"Whether you're a first time buyer or a seasoned Real Estate purchaser- having the assistance from a professional REALTOR, will ensure that your investment is in the best and most experienced hands" 


Regardless of your past Real Estate experience, PURCHASING 101 is always a good idea to get a good refresh on what to expect when you're in the market to purchase.


     Purchasing a property is an exciting and fulfilling experience. However, most first time home buyers and even experienced buyers, may feel plagued with worry of entering into the uncharted waters in which they worry “ if they’re getting in over  there heads”  The experience of purchasing a home doesn’t have to be scary, and a property first timer is more likely to have a  pleasant first experience when they are made well aware of what lies ahead.


Here’s a list of what you can expect, when you don’t know what to expect.


1. Mortgage pre-approval:

Be it with your bank or a trusted mortgage broker, it’s best to meet with someone to discuss a mortgage prior to searching for a property.  Getting a mortgage pre-approval is a really good idea, because some home buyers can often either under estimate or over estimate what you can afford. Moreover, Banks and Mortgage professionals can show you several ways to gather some more cash for your big purchase, ie using RRSP’s. See a mortgage professional for details.


2. Finding a REALTOR:

Although there tends to be a plethora of Realtors in any given market- therefore finding the right Realtor is very important to your success as a first time home buyer.  Don’t be afraid to interview a few agents. Remember you are trusting this person will help you make biggest purchase  decision of your life thus far, as you want someone who is working with your best interest in mind.  Not only do you want to choose a Realtor who is knowledgeable and experienced in the area that you are looking to buy, you want to be able to feel an element of rapport, trust and loyalty- where all lines of communication are open to both yourself and your chosen Realtor.   Remember, loyalty in any given relationship is a two way street!


3. Thinking ahead can be beneficial: 

Considering  your lifestyle and career demands prior to searching for a new home, is a no brainer. However,  as clear as your current situation may be to you, you may not have been expecting to have needed a 2nd bedroom for  a “little Jr.” so soon .  I enjoy taking newly married or cohabiting couples through properties, in which they often make a coy passing remark that “ the office would also make a good nursery one day” Think 3-5 year plan....

4. Land Transfer Tax-

 First time home buyers are eligible for a land transfer tax rebate

See the following links for more information.

Land Transfer Tax Refunds For First-Time Homebuyers


5.  Condo Fees: ( if Applicable)

Condo Fees or Maintenance fees are fees which are part of a monthly payment made by each unit owner to the condominium corp. which cover the operating expenses of the building. Eg costs, for maintaining the grounds, the amenities such as the gym or pool, elevator and halls ways etc.  Maintenance fees are collocated on square footage of each unit. 


6.   More Things to consider:

Legal fees: Required for facilitating closing of a property

 Moving costs: Moving furniture, truck rentals and professional movers etc.