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First-time homebuyers: Here’s your 2025 roadmap to homeownership!
Simplifying your journey with expert tips and tools.
Buying your first home is an exciting milestone, but it can feel overwhelming. That’s why we’ve created this roadmap—to guide you through every step of the journey. With expert advice and local knowledge from Jill Does, Realtor®, you’ll be equipped to make confident decisions. Let’s turn your dream into reality!
Assess Readiness
- Stable income
- Savings for a down payment and closing costs
- Good credit score
- Willingness to take on homeownership responsibilities
Plan Your Budget
- Breakdown of upfront costs:
- Down payment: 5-20% of the home’s price
- Deposit: An average 5% of the purchase price is paid within 24 hours of an accepted offer. This deposit goes toward the purchase price and is returned only if conditions are not met.
- Closing costs: 1.5-4% of the purchase price, which typically include:
- Land Transfer Tax
- Lawyer’s fees and disbursements
- Title insurance
- Home inspection fees
- Additional savings for moving and initial setup
- Moving costs
- Monthly budget calculator
Get Pre-Approved
- Documents you’ll need:
- Proof of income (pay stubs, tax returns)
- Credit report
- List of debts and assets
- Shop around for the best mortgage rates.
- Why Consider a Mortgage Broker? A mortgage broker can help you shop around and find the best product because they work with many lenders. This can save you time and potentially secure better terms or rates compared to working with a single lender.
House Hunting
- Checklist: Define your priorities:
- Must-haves (e.g., number of bedrooms, location)
- Nice-to-haves (e.g., finished basement, large backyard)
- Get listings for the newest properties (signup in the sidebar)
- Let us know what you like and we will go see it
Making an Offer
- Work with Jill to determine a competitive price
- Include conditions (e.g., home inspection, financing).
- Submit the offer and negotiate if needed.
- Provide Deposit
- Fulfill (Complete) Conditions
Closing the Deal
- Conduct a final walkthrough.
- Review all closing documents with Lawyer
- Sign paperwork with Lender
- Set-up Utilites
- Celebrate your new home!
FAQ
- How much should I save? Aim for 20% down payment plus 4% for closing costs.
- What are additional costs? Home inspection, property taxes, and moving expenses.
- How long does the process take? Typically 30-70 days from offer to close.
Ready to start your homeownership journey? Contact Jill Does today:
• Call or Text: 705-331-3341
• Email: jilldoes@myrealestateteam.net
Or fill-out the form in the sidebar to start getting customized listings.
Jill Does is a real estate agent since 2007. She serves the Southern Georgian Bay area including Collingwood, Wasaga Beach, Thornbury, Meaford and Creemore.
