First-Time Buyers
Buying Your First Home? We've Got You.
The process can feel overwhelming — mortgages, conditions, closing costs. We break it down into clear steps and walk beside you the entire way. Our first-time buyer clients become confident homeowners, not nervous ones.
The Process
8 Steps to Owning Your First Home
From understanding your finances to getting the keys — here's exactly what to expect.
Understand Your Finances
Start by reviewing your income, debts, and savings. Use our mortgage calculator to estimate your borrowing capacity, check your credit score, and budget beyond the purchase price — property taxes, insurance, and maintenance add up.
Get Pre-Approved
Pre-approval tells you exactly what you can spend and shows sellers you're serious. We connect you with trusted local lenders who compare rates across multiple institutions — fixed, variable, and hybrid options explained in plain language.
Start Your Home Search
We help you define your must-haves and deal-breakers, then set up a live MLS search tailored to your criteria. New listings that match hit your inbox the moment they're live — often before they appear on public sites.
Make a Strong Offer
When you find the right home, we run a Comparative Market Analysis to determine a fair price. We craft a competitive, well-structured offer with protective conditions — financing, inspection, and appraisal — and negotiate hard on your behalf.
Home Inspection
Never skip this step. A qualified inspector reviews every system in the home and gives you a detailed report. If issues surface, we help you negotiate repairs or credits before you're locked in.
Finalize Your Mortgage
Submit your final documentation, review your mortgage terms carefully, and secure home insurance before possession day. Your lender will confirm the funds are in place — we coordinate with all parties to keep things on schedule.
Close the Deal
Your real estate lawyer reviews and registers the title transfer, you pay closing costs (typically 1.5–4% of the purchase price), and complete a final walkthrough. On possession day, the keys are yours.
Move In & Settle Down
Change your locks, set up utilities, and start making it your own. We stay in touch after closing — if you have questions about your new neighbourhood, upgrades, or anything else, we're still your team.
Down Payments
How Much Do You Need to Put Down?
Canadian mortgage rules set minimum down payments based on purchase price. Here's what applies in Alberta:
Putting down 20% or more avoids CMHC mortgage default insurance, which can add thousands to your cost. We'll help you weigh the tradeoffs.
Government Programs
Money You May Be Leaving on the Table
First-time buyers in Canada have access to several programs that can save you thousands. We walk you through every one you qualify for.
First Home Savings Account (FHSA)
Contribute up to $8,000/year (lifetime $40,000) and deduct it from your taxable income. Withdrawals for a qualifying home purchase are tax-free.
Home Buyers' Plan (RRSP)
Withdraw up to $35,000 from your RRSP tax-free for a first home purchase. Repay it over 15 years with no tax hit.
First-Time Home Buyers' Tax Credit
Claim up to $10,000 on your tax return — worth $1,500 in tax savings — in the year you purchase your first qualifying home.
GST/HST New Housing Rebate
If you buy a newly built home, you may qualify for a partial GST rebate. We'll connect you with a lawyer who can calculate your eligibility.
Why Maverick Group
We Specialize in Making First-Timers Feel Like Pros
- No jargon — we explain everything in plain language
- You deal with one agent, not a revolving door of assistants
- We tell you when to walk away, not just when to buy
- Our buyer representation costs you nothing
FAQ
First-Time Buyer Questions, Answered
How much does a buyer's agent cost?
In Alberta, the buyer's agent commission is typically paid by the seller — so our services cost you nothing as a first-time buyer. We work for you, not the seller, and our fiduciary duty is to protect your interests.
How long will it take to find a home?
Once pre-approved, finding the right home can take a few weeks to several months depending on your criteria and market conditions. Closing typically takes 30–60 days after an accepted offer.
Can I buy with less than 20% down?
Yes — with as little as 5% down. Homes under $1M with less than 20% down require mortgage default insurance (CMHC), which is added to your mortgage. We'll explain exactly how this affects your payments.
What's a condition on financing?
A financing condition gives you a set number of days (usually 5–7) to confirm your mortgage is approved before the deal becomes firm. It's a critical protection for first-time buyers — we always recommend including it.
Ready to Make Your Next Move?
Whether you're buying your first home or selling to upgrade, our team is here every step of the way. No pressure — just honest, expert guidance.
Free consultation · No obligation · Local experts