First Time Home Buyer Guide

• Make sure you are down with the minimum down payment.
• Get a Pre-approval!
• Make sure you can afford the home you want.
• Shop around!
• Consider using a Mortgage Broker.
• Take advantage of First-Time Home Buyer Programs.
• Keep on Saving.

  Can I live in Canada if I buy a house?

  Foreigners who plan on spending less than six months a year in Canada can keep a home here without having to apply for residency. Those who buy a property and plan on living in it longer than that have to immigrate to the country and apply for permanent residency.

  How much do I need to buy a house in Ontario?

  You need a minimum down payment of 5% of the purchase price.

  What are the rules for buying a house in Ontario?

  House buying is a big decision and therefore should be an informed one. Every province has their own rules and regulations when it comes to real estate transactions. Ontario has its own specific rules. According to the Real Estate Council of Ontario (REC)) there are “3 Pillars of Protection.

  What should I ask before buying a house?

  Answer some of these questions before you even view… Moreover, some of these questions are the kind that you can answer without having to do a viewing. You can research the property’s history and location online, as well as look up crime statistics in the area. The Land Registry website will give you useful information. 1.

  What to look for when buying a cottage in Ontario?

  If you plan to rent out your cottage for a portion of the year, look for a property that’s already set up as a rental and has established bookings, suggests Rob Serediuk, an agent with Chestnut Park Real Estate serving Ontario’s Kawartha Lakes and Haliburton region. Has your mortgage been preapproved?

  What to ask before buying a recreational property?

  After years of renting a cabin or cottage, you’re ready to own a recreational property. But are you prepared for the 
financial commitment involved with the purchase? Consider these five questions. How much time will you spend there? Face it: Owning a recreational property is primarily an emotional decision.