READY FOR FIRST TIME HOME OWNERSHIP?

Your dream may be to own your own home in Saskatoon and area, but in order for your home purchase to be the happy and satisfying experience it was meant to be; you need to ensure that you are financially and mentally prepared for the responsibilities that come with being a first time home buyer.

Some people have an idea that home ownership is like renting, but with the power to have pets and paint the walls whatever colour you like. While these privileges are available to homeowners in most municipalities, they come with the responsibilities of a mortgage, taxes and home maintenance. Preparing for home ownership in Saskatoon, SK requires you to take a hard look at your finances AND your expectations.

4 QUESTIONS FOR POTENTIAL first TIME BUYERS

1) Are you ready to purchase your first home?

Owning your own home is about more than just being able to decorate it the way you like; it's about preparing yourself to maintain your home for many years. Your time and income will go towards home repairs and maintenance. It's about being willing to take the risks of home ownership with a realistic expectation of the rewards.

2) How much can you afford?

It can be disheartening to find that you don't earn enough to purchase the home you truly desire. However, giving up a large part of your income just to pay the mortgage can very quickly make home ownership no longer fun. It's better to stick within your budget and look at purchasing your "dream home" in a few years. We will be there to support you in your first Saskatoon and are home purchase and all the ones that follow!

3) What is your debt-to-income ratio?

This is something that mortgage lenders take very seriously. Your overall debt should not be more than 40% of your income, and your housing debt should not be more than 32%. What 32% of your income will buy depends on where you want to live. In rural or less popular areas for example, it can buy a very comfortable residence and ample acreage. In highly sought-after Saskatoon urban areas however, it may not even buy a 400 square foot contemporary suite in a trendy downtown apartment building.

4) What do you want?

Do you like the idea of cleaning your own gutters? Do you cringe at the thought of lawn care? Would you rather just pay a fee every month and have everything done for you? We ask these kind of question so we can help you narrow down the search for the right type of Saskatoon and area property for you and your circumstances.

SEARCHING FOR A HOME

Despite (and perhaps because of) the great selections in homes in this area, buyers are having a difficult time zeroing in on the home or property that is uniquely appropriate for their needs.

Just remember: Browsing the listings for months is one way search out the deals, but weighing the investment potential of each property can be difficult, and many homes for sale are never listed publicly.

HOW WE HELP FIRST TIME HOME BUYERS

We provide the experience and expertise of Saskatoon REALTORS®

Our Saskatoon real estate team is dedicated to helping you find the right home, at the best price. We want you to find the home that will make you happy and successful in real estate ownership. We are hardworking and available 7 days a week!

When you hire The Turner Thiessen Team to help you buy your first home in Saskatoon, SK, we want to know how much you can afford and what you want. This will allow us to merge these two priorities and find a home that you'll enjoy owning.

We keep your objectives front of mind when viewing properties.

Sometimes the idea of owning a home can overwhelm your practical sense, so keep your feelings in check. Keep a list handy of the features that you both need and want in your new home, and judge each property by that list, instead of by details that could distract you from your goal. When you're alone with your REALTOR®, you can go over the pros and cons of each home. We can help you stay on track while still looking for a great property that meets your criteria.

We engage the services of a proven and trusted real estate lawyer.

We can recommend several lawyers in the area who might be a good fit for you. Interview them to ensure that you get someone you can work with. The legalities of transferring land ownership can be dodgy, and a lawyer can be your best defense against future legal troubles. A good lawyer can charge several hundred to over a thousand dollars for their services, but the thousands of dollars saved in legal fees later on makes this a good expense.

We help you make the offer.

This can be similar to navigating a maze. Their will be terms such as "buyer", "seller", "chattels", "deposit", "conditions" and "completion". As your REALTOR® we are happy to prepare the paperwork and review it with you before submitting the offer. Remember, the seller may reject or counter your offer, so it's best to avoid setting your heart on the home you hope to own. If your offer is accepted you will have to provide deposit funds at this point in time.

We ensure all conditions are met.

A qualified Saskatoon home inspector will check for signs of harmful materials like asbestos, lead paint and mold. They'll also check for evidence of pests, faulty wiring and leaks. This is a crucial part of the home purchase. Not getting an inspection done means that you could be stuck in a home with a bad case of black mold and no recourse other than to pay for its removal. Inspections will cost a few hundred dollars, but again, this is more than worth it in the end. There are several inspectors in the area that we'd be happy to recommend.

We do a final walkthrough with you before closing the deal.

As your trusted Saskatoon real estate team, we make sure that everything agreed upon is completed prior to the final signing

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Ashley & Jeff are an award-winning, husband-and-wife real estate team with CENTURY 21® Fusion, dedicated to helping the families of Saskatoon find their dream homes.

Turner Thiessen Team | CENTURY 21 Fusion

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Ashley	Jeff
(306) 260-0219 \| ashley.turner@c21.ca	(306) 203-1208 \| jeff.thiessen@c21.ca

210-310 Wellman Lane, Saskatoon, SK S7T0J1

(306) 653-8222

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