Tips to Keep in Mind When Buying Your First Home

Deciding to take the plunge and get into the housing market is an exciting (and terrifying) time. From open houses to home insurance, these tips will help you get prepped for your first home.

Tomorrow Never Dies

The majority of first-time homebuyers in Canada were born between 1980 and 1995, according to a recently released RE/MAX survey. This makes millennials the vanguards of the first-home real-estate market. If you’re in this demographic, you might be looking to fulfill your housing needs of today without thinking about tomorrow. Do you want kids soon, or maybe a new puppy? Looking at slightly larger properties or one with a yard might not make sense right now, but it will in five years’ time.

Open Sesame

When that magical “Open House” sign appears in your preferred neighbourhood, don’t be shy. Get in there, look around and put on your inspector’s hat, keeping your eyes open for nasty smells, ceiling or wall stains, or crumbling anything. Ask questions about the house, such as the year it was built, recent updates, and age of the HVAC, electrical and plumbing. If you don’t get all that you need due to crowds, make an appointment to come back.

For more helpful advice on how to break into Canada’s housing market, visit HGTV.ca.