Buying a house

1. What kind of house should I choose to purchase?

Before discussing what makes a good house, let's classify different types of houses based on their exterior structure and ownership.

This refers to the ownership structure where there is joint ownership and individual ownership in a building. It is not necessarily a high-rise apartment, although it is often perceived as such due to the good interior facilities. There are convenient shared facilities provided within the building, but the maintenance fee is expensive and the interior space is relatively small.

A row of detached houses connected by a common wall, similar to a condominium in terms of easy management, but with a more individual home atmosphere. However, the maintenance fee may be slightly higher and the space may be more compact than a detached house.

This is a type of house where two detached houses are connected by a wall to improve land use efficiency. It provides a similar atmosphere to a detached house, but there may be some privacy issues, and it may be difficult to maintain and repair the roof and exterior of the house.

A single-story detached house without a second floor, which may not provide as much privacy within the family, but ensures privacy with neighbors. It is a suitable structure for children and elderly people as there are no stairs except where needed.

A two to three-story detached house with a relatively large living space compared to the land area, and the best overall structure to ensure privacy on each floor.

2. In what order do I buy a house?

3. Mortgage

4. The process of making an offer

5. Selecting and establishing a relationship with a Realtor (Agent)

During the process of conducting an offer and in the relationship between realtors and customers, there are many important factors and contents, but for now, I will summarize a few major points. The role of a realtor in the Greater Toronto Area is quite different from that of a real estate agent in Korea. In particular, selecting a realtor is as important as selecting a spouse in the process of immigrating and settling down. It is not just important to sign a contract for a house right now, but rather, depending on the realtor’s views, vision, and attitude, and the impact they have on the immigrant family, they can play a very important role in the stability and prosperity of the household economy for 5 years, 10 years, or even beyond into retirement.