What Every First-Time Home Buyer Should Know in Calgary

Buying your first home is exciting — but it can also feel overwhelming. Here’s what you need to know to feel confident and prepared on your homeownership journey:

✅ 1. Get Pre-Approved Before You Start Looking

Before you fall in love with a home, talk to a mortgage advisor to understand your borrowing power. A pre-approval shows sellers you're serious and helps you stay within your budget.

✅ 2. Know Your Budget Beyond the Purchase Price

It’s not just about the down payment. You’ll also need to budget for:

• Legal fees

• Home inspection

• Appraisal

• Property tax adjustments

• Mortgage insurance (if down payment < 20%)

✅ 3. Understand Down Payment Requirements

The minimum down payment in Canada is:

• 5% for homes up to $500,000

• 10% on the portion between $500,000–$999,999

• 20% for homes over $1M (no CMHC insurance)

✅ 4. Use the First-Time Home Buyer Incentives

You may qualify for programs like:

• RRSP Home Buyers' Plan (HBP) – borrow up to $35,000 tax-free

• First-Time Home Buyer Tax Credit

• CMHC Incentive (shared equity for lower monthly payments)

✅ 5. Work with a Knowledgeable REALTOR®

This is likely the biggest purchase of your life — don’t go it alone! As a professional Realtor, I help you:

• Navigate the market

• Analyze neighborhoods

• Submit competitive offers

• Negotiate with confidence

• Avoid costly mistakes

✅ 6. Don’t Skip the Home Inspection

Even if the home looks perfect, always get an inspection. It protects you from hidden issues and gives peace of mind before closing.

✅ 7. Be Patient — and Prepared

The Calgary market can be competitive. I’ll help you stay informed, act fast, and make smart decisions so you don’t overpay or rush into the wrong home.

🤝 Ready to start your journey?

I specialize in working with first-time buyers and can guide you step by step — from mortgage advice to move-in day.

📲 Ton Nguyen – Calgary Realtor
📧 ton.nguyen@exprealty.com
📞 403-473-5555
🌐 www.tonnguyen.ca