How to buy your new Toronto home remotely

Do you want to move to Toronto and find the perfect home for you but have a distance problem? One of the solutions will be to buy your new Toronto home remotely. It will help you save a lot of effort, time, and potentially money. As one of the top relocation companies in Canada, we can help you relocate to Toronto. However, beforehand, you want to find a home. Thankfully, you can do so from the comfort of your home. Check out the things to consider if you opt for this step.

The rise of remote home buying

One thing is certain, the rise of remote home buying is here. From the COVID-19 period to today, the number of homes being sold this way has grown. The fact that a lot of people are working from home is also a big factor when it comes to this type of purchasing a home. This has an impact on the real estate market. For example, real estate agents need to change the way they operate in some capacity. As a result, home buyers have virtual tours and even drone footage of the home available at the click of a button. This trend is expected to grow in Toronto and beyond as it’s a very convenient way to buy a home.

Do you want to save time and money? Then, buy your new Toronto home remotely

Keep your first steps traditional

Even with many advancements when it comes to technology and new ways to buy a home, you still need to take care of some steps in a traditional manner. Before you even think about long distance moving and what Toronto offers as a city, there are details that you want to take care of. Let’s analyze certain parts of the home buying process that you want to do the old-fashioned way, including:

• Defining your budget and priorities
• Researching neighborhoods in Toronto
• Finding a real estate agent in the area you trust

Define your budget and priorities before you buy your new Toronto home remotely

The real estate market is something that is always changing. For that reason, it’s always necessary to prepare as much as you can. Firstly, start with your budget. The average home sold price in the Greater Toronto Area (GTA) is around $1,084,692, with a 3.2% year-over-year increase. Before you start remotely exploring the province to province movers and options when it comes to Toronto, this is a number you can’t overlook. Besides that, you also want to know exactly what you want from your home. How many bedrooms do you need? Are there certain amenities that you’re looking for? Make a list and find what you absolutely need to have in your new Toronto home.

Research the neighborhoods of Toronto

Finding the right place to call home is essential. When you already know it’s Toronto, there are still some details to consider before getting in touch with long distance movers Ontario residents recommend. Above all, not every part of the city is the same. Ask yourself some crucial questions. Are you looking for a family-friendly neighborhood with quality schools? Do you seek entertainment as your priority? It’s even a good idea to check out some of the best neighborhoods to rent in Toronto, as it can help you find a good place to buy in. The more information you have, the easier it will be to find the right place for you. Here are some of the most popular neighborhoods in Toronto to check out, including:

• Danforth
• West Queen West
• Runnymede-Bloor West Village
• Avondale
• Wellington Place
• Yonge-Doris

Find a real estate agent you can trust

A good real estate agent with knowledge of Toronto is always going to be helpful. Even if you can do research online, when you want to buy your new Toronto home remotely, it’s a good idea to have an expert who has the necessary knowledge of the area. The same goes when you look for long distance movers in Toronto. Above all, you want professionals handling the work for you. Having a real estate agent you can trust will help you find the right place for you and make the whole process of buying a home much smoother.

Have a quality real estate agent on your side

Take virtual tours of homes

Virtual tours will help you in so many ways. They save you a lot of time and effort when it comes to buying a home and ensure that you check everything that you need to see. For example, 3-D tours will enable you to check every part of the home without the fear of overlooking something important. There’s really no fear of forgetting to check something, as with high-definition cameras, every single detail will be shown to you. When you buy your new Toronto home remotely, you won’t be at a disadvantage to the people who are buying their homes in a traditional manner.

Take advantage of online tools and apps

In a world full of technological advancements, apps and online tools are plenty for a variety of tasks. You can count on them to be of assistance to you and help you find the right home. However, before you use them, it’s necessary that you analyze your needs to pick the right home. There’s no app that could find a place to call home for you. Besides that, they can do almost everything and provide you with the information you need. Here are just some of the apps we’re sure can be helpful in your search for your perfect Toronto home:

• Redfin
• Zillow 3D Home
• Centris
• Zolo
• REW

Let an expert do the inspection for you

A home inspection is a huge part of the home-buying process. You can’t successfully buy a home in Toronto without inspecting it to the smallest of details. One of the advantages of a virtual inspection is that you can see for yourself the inspection while there’s an expert checking out your home. And let’s not forget about the cost-benefit of such an inspection as they are less expensive. Think about it. There’s no need for you to travel to Toronto, so the transportation costs are out of the way. And if you’re far away, you don’t have to book any accommodation. Overall, it’s a big win for your finances.

