortgage Pre-Approval

Make sure you have completed all your financial work as a purchasing group and have a pre-approved mortgage with a lender who understands you’re buying as a group. Refer to Step 2 for a breakdown of types of lenders.

Real Estate Agent

Work with Husmates and their team of qualified and experienced agents who understand the ins and outs of co-ownership. These transactions are more complex, and everyone will benefit from detail oriented, experienced advice

Home Inspector

Once you start viewing properties, your group may want to make an offer at any time. To do this adequately, pre-select a home inspector who can be quickly available. The Husmates Team has a list of qualified inspectors available for your group to chose from.

Completed Home Brief

Your Home Brief is an extension of the Needs, Wants, and Dreams work you did in Step 1 when reviewing your compatibility with your prospective purchasing group.

Creating Your Home Brief

Now it’s your turn. Gather your group and create your Home Brief. This document builds on the foundation of your Group Agreement and budget. Use it to establish a shared vision of your ideal property. Review your Home Brief with your real estate agent to ensure it’s realistic and aligns with your budget.

Moving Forward

Once you have your completed Home Brief and have reviewed it with your Husmates realtor, you can start looking at properties. In the next section, we’ll break down the different types of properties your group might consider. Being well-prepared and clear on what you’re looking for will help your group act quickly and secure your dream co-owned home. Happy house hunting!