First-Time Home Buyers
Buying your first home is an exciting milestone, but it can also feel overwhelming without the right guidance. Whether you're just starting to explore the market or you're ready to make an offer, understanding the process is key to making confident decisions. Not sure if you're ready to purchase? Start by evaluating your financial and lifestyle goals. Once you're ready to move forward, explore our tips to make it a success—from getting pre-approved to negotiating your offer. And don't forget to check out our additional resources designed to support first-time buyers every step of the way. Plus, we've highlighted entry-level homes currently available in St. John's and the surrounding areas to help you take the next step with confidence.
Contact us today if you have any questions or would like more information about our home buyer's services and / or our marketing plan.
Entry-Level Homes for Sale in St. John's and Surrounding Areas
Please complete the form below if you would like to start looking for your new home immediately.
Questions for Prospective Homeowners
1. Are you ready for home ownership? You will need to be prepared to maintain your home through the years, understanding a portion of your income and time will go on maintenance. It's about taking the risks of home ownership, with a realistic expectation of rewards.
2. How much can you afford to spend on a home? Keep in mind giving up too big a portion of your income to pay a mortgage can turn home ownership into a burden quickly. It's a better idea to buy a smaller home now, then look into buying your dream home a few years down the road.
3. What is your ratio of debt-to-income? This is something that lenders always take quite seriously. Overall debt shouldn't be above 40% of your income, and your housing debt shouldn't be above 32%.
4. What type of property do you want? Does the thought of cleaning your own gutters not bother you? Would you like to putter in a garden? Would you rather pay a monthly fee to have everything done for you? Would you like to live in rural or urban setting? Questions like these can narrow your search for the right type of property. Ask yourself what you really want.
Tips for Real Estate Buying Success
Buying your home is fun, exciting and sometimes complicated. There's so many emotions. You're over the moon - you just found the best deal ever! You're nervous - your dream home has a shallow well and septic? Wow - hardwood floors and a fireplace but what are those wires running on top of the baseboards? How do you know when you should negotiate issues or withdraw your offer and keep on looking.
When you are buying your first home working with a professional, knowledgeable Realtor® is such a smart choice. They know the ropes, the market, the associated professionals - lawyers, home inspectors, mortgage professionals, and contractors. It's their job to look after your best interests.
Our team is dedicated to helping you find just the right home, at the best price. Talk to us about what you want, and your budget. We know the market and we'll find a way to merge these two priorities to find the place you'll love to call home.
- Keep your objectives in mind when visiting a home. Sometimes the idea of owning a particular home can overwhelm your practical sense. Keep a list handy of the features that you need and want in a home. When you're alone with your agent, you can go over the pros and cons of each home. We can help you stay on track while still keeping our eyes out for a great property.
- Engage the services of a good real estate lawyer. We can recommend several lawyers in the area who might be a good fit for you. Interview them to ensure that you get someone you can work with. The legalities of transferring land ownership can be dodgy, and a lawyer is your best defense against future legal troubles. A good lawyer can charge several hundred to over a thousand dollars for their services, but the thousands of dollars saved in possible legal fees later on makes this a good expense.
- Make the offer. This can be a maze of new terms, legal responsibilities, and loopholes. We'll prepare the paperwork and go through it with you before submitting it. You'll have to write a deposit check to the seller's broker that proves the seriousness of your offer.
- Get all necessary inspections done. A home inspector will check for signs of harmful materials like asbestos, lead paint and mold. They'll also check for evidence of pests, faulty wiring and leaks. This is a crucial part of the home purchase. Not getting an inspection done means that you could be stuck in a home with costly deficiencies and no recourse other than to pay for its removal. Inspections will cost a few hundred dollars, but again, this is more than worth it in the end. There are several inspectors in the area that we'd be happy to recommend.
- Do a final walkthrough before closing the deal. We'd be happy to do this with you to make sure that everything agreed upon is completed prior to the final signing.
From the first interview that determines your requirements to the moment that you receive the keys, we can help you with the complicated process of buying a home. Don't hesitate to contact us to find out more about how we can make the home buying process easier!
Additional Resources
The Hann Group: St. John's Home Services Community Directory