First Time Buyers: How to Make the Right Decisions

Buying your first home is an exciting experience and a life-changing accomplishment. If you are on your way to becoming a home owner for the first time, you probably have plenty of decisions on your mind. The good news is that you don’t have to do it alone.
Because buying a home is a major financial decision, it’s wise to start your home-buying process by speaking to a mortgage professional. They will require you to complete a simple application to determine if you qualify for a mortgage, and will be able to tell you how much you can afford to spend. When considering a purchase price that you are comfortable with, ask your mortgage lender to help you calculate your monthly payments. It's important to buy a home that meets your needs, but still leaves you with enough money for savings and other activities that are important to you. If you don’t receive a mortgage approval right away, don’t be discouraged. Your mortgage lender will help you put together a plan to get you on track as quickly as possible.
Don’t forget to consider your long-term plans. The longer you live in a home, the more equity you will build over time. A small, one-bedroom condo might be very affordable today, but will the space work for you 2-3 years from now? In some cases, it’s wise to spend a little more in order to avoid making another move a few years down the road. You can also consider the possibility of converting your first home into an income property when the time comes to move on up.
Keep an open mind when you start your property search. Even if you have your heart set on a certain type of home, or a very specific neighbourhood, you don’t want to miss out on a great property because it is outside of your vision. Be open to exploring new neighbourhoods; you never know what kind of hidden gems may come on the market during your search for the perfect home.
Are you buying or selling a home in Calgary? Do you want an agent who has the enthusiasm and energy to get things done, with your best interests in mind at all times? Contact me at 403-617-8758, kelmacdonald@gmail.com or www.kellymacdonald.ca and let's make good things happen!
About Kelly Macdonald
Kelly Macdonald is a Realtor® with The Real Estate Company in Calgary, where she has been living (and loving it!) since she was 10. Kelly offers her clients a unique mix of youthful vigor, creativity and technical and design savvy on one hand, and professionalism and transactional expertise from her business degree and strong administrative background on the other. Kelly is also a devoted wife and mother of two, with whom she finds time from her busy schedule to play scrabble and walk by the beautiful lake of their home in Southeast Calgary.