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First-Time Homebuyer Guide for 2025: Steps to Secure Your Dream Home

  • Writer: Komal Vij
    Komal Vij
  • Jan 3
  • 4 min read
First-time homebuyer guide Edmonton 2025

Welcome to your first step toward homeownership!

Buying your first home is exciting but can also feel overwhelming. With this First-time Homebuyer Guide 2025, I’ll walk you through every step to make your journey smooth and stress-free.

Let’s get started!

Step 1: Understand Your Budget

Before house hunting, you need to know what you can afford. Create a budget by reviewing your income, expenses, and savings. Be realistic and include costs like:

  • Down payment (minimum 5% for homes under $500,000 in Canada).

  • Closing costs (typically 1.5% to 4% of the purchase price).

  • Moving expenses and ongoing costs like utilities and maintenance.

Budgeting Tip: Use online calculators to estimate your monthly payments. If you’re unsure, let’s chat! I, Komal Vij, can guide you through budgeting for your first home in Edmonton.


Step 2: Get Pre-approved for a Mortgage

How to get pre-approved for a mortgage in Edmonton?

A mortgage pre-approval tells you how much you can borrow and shows sellers you’re serious. To get pre-approved:

  • Gather documents like proof of income, credit report, and ID.

  • Contact a mortgage broker (like me!) to compare mortgage options in Edmonton, including mortgage rates Edmonton January 2025.

Local Tip: Getting pre-approved ensures you’re ready to act quickly in Edmonton’s competitive market.

Buying your first home in Edmonton doesn’t have to be complicated, we are here to guide you through the process.


Step 3: Research home buying programs and incentives

The Government of Canada offers home buying programs and incentives for homebuyers. These can help you purchase your home. The programs and incentives include the following:

The Home buyers’ amount

You may be eligible to receive a non-refundable tax credit of up to $1,500.

GST/HST new housing rebates

You may be eligible for a rebate for some of the tax you pay when buying your home.

The Home Buyers’ Plan (HBP)

You may withdraw up to $35,000 from your registered retirement savings plan (RRSP) tax-free to buy your first home.

Budget 2024 increased the HBP withdrawal limit from $35,000 to $60,000. This limit applies to withdrawals made after April 16, 2024. 

The First Home Savings Account (FHSA)

You may be eligible to save up to $40,000 tax-free to buy a home with an annual contribution limit of $8,000.


Step 4: Make a Wish List

What do you need in your first home? Consider:

  • Location (schools, work commute, neighborhood, amenities).

  • Size (number of bedrooms, bathrooms, and yard size).

  • Future needs (room to grow or space for hobbies).

Keep your budget in mind and prioritize your needs versus wants.


Step 5: Hire the Right Professionals

Buying a home involves several experts. Here’s who you’ll need:

  • Mortgage Broker: To secure the best financing options.

  • Realtor: To help you find the perfect home and negotiate offers.

  • Home Inspector: To ensure the property is in good condition.

  • Lawyer: To handle the legal process to buy a home in Alberta.


Buy first house Edmonton 2025

Step 6: Start House Hunting

Now comes the fun part! Work with your realtor to find homes in Edmonton within your budget.


Step 7: Make an Offer

Once you find the perfect home, your realtor will help you draft an offer. The offer includes:

  • Purchase price.

  • Conditions (e.g., financing approval or home inspection).

  • Closing date.


Step 8: Conduct a Home Inspection

Home inspection tips in Edmonton:

  • Hire a reputable inspector.

  • Attend the inspection to ask questions.

  • Focus on major systems (roof, plumbing, foundation).

If the inspection reveals issues, you can renegotiate or walk away.


Step 9: Finalize Your Mortgage

After the offer is accepted, your mortgage broker finalizes the loan. This step involves:

  • Providing updated financial documents.

  • Confirming your down payment and insurance requirements.


Step 10: Close the Deal

The final step is closing day. Your lawyer will ensure all legal documents are signed, and funds are transferred. Once complete, you’ll get the keys to your new home!


FAQs: Edmonton Home Buying Made Easy

What are the steps to buy a house in Edmonton as a first-time buyer?

  1. Set a budget.

  2. Get pre-approved for a mortgage.

  3. Research grants and incentives.

  4. Find a realtor.

  5. House hunt and make an offer.

  6. Close the deal with a lawyer.

How do I start the home-buying process in Edmonton?

Start by contacting a mortgage broker (like me) to explore your financing options and get pre-approved.

What do I need to know before buying my first home in Edmonton?

Understand your budget, research incentives, and hire experienced professionals to guide you.

How long does it take to buy a home in Edmonton?

The process typically takes 2-4 months, depending on the market and your preparation.

What are common mistakes first-time homebuyers make in Edmonton?

  • Not getting pre-approved.

  • Overlooking hidden costs.

  • Skipping the home inspection.

Buying your first home in Edmonton should not be complicated, as we are here to guide you through the whole home buying process.


Ready to start your journey? Let’s make your dream of homeownership a reality.

Phone: 780-233-8500 Email: komalvijmortgage@gmail.com



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