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First-Time Buyer


First-Time Buyer

Congratulations! Purchasing your first home or even thinking of purchasing your first home is an exciting chapter.

You will be amongst hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future and establishing a home your family can call their own. Your hard-earned money contributes to your mortgage, not landlords, and over time your homes will likely increase in value and the equity you earn is ultimately yours!

Check out the attached checklist we have created for first time buyers.

A proper balance of these important items along with the following 5 steps to take will put your foot in the door. Hopefully your own door very soon.

1. Pre Shop

Use the internet, Craigslist and social media to get a rough idea of some homes that may fit your criteria in a neighbourhood you may want to move into.

2. Get Pre-Approved

Talking to your bank and or a Mortgage Specialist and obtaining pre-approval is a must in todays' ever changing economy. Becoming pre-qualified for a mortgage (assuming you need a mortgage) will give you an idea on what you can afford to purchase as well what your expected payment stream will look like. Plus once we find a property or properties to submit an offer to purchase, your credibility with the seller and sellers' agent is greater.

3. Viewing Homes

Now the fun begins! This can be an emotional time and sometimes stressful. However, in our experience, viewing the home is both a learning experience for the buyer and the seller. Using the checklist above and relevant information available about the home(s) viewed, the buyer will begin to prioritize the list of Wants and Needs. A good balance of these two factors will determine which home is right to submit an offer.

4. Preparing an Offer

So you found the home or homes you want to purchase. The next step is the offer. Working with your realtor you will discuss a number of things not limited to and including price, (you don't want to over pay) terms, subjects and conditions.

5. Closing/Moving

You are almost there! Many things are going on "behind the scenes" at closing date including the home inspection (assuming that is a subject) and surveys and searches by a lender or land survey (which is required) will be taking place. Further, a lawyer you hire will be managing the legal matters such as transfer of title. Your finances should be in place by this date. The next step is moving in! Make sure, of course, all keys, garage door openers and other relevant items are gathered and passed on. It is a good idea to have your insurance placed on this date and to re-key the locks, and or change alarm codes this day as well.