First-Time Home Buyers

Are you ready for home ownership?

First-Time Home Buyers

Are you ready for home ownership?

Buying your first home is an exhilarating experience. Still, it is essential that you are financially and mentally prepared for the responsibilities of becoming a first-time homebuyer. There are many great things about owning a home and having control over your space; however, they come with the responsibility of a mortgage, taxes, and home maintenance. Preparing for home ownership requires you to take critical stock of your finances and expectations.


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Questions for Prospective Homeowners

Are you ready to buy?

Owning a home can be a huge commitment, both financially and emotionally. Homeownership has many exciting aspects, such as having complete control over what the space looks like and how it functions. Still, it is essential to make sure you are ready to maintain and invest back into the house for years to come. Part of your income will go towards repairs and maintenance, and you will have to be prepared for unexpected home costs. Knowing the risks and rewards of homeownership is essential before deciding to buy.

How much can you afford?

Knowing what type of house fits your budget is the first key step towards homeownership. While you may have a “dream home” in mind, it is better to buy a house that matches your salary and makes you feel financially secure. Sacrificing a considerable part of your income for the down payment may make homeownership feel more like a burden rather than a point of pride. Staying within your budget is the path to successful homeownership and can create the ability to purchase your “dream home” in the future.

What is your debt-to-income ratio?

Your debt-to-income ratio is something that lenders will take very seriously. Your overall debt should not be more than 40% of your income, and your housing debt should not exceed 32% of your income. Knowing your debt-to-income ratio is important to creating a realistic budget, which will help you narrow down your housing search.

What do you want?

We recommend that every house search starts with a list of features you want in your home. It is essential to consider yard care, commuting distance, and neighbourhood features when looking for the right home. Take some time to think about what you want and don’t want in your home experience.


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You need a good agent who will work hard for you. Our expert team of REALTORS® is dedicated to helping you find the right home at the best price. We want you to find a home that will make you happy and successful in real estate ownership.

When you hire us to help you buy your first home, we want to know what you want and how much you can afford. We will help you merge these two priorities into finding a home you will love for years.

Keep your objectives in mind when doing walkthroughs of potential houses. Sometimes the feeling of owning a home can be overwhelming, making it difficult to focus on the features that are important to you. Keeping a list of the traits that you need and want in a home handy can be helpful to keep yourself on track as you do each tour. You can also go over the pros and cons of each house with your agent to help you make the best, most informed decision. We can help you stay on target to find the home that best fits you.

Engage the services of a good real estate lawyer. We can help recommend several Saskatoon real estate lawyers who may be a good fit for you. There can be legal issues in transferring land ownership, and a lawyer is your best defense against future legal troubles. While it can be a significant upfront cost, staying protected and out of legal trouble (and fees!) makes this an expense worth the investment.

Making the offer can be the most exciting and stressful part of buying a home. It can be a maze of confusing phrases and paperwork to get through before you get your keys. Luckily, we can help you navigate this process and prepare any paperwork to be submitted. Also, consider that the seller may reject or counter your offer, so avoid setting your heart on the home you hope to own until you are sure the deal has firmed.

Get all necessary inspections done. A home inspector will check for signs of harmful materials such as asbestos, lead paint, and mold. They will also look for evidence of pests, faulty wiring, leaks, and other unsavoury conditions. This crucial part of the home purchase helps you make the most informed decision about the house that interests you. While it will cost a few hundred dollars to have this inspection, it is worth it to avoid hefty costs to fix these issues if you were not aware of them before buying the house. We have several local home inspectors that we would be happy to recommend in Saskatoon.

Do a final walkthrough before closing the deal. This is your last look at the house to ensure everything is in order. We are happy to do this with you to ensure that everything agreed upon is completed before the final signing.


From helping you create a list of requirements to the handing you your keys, we can help you with the complicated process of buying a home. Don’t hesitate to contact us to find out more about how we can help make the home-buying process easier!