Tips for first-time homebuyers
Why work with one of our realtors as opposed to doing it on your own? It means less work and less risk for you when buying or selling your home. You will be hiring someone who is the expert in real estate. Our realtors are knowledgeable about your neighbourhood, the real estate market, and what neighbouring properties are priced at. We can help you negotiate the best price, terms and conditions when buying or selling your home. Our licensed realtors will help you to book and view homes, write offers, negotiate on your behalf, and provide you with status updates of your transaction. The risks with attempting to buy or sell without a professional realtor includes” improper negotiations, misinformation of legal matters, or improper handling of all aspects of the transaction such as inspection and financing. And usually the seller pays the commission, so there is no cost for the buyer to hire an expert realtor to help them buy a home!
Understanding the First time home buyers’ tax credit (HBTC)
In 2009, the federal government introduced a new tax credit, based on a down payment amount of $5,000, for first time home buyers who buy a qualifying home in the year the home is purchased. To take advantage of this incentive, you must be considered a first time buyer. If you are not a first time home buyer, but someone you are purchasing with is, then you can also participate in this incentive as long as it is your primary residence.
Costs associated with purchasing your first home
In 2009, the federal government introduced a new tax credit, based on a down payment amount of $5,000, for first time home buyers who buy a qualifying home in the year the home is purchased. To take advantage of this incentive, you must be considered a first time buyer. If you are not a first time home buyer, but someone you are purchasing with is, then you can also participate in this incentive as long as it is your primary residence.