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How I Saved For My First Home
How I saved for my first home!
When I was around 20 years old, I had (and still do have) a wonderful person in my life who I can proudly call my mentor. One thing that she gently pushed me to do was set up my finances with a financial planner who is amazing. Alana Burton set up an FHSA (first Home Saving Account) and a TFSA for me, and she took money automatically per month to go directly to both accounts. Doing this helped build up my FHSA for a few years, all the way until I was able to take the money out. I had money available for other closing costs like lawyer fees, moving expenses, paint, etc.
The next thing I did was reach out to a trusted mortgage broker, Laframboise Mortgages. Reaching out to a mortgage broker while you are getting closer to being able to buy a house is really helpful because they will tell you exactly how much more you need to save, and what steps you can take to be prepared to purchase. In my case, I was close to paying off my car payment, so I did, and that eliminated another monthly expense. Another thing a mortgage broker might suggest is to lower the amount on your credit cards and other payments if it is feasible for your situation.
Being in the Real Estate industry since I was 18 played a part in my being able to guide myself and my partner and align us with the professionals who I know can support first-time home buyers, upsizers, and downsizers. If you are thinking about purchasing your first home, I would absolutely recommend starting an FHSA – no matter how far away from purchasing. It’s something you can do yourself, or with help, as I did. That is how I saved for my first home!
If you are looking for a mortgage broker or help organizing your finances, these are the ladies I personally used!
Laframboise Mortgages – https://www.laframboisemortgage.ca/
Alana Burton – https://www.facebook.com/AdvisorAlana.Burton/
Check out this blog post! Market Education – First Time Home Buyer
“Hidden” Costs Of Buying a Home
‘Hidden’ Costs of buying a home.
When you purchase a new home, you are mostly thinking about your new mortgage and the down payment money. While also worrying about getting your conditions fulfilled. What you haven’t had time to think of is other costs that might not be so obvious, but you still need to budget and prepare for.
Closing Costs – Be prepared for the unexpected costs before closing – your lawyer will most likely need to be paid before closing. And prepaid taxes, title insurance, and other adjustments can all be more. Be sure you are planning for it.
Moving Supplies – When you start to think about packing, and you look at all your stuff, you might think, “I’m gonna need a lot of supplies for this.” From boxes, tape, and bubble wrap to the moving company. Don’t underestimate the expenses needed to actually move.
Land Transfer Tax* – can become forgotten about until you meet with your lawyers, and the number makes your eyes pop out of your head!
You can get a rough estimate of the land transfer tax based on the purchase price of your property. First-time home buyers may be eligible for a rebate.
Utility Hookups – Before you move into your new home, you have to set up your utilities. It may be required of you to pay a hookup fee to get your new utilities started.
Even though these costs aren’t actually ‘hidden’, they certainly are things that you might not think about until it is too late. So, now you can prepare yourself for the “hidden” costs of buying a home!
- Read more on the Land Transfer Tax here – Real Estate Terms Part One
February 2026 Real Estate Update
Time for your February 2026 Real Estate Update!
As we move further into 2026, February offers a clearer picture of how the real estate market is shaping up for the year ahead. While the start of the year is often quieter due to winter weather and the post-holiday slowdown, February trends can provide helpful insights. From buyer confidence to inventory levels, and overall market momentum. As the spring continues, I anticipate seeing an increase in sales activity in March. So follow along for the next update.
During the early months of the year, many buyers begin preparing for their home search. While sellers start considering whether it’s the right time to list their properties. As a result, February often acts as a transition period between the slower winter market and the more active spring season. New listings may begin to appear, giving buyers more options – while serious buyers who remained active through the winter continue to monitor opportunities.
February 2026 Real Estate Update
First-time home buyer? Check this blog post out to get educated. Market Education – First Time Home Buyer
Real Estate Terms Part One
Buying or selling a home can feel overwhelming—especially when real estate conversations start sounding like a whole new language. From listings and offers to conditions and closing dates, industry terms get used quickly and often without much explanation. That’s why understanding the words is so important when navigating the real estate market.
In Real Estate Terms: Part One, we’re breaking down some common real estate words and phrases you’re likely to hear during the buying or selling process. Whether you’re a first-time buyer, a seasoned homeowner, or just starting to explore your options, hopefully these definitions help you along the way!
Easement: A legal interest in a property owned by another person or company for a specific, limited purpose. For example, a public utility company may have an easement that lets them pass through a property.
Freehold: A form of homeownership where the homeowner buys the right to have full and exclusive ownership of a home and the land that it sits on for an indefinite period.
Land Transfer Tax: A tax charged by many provinces and municipalities (usually a percentage of the purchase price) that the buyer must pay upon closing. *First-time home buyers in Ontario can be exempt or eligible for a refund of up to $4,000 on Land Transfer Tax.
Counteroffer: An offer made by the seller of a home after rejecting an offer made by a potential buyer. The counteroffer usually changes something from the original offer, such as the price or closing date.
Leasehold: A form of homeownership where the homeowner buys the right to have full and exclusive ownership of a home and the land that it sits on for a definite period.
Title Insurance: Insurance against losses or damages that could occur because of anything that affects the title to a property. For example, a defect in the title or any liens, encumbrances or servitudes registered against the legal title to a home.
*Info from the Government of Ontario Click Here To Learn More
Unless stated otherwise, all definitions are taken from Homebuying Step By Step Guide – Your Guide to Buying a Home in Canada, by Canadian Mortgage and Housing Corporation. Revised 2017
Check Out Another Post! When is the Time Right?
