Are you thinking about buying your first home in Edmonton or the surrounding area? Becoming a homeowner is an exciting milestone — but it takes careful planning to get there. If you’re wondering how to start preparing for home ownership, this guide will walk you through the key steps to take.
1. Understand Your Financial Situation
Before you start looking at homes, take a close look at your finances.
Check your credit score: A higher score can help you secure better mortgage rates.
Pay down debt: Reducing credit card balances or loans will improve your debt-to-income ratio.
Save for a down payment: In Canada, most buyers need at least 5% down, but 20% will help you avoid mortgage insurance.
2. Create a Realistic Budget
It’s important to know how much house you can afford — not just what the bank will approve.
Consider:
Mortgage payments
Property taxes
Condo fees (if applicable)
Home insurance
Utilities and maintenance costs
3. Get Pre-Approved for a Mortgage
Mortgage pre-approval helps you:
Understand your price range
Strengthen your offers
Show sellers you’re a serious buyer
Work with a trusted mortgage broker or lender who will help you explore your options and lock in a competitive rate.
4. Start Learning About the Market
The Edmonton real estate market changes throughout the year.
Research:
Neighbourhoods that fit your lifestyle
Current home prices and trends
Types of homes available (single-family, duplex, condo, etc.)
Tip: The sooner you start learning, the more confident you’ll feel when it’s time to make a decision.
5. Partner With a Trusted Local Realtor
This is one of the most important steps. Working with an experienced Realtor helps you:
Navigate the process from start to finish
Access expert market insights
Avoid costly mistakes
Negotiate the best terms
If you’re thinking about buying a home in Edmonton or the surrounding area, I’d be happy to help. As a full-time, experienced Realtor® with MaxWell Challenge Realty, I guide buyers through every step — from first showing to keys in hand.
6. Stay Organized and Patient
Buying a home takes time. Stay organized with:
A checklist of what you need to do
Regular check-ins with your Realtor and mortgage professional
A willingness to be flexible as you search
Ready to Take the First Step?
If you’re preparing for home ownership in Edmonton, let’s connect. I’ll answer your questions, help you create a personalized plan, and support you every step of the way.
👉 Contact Jason Hafso – Your Edmonton & Area Real Estate Expert
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