First-Time Homebuyer Tips

Are you a first-time homebuyer? We previously talked about some of the things you should keep in mind as you prepare to make the most important purchase of your life thus far. We thought it might be helpful to share some tips to help you prepare for your visit to our New Home Centre.

Start with the dollars and sense. How much can you realistically afford? Use a mortgage calculator, like this one on our website, to help determine comfortable payments that will get you into the home of your dreams. You’ll also want to get yourself a mortgage pre-approval. They are, in essence, 90 to 120-day rate guarantees that will layout how much house you can afford. This will make the process smoother should you show up ready to make a purchase. There is also a host of financial benefits for first-time buyers that you should explore – you can learn more about them here.

You’ll want to take special consideration about the type of home you’re looking for. Condos, townhomes, semis & linked singles, and detached homes all have their benefits, depending on the particular needs you and your family have. You’ll want to evaluate not only what makes sense for you today, but where you think you will be heading in the future.

Lastly, you’ll want to make sure that you take into account all of the costs associated with purchasing and moving into a home, as many expenses often get overlooked until the last minute. Planning ahead will help you budget appropriately. Here is a list of things to keep in mind.

Making your first home purchase is an exciting experience. Taking the time to plan properly, and if necessary talk to professionals, who will make the process that much easier. For some additional tips, be sure to visit our homebuyer’s guide.