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Tips for First Time Home Buyers

If there’s one thing that Team Thompson Real Estate Group loves, it's working with first time home buyers in Penticton. The excitement is almost always palpable and we love nothing more than sharing our knowledge of the Penticton and South Okanagan real estate market along with our personal network of professional resources to help ensure the process of buying your first home is a great experience!

It is essential as a first time home buyer in the real estate market that you work with someone who is experienced with first time buyers. First time buyers will usually have more questions than people who have purchased real estate previously. Buying a home is not a simple process, especially when you are not familiar with it. You may not know what price range of properties you can look at, what mortgage payments you can afford, or how the general home buying process works. For a first time buyer, we generally recommend getting to a bank or seeing a Penticton mortgage specialist as soon as possible to determine what you can afford and what you are comfortable with paying each month. You can then be ‘pre-approved’, which is the first step to getting you into an affordable home and getting you started in the market.

Team Thompson Real Estate Group can provide the answers to your questions and walk you through the entire process, from viewing potential homes, to making an offer, to setting up mortgage financing. Although buying your first home can be overwhelming, you can be confident that we will be available to help you every step of the way. We enjoy the process as much as you do, and find it very exciting! We can all still remember buying our first homes and all of the questions that we had. Having a real estate agent that was willing to be available and answer our questions made the process so much easier and calming. This is the same commitment that Team Thompson makes to all of our first time buyers, and anyone that we work with.

There are many reasons a person should buy a home, but the most common are:

It is a great investment. With the steady increase in real estate and the limited amount of rental properties in our city, it is important to get into the market as soon as you can. It is smart to get your foot on the first rung of the property ladder. Chances are you will not be able to start out by buying your Penticton dream home, but it is the first step in advancing to that dream and to build some equity to put towards your next home.

Two out of three Canadian families own a home – one of the highest rates of home ownership in the world.

Lock in your monthly payments for several years without worrying about sudden payment increases while your house increases in value

Don’t forget pride and comfort in owning your own home.

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