Frequently asked questions
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Enough for the down payment your lender requires, plus all transaction costs, plus an emergency reserve of at least six months of essential expenses that you do not touch. Chapter 01 of the Home Buying Guide shows how to build the full cost sheet.
New homes usually need fewer immediate repairs but carry delivery and finishing risks. Resale homes let you see the building, neighbours and management as they really are but may need updating. Compare both on total cost and risk, not just price.
For any property you are serious about, yes. A qualified engineer or inspector can identify structural, electrical and plumbing issues that are easy to miss during a viewing and expensive to fix later.
Only after the ownership documents have been examined and found in order, and only against a written agreement and a receipt that names the property. Chapter 05 explains what to check.
Compare the total amount you will repay over the full term, including processing, valuation, legal and insurance costs and early-repayment penalties — not just the monthly instalment.
No. Pre-approval indicates what a lender may consider based on your profile. Final approval usually depends on the property passing the lender’s valuation and legal checks.
Fixed rates give certainty; variable rates can start lower but change over time. Whatever you choose, test whether you could still afford the instalment if rates rose by two or three points.
Compare similar units nearby by size, floor, age, parking and services included. Price to let within a few weeks; long vacancies usually cost more than a slightly lower rent.
Rent and due date, payment method, deposit terms, the length of the tenancy and notice periods, repair responsibilities, rules on subletting and alterations, and how disputes are handled — with a signed inventory attached.
It depends on local practice and the condition and furnishing of the unit. Whatever you agree, record it in the lease, state what it may be used for and return it promptly with a written breakdown.
Generally the owner handles structural elements and major systems, while the tenant handles day-to-day care and damage they cause. Spell this out clearly in the lease.
Yes. All guides and checklists on this site are free to read and print for personal use.
No. We do not list, sell or broker property and accept no commission or referral fees from sellers, developers, lenders or agents.
No. We provide general guidance and informed second opinions. For formal legal opinions or representation, please consult a qualified lawyer.
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