Tony de Silva Real Estate Professionals Inc.
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Calgary Listings

Tips for First-Time Buyers

You're not going to buy a house simply because there's a pretty photo posted online, but you can conduct a lot of price research. Always seek the help of people who have experience in this industry. Tony de Silva is one of those people in Calgary, Alberta. Below are his tips for first-time homebuyers.

Get Insurance

Make sure that you understand the difference between insuring the structure and insuring the contents. If you are buying property that is close to water, make sure that you have an agent who can help you enroll in a good flood insurance program.

Do a Budget

This tells you where your money is going, where you can cut back, and where you can save. The budget then helps you work out what you want, need, and can afford.

New Homeowner and Son

Family In Front of First Home

Set Your Goals

How much can you afford? What should you be aiming for? It's best to answer these kinds of questions now, so you can work them into a budget. As a general guide, your mortgage repayments should not exceed 30 percent of your before-tax income.

Work Your Money

Maximize your savings by taking them out of low-interest bank accounts. Alternative accounts, such as high-interest e-accounts or bonus savers, offer a better return and are still capital guaranteed.

Check Your Credit Rating

Before approaching a lender, ensure there are no nasty surprises in your credit file. There's nothing worse than being refused a loan because of a silly little debt that you fixed up years ago.

Do Your Homework

To get the best possible home loan at the right price, you must do your homework. Or you can call Tony. He will help you answer all of these questions. What type of property are you after: a house, townhouse, or unit? Consider its location and features, but make things easier by limiting your search to a few suburbs.

The Most Important Tip

Talk to a REALTOR® and get as much information as you can get. An experienced real estate agent will give you good advice and guide you well.

Couple With Computer