How much do I need for a down payment in Canada?

The minimum down payment in Canada is 5% for homes under $500,000, 10% for the portion between $500,000 and $1 million, and 20% for homes over $1 million. First-time buyers can use the Home Buyers' Plan to withdraw up to $35,000 from their RRSP tax-free.

What is a pre-approval and why do I need one?

A mortgage pre-approval is a lender's conditional commitment to loan you a specific amount. It tells you exactly how much you can afford, locks in an interest rate for 90-120 days, and shows sellers you're a serious buyer with financing ready.

What are the closing costs when buying a home?

Closing costs typically range from 1.5% to 4% of the purchase price and include land transfer tax (Ontario offers a rebate up to $4,000 for first-time buyers), legal fees ($1,000-$2,000), home inspection ($400-$600), title insurance, and moving costs.

Do I need a real estate agent to buy a home?

While not legally required, a buyer's agent provides invaluable expertise in negotiations, market knowledge, and paperwork handling—at no cost to you, as the seller pays the commission. We help you avoid costly mistakes and find the best home for your budget.

Charming brick ranch home in Waterloo Region - perfect for first-time buyers

First-Time Home Buyer Guide

Buying your first home is exciting but can feel overwhelming. We're here to guide you through every step of the process in the Kitchener-Waterloo market.

Your Path to Homeownership

Get Pre-Approved

Before you start house hunting, get pre-approved for a mortgage. This tells you exactly how much you can afford and shows sellers you're a serious buyer.

Gather pay stubs, tax returns, and bank statements
Check your credit score beforehand
Compare rates from multiple lenders

Define Your Priorities

Make a list of must-haves versus nice-to-haves. Consider location, size, amenities, and proximity to work, schools, or transit.

Think about your 5-year plan
Consider commute times
Research neighborhood safety and schools

Start Your Search

Work with a realtor who knows the KW market. We'll help you find properties that match your criteria and budget.

Be ready to act quickly in competitive markets
Attend open houses to get a feel for pricing
Don't skip the home inspection

Make an Offer

When you find the right home, we'll help you craft a competitive offer. We'll negotiate on your behalf to get the best deal.

Include conditions for financing and inspection
Be prepared for counter-offers
Stay within your budget

Close the Deal

Once your offer is accepted, we'll guide you through the closing process including inspections, appraisals, and final paperwork.

Hire a real estate lawyer
Get home insurance before closing
Do a final walkthrough

First-Time Buyer Incentives

Take advantage of government programs designed to help first-time buyers get into the market.

First-Time Home Buyer Incentive

The Government of Canada offers a shared equity mortgage where they contribute 5-10% of the home's purchase price.

Learn more

Home Buyers' Plan (HBP)

Withdraw up to $35,000 from your RRSP tax-free to put towards your first home purchase.

Learn more

First-Time Home Buyers' Tax Credit

Claim up to $10,000 on your tax return, resulting in a rebate of up to $1,500.

Learn more

Land Transfer Tax Rebate

Ontario first-time buyers can get a rebate of up to $4,000 on land transfer tax.

Learn more

Helpful Resources

Additional guides to help you prepare for homeownership.

Relocating to KW?

Explore neighborhoods and discover why thousands are moving here.

Setting Up Utilities

Guide to electricity, gas, water, and other essential services.

Government Services

OHIP, driver's license, and other Ontario services for new residents.

Buyer Tips & Guides

More helpful articles for first-time home buyers.

Ready to Start Your Journey?

Let us help you find your first home in Kitchener-Waterloo. We'll guide you through every step of the process.

Free buyer consultation

Help understanding the market

Guidance on pre-approval process

Expert negotiation on your behalf

Moving from out of town? Check out our relocation guide

First-Time Home Buyer Guide

Your Path to Homeownership

Get Pre-Approved

Define Your Priorities

Start Your Search

Make an Offer

Close the Deal

First-Time Buyer Incentives

First-Time Home Buyer Incentive

Home Buyers' Plan (HBP)

First-Time Home Buyers' Tax Credit

Land Transfer Tax Rebate

Helpful Resources

Relocating to KW?

Setting Up Utilities

Government Services

Buyer Tips & Guides

Ready to Start Your Journey?

Schedule a Free Consultation