First-Time Homebuyer in Calgary? A Step-by-Step Mortgage Guide by Amneet Kaur
First-Time Homebuyer in Calgary? A Step-by-Step Mortgage Guide by Amneet Kaur
Blog Article
So—you’ve finally decided to start your homebuying journey in Calgary. Maybe it’s your Pinterest board full of cozy kitchens, or your rent just went up again. Either way, something inside you is saying: “It’s time.”
As exciting as this step is, it’s completely normal to feel overwhelmed too. Fixed vs. variable rates, CMHC insurance, bidding wars... where do you even begin?
Hi, I’m Amneet Kaur, a local Calgary realtor—and I’ve helped plenty of first-time buyers just like you go from stressed out to key in hand. My goal? To simplify this whole process so it doesn’t feel like learning a new language... and maybe even make it a little fun.
Let’s walk through this, step by step.
???? Let’s connect on Realtor.ca
Step 1: Get Pre-Approved (Yes, Before You Tour Homes)
Think of mortgage pre-approval like setting your GPS before a road trip. It tells you what’s realistic for your budget and keeps you from falling for homes that are out of reach.
It’s not scary, I promise. You’ll:
- Share your income and credit info
- Get an idea of your interest rate
- Know how much house you can afford (and how much monthly payments might be)
And if you’re not quite there yet? That’s okay! I can point you to trusted mortgage advisors who’ll help you get on track without judgment.
Step 2: Understanding Down Payments (It’s Not as Bad as You Think)
Here’s a quick breakdown of what’s required in copyright:
- 5% down for homes under $500,000
- 10% for anything between $500K–$999K
- 20% for $1M+
Buying a $430,000 place in Calgary’s Beltline? You’d need a $21,500 down payment minimum.
What many first-time buyers don’t realize: you can borrow from your RRSP through the Home Buyers’ Plan—up to $35,000, tax-free. And yes, you can use your partner’s too if you’re buying together!
Step 3: Make a Real-Life Wishlist (Not Just a Dream One)
Let’s face it—we all want the walk-in closet, the big windows, and the chef’s kitchen. But when buying your first home, it helps to zoom in on the non-negotiables.
Ask yourself:
- Do I need easy access to transit?
- Am I okay with a bit of reno work?
- Is being close to work or family a priority?
As your agent, I’ll help you balance dream features with practical needs—and find neighborhoods that give you both.
Step 4: House Hunting (It’s Not Always Like HGTV, But Still Pretty Fun)
This part is where things get real. We’ll explore options, book showings, and I’ll share honest insights that go beyond what you see online.
Sometimes the perfect place is the third one you visit. Sometimes it’s the ninth. My job? To keep you excited, grounded, and totally supported through it all.
And no, I don’t pressure people into decisions. Ever.
Step 5: Making an Offer (This is Where I’ve Got You Covered)
Once you find “the one,” I’ll walk you through crafting the right offer. We’ll:
- Look at market value and similar sales
- Add smart conditions (home inspection, financing, etc.)
- Handle back-and-forth negotiations with confidence
Don’t worry—I explain every step in plain language, not real estate jargon.
Step 6: Closing Day (AKA the Best Feeling Ever)
Once your offer is accepted and conditions are cleared, your lawyer handles the paperwork, your lender sends the money, and you get the keys.
Seriously—watching first-time buyers step into their new home never gets old for me.
Final Thoughts from Me, Amneet
Buying your first home isn’t just a transaction—it’s a big life moment. And you deserve to feel informed, confident, and cared for throughout.
Whether you’re just starting to think about buying or you’re ready to dive in, I’d be honored to be your guide, cheerleader, and go-to resource.
Let’s talk when you’re ready:
Connect with me here
Because this journey should feel exciting—not confusing.
And your first home? It should feel like home the moment you walk in. Report this page