Even inspections can be done remotely

Negotiate the price that fits you

When you negotiate the price of your future Toronto home, it’s s necessary to prepare as much as you can. Are there any renovations necessary? What is the condition of the home? Is it in a promising area of Toronto? All of that will impact your position when it comes to negotiating. For that reason, before you talk with the owner, make sure that you have a lot of information ready to support your offer and potentially lower what the seller wants for the home.

Online options when you buy your new Toronto home remotely

Such a modern approach to buying a home requires modern options. Thankfully, there are a lot of options that you can count on when it comes to financing. For example, e-notarization and e-signature will speed up the process of buying a home. Of course, there are steps like ID verification and others that you need to take into account. However, it’s important to notice that it’s a far quicker and easier approach when you want to buy a home.

Take advantage of your online tools

Don’t forget the legal challenges of buying a home remotely

Purchasing your home is not a task that you approach lightly. For that reason, we want to help you cover the legal part of remotely buying your home in Toronto. Every step will be important as mistakes can have huge consequences. Let’s get over the most important legal challenges that you want to take care of, including:

• Changing your address
• Insuring your home
• Educating yourself about taxes
• Analyzing your contract

Change of address and other details

A change of address should be done for more reasons than for tax and other legal reasons. Another reason to change your address is so you can change your driver’s license as well. Setting up your local bank account will also not be possible without you doing all that is necessary beforehand. Also, healthcare in Toronto is something that your change of address impacts. Consider having at least Ontario’s public health insurance (OHIP) cover basic medical expenses. All of that is not possible before you change your address and get everything else ready.

Importance of home insurance

In order to feel at home in Toronto, you want to have insurance for it. Of course, this will need to be in your budget, but it will be well worth it. Thankfully, it’s a task that you can even handle remotely, and it doesn’t take a lot of your time. The insurance will range from $1,500 to $2,500 depending on how big it is and where it’s located. Besides that, there are several factors, such as the uniqueness of the home, its value, replacement value, construction aspects, and the chosen coverage and deductibles. Take all these into account when you get insurance for your Toronto home.

Don’t forget about insurance when you buy your new Toronto home remotely

Understand property taxes in Toronto

Property taxes are something you can’t avoid, whatever way you decide to approach buying your Toronto home. Overall, understanding taxes in Canada will also be extremely important. For residential properties, the proposition is that the taxes should rise to 10,5%. That is almost a certainty, so make sure to prepare for that increase. When buying a home remotely, it’s essential to factor in these tax implications to ensure a comprehensive understanding of the financial responsibilities associated with property ownership in Toronto.

Carefully go over every detail of your contract

A contract comes with serious legal consequences. For that reason, you absolutely want to check every detail of it before actually signing it. Check the cost and if it’s the same in the contract as the one that you negotiated. Are there any details that you talked over with the seller? Don’t sign anything before you ensure that every detail you agreed upon is put into a contract. In case something is missing or there’s something that wasn’t negotiated, make sure to contact the seller. You absolutely don’t want to be careless with something as important as a contract.

Make sure to handle moving to Toronto in a smooth manner

Making a move to Toronto will be the final part of the task after you buy a home. In order to make the relocation a success, you want to keep yourself as informed as possible. Find quality and affordable movers that can help you with packing, heavy lifting, and everything else that comes with a relocation. Of course, quality moving services will be most valuable in helping you enjoy your new home quickly and without thinking about the stress of relocation. Do some research and find a company you can trust, especially if your Toronto move will be a long-distance one.

Hire quality movers when it’s time to relocate to Toronto

Feel at home in Toronto

A smart choice in home buying will make all the difference. When you buy your new Toronto home remotely, you’re making a decision not a lot of people are making, but you can end up with a lot of benefits that a lot of people are not getting. With a home that fits your needs, your life in the city of Toronto will also be so much better. Our advice will help you with the transition and finding the right place for you.

References:

https://wowa.ca/toronto-housing-market