✅ 1. Figure Out Your Budget

Before you start browsing listings, understand what you can comfortably afford. This includes:

• Your monthly income and expenses
  
  
• A rough mortgage estimate
  
  
• Property taxes, utilities, and maintenance costs
  
  
• A buffer for closing costs (land transfer tax, legal fees, inspections, etc.)
  
  

💡 Tip: Most first-time buyers in Ontario spend between 3–5% of the purchase price on closing costs.

✅ 2. Get Pre-Approved for a Mortgage

This shows sellers you’re serious and gives you a clear price range. A mortgage pre-approval will:

• Lock in a rate for 60–120 days
  
  
• Clarify your monthly payment
  
  
• Help you avoid looking at homes outside your budget
  
  

💬 Work with a mortgage broker or lender who explains the fine print—especially around fixed vs. variable rates.

✅ 3. Check Out First-Time Buyer Incentives

In Ontario, first-time buyers may qualify for:

• Land Transfer Tax Rebates (up to $4,000 from Ontario + $4,475 in Guelph)
  
  
• Home Buyers’ Plan (HBP) – Use up to $60,000 of RRSPs (for a couple)
  
  
• First Home Savings Account (FHSA) – Save tax-free up to $8,000/year per person
  
  

📌 These programs can shave thousands off your upfront costs—worth looking into early.

✅ 4. Define Your Must-Haves

Ask yourself:

• How many bedrooms/bathrooms do I need?
  
  
• Do I want a condo, townhouse, or detached home?
  
  
• What neighbourhoods work for my commute or lifestyle?
  
  
• Is outdoor space important? Parking? A finished basement?
  
  

🎯 Prioritize your needs vs. wants—it’ll help focus your search later.

✅ 5. Partner With a REALTOR® You Trust

A good local real estate agent will:

• Guide you through the process
  
  
• Help you interpret market conditions
  
  
• Point out red flags
  
  
• Negotiate the offer and protect your interests
  
  

🙋‍♂️ As a REALTOR® based in Guelph, I love helping first-time buyers feel confident and informed every step of the way.

✅ 6. Start Touring Homes

You can view homes in person or virtually. Look beyond the paint and furniture:

• Check storage, layout, and lighting
  
  
• Ask about age of roof, furnace, windows, and major systems
  
  
• Take notes—you’ll start to forget details after a few showings
  
  

📱 Pro tip: I’ll send you a custom search that updates in real time, so you never miss a new listing.

✅ 7. Make an Offer (and Understand the Conditions)

When you’re ready, your agent will help you draft an offer. You’ll need to consider:

• Price
  
  
• Deposit (usually 3-5%)
  
  
• Closing date
  
  
• Conditions (financing, home inspection, etc.)
  
  

📄 Your REALTOR® will walk you through each clause and help make it competitive but smart.

✅ 8. Book a Home Inspection

A licensed inspector can uncover issues you won’t see on a tour—like roof damage, electrical problems, or hidden water leaks.

🔍 This is one of the most valuable investments you’ll make in the process.

✅ 9. Work With a Real Estate Lawyer

Your lawyer will:

• Review the contract
  
  
• Confirm title and legal ownership
  
  
• Handle closing-day funds and documents
  
  

💼 Choose a lawyer who regularly handles real estate and is available to answer your questions.

✅ 10. Get Ready for Closing Day!

Make sure you:

• Line up your mortgage
  
  
• Have your deposit and down payment ready
  
  
• Set up utilities and home insurance
  
  
• Book your movers!
  
  

🎉 And finally—get the keys to your first home!

🎯 Final Thoughts

Buying your first home can feel like a lot—but having a clear checklist and a great team behind you makes all the difference.

As a local REALTOR® who works with first-time buyers in Guelph and surrounding communities, I’d be happy to help walk you through the process and answer any questions you have—even if you're still just thinking about it.



📩 Reach out today to schedule a call, get connected with a lender, or start your personalized home search.