Thinking about buying your first home? Before you start scrolling through listings or booking showings, there are a few key steps that will save you time, stress, and (potentially) money.Here are the five most important things I recommend doing first — so that when the perfect home pops up, you’re ready to act with confidence.
1️⃣ Check Your Finances & Credit
Take a close look at your income, savings, debts, and credit score.- A healthier credit score can unlock better mortgage rates.
- Pay down high-interest debts if you can — it improves affordability.
- Decide what monthly payment you’re truly comfortable with (not just what the bank will lend).
2️⃣ Get Pre-Approved for a Mortgage
This step gets skipped way too often.- You’ll know exactly how much you can borrow and what payments look like.
- It keeps you focused on homes you can actually afford.
- Sellers take your offer more seriously when you’re pre-approved.
3️⃣ Build Your Budget Beyond the Purchase Price
Buying a home means more than the down payment.- Closing costs (legal fees, PTT, inspections) can add up to 2–4% of the price.
- Monthly costs: property taxes, strata fees (if applicable), utilities, maintenance.
- Plan for these early so there are no surprises after you move in.
4️⃣ Define Your Must-Haves, Nice-to-Haves — and Stay Realistic
It’s easier to search when you know what matters most.- Make a short list of non-negotiables (bedrooms, location, parking, pet-friendly, etc.).
- Add a list of nice-to-haves you’d love but can live without.
- Stay realistic about pricing: even in a buyer’s market, most sellers will not accept steep discounts on a new listing. Well-supported, market-aligned offers are the ones that get accepted.
5️⃣ Choose Your Realtor Early
Working with a Realtor from the start saves time and headaches.- I’ll connect you with trusted mortgage pros, inspectors, and lawyers.
- I’ll watch the market, flag great listings, and advise on neighbourhood trends.
- Most importantly, I’ll help you avoid common first-time buyer mistakes.
Bottom Line
Get these five steps done before house-hunting and you’ll shop with confidence, move quickly on the right home, and avoid wasting time on offers that were never going to fly.📩 Thinking about buying? Email me at katie@katie-chao.com— or call/text 778-834-3085. I’ll set you up with a step-by-step plan so you’re ready when your dream home hits the market.
