First-Time Buyers

As a First Time Home Buyer, we understand that the purchase of your new home is overwhelming. It is the single most expensive purchase that you will probably ever make.

Here are a few tips to help you make your first home purchase easier:

  1. Consult a mortgage specialist* about your financing needs. A good consultant will save you money and help you avoid the potential problems that exist in dealing with your bank. A mortgage specialist* can help you save thousands of dollars. At Mortgage Edge you can have a mortgage specialist* visit you in the privacy of your own home.
  2. Your down payment is the key when purchasing your new home. The amount of your down payment will help you decide how much you want to spend on your first home. A mortgage specialist* will help you calculate your monthly payments, how much you can afford, how much you can save for your future (i.e.: your children’s education, & retirement). If you have savings in your RRSP, you can withdraw up to $20,000 without any tax hold-back. Ideally most Canadians are using their RRSP savings to purchase their homes. Our mortgage specialists* will show you how.
  3. You will need a Real Estate Agent. This person should have more experience in buying a home than you do. It is important that the agent is familiar with all of your personal requirements for the purchase of your dream home. You will be relying on this person to help you make the decision of a lifetime. Our mortgage specialists* can work with your Real Estate Agent directly to facilitate your paperwork professionally. Choose wisely.
  4. You will need a Lawyer. Typically Lawyers charge for mortgage registration fees and their disbursements. These fees and disbursements can accumulate very quickly. So get this information up front, to avoid any surprises on the day of your closing. Our mortgage specialists* can recommend you to a lawyer that will service you in the best way possible. We will help with the paperwork and work directly with your Lawyer to avoid added work on your part.
  5. When buying a resale home it may be important to have the home inspected for any defects. The home inspection could be the key to you buying or not. The cost of this inspection should be looked upon as an expense that you cannot go without. It could ultimately save you thousands of dollars down the road. The home inspector will go through the house with fine details to alert you of any inconsistencies that may be evident. At Mortgage Edge we can recommend the Home inspector for you, and they will price you up front as to the cost.
  6. When buying a new home from a builder is it important to always have your lawyer review the Offer of Purchase agreement before you actually agree to purchase and sign. Remember with this kind of purchase there usually isn’t the professionalism of a Real Estate agent to help you with the purchase. Most builders may have hidden costs for things that are not usually included in the traditional purchase of a resale home. Our mortgage specialists* are experienced with this kind of purchase and will recommend all of the professionals necessary in completing your purchase successfully.
  7. You will need a Mover. Moving into your first new home can be very traumatic. Rely on the professionalism of a good Mover to help with your packing and transporting of your personal belongings. Our mortgage specialists* can refer you to a great Mover in your desired area and usually at a discounted rate. Give yourself some peace of mind with this too.
  8. Protect yourself, your family, and your home. The key here is Insurance. From life/mortgage, home/property insurance, to security alarms. Our mortgage specialists* will refer you to professionals experienced in all areas of personal security and future planning. Don’t sweat the big stuff. Relax and enjoy your new home.