December 21, 2021


With the start of a new year comes the butterflies of first-time homebuyers. Maybe you were apprehensive about purchasing your first home in 2021, but perhaps 2022 is the year when you make the leap. The best way to make that big step is to speak with someone who can help you in the easiest way possible.

The following list can help you and your loved ones next year, and I hope that it gives you the reassurance and peace of mind you need. It might seem scary, but it’s totally doable!

  • Down payment: Make sure you can afford it, and have budgeted accordingly
    In Canada the PERFECT down payment is 5% for most properties, so it is time to save, and create the right budget to attain that downpayment quickly (I also have a blogpost on this)
  • Get that down payment approved:
    Before you call your realtor, ensure that down payment is pre-approved. So who you’re going to see is a mortgage broker
  • Can you afford the home you want? Be realistic
    It’s easy to dream about the 3-floor home, the large yard and the space for your growing family. But realistically, does that fit in your budget? Time to start searching!
  • Take advantage of the First Home Buyer Programs
    The Home Buyers’ Tax Credit currently works out to a rebate of $750
    The Canadian government’s Home Buyers’ Plan (HBP) allows first-time home buyers to borrow up to $35,000 from your RRSP for a down payment, tax-free.
    If you qualify, land transfer tax rebates are available to first-time home buyers in the provinces of Ontario, British Columbia, and Prince Edward Island. There is also a land transfer tax rebate available for first-time homebuyers in the city of Toronto.
    So you’re never really alone throughout the process and you can achieve your property dreams with an extra helping hand
    If now is still not your time, keep saving.
    A good rule of thumb is to reserve 3-5% of your home’s purchase price to cover your home closing costs.
    Once you’ve done this whole process, weighed out your options and found an area, the appropriate home, and what you need, this is when you call me!
    I’m the bridge between you and your dreams, and working with me guarantees everyone’s needs are met, and quickly too

In spite of the tough year, many people were able to buy and sell. If that wasn’t you, don’t worry. Get in touch with me in the new year so we can take the first step together. Don’t hesitate; you won’t regret it.