The rent to own process can have many ups and downs, but having experts who are there to guide you can save you a lot of time, frustration and heartache. In our latest ‘Ask The Expert’ episode, we talked with Calgary real estate expert Sue Saunders who walked us through the process of finding the perfect home.
This topic hits close to home for Shaw-Roco founder, Shawna Roch, “I was actually at a point in my life where I went through a divorce and I was struggling to keep my existing house and thought I could keep it. But it turned out I was coming close to a foreclosure. So I had to decide what to do. So in that situation, I ended up finding Sue. She sold my house for me and then I purchased a condo. And now here we are over 16 years later, it was the start of this friendship. And she kept in touch with me all these years which is why I was excited to have her share the process for finding a home.”
What is the process of finding and buying a home?
After you’ve contacted Shawna and you’ve determined that you’ll participate in the Shaw-Roco rent to own program, then we’ll engage a real estate expert, such as Sue Saunders. We’ll discuss things like budget, your wish list now your wish list, including your ideal home (single family, attached, detached, two-storey bungalow, split level, garage, finished basement, bonus room, big yard back alley etc.) We’ll cover questions such as, do you want to be near the LRT? Do you need to be near schools? Do you want a backyard? Are you handy and interested in a home full of projects, or do you just want to move right in?
Then we move on to other details. We walk through the real estate map and we’ll determine the desired communities and get your preferences set up in the system. Then we’ll choose a few dates for us to go out together based on your preferences. If you work through the day, you may want to go out looking at homes in the evenings or weekends – it is based on what works best for you.
After you’ve spent some time looking at homes with our real estate expert and you’ve finally found one that you’d like to call home, that’s when Shawna and the team at Shaw-Roco are looped back in. They will typically join you on a second showing of the home, to make sure that the property is the right fit.
The next step is writing a purchase contract – Shawna will sign it and numbers are finalized. Of course, the exciting part is moving in and you’re probably wondering when that happens!
Typically, you’re going to have a few conditions on the sale because we want to make sure that the house is worthy and worth the amount of money that you’ll pay for it. Once that’s done, we sign off that your home is conditionally sold or under contract. Once we’ve completed sign-off, and you’ve given the notice or the waiver, you’ve officially bought your home. It’s now time to pack.
On possession day you check out the property and make sure it still looks the same, everything’s in good shape. If everything is good-to-go, you get to move in!
What is the best time to buy a home in Calgary?
There’s a season for everything thing. And this happens to be the season for real estate, usually in the middle of January till the end of May – but June is usually when the majority of homes are sold. We take a break for the summer.
What do you need to consider before buying a home in Calgary?
When we talk about buying a house, we need to think about the long run. Is the area somewhere we want to be 5-10 years from now? How much is this house going to be worth down the road?
Having somebody like Shawna and Sue to help guide you is important. We know that everybody has their own story and their own situation, so integrity, trust and compassion is how we approach every rent to own situation. And that’s why we only team up with experts like Sue, as well as mortgage people, home inspectors, lawyers so that our tenants have a whole team behind you and you’re never alone.