You're not alone—and you don't have to figure it all out by yourself!
For most Canadians, buying a first home is one of the biggest (and most exciting!) financial decisions they’ll ever make. While there’s a lot to consider, the long-term benefits of owning your own space are worth every step.
Here’s a helpful checklist to guide you—and some real-world tips to give you the confidence to move forward.
You’ll need at least 5% of the purchase price, but if you can save more (ideally 20%), you’ll unlock better mortgage rates and avoid mortgage insurance costs.
TIP: Don’t max out your budget! Buy comfortably below your limit so you have room for homeownership costs.
Before you apply for a mortgage, check your credit! This gives you time to fix errors, pay off small debts, and boost your approval odds.
TIP: A better credit score = better rates, so the sooner you review it, the better.
Compare lenders! Talk to banks and mortgage brokers to find the best fit for your needs. Don’t settle for the first rate you see—this is one place you can save thousands.
TIP: Ask about closing costs and hidden fees so you're not caught off guard.
Once you choose a lender, get pre-approved before you start house-hunting. Pre-approval gives you a clear budget and makes your offer stronger when you’re ready to buy.
TIP: A pre-approved buyer stands out in a competitive market—don’t skip this step!
Know what matters most to you. How many bedrooms do you need? Is a yard important? Will you need a home office or future nursery? Decide your “must-haves” and “nice-to-haves” now.
TIP: Be flexible—no home is perfect, but the right one will feel like home.
Location matters just as much as the home itself. Check out potential areas at different times of day. Look at commute times, schools, parks, and future resale value.
TIP: Think long-term—your first home isn’t just where you live now, it’s an investment in your future.
Beyond your mortgage, you’ll need to budget for property taxes, insurance, utilities, and maintenance. Knowing the full cost of ownership helps you buy smart.
TIP: Ask sellers for utility cost history to get a clearer picture.
An inspection can uncover costly surprises. Even in a hot market, it’s worth it. Better safe than sorry!
TIP: If you're handy, consider a “light fixer-upper”—you might get more value and build equity fast.
This is key! A trusted, experienced Realtor will walk you through every step—from home tours to offers to closing—and protect your best interests. You only need one. Choose wisely.
TIP: Ask questions. A good agent will never make you feel rushed or confused.
Let’s talk about your goals, answer your questions, and create a plan that feels right for you. Whether you’re 6 months out or ready to buy tomorrow, I’m here to help every step of the way.
📞 Call today or fill out the form below to get started. Your first home is closer than you think!