There is no doubt that buying your first home is an exhilarating experience. It is the start of a new chapter, a new found independence and a huge milestone, but it can also create a sense of fear and uncertainty. Today I want to break down the experience, touching on; the basics of buying and how Fall 2025 buyers are winning.
Real estate is a competitive market and it can often feel discouraging, keeping a competitive edge is very important when purchasing a home. Real estate has always been known to be a competitive industry, for buyers, for sellers, and for agents too. Focusing on how to get ahead of the curve and “how can I best achieve my goals” is what sets you apart. Statistics show that fall is the second most popular time to buy and sell real estate… (is this what might set you apart?) Fall market lines people up for success… less competition then spring market, while still maintaining a good inventory.
If you know you are getting ready to enter the market, talk to a mortgage professional and obtain a pre-approval, which are typically valid for up to 90 days. A pre-approval will not only help you establish a budget but will provide peace of mind in knowing that you can acquire a mortgage. Knowledge is experience, which is why a local Realtor is always recommended. You want someone that will foster a positive relationship and have ample insights about the local neighbourhoods and market!
2025 has been a year of lowered purchase prices offering a great incentive to buyers to get into the market. Last month stats reached what was expected to be the bottoming point and are predicted to slowly start increasing. Now is the perfect time to take advantage of these lower prices and get into a home. Aside from this there are many government incentives that you as a first time buyer can leverage to benefit from and save money. As of April 16, 2024 RRSP withdrawals for FTHB to use towards a downpayment have been increased from $35,000 to $60,000. Things like the Land Transfer Tax Rebate and the First Time Home Buyer Tax Credit are ways that you may be able to earn some money back! Take the time to research and consult with professionals like your bank, financial advisor, mortgage lender, realtor and tax expert to ensure you are making an informed decision, after all this is a huge purchase and you deserve the best team!
Isabel Livingston
Sales Representative
Gale Group Realty Brokerage Ltd.
226.232.4236