First-Time Homebuyer
Your most important purchase…ever!
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Dream it.
Your first home purchase is the most important purchase you will make. Even if you go and buy bigger and more expensive properties…it all starts with this one. And there is so much you don’t know about what to look for, where to start, and how to do it all. That’s what I’m here for.
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Buy it.
From our first meeting, the client consultation, to a sold sign, I’m here for every step. One of the most important things is to trust your REALTOR® so find someone that you can talk to. And talk away - I’m here to listen to everything and consolidate all of the information in the right house at the right price.
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Love it.
Your first house doesn’t have to be perfect. In fact, it probably won’t be. But it’s about seeing the vision of what it could be to you - a building block to your dream home. When properly loved, homes appreciate in value and when you invest more into the home, it appreciates even more. So appreciate your time in the property.
The Client Consultation
This is a meeting between me (the REALTOR®) and those who are involved in the purchase of the property. Whether you are single, a couple or a family, I want to sit down with you and talk about your goals with this purchase and what you are looking for. I will also talk to you about what you can expect from me and what I need from you in return. Even if you are wanting to bring others with you to the properties when we are looking (aka your parents, your handy uncle, or your best friend’s neighbour’s cousin who has a good eye for property), they don’t need to be at this meeting.
This meeting is ESSENTIAL! If I’m not the right person for you, then I want you to go and find the right person. I can’t help everyone and I want you to have the best experience possible. If it’s not me, then maybe I know someone who would be the right fit.
At this meeting we are going to talk about:
Financing the purchase
The buying process
What you are looking for (or not looking for) in a property
An Agreement of Purchase and Sale
If you are thinking that we would be a good fit, then let’s book a meeting and get started.
Click on the button below to book a client consultation meeting today!
FAQs
How much do I actually need for a down payment?
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In Canada, the minimum downpayment for a home under $500,000 is 5% of the purchase price. So if the purchase price is $350,000, then your downpayment is $17,500. If you are able to put down 20%, then your downpayment is $70,000. Anytime you put down less than 20% of a downpayment, you are required to also utilize mortgage insurance. This will add a small amount to your monthly mortgage payment.
It is always a good idea to talk about different options with your mortgage broker. Maybe you can afford to put down 7% as a downpayment, but the smarter plan is to keep the extra 2% as cash on hand and only put the 5% down.
Do I need a lawyer, and when do I get one?
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You will need a lawyer to help bring you to the finish line of the purchase. However, you will not need the lawyer until you have an accepted offer. If you know someone that you would like to use, then that is great. However, we also have great recommendations that we can give you and we always give multiple recommendations to choose from.
How long does the whole process take, start to finish
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The process can take as long as you want it to take. If you are in a rush and are more flexible on the home you buy and have a more flexible budget, then the process will probably go a bit faster. If you have a smaller budget or are more particular about the house/geographical area that you are purchasing then the process may take a bit longer to find the right property.
From the time that you have you have an accepted offer until the sold sign goes up, it is usually about 10 days - 2 weeks. From then to the closing day, it can range from a month to a year, depending on what is decided in the offer of purchase and sale, but 1-2 months is most common.
What's a home inspection going to cost me, and is it worth it?
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An inspection can cost anywhere from $600 and up, depending on the size of the home. Right now, many of the inspections that we are seeing are averaging around $700, but for larger homes, or with added inspection features, they would be more expensive.
I would always recommend getting a home inspection, even on a new build. There are always things that are missed by a builder and there are always issues that can be rectified by the home owner or you the home buyer to ensure that the home is not being damaged. This year (2026) I have been at the inspections of 2 new builds and in both the seals on the kitchen sinks both leaked! That alone probably saved both home owners the cost of the inspections.
PEI Down Payment Assistance Program
The Down Payment Assistance Program (DPAP) is a pilot program to assist qualified residents of Prince Edward Island, who have modest incomes, in purchasing a first home.
Mortgage Rates
The Bank of Canada sets the overnight rate which mortgage lenders then use to set their mortgage rate.
Mortgage Insurance
If you are putting less than 20% down on the purchase of the property, you are required to also have mortgage insurance. This payment is included on your total mortgage payment.