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House Hunting is tough, there’s no doubt about it. It’s stressful and time consuming and there’s a lot to know if you want to do it right.

Here’s some dos and don’ts that can help guide your hunt and make sure you make an offer with confidence on the best home for you.

Do set a Budget

A lot of hunters think that a few thousand dollars paid over 25 years is so big deal. While you shouldn’t let your dream home slip away, every dollar counts and there will be interest paid on every dollar borrowed for the purchase. It’s okay to be flexible but still wise to set a budget.

Do Invest in a Home Inspection

You need the trained eye of a professional to inspect the plumbing, appliances and to determine if there’s any lingering problems or potential ones on the horizon. The average person doesn’t have this knowledge or these skills, making a professional home inspection a worthy investment.

Do Shop for a Rate

The interest rate and associated terms are crucial to your financial health so make sure you are getting the best deal. To do this, you need to shop around and be well informed about the future prognosis of mortgage rates to see if waiting a bit makes sense.

Don’t Trust Every Word of a Listing

Listings are ads. They are designed to intrigue and entice, to compel the reader to take the next step. There’s also a lot of grey area and it’s easy for agents to play with wording. How new do “new appliances” have to be for it to be accurate? Impossible to answer and those who craft listings know that.

Don’t Overbid just for the sake of Winning

Bidding on a house or condo is thrilling. The anticipation can be a rush and that moment where your bid is chosen is a feeling of total euphoria. It’s important to know that while winning is great you want to pay fair value, which means curbing any impulses to blow your opponent out of the water.

The biggest do of all is to surround yourself with knowledgeable professionals that you trust and who can guide you on what to do and what not to do, helping you come out on top.

When it comes to finding a home in or around Toronto in the current real estate climate, it can be easy to get discouraged. Here are some important aspects to look for, procedures to follow, and matters to discuss when searching for a new home.

Set a Firm Budget 

Figuring out how much you can afford to spend is the first step necessary before house hunting, factoring in a down payment and monthly mortgage payments going forward. Most people require a pre-approval from a reputable financial institution to increase their chances of making a quick offer upon finding a home they wish to buy. As bidding wars may ensue, avoid the temptation to increase your spending limit beyond the parameters you and your lender have set. Chances are, it will be rejected anyway.

Keep an Open Mind on Location

As a commuter city, with growing traffic congestion but increasing efforts to improve public transit, many Toronto residents live over an hour away from where they work. If having three bedrooms and two bathrooms, a garage and driveway, backyard, and possibly even space for a rental unit in your garage are top priorities, you may need to compromise on geography.

However, there are many areas impressively developing beyond the central and downtown borders. The city has numerous pockets growing in both popularity and population. Pay attention to schools, restaurants, and other amenities in the neighbourhood, as well.

Find the Right Realtor

A professional real estate agent will have significant expertise, and greater insight into what homes are available, demographics, and price patterns both in buying a new home and—if applicable—selling your current one.

As with most major financial matters, while you may not require the help of a professional, it is often better to receive advice from someone with industry knowledge. Overall, they can help you find the right home within your budget and in a suitable location.