Getting pre-approved for a mortgage is an exciting step in your home buying journey. It means a lender has reviewed your finances and confirmed how much home you can afford. But what comes next?
Whether you’re looking for your dream property in Kitchener-Waterloo or just searching online with the keyword “home buy near me”, you’ll want a clear plan after pre-approval. In this article, we’ll walk you through the first 5 things you should do to keep your home buying process smooth and stress-free.
1. Finalize Your Budget (Including Hidden Costs)
Pre-approval tells you how much the bank is willing to lend, but that doesn’t mean you have to spend the full amount. Take some time to calculate what monthly payment you’re comfortable with. Also include other costs like:
- Closing costs (1.5% to 4% of the home price)
- Property taxes
- Insurance
- Maintenance and utilities
If you’re home buying in Kitchener & Waterloo, ON, these costs can vary by neighborhood. A little extra buffer in your budget goes a long way.
💡 Tip: Many Indian families also consider space for parents or a prayer room—plan ahead for what truly matters to you.
2. Hire a Local Real Estate Agent
Working with a trusted local agent who knows Kitchener-Waterloo well can save you time and effort. They’ll help you:
- Find homes within your budget
- Understand each neighbourhood’s vibe
- Schedule viewings and compare properties
- Negotiate with sellers
Instead of scrolling endlessly through “home buy near me” listings, your agent can filter options that actually match your needs—whether you’re looking for a townhome, condo, or a detached house.
💡 A good agent is also your guide through paperwork, inspections, and local laws.
3. Start Touring Homes Strategically
Now it’s time to go house-hunting! Create a list of “must-haves” and “nice-to-haves”—this keeps you focused. For example:
Must-haves:
- 3 bedrooms
- 2 bathrooms
- Good school nearby
Nice-to-haves:
- Finished basement
- Large backyard
- Close to Indian grocery stores
Stick to your budget and priorities. Your agent can also give you insights on future resale value and local development plans in areas like Doon South, Huron Village, or Laurelwood.
4. Don’t Make Any Big Financial Changes
After pre-approval, your financial situation should stay stable. Avoid these common mistakes:
- Don’t switch jobs suddenly
- Don’t open new credit cards
- Don’t buy a car or take a big loan
Lenders will review your finances again before final mortgage approval. Any changes could affect your eligibility or loan amount—so play it safe until the deal is closed.
✅ Stay in “financial quiet mode” until your keys are in hand.
5. Learn About the Offer & Closing Process
Once you find a home you love, things move fast. Prepare yourself by learning how the offer process works in Ontario:
- Making a competitive offer
- Including conditions (inspection, financing, etc.)
- Negotiating price and terms
- Home inspection
- Final mortgage approval
- Closing day and moving
Understanding this process in advance makes you confident and ready to act when the right home appears.
💡 Bonus: Ask your agent or lender for a checklist or calendar so you don’t miss any key dates.
Final Thoughts
Getting pre-approved is a big milestone—but it’s just the beginning of your home buying journey. With a clear plan, the right team, and smart decisions, you’ll find a home that’s perfect for your needs and lifestyle.
So whether you’re just browsing listings with “home buy near me” or getting serious about home buying in Kitchener & Waterloo, ON, follow these five steps and you’ll be on the path to your new home—confident and well-prepared.