Top 5 Tips For First Time Home Buyers

1. Determine how much you can afford

This should be first thing you should do. Talk to mortgage professional such as Mortgage Broker and check how much you can afford.

2. Prepare a Budget – Do not forget about the closing costs

There are some closing costs involved such as property transfer tax, lawyer’s fees, moving fee etc. The cost would vary and will depend on the purchase price.

3. Tax Credits

Talk to your accountant about tax credits. Fortunately, there are some tax credit available for first time-home buyers. Also talk to your accountant or Financial Advisor about the RRSP Home Buyer’s Plan.

If you have a Registered Retirement Savings Plan (RRSP) set-up, you can borrow money you have saved in this plan to probably use it for down payment.

4. Prioritize your preference

Based on your affordability, check what you would prefer condo, townhouse, or detached house.

5. Work with great real estate agent

Make sure you work with a trusted & reputable real estate agent. Finding the Right Home starts with choosing the Right Realtor. Once you know the price you can afford & your budget is in place, talk to your trusted Real Estate Advisor to check the prices of the properties in your preferred neighborhood. A Real Estate professional can set up an automatic search for you so that you get a notification as soon as a listing that meets your criteria gets listed.

Enjoy your home buying experience!

—————————————————————

Neeraj Kumar is a Real Estate Business owner who operates in Metro Vancouver. He is a Yoga Enthusiast and an active member of the community. Visit www.linkedin.com/in/kumar-neeraj to connect with Neeraj on LinkedIn.

Share:

Facebook
Twitter
Pinterest
LinkedIn
Post submitted by
Neeraj Kumar

Neeraj Kumar

View Profile

Categories

Upcoming Events





Social Media

Get The Latest Updates

Subscribe To Our Weekly Newsletter!

No spam, notifications only about new products, updates.
On Key

Related Posts

bollywood xmas party jasneet yuva events

Bollywood Xmas Party in Surrey

It’s that time of year again! This year, Acuity events with Zee TV Canada and Yuva event are throwing a special Christmas party with all your favorite Bollywood hits! Time

hindu heritage month hindi 1

Hindi Poetry | November is Hindu Heritage Month

मनस्विनी – शिखा पोरवाल कालचक्र कानव संवत्सर बदलाविदेशी धरा परअपना परचम फहराशिखर से ज़मी तकआज भी भाल केकपाल पर भारीप्रगत विचार,ठहरें संस्कारोंकी सरीता बहाधरती से व्योम तकओम का समन्वितअनहद नाद