First time home buyers
Buying Your First Home in Edmonton
Buying your first home is one of the most exciting things you'll do. It can also feel overwhelming when you're not sure where to start or what to expect. Clare Packer Realty Group has helped many first-time buyers navigate the process from start to finish, and we know how to make it feel manageable.
Every Buyer Starts Somewhere
There's no such thing as a silly question when you're buying your first home. We work with first-time buyers regularly and understand that the process involves a lot of unfamiliar language, moving parts, and moments where you just need someone to explain what's actually happening.
Our approach is patient, straightforward, and always focused on making sure you feel informed and confident at every step. We won't rush you, and we won't push you toward a decision that doesn't feel right.
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What the Process Actually Looks Like
The buying process has more steps than most first-timers expect, but each one is manageable when you know what's coming. Here's a straightforward overview of how it typically unfolds.
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Step 1: Get Mortgage-Ready
Before you start looking at properties, it's important to understand what you can afford. That means speaking with a mortgage professional to get pre-approved. Pre-approval gives you a clear budget to work with and shows sellers that you're a serious buyer. If you're not sure where to start, we can point you toward trusted mortgage professionals in Edmonton.
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Step 2: Define What You're Looking For
Once your budget is clear, we sit down together to talk through your priorities. Neighbourhood, size, style, must-haves versus nice-to-haves. First-time buyers often find that their list shifts a little once they start viewing properties, and that's completely normal. Our job is to help you stay focused on what matters most without losing sight of what's realistic in your price range.
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Step 3: Start Viewing Properties
We arrange viewings for properties that genuinely match your criteria and are there with you at every showing. Beyond pointing out features of the home itself, we share what we know about the neighbourhood, how the property compares to others you've seen, and anything worth paying attention to before you consider making an offer.
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Step 4: Make an Offer
When you find a home you want, we help you put together a competitive offer. We walk you through what each term means, what conditions are worth including to protect you, and what to expect from the negotiation process. You'll never be asked to sign something you don't fully understand.
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Step 5: Conditions and Home Inspection
Most first-time buyer offers include a condition allowing you to have the home professionally inspected. This is an important step and one we strongly encourage. The inspection gives you a clear picture of the property's condition before you commit. We help you understand the results and decide how to proceed.
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Step 6: Closing and Getting Your Keys
Once conditions are met and financing is confirmed, you're in the final stretch. We stay closely involved through closing so you know exactly what's happening and when. On possession day, you get your keys and the home is yours.
Questions We Hear Often
How much do I need for a down payment?
In Canada, the minimum down payment depends on the purchase price of the home. For homes under $500,000, the minimum is 5%. For homes between $500,000 and $999,999, it's 5% on the first $500,000 and 10% on the remainder. For homes $1,000,000 and above, the minimum is 20%. Your mortgage professional will walk you through what this means for your specific situation, including any applicable mortgage insurance.
Should I get pre-approved before I start looking?
Yes, and we'd recommend doing it before you fall in love with a property. Pre-approval clarifies your budget, strengthens your offer in the eyes of a seller, and avoids the disappointment of finding out later that a home you loved isn't within reach. It also tends to speed up the process once you're ready to make an offer.
What other costs should I budget for?
Beyond the purchase price and down payment, first-time buyers should plan for closing costs, which typically range from 1.5% to 4% of the purchase price. These include legal fees, title insurance, a home inspection, and land title transfers. Some of these costs may be offset by first-time buyer programs available in Alberta, which we're happy to walk you through.
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Clare Packer Realty Group
Clare Packer Realty Group
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Not sure where to start? That’s okay!
Most first-time buyers come to us with more questions than answers, and that's exactly where we like to begin. Reach out and we'll have a straightforward conversation about your situation, your budget, and what the process looks like from here.
No pressure. No obligation. Just clear guidance from people who have helped a lot of first-time buyers find their way home.