Buying or Selling? Let your REALTOR® be your guide.

Five things to know when buying your first home

Buying your f rst home can be a daunting experience. That’s why your REALTOR® is a great resource and can help ensure it goes as smoothly as possible. Follow these f ve steps for an unforgettable experience at buying one of the biggest purchases you will ever make:

  1. Always have a good down payment.
    In Canada, it is mandatory to have f ve per cent of the price
    of your home for your down payment (with the purchase of
    mortgage default insurance; 20 per cent without). However, the
    bigger the down payment, the quicker the mortgage is paid!
  2.  

  3. Always use a REALTOR®.
    A REALTOR® will be able to help you with things you may not
    know about when purchasing a home privately including the
    disclosure of any problems with the home, to the community’s
    amenities.
  4.  

  5. Search for a home with a good school district.
    In Canada, it is mandatory to have f ve per cent of the price
    of your home for your down payment (with the purchase
    of mortgage default insurance; 20 per cent without).
    However, the bigger the down payment, the quicker the
    mortgage is paid!
  6.  

  7. Reserve cash for unexpected expenses.
    Whether your house is years old or brand new, you never
    know when unexpected expenses will pop up. Making sure
    you have a good amount of money saved for these purposes
    is important when buying your home.
  8.  

  9. Have a home inspection done.
    Buying a home is one of the biggest purchases you will ever
    make. By having a home inspection done, you are eliminating
    the risk of those unexpected expenses that could have been
    found by a home inspector prior to buying your home.

More information on how to select your REALTOR® can be found on www.trustedguide.ca

The Nova Scotia Association of REALTORS® represents more than 1,400 brokers, salespeople and affi liate members throughout the province
Our Editorial Staff

Our Editorial Staff

New Homes & Renovations is a consumer publication dedicated to the home building, renovating and decorating industries of Nova Scotia, Canada. With homeowners and consumers in mind, the publication features articles, tips and stories on local projects and businesses