First-Time Home Buyer

READY TO BUY YOUR FIRST HOME? YOU'RE IN THE RIGHT PLACE.

First-Time Home Buyer? Buying your first home is an exciting milestone, but navigating the real estate market can feel overwhelming when you are a new home buyer. From budgeting to selecting the right neighborhood, a first-time property buyer faces many critical decisions. If you are searching for affordable starter homes, you likely have questions about where to begin. Our mission is to provide the clear answers and expert market insights you need to feel completely confident in your choices.
Our team of specially trained REALTORS® and support staff is committed to guiding every beginning home buyer through each step of the journey. We provide tailored preparation, expert advice, and personalized home-buying plans with a strict no-pressure approach. Whether you are looking for an entry-level house or an urban condo, we align our strategy with your unique financial goals.

Let us help you Find your Dream House

See Featured Listings
First-Time Home Buyer

MORTGAGE BASICS FOR NEW HOMEOWNERS

First and foremost, meet with a mortgage broker to gain a clear understanding of your financial situation and how it impacts your ability to purchase your first home. If you don’t have one already, instead, we’re happy to refer you to a trusted partner who can guide you through your options.

GATHER YOUR PRE-APPROVAL DOCUMENTS

  • Income Qualification: T4s, Paystubs, RRSP, and Your Employment Letter
  • Credit Verification: Credit Report, Outstanding Debt, Past Collections etc.
  • Government Issued Photo ID: Driver’s License, Passport, Ontario Photo Card, Status Card etc.
  • Gift Letter: Obtain this document if a family member plans to contribute to your home purchase

4 THINGS TO AVOID ONCE YOU ARE PRE-APPROVED

  • Avoid making any big purchases
  • Avoid quitting or changing jobs
  • Avoid applying for new credit
  • Avoid co-signing on a loan

THE FINE PRINT OF BUYING YOUR FIRST HOME

Government Incentives for First-Time Buyers in Ontario.

First-Time Home Buyer_icon

HOME BUYER’S PLAN: enables you to withdraw funds from your Registered Retirement Savings Plan (RRSP) to buy or build a home. This program allows you to withdraw up to $35,000 without being taxed. This Plan allows you to pay back the withdrawn funds within a 15 year period.

Source: Canada HBP

HOME BUYER’S TAX CREDIT: enables you to claim up to $5000 for the purchase of a home on your personal tax return for the year of purchase. This helps to cover any closing costs.

Source: Canada HBTC

First-Time Home Buyer_icon2

CANADA’S FIRST TIME HOME BUYING INCENTIVE:

First-Time Home Buyer_icon 3

Is a shared-equity mortgage aimed at LOWERING first-time home buyers monthly mortgage payments WITHOUT increasing the amount you need for a down payment.

  • The government contributes 5-10% of the purchase price
  • The Loan is INTEREST-FREE
  • The Loan must be paid in full within 25 years of when the home was purchased and/or when the home is sold.

HOW TO KNOW WHEN YOU’RE READY TO BUY

Points to stay within your comfort zone as a First-Time Home Buyer:

  1. To begin with, aim to keep your monthly mortgage payments below 40% of your household take-home income

  2. Additionally, Save up at least 5% of the purchase price for your down payment

  3. Ideally, you want to try to keep your credit score above 680

  4. Finally, plan to stay in your new home longer than 3 years to cover your upfront costs.

Affordable starter homes for first-time buyers in Southern Ontario

Search / Filter Results
16214 results | Page 62 of 1352
12 24 48
 
For sale $219,000
313 SELDOM SEEN, Massey, Ontario

313 Seldom Seen

Massey, Ontario

2 Bedroom 1 Bathroom 1,100 - 1,500 sqft
RE/MAX Crown Realty Inc (Espanola)
For sale $599,900
475 Waterfalls Road, Walford, Ontario

475 Waterfalls Road

Walford, Ontario

4 Bedroom 2 Bathroom 700 - 1,100 sqft
Royal LePage Realty Team Brokerage
For sale $1,349,000
1305 North Shore Drive, Sudbury, Ontario

1305 North Shore Drive

Sudbury, Ontario

2 Bedroom 3 Bathroom 1,100 - 1,500 sqft
RE/MAX Crown Realty Inc. (Sudbury)
For sale $595,000
320 Perivale Rd W., Spring Bay, Ontario

320 Perivale Rd W.

Spring Bay, Ontario

4 Bedroom 1 Bathroom 1,100 - 1,500 sqft
Bousquet Realty
For sale $379,900
3550 Errington Avenue, Chelmsford, Ontario

3550 Errington Avenue

Chelmsford, Ontario

4 Bedroom 2 Bathroom 700 - 1,100 sqft
Royal LePage North Heritage Realty
For sale $1,049,000
364 Triple D Trail, Assiginack, Ontario

364 Triple D Trail

Assiginack, Ontario

6 Bedroom 5 Bathroom 3,000 - 3,500 sqft
RE/MAX The Island Real Estate Brokerage
For sale $470,000
382 7th Line, Gore Bay, Ontario

382 7th Line

Gore Bay, Ontario

3 Bedroom 2 Bathroom 2,000 - 2,500 sqft
Manitoulin Island Real Estate Brokerage Inc.
For sale $449,999
150 Queen Street, Manitowaning, Ontario

150 Queen Street

Manitowaning, Ontario

3 Bedroom 2 Bathroom 1,500 - 2,000 sqft
J. A. Rolston Ltd. Real Estate Brokerage
For sale $2,189,000
1351 Keast Drive, Sudbury, Ontario

1351 Keast Drive

Sudbury, Ontario

3 Bedroom 4 Bathroom 1,500 - 2,000 sqft
RE/MAX Crown Realty Inc. (Sudbury)
For sale $695,000
497 Whites Point Road, Little Current, Ontario

497 Whites Point Road

Little Current, Ontario

3 Bedroom 2 Bathroom 1,500 - 2,000 sqft
Royal LePage North Heritage Realty
Revel Realty Inc.
For sale $675,000
102 Labre Road, Greater Sudbury, Ontario

102 Labre Road

Greater Sudbury, Ontario

3 Bedroom 2 Bathroom 1,100 - 1,500 sqft
Exp Realty
For sale $299,999
936 Bancroft Drive, Sudbury, Ontario

936 Bancroft Drive

Sudbury, Ontario

2 Bedroom 2 Bathroom 700 - 1,100 sqft
RE/MAX Crown Realty Inc. (Sudbury)

Curious about Buying a Home?
Get in touch with us today.

905.512.1846 | [email protected]

FREE Home Valuation

Facebook-f X-twitter Youtube Linkedin-in Instagram Tiktok