Your home-buying education needs to start well before you view your first listing. Here are a few questions to ask yourself.

Why am I buying a new home?

• Know what's really compelling you to move, and the difference between what you need and what you would like to have.
• Is this a short-term investment for profit-taking, or a place you hope to live long-term?
• What is it about your current home that has become a negative for you?

What is my price range?

• Learn what you have to spend by getting pre-qualified for a mortgage. In most cases you can do this with a short phone call to a mortgage broker.
• Aside from initial purchase costs, remember to factor in such items as monthly maintenance fees, property taxes, utilities and so on. These vary widely between apartments, townhomes and detached houses, and between different neighbourhoods and communities.
• Would having additional space to rent out be of benefit to you?
• Are you hoping to save on the purchase price by purchasing a home in need of renovation?

Where would I like to live?

• Which areas interest you - Eastside, Westside, Downtown, North Shore, or more 'rural'?
• Think about what size and type of home and neighborhood will best suit your lifestyle, and what amenities you need for your family now and in the coming years.
• Would you like a more established, settled neighbourhood or a brand new, contemporary mini-community of townhomes and condominiums?
• Are you willing to search in a less 'popular' area that is also less expensive?
• Is proximity to good schools, daycare and recreation centers important - or will pending family events make it so in future?
• Are you an avid gardener, or is yard work and outdoor maintenance a chore you'd rather avoid?
• Do you rely on public transit? How much of a commute to work are you willing to make in terms of time and distance?
• Is it important that friends and family be close by, or have easy access?
• Is there anything about your present location that you would like to avoid in your next home?

What should I look for in a REALTOR©?

• A good REALTOR© is your partner in what may be the biggest investment of your life. He or she is your best information resource - one who starts by listening to you, knows the areas you want to search in and then seeks out suitable listings, advises you about the market and comparable sales, points out possible pitfalls and how to protect yourself during and after the purchase, discusses government funding programs that may be available to you and so on.
• When you have found a property you want to purchase, your agent will counsel you as to how much to offer, negotiate with the sellers on your behalf, and ensure the closing details are properly attended to.
• Most good REALTOR©s maintain an up-to-date website that offers their clients valuable information about the buying or selling process in general, as well as about specific listings. The more information you have, the better because when it comes to buying a new home - knowledge is power.