Buying Your First Home? Here's What I Wish More People Knew

Buying your first home is exciting.

It's also a little terrifying.

You're making one of the biggest financial decisions of your life while simultaneously trying to understand words like “caveat,” "deposit," "conditions," and "RPR."

Deep breath.

You don't have to know everything before you start. You just need to know who can help you with the things you don't know.

Here are a few things I wish more first-time buyers understood.

Your mortgage approval isn't necessarily your comfortable budget.

Just because a lender says you can spend a certain amount doesn't mean you should.

Leave room for utilities, property taxes, repairs, maintenance, furniture, groceries, and living your actual life.

The perfect house doesn't exist.

Or at least, it probably doesn't exist within your budget.

You may have to compromise somewhere.

The trick is figuring out which compromises you can happily live with.

Don't skip the neighbourhood research.

A house can be gorgeous and still be the wrong fit.

Visit the neighbourhood at different times of day.

Drive the commute.

Check out nearby parks.

Think about what your weekends will look like.

Inspections matter.

The paint colour can be changed.

The flooring can be changed.

The kitchen backsplash can absolutely be changed.

But some problems are significantly more expensive to deal with.

A good, thorough inspection can help you understand what you're actually buying.

Ask questions.

Lots of questions.

There is no such thing as a stupid question when you're spending hundreds of thousands of dollars.

And if your REALTOR® makes you feel like you're annoying them by asking questions? Find a different REALTOR®.

My job isn't to make decisions for my clients. It's to give them the information, context and support they need to make their own decisions confidently.

Buying your first home should feel exciting.

A little overwhelming?

Sure.

But you shouldn't feel like you're figuring it out alone.

-Breanne