Thinking about becoming a homeowner? It’s a big milestone—and with some smart planning, it’s totally achievable. Whether you're aiming to buy soon or just starting to explore, these steps will set you on the right path.
1. Assess Your Financial Health
Take a close look at your income, savings, debts, and expenses. Knowing where you stand financially will help you set realistic goals and timelines.
2. Check Your Credit Score
Your credit score affects your mortgage approval and interest rate. Review your report, correct any errors, and work on improving your score if needed.
3. Start Saving for a Down Payment
Aim for at least 5% of the purchase price, though more can help lower your mortgage costs. Also budget for closing costs, which typically range from 1.5% to 2.5% of the purchase price.
4. Create a Realistic Budget
Factor in more than just the mortgage—think about property taxes, insurance, utilities, and maintenance. A solid budget helps ensure you’ll be financially comfortable in your new home.
5. Get Pre-Approved
Getting pre-approved for a mortgage shows sellers you're serious and gives you a clear picture of your buying power before you start house hunting.
6. Explore First-Time Buyer Programs
There are government programs that offer tax breaks, rebates, or down payment support. I can help you find the ones that apply to your situation.
7. Connect With a Local REALTOR®
Working with someone who understands the local market (like me!) gives you a big advantage. I’ll guide you through the process and help you avoid costly mistakes.
Ready to take the first step toward homeownership in Spruce Grove, Edmonton, or nearby communities?
Let’s talk about your goals and how to make them a reality. Contact me today to get started.
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