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First-Time Home Buyer? Buy a Home in Ontario with Confidence

CENTURY 21 Dreams Inc. | Saturday Feb 16th 2013
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Are you a first time home buyer looking to buy a home in Oakville, Mississauga, Burlington, Milton, Kitchener Waterloo, Guelph, Toronto, or Hamilton? If so then rest assured—you can buy a home in Ontario with confidence by simply increasing your understanding of the home-buying process.

Mortgage Pre-Approval

Before you even start searching for homes in Oakville, Mississauga, Burlington, Milton, Kitchener Waterloo, Guelph, Toronto, or Hamilton it is highly recommended that you first obtain a mortgage pre-approval. The mortgage pre-approval process essentially allows the lender to provide you with an upward limit on the amount of a home loan they will approve based on set criteria (credit history, employment, income, etc.).  Obtaining a mortgage pre-approval make you more appealing to sellers and also provides you with a great place to start.

Tips for the First-Time Home Buyer

After obtaining your mortgage pre-approval, it is recommended that any first time home buyer utilize a mortgage payment calculator when looking to buy a home in Oakville, Mississauga, Burlington, Milton, Kitchener Waterloo, Guelph, Toronto, or Hamilton—or anywhere else for that matter. Specifically, a mortgage payment calculator can help the first time home buyer better understand how much the monthly mortgage payment will be based upon everything from the price of the home and down payment to the interest rate. This is an essential tool for any first time home buyer trying to determine how much of a home he or she can afford—which is great when used in conjunction with the information obtained from the mortgage pre-approval.

First Time Home Buyer

When you are looking to buy a home in a certain area it is essential that you have an expert by your side who is familiar not only with the local real estate market but also the current homes on the market. For example, when looking to buy a home in Oakville, Mississauga, Burlington, Milton, Kitchener Waterloo, Guelph, Toronto, or Hamilton, it is highly recommended that you allow a real estate expert in the area to assist you in your search. These real estate professionals can help you find homes that meet your specified criteria (number of bedrooms or bathrooms, size of the home, etc.) as well as providing you with an analysis of other, similar homes on the market and their listing prices.

If you are a first time home buyer looking to buy a home in Oakville, Mississauga, Burlington, Milton, Kitchener Waterloo, Guelph, Toronto, or Hamilton, then start by obtaining a mortgage pre-approval from a lender with a good reputation. Then, utilize a mortgage payment calculator to help you better understand how much your monthly payment will be.

But most importantly, call upon a local real estate expert to help you navigate the often-rocky waters of buying your first home. 

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This is the number of residential
properties sold in the area(s).
  1. The average home price is found
    by adding the value of all sales and
    dividing by the number of homes.
  1. The median sale price is the
    midpoint of all sales.