First Time Home Buyers in Niagara - Eddy Pybus

In Canada the minimum down payment depends on the purchase price. For homes under $500,000 the minimum is 5%. For homes between $500,000 and $999,999 it is 5% on the first $500,000 and 10% on the remainder. For homes over $1,000,000 a minimum of 20% is required. With average home prices in the Niagara Region around $676,000 many first time buyers can get into the market with a down payment of around $45,000 to $50,000 - significantly less than what would be required in Toronto

The Canadian government offers several programs to help first time buyers including the First Home Savings Account (FHSA) which allows you to save up to $40,000 tax free for your first home, the Home Buyers Plan which lets you withdraw up to $35,000 from your RRSP tax free, and the First Time Home Buyers Tax Credit which provides up to $1,500 in tax relief. Eddy Pybus works with trusted mortgage professionals in the Niagara Region who can walk you through every program you qualify for.

The home buying process in Ontario typically follows these steps - get pre-approved for a mortgage, work with your realtor to find the right home, make an offer, negotiate terms, complete a home inspection, satisfy any conditions, and close the transaction. Eddy Pybus walks every first time buyer through each step in plain language so you always know exactly what is happening and what to expect next. No confusing jargon and no surprises!

Closing costs in Ontario typically range from 1.5% to 4% of the purchase price and include land transfer tax, legal fees, title insurance, home inspection fees, and adjustments. First time buyers in Ontario receive a rebate on provincial land transfer tax of up to $4,000 and in some municipalities an additional municipal land transfer tax rebate. Eddy Pybus will give you a clear breakdown of all expected closing costs before you make an offer so there are no surprises on closing day.

While a home inspection is not legally required in Ontario it is strongly recommended especially for first time buyers. A professional home inspection gives you a clear picture of the condition of the property including any major issues that could be costly to repair. Eddy Pybus always recommends a home inspection and works with trusted local inspectors in the Niagara Region to ensure you have all the information you need to make a confident decision.

The timeline varies but most first time buyers should allow 3 to 6 months from starting their search to closing day. This includes time to get pre-approved, search for the right home, negotiate an offer, complete conditions, and close the transaction. The closing period itself is typically 30 to 90 days after an accepted offer. Eddy Pybus will work at whatever pace is right for you and will never pressure you to move faster than you are comfortable with.

Absolutely yes! Getting pre-approved before you start looking at homes is one of the most important steps a first time buyer can take. Pre-approval tells you exactly how much you can afford, makes your offer more competitive, and avoids the heartbreak of falling in love with a home that is outside your budget. Eddy Pybus can refer you to trusted mortgage brokers in the Niagara Region who work with first time buyers every day and know all the programs available to you.

Absolutely! The Niagara Region is one of the best markets in Ontario for first time buyers right now. With average home prices significantly lower than Toronto and Hamilton, a wide variety of property types at every price point, and a strong sense of community across every city in the region, Niagara offers first time buyers a genuine opportunity to get into the market and start building equity. Eddy Pybus has helped countless first time buyers across Niagara Falls, St. Catharines, Welland, Thorold, and Fort Erie find their perfect first home.

Eddy Pybus is a born and raised Niagara Falls realtor with eXp Realty and over 15 years of experience helping buyers and sellers across the Niagara Region. Known for his honest advice, deep local knowledge, and personal one on one service, Eddy has built his reputation one relationship at a time. When you're Ready...Call Eddy at 289-219-4111.