Thinking of buying your first home? No doubt you have many questions such as:  Where do I start? What’s a pre-qualification? What’s a pre-approval?  How much can I afford? Do I go with conventional Banking or an alternative mortgage Broker? Where do I want to live? How does a Real Estate Professional work for me? So many questions are weighing on your mind and you have no clue where to begin. Fear not, you are not alone and as a Real Estate Professional I can assure you that the process while it sounds overwhelming doesn’t have to be with the right people working for you. The experience of buying your first home will be fun, smooth and exciting. Your journey to home ownership should be a stress free one that brings about happy memories.  To help you along here are some steps to take “prior” to an house hunting trip along with some very helpful links!

Step 1: Pre-Qualify for a Mortgage – Call to make an appointment with your bank to obtain a pre-qualification. Prequalification simply supplies you with an idea of “how much” you can afford based on the information you supply to your bank. It is not a Pre-approval, which is different althogether. A different set of rules applies to pre-approval and this next level step may help you in a competitive market where buyers are racing to get that perfect home. You’ll be one step ahead of the others. Take a look at this fantastic article on the two differences and key takeaways of each.

Pre-Qualified vs. Pre-Approval

Step 2: Once you have your pre-qualification or pre-approval now it’s time to call a professional realtor to help you begin your search within the price parameters the bank has supplied you. It’s very important choose an Agent that you gel with and who goes the extra mile for you! As your Real Estate go to I will set you up in our portal and you will be able to access homes before the general public do. Thereby giving you the advantage.


Step 3: Once you see a home you like and you wish to make an offer, this is where I come in and provide you with knowledgable and practical guidance. I will inform you of the next steps, sit back and enjoy the ride!


First Time Home Buyer Guide


What is Land Transfer Tax and as a First time home Buyer do I have to pay it?

Well the short answer is as a first time home buyer you do not have to pay land transfer tax “if” you purchase a home under $368,333.  The Ontario first time home buyer tax credit, also known as the land transfer tax rebate, has a value of the full amount of the Ontario land transfer tax up to a maximum $4,000. The land transfer tax rebate is instantly applied as credit as a rebate to the home buyers at the time of closing or their real estate purchase transaction. First time home buyers whom purchase a property for $368,333 or lower will be rebated the full amount of the Ontario Land Transfer Tax ($4,000 value). If your home is over $368,333 there will be a percentage of land transfer tax applied to the difference. 

Land Transfer Tax Calculator

Mortgage Associates Ontario