First Time Home Buyers

Buying a home for the first time is exciting and scary all at the same time.  It is also one of the biggest financial decisions that you will ever make. 

Mary will provide you with the highest level of customer service.  She believes your first time buying a home should be exciting, comfortable, informative and stress-free. 

Here is some information to help alleviate some of the stress and answer your many questions about getting into the housing market. 

What You Need to Know About Buying Your First Home
1. Determine What You Can Afford

Get pre-approved for a mortgage.
Purchasing a home involves one-time costs and monthly expenses, so you’ll need to determine just how much home you can afford and if you’re financially ready for home ownership. You’ll want to determine:
2. Know Your Expenses
The purchase price of your new home is just one of the costs associated with home ownership. Experts recommend that you budget 1.5% of the purchase price of your home to cover these costs.
Pre-Closing Costs
Closing Costs 3. Get Pre-approved
After you’ve figured out what you can afford, sit down with a mortgage agent or broker and get pre-approved for a mortgage. This will make your home search more focused.

4. First Time Home Buyer Incentives
As a first time home buyer you are eligible for refunds, benefits and programs not available to other home buyers. For example both the First Time Home Buyers’ Tax Credit and the Land Transfer Tax Refund for First Time Home Buyers are tax breaks that could end up saving you thousands of dollars!
Land Transfer Tax Refund
Home Buyer's RRSP's Home Buyers Plan

5. Know What You Want & Get Organized
What are you looking for?  Make a list of what you need from a home and a list of things that you want from your home. The list of things that you need will include all of the features that are necessary for you and your family to function comfortably during your daily life. ie. number of bedrooms. Also, look at all of the aspects of the location you are considering and the surrounding area: is it attractive based on your proximity to work, schools and amenities such as grocery stores, parks, commuter routes, etc.? Keep a detailed map on hand and highlight your areas of interest. Knowing what you need and what you want from a home, as well as what area will suit your lifestyle best will make searching for your new home easier and less stressful.

6. Get a Professional on Your Side
Call MARY!
She will provide you with a stress-free real estate experiences.
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