A trusted and experience real estate agent is recommended to offer professional advice and walk you through the stages of the transaction hassle free.

This is a personal choice, for example, in building a home, you get the opportunity to design and enjoy the progress step be step, seeing first hand what the contractor is doing.

If however, your desire is a turn key experience with no hassle of building and possibly incurring cost over-runs, then an already built option may be right for you.

Downpayment is usually 10% of the cost of the property. Your savings should include your 10% and closing fees as banks usually will not lend the downpayment and closing fees.

The approval process is based on your ability to repay the mortgage which is shown by your income and job tenure or for self-employed persons, 3–5-year financials and cash flows.

Visit your financial institution to get pre-qualified, as this is the first step of the home ownership process.

There is no suggested number of homes one should view before making a decision. You may stumble upon your dream home on the first viewing as you know exactly what you want.

It is however wise to shop around weighing the pros and cons before deciding on what’s right for you.

Legal fees are determined by the attorney and can include the following:

• Sales agreement
• Deed of Mortgage if applicable
• Deed of Conveyance
• Searches
• Stamp duty

Other fees are valuation costs and bank service charges.

One should get a quotation on their fees before entering into an agreement to purchase a home to ensure you can cover the closing fees.

This is a term used to describe a bank account that is used to hold third-party funds by an attorney or real estate broker pending the performance or completion of a transaction. Typically used to hold the downpayment when purchasing a home.