First-time Homebuyer Stories
Buying your first home is no easy task. You have to save enough money for a down payment and closing costs. You have to find out how mortgages work and how to get one. You have to research neighbourhoods and homes, and find a realtor. And once your offer is accepted you have to navigate home inspections, lawyers, and moving. To add to the challenge, first-time homebuyers in Toronto and Vancouver are up against two of the toughest real estate markets in the world. Buyers in Canada’s largest cities contend with bidding wars, often have to make unconditional offers, and are watching house prices go up faster than they can save for a down payment. Despite these challenges, thousands of first-time homebuyers find a way to buy their first home every year. We’ve spoken to a few first-time homebuyers to learn their stories, and pass on their advice to you. These are their stories.