If you or someone you know is contemplating homeownership for the first time, consider this the official roadmap. A pocket guide full of valuable advice, links to tools and years of realtor and home-buying insights – from understanding the steps involved in the process to an exhaustive closing cost list, I've got you covered.

The Home Buying Process Made Simple
Buying a home can seem overwhelming, there are many moving parts and players. By breaking it down into simple and actionable steps, you can begin planning with ease. Consider this your roadmap;
01. Determine your budget
Begin by assessing your finances, factoring in your income, expenses, and any existing debts. This will give you a clear idea of how much you can comfortably afford to spend on a home.
02. Get pre-approved for a mortgage
To strengthen your position as a buyer, getting pre-approved for a mortgage is essential. Reach out to reputable lenders in Kingston, who can evaluate your financial situation and provide you with a pre-approval letter. It shows sellers that you're a serious buyer and narrows down your search to homes within your budget. I can also provide some mortgage specialist contacts to help get you started.
03. Find a trusted real estate agent
Enlisting the help of a knowledgeable real estate agent is invaluable. They will guide you through the home-buying process, help you find suitable properties, submit offers and negotiate on your behalf. Look for an agent who has expertise in the Kingston market and understands your needs.
04. Start house hunting
Armed with your pre-approval, it's time to search for your dream home. Consider your desired neighbourhood, commute times, nearby amenities, and any specific features you require. Viewing multiple properties and comparing them will help you make an informed decision.
05. Make an offer and negotiate
Once you've found the perfect home, work with your agent to draft an offer that includes the price, conditions, and desired closing date. Your agent will negotiate with the seller's representative to achieve the best possible terms for you.
06. Complete the home inspection & appraisal
Hiring a professional home inspector is always advisable and crucial to uncovering any possible issues with the property. Additionally, your lender may require an appraisal to ensure the home's value aligns with your mortgage amount.
07. Finalize the financing & insurance
Connect with your mortgage lender to finalize the mortgage details and secure your financing. It's also important to obtain homeowners and title insurance to protect your investment.
08. Close the deal
On the closing day, review and sign all necessary documents, including the mortgage agreement and transfer of ownership. Pay any remaining closing costs, and you're officially a homeowner!

Getting Pre-Approved - The Key to Success
Before diving into house hunting, it's crucial to get pre-approved for a mortgage. This step empowers you as a buyer and simplifies your search. Here's how you can get pre-approved:
Gather financial documents
Be prepared to provide proof of income, employment history, bank statements, and other relevant financial documents.
Research financing
Submit your application
Await the pre-approval letter

Factors to Consider When Choosing Your First Home
As you embark on your home-buying journey, it's essential to consider your specific needs and preferences. Here are a few factors to keep in mind as you begin to envision your dream home and have these conversations with your REALTOR®:
Location
Consider proximity to family, schools, work, parks, public transportation, shopping centers, and other amenities that are important to you. Is there a radius or neighbourhood that would be ideal for your lifestyle? Do you prefer urban or rural living? Do you require waterfront or water access?
Size & Layout
Assess your current and future space requirements. Do you need multiple bedrooms, office(s), garages or a backyard? Visualize how you'll utilize each room to ensure it meets your needs.
Condition & Maintenance
Evaluate the condition of the home. Are you looking for a move-in-ready property or one that requires renovations? Consider your budget for repairs and maintenance.
Resale Value
While it may seem far off, it's wise to consider the resale value of the home. Look for properties that have features and amenities that appeal to a wide range of potential buyers.

Closing Costs - Budgeting Beyond the Purchase Price
When buying a home, it's important to account for additional costs beyond the purchase price. Here are common closing costs to expect;
Deposit
Typically due within 24 hours of your offer being accepted, this amount is held in trust by the listing brokerage and deducted from your total purchase price. Although not a closing cost, it's helpful to plan and have quick access to these funds. 1% of the purchase price is a good guiding figure although there is no set rate and it will vary per property and region.
Home inspection fees
Land transfer tax
Legal Fees & disbursements
HST on mortgage default insurance
Moving expenses
Buying your first home is an exciting journey that requires careful planning and consideration – along with help from a few professionals. By following the steps outlined in this guide, getting pre-approved, considering your specific needs, and budgeting for closing costs, you'll be well on your way to homeownership.
As a realtor who empowers and specializes in helping first-time buyers, I leave you with these words of wisdom: finding the perfect home takes time, be patient and trust the process. Good luck, and may your first home be everything you've dreamed of!
If you're ready to chat about your home search, book a 15-minute free consult with Erin now.
Did this guide help you better understand the steps and considerations for your first home purchase?
0%Very helpful. This will be a useful roadmap.
0%Quite useful. But I still have some questions.
0%Nothing I didn’t already know.