First Time Home Ownership

Buying a home for the first time is a significant milestone in many people's lives.

Here are some general tips and considerations for first-time homebuyers:

1. Evaluate your finances: Decide how much you can afford to spend on a home by looking at your income, expenses, and savings. Consider getting pre-approved for a mortgage to know your budget.

2. Research the housing market: Investigate different neighbourhoods, property types, and prices to get an idea of what is available within your budget.

3. Understand the home buying process: Familiarize yourself with the steps involved in buying a home, such as making an offer, getting a home inspection, securing financing, and closing the deal.

4. Consider added costs: Remember to budget for expenses beyond the purchase price, such as closing costs, property taxes, homeowners insurance, and maintenance.

5. Work with professionals: Seek help from a real estate agent, mortgage broker, and home inspector to guide you through the process and ensure you make informed decisions.

6. Take your time: Buying a home is a big decision, so do not rush into it. Take the time to find a home that meets your needs and fits your budget.

Remember that buying a home is a complex process, but with careful planning and research, you can navigate it successfully.

Let Us Help You

You need a good agent who will work hard for you. At Maxwell Rockies Realty, we are dedicated to helping you find the right home, at the best price. We want you to find the home that will make you happy and successful in real estate ownership.

When you work with us to help you buy your first home, we want to know what you want and how much you can afford. Then we'll find a way to merge these two priorities and find a residence that you'll enjoy owning.

Keep your objectives in mind when visiting a home. Sometimes the idea of owning a home can overwhelm your practical sense, so keep your feelings in check. Keep a list handy of the features that you need and want in a home, and judge each home by the list instead of by details that could distract you from your goal. When you're with your agent, you can go over the pros and cons of each home. We can help you stay on track while still keeping our eyes out for a great property.

Engage the services of a good real estate lawyer. We can recommend several lawyers in the area who might be a good fit for you. Interview them to ensure that you get someone you can work with. The legalities of transferring land ownership can be dodgy, and a lawyer can be your best defense against future legal troubles. A good lawyer can charge several hundred to over a thousand dollars for their services, but the thousands of dollars saved in legal fees later on makes this a good expense.

Make the offer. This can be a maze of "buyer", "seller", "chattels", "deposit", and "completion". We are happy to prepare the paperwork and go through it with you before submitting it. Remember, the seller may reject or counter your offer, so even at this late date, avoid setting your heart on the home you hope to own. In most cases the buyers have to write a deposit check to the seller's broker that proves the seriousness of the offer.

Get all the necessary inspections done. A home inspector will check for signs of harmful materials like asbestos, lead paint and mold. They'll also check for evidence of pests, faulty wiring and leaks. This is a crucial part of the home purchase. Not getting an inspection done means that you could be stuck in a home with a bad case of black mold and no recourse other than to pay for its removal. Inspections will cost a few hundred dollars, but again, this is more than worth it in the end. There are several inspectors in the area that we'd be happy to recommend.

Do a final walk-through before closing the deal. We are happy to do this with you to make sure that everything agreed upon is completed prior to the final signing.

From the first interview that determines your requirements to the moment that you receive the 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 make the home buying process easier!