First-Time Home Buyer’s Guide: 10 Steps For Buying Your First Home

Buying your first home requires careful preparation, especially with high housing prices in Canada. A down payment typically ranges from 5% to 20% of the home's price, with additional costs like closing fees, home inspections, and property taxes. First-time buyers can access various incentives, such as the First-Time Home Buyers Incentive and the RRSP Home Buyers Plan. It's crucial to assess your financial situation, get mortgage preapproval, and consider factors like location and property type before making an offer.