January 2026 Real Estate Update
January 2026 Real Estate Update
Here's to the New Year! January is the month when the real estate market slowly wakes up after the holiday season. While activity typically starts the year at a quieter pace, January provides valuable insight into buyer and seller behaviour and helps set expectations for the months ahead. It’s a great time to look at how the market is performing and what trends may be shaping the year to come.
As we wait for the business of the spring market to arrive, we can reflect on the January numbers. This will allow us to prepare for what's to come with the current numbers.
January 2026 Real Estate Update:
Check out a blog post here! Market Education – First Time Home Buyer
What’s The Difference Between The Deposit and Down Payment?
What's The Difference Between The Deposit and Down Payment?
If you are new to the home-buying world, you may have heard the terms deposit and down payment mentioned a time or two. But did you understand the difference? When I bought my first home, it took me a minute to realize what the difference was. Hopefully, I can help you before you get too far into the home-buying process!
What is the Deposit?
The Deposit funds are what you provide with your offer to purchase. These funds are held in trust by the listing real estate brokerage and are later credited toward the total Down Payment at closing.
EX. $10,000 Deposit Amount + $20,000 In Savings = $30,000 Down Payment Amount
What is the Down Payment?
The Down Payment is the money you are putting towards the purchase. The mortgage makes up the rest of the funds required to purchase a property. These funds would be due at closing and are provided to your lawyer.
EX. $500,000 Purchase price - $30,000 Down payment = $470,000 Mortgage Amount
For more information on mortgages and down payments, check out the ladies at Laframboise Mortgages https://www.laframboisemortgage.ca/
Check Out Another Post Market Education – First Time Home Buyer
December 2025 Real Estate Update
December 2025 Real Estate Update! Time for what I think are the most boring stats of the year! While the numbers may not be the most exciting to look at, they do tell an important story. These stats clearly show that people took time to slow down, celebrate the holidays, and enjoy time with family and friends rather than focus on buying or selling. As a result, market activity typically dips during this season, which is completely normal.
Now that the holidays are behind us, we can start to anticipate the market coming back to life in the new year. Buyers and sellers are refreshed, motivated, and ready to make plans for the months ahead. With renewed energy and changing market conditions, we often see increased activity and new opportunities emerge. The quieter holiday period sets the stage for a more active and engaging real estate market as we move forward into the new year.
December 2025 Real Estate Market Update:
Check out a blog post! What’s The Difference Between The Deposit and Down Payment?
Finding The Right Neighbourhood
Finding the right neighbourhood checklist:
- Create a list of potential neighbourhoods that stand out to you. What are your priorities?
- Go for a visit with your family to some neighbourhoods that you have on your list. Explore the ins and outs, and the unique charm of each area.
- While on your visit, take note of things that stand out to you. whether they are good or bad, you will be thankful to reflect on them later.
- Think about how far the neighbourhood on your list is from your job, children’s schools, and everyday conveniences. Create your own score system, and rank them
Next time your family is thinking of making a move, keep in mind what you can to do when finding the right neighbourhood for everyone in your family!
Check out another post! Market Education – First Time Home Buyer
Fall Blooms
Fall blooms are a delightful reminder that the beauty of nature doesn’t end with summer. As the hot summer days wind down, there are still plenty of flowers to enjoy during the cooler months. Sunflowers may be wrapping up their season, but Mums are just getting started, and you can still enjoy the vibrant colours of coneflowers, chrysanthemums, hydrangeas, petunias, and even some late-blooming sunflowers. These hardy flowers can withstand the cooler fall temperatures, making them perfect for brightening up your garden or home with a fresh bouquet before winter arrives.
Fall is also the perfect time to plant certain flowers in preparation for next spring and summer. A good rule of thumb is that if the plant grows from a bulb, like tulips or crocuses, it should be planted in the fall. This gives the bulbs enough time to establish their roots before the ground freezes, but prevents them from sprouting too soon. Vegetables like garlic also thrive when planted in the fall—plant your garlic cloves a couple of weeks after Thanksgiving to get the best results next summer.
So, take advantage of the fall season to enjoy the last of the year’s blooms and get a head start on your spring garden! There’s still plenty of time to fill your garden with colour and flavour for next year. Start planting and enjoy the beauty and bounty of the season.
Check Out Another Blog Post Here! Waterfront Property Maintenance
Market Education – First Time Home Buyer
Do you know someone who is a first time home buyer? I can help with Market Education.
Your first home will NOT be perfect. But it WILL be the perfect first step with your long-term goals in home ownership.
Think about the BEST location for your dollar. Keep it as affordable as you can. Getting IN is still better than sitting on the sidelines. Real Estate wealth is the long-term game.
2021-2022 – High prices, low interest rates
2023 – Low prices, higher interest rates
2024- Lowering Prices, Lowering interest rates
2025 – Steading Prices, Lowering interest rates
But really…. THESE rates aren’t anywhere near what we considered “”high”” historically.
Looking past all the media frenzy, the strategy should be:
“𝑴𝒂𝒓𝒓𝒚 𝒕𝒉𝒆 𝑯𝒐𝒖𝒔𝒆, 𝑫𝒂𝒕𝒆 𝒕𝒉𝒆 𝑹𝒂𝒕𝒆”
The expectation is and historical data shows that pricing is surely going to heat up.
So today’s “lower price” can benefit long term. You can always refinance or take a shorter-term mortgage. We have great partners to talk to about finance products that specialize.
But you STILL benefited from a lower purchase price. Therefore equity growth over time.
So if you or someone you know is a first time home buyer, let’s talk. It is never too early to learn about the process and steps you need to take when wanting to purchase your first home!
Check out another blog post: Real Estate Market Types
