Smart advice to buy your first home in Canada

(EN) If you have recently immigrated to Canada, you may be considering buying a home, and the process may differ greatly from what you know in your home country. It’s normal to ask yourself a lot of questions about the real estate market and how to start your research. Whether you are still undecided on the province of your choice, or you already have a penchant for certain neighborhoods, it is important to be informed and comfortable to undertake the shopping of a house: it is one of the most important and probably the most costly decisions in your family life.Smart advice to buy your first home in Canada.

Here are some tips to help you shop for your first home in Canada:

Consider using a real estate agent:

The job of a real estate agent is not limited to helping you find a home. Whether it’s listing the properties that suit your budget, negotiating the purchase offer or filling out the necessary forms, the real estate agent pulls all the strings necessary to find the house that suits your expectations. He accompanies you throughout your purchasing process, and helps you understand the intricacies of the Canadian real estate market.

Make sure you understand the regional real estate market:

Before you begin your research, be sure to study the province’s real estate market, as markets vary significantly across the country. The RBC Real Property Accessibility Tool will assist you in this process by providing you with home prices in the area you are interested in. This tool will also put you in touch with a mortgage advisor, who can help you achieve your goals when it comes to buying a home in Canada.

Study the location:

Before making a decision, take the time to ask questions. Learn about the market and the various neighborhoods, and think about the things that matter to you. Such as being near schools, public transportation, grocery stores and other services. Connections with community members through social programs, volunteering or local attractions can strengthen your sense of belonging to your adopted country. Find out about the services or programs that suit your interests. These details could make all the difference.

Consider the cost of ownership:

Buyers often forget to consider the cost of owning a home, which can be much higher than you would imagine. In order to establish a realistic budget. It is important to properly assess heating and air conditioning costs, municipal and school taxes, and maintenance costs. If you are buying an existing home. Your real estate agent can help you obtain a copy of the current owner’s invoices – electricity, water, gas, taxes. Which will allow you to more accurately assess your ownership costs.

Go to rbc.com/new-comers to find other ways to save and settle in faster.

Smart advice to buy your first home in Canada

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