First-Time Home Buyers | How to Buy a Home

If you are a first-time home buyers in the Niagara & Hamilton Regions, the process will be an exciting milestone in your lives but can also be daunting and overwhelming. Chances are, you won't be buying home cash and you will need a mortgage. From navigating the Mortgage Process to finding the right home and putting in an offer...the process can leave you with a lot of questions and uncertainties. Here are some tips that can help ease your mind.

Mortgage Pre-Qualification

Meet with a mortgage broker and find out how much you can afford to pay for a home. A Mortgage Pre-qualification is not verified and is a preliminary assessment of your financial fitness but it will be a great first step to finding out how much you can afford before you start house hunting. You will need a Mortgage Pre-Approval to actually buy the house when you are ready. 

Mortgage Pre-Approval

While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You'll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.

List of Needs & Wants

Creating 2 Lists before starting your house hunting process will help you to find a home that meets all your needs and wants.

Need List: This list is everything you absolutely need in your first home. This list would include things like the number of bedrooms and bathrooms and the type of home you would like...bungalow, 2-storey, 1.5 storey, etc.

Want List: This list will include everything you want in a home. It is a list of your wishes. Realistically speaking you may not get everything you want from this list in your first home.  This list would include things like a pool, a den or an extra bedroom that might not necessarily be within your budget for your first home. Be realistic in your home shopping experience as a first-time home buyer as you will probably not get everything on your wish list.

By making lists you will be more likely to find a home that is well within your budget and will meet all of your family's current needs. 

Professional Guidance from a Top Niagara & Hamilton Realtor

Consider hiring your own local real estate agent, one who is working for you, the buyer, not the seller. Choose an agent that is local to the area you are interested in buying in. An agent that knows the area will be more likely to find you a home that is in the best areas of the city and safe for your family. Hiring an out-of-town realtor may result in missed opportunities, difficulties in communication, and limited Network and Resources for the area you are buying in.

Contact us for a one-stop solution to homeownership in Niagara or Hamilton.

We provide real estate, mortgage, legal, and financial planning services all under one roof. 

At The Hendriks Team, we don't just serve the Niagara and Hamilton communities—we live and work here too. Our expertise extends beyond real estate to encompass complete financial services, all conveniently located at our 145 King Street location in St. Catharines, known as The Hendriks Business Centre. Our best and top Niagara and Hamilton real estate agents understand the unique dynamics of these areas, from the bustling streets of Hamilton to the picturesque landscapes of Niagara. That's why we're uniquely positioned to provide you with insights into the true value of your home in these thriving markets. For all your real estate needs, we've got you covered!

Download our helpful Home Buyer Guide HERE

First-Time Homebuyer Inquiry Form: Let's Start Your Journey to Homeownership!


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