Buyer Resources

Slav Loban’s buyer resources are designed to make your home-buying journey as smooth and informed as possible. Whether you’re a first-time buyer or looking to upgrade, you’ll find valuable tools and information to guide you at every step. From comprehensive market insights and expert tips to personalized home search options, Slav offers everything you need to make confident decisions. Access up-to-date listings, a step-by-step buying guide, and advice on financing, all tailored to your unique needs. With these resources, you can approach the Calgary real estate market with clarity and confidence, knowing you have a trusted expert by your side.

What to Consider When Searching for Your Perfect Home

When searching for the home you need and want, start by clearly defining your priorities—consider factors like location, budget, size, and lifestyle needs. Make a list of "must-haves" (e.g., number of bedrooms, backyard space, proximity to schools or work) and "nice-to-haves" to guide your search. Use online tools and resources to filter properties that meet your criteria, but don't overlook the importance of seeing homes in person to get a true feel for the space and neighborhood. Stay flexible, as sometimes the perfect home might require small compromises. Lastly, work with an experienced real estate agent, like Slav, who can help you narrow down options, provide expert market insights, and negotiate the best deal to ensure you find a home that fits both your needs and your vision.

Discover Calgary Homes For Sale

Viewing Calgary homes for sale offers you the opportunity to explore diverse properties in some of the city’s most desirable neighborhoods. Whether you're looking for a modern condo, a family home, or an investment property, Slav provides personalized tours to help you find the perfect fit, with expert guidance every step of the way.

View Calgary Homes For Sale

FAQ

Who Is A First Time Home Buyer?

In Canada, a first time homebuyer is typically defined as someone who has not owned a home or had any ownership interest in a residential property in the past four years. This definition may vary slightly depending on specific government programs, but the general criteria include:

No Previous Home Ownership: You must not have owned a home or had an ownership interest in a home in the past four years. This applies to both individuals and couples.

Primary Residence: The property you're purchasing must be intended as your primary residence.

Government Programs: Many Canadian government programs, such as the First Time Home Buyer Incentive and Home Buyers' Plan (HBP), are specifically targeted to individuals who meet this definition and offer various financial benefits to make homeownership more accessible.

There are some exceptions for individuals who have owned a home in the past but were in certain situations, such as those who are separated or divorced and no longer have ownership in a home. Specific provincial programs may also have slightly different criteria, so it's important to check the details of any relevant financial assistance.

What is the Home Buyers' Plan (HBP)?

The Home Buyers' Plan (HBP) allows you to withdraw up to $35,000 from your RRSP (Registered Retirement Savings Plan) to help buy your first home. If you’re buying with a partner, both individuals can withdraw up to $35,000, for a total of $70,000. The amount must be repaid to the RRSP over 15 years, starting in the second year after the withdrawal.

What is the First-Time Home Buyer Incentive?

The First Time Home Buyer Incentive (FTHBI) is a government program that helps first-time buyers reduce their monthly mortgage payments by offering a shared equity mortgage with the government. The government offers 5% of the home’s purchase price for existing homes or 10% for new homes, which you repay when you sell the home or after 25 years.

What is a "conditional offer" on a house?

A conditional offer is an offer to purchase a home that includes specific conditions, such as the buyer securing financing, a satisfactory home inspection, or the sale of the buyer's current home. The conditions must be met for the sale to go through.

What is CMHC insurance?

The Canada Mortgage and Housing Corporation (CMHC) insurance is required for homebuyers who are putting down less than 20% as a down payment. It protects the lender in case the borrower defaults on the mortgage. The cost of this insurance is added to your mortgage, and it varies based on the size of your down payment and the loan.

Do I need a home inspection before buying a house?

While not legally required, a home inspection is highly recommended. It provides an assessment of the home's condition, highlighting potential issues with the foundation, plumbing, electrical, roofing, or other aspects that may need repairs. It gives you an opportunity to negotiate the price or ask the seller to fix problems before finalizing the purchase.

What is a mortgage pre approval, and why is it important?

A mortgage pre-approval is when a lender evaluates your financial situation (credit score, income, debts, etc.) to determine how much money they are willing to lend you to buy a home. It’s important because it gives you a clear idea of your budget, helps you avoid wasting time on homes you can't afford, and shows sellers that you’re a serious buyer.

What is a mortgage stress test?

A mortgage stress test is a requirement for homebuyers to ensure they can still afford their mortgage if interest rates rise. It evaluates whether you could continue to make mortgage payments if rates were higher than your current rate. This is done to ensure that borrowers are not over-leveraged and can withstand changes in the financial landscape.

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