CANADA

First Time Home Buyer Tips

Ever wondered what you should know before jumping into the world of home ownership?

Well, stick around for some valuable and unbiased advice.

Expert Advice

First time home buyer tips to consider during the planning stage.

PLANNING

STAGE

What to consider:

01

Down Payment

Begin saving for your down payment early.

What to consider:

02

Other Costs

Don't forget closing and moving cost. 

What to consider:

03

Manage Debt

Get any existing debt under control.

Know what you want:

04

Prioritize

Don't get distracted by all the possibilities of your first home.

Know what you want:

05

Must Haves?

Focus on your "must-have" home features and stay on track.

Know what you can afford:

06

Calculate It

An online mortgage affordability calculator can help!

Homeowners Guide

Find a mortgage that is best suited for you: Interest rate, term length, and type of mortgage.

MORTGAGE

ADVICE

Types of mortgages:

07

Open vs Closed?

Personally, I'd go with an open mortgage.

Take advantage of incentives:

08

Govt. Incentives

Home Buyer's Plan (HBP) and GST/HST Housing Rebate.

Know your purchasing power:

09

Get a Mortgage Pre-Approval

In only 5 minutes.

In Just 5 Minutes:

10

Get the Best Mortgage Rate!

Home Buyers Guide

Now the fun part! But you want to avoid some common pitfalls along the journey.

SHOPPING

TIPS

Carefully pick a real estate agent:

11

Choose Wisely

Ask family and friends for referrals. Check online reviews.

Stay within your budget:

12

No Temptation

Set a price range and commit to it.

More on First Time Home Buyer Tips

What neighbourhood is right for you?

Managing the upkeep of an older home