First-Time Home Buyers
In Peterborough
Everything You Need to Know Before You Buy Your First Home
Buying your first home is exciting, but honestly, it can feel overwhelming, too.
As a first-time home buyer in Ontario, you’re making one of the biggest decisions of your life. That’s why I’ve put together this easy-to-follow guide to help you feel informed, confident, and ready to take that next step.
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I’m Julian McCaslin, a REALTOR® from Peterborough, and I specialize in helping first-time buyers just like you.
Step 1: Determine Your Budget
Before you start looking at houses, it’s crucial to understand what you can realistically afford.
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Here’s what you should consider:
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Your down payment (minimum is 5% for homes under $500,000)
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Closing costs (usually 1.5%–4% of the purchase price)
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Monthly mortgage payments
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Property taxes and utilities
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Ongoing maintenance
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š” Tip: Get pre-approved for a mortgage so you know what you’re working with before you look.
Step 2: Understand the Incentives
Ontario and the federal government offer programs to help first-time buyers:
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First-Time Home Buyer Incentive (shared equity loan with CMHC)
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RRSP Home Buyers’ Plan (HBP) – withdraw up to $35,000 tax-free
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Land Transfer Tax Rebate – save up to $4,000 in Ontario
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First Home Savings Account (FHSA) – a new tax-free way to save
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I’ll help you understand your qualifications and how to take advantage of these programs.
Step 3: Choose the Right Homeā
Once you have a clear budget and plan, it’s time to look at what’s out there. I’ll help you narrow down your search based on your goals, lifestyle, and long-term needs.
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We’ll look at:
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Neighbourhoods (schools, amenities, commute times)
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Type of home (detached, semi-detached, condo, townhouse)
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Resale potential and condition of the home
Step 4: Make an Offerā
Found the one? I’ll help you write a strong, competitive offer that protects your interests.
You’ll talk about:
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Offer conditions (like financing or home inspection)
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Negotiation strategies
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Deposits
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Timeline from offer to closing
Step 5: Close the Deal & Move In
Once your offer is accepted, we’ll work with your lawyer and lender to make sure everything goes smoothly. You’ll need to:
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Finalize financing
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Complete the home inspection
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Review all legal documents
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Pay closing costs and get your keys!
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š Congrats! You’re officially a homeowner!
Need Help? You Don’t Have to Do This Alone.
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I guide first-time home buyers through the entire process, from figuring out what you can afford to moving into your dream home.
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š Call me today or send a message to start your journey with expert support, honest advice, and a REALTOR® who’s got your back every step of the way.