First-Time Home Buyer Checklist

• [ ] Check your credit score (aim for 680+ for best rates)
• [ ] Get a mortgage pre-approval from a lender or broker
• [ ] Determine your maximum budget (including closing costs)
• [ ] Save for down payment (minimum 5% under $500K, 10% on the portion above)
• [ ] Budget for closing costs (1.5–4% of purchase price)
• [ ] Save for CMHC insurance if down payment is under 20%

• [ ] Choose a neighbourhood and research amenities
• [ ] Work with a REALTOR® (verify their registration)
• [ ] Attend open houses and private showings
• [ ] Research local property taxes and utility costs
• [ ] Check school districts and transit access

• [ ] Review recent comparable sales (comps) in the area
• [ ] Determine your offer price and conditions
• [ ] Include conditions: financing, home inspection, status certificate (condo)
• [ ] Provide an earnest money deposit
• [ ] Negotiate closing date and included appliances

• [ ] Hire a professional home inspector
• [ ] Review the status certificate (for condos)
• [ ] Verify property boundaries and zoning
• [ ] Check for outstanding liens or encumbrances
• [ ] Confirm property taxes are up to date

• [ ] Hire a real estate lawyer
• [ ] Finalize your mortgage approval
• [ ] Purchase home insurance (required by lender)
• [ ] Arrange utility transfers
• [ ] Do a final walkthrough before closing
• [ ] Bring certified funds for closing costs
• [ ] Collect keys on closing day

Don't skip the home inspection — even on new builds, hidden issues can cost thousands. Budget conservatively — closing costs and immediate repairs add up fast. Get pre-approved before house hunting — sellers take pre-approved buyers more seriously.