BUYING WITH A BROKER: EXPERT GUIDANCE AT EVERY STEP

As a Buyer, why should you work with the LYNN CAVANAGH REAL ESTATE GROUP?

Buying a home is a major financial and lifestyle decision. Who you choose to guide you through the process matters.

Our role is to simplify the experience, protect your interests, and help you make confident, well‑informed decisions—whether this is your first purchase or you’ve bought and sold before. Every buyer’s situation is different, and your strategy should reflect that.

We believe in clear advice, strong negotiation, and thoughtful planning at every step. We value long‑term relationships and aim to be your trusted real estate advisors not just for this purchase, but for many years to come.

We will guide you through every step of the buying process.

We will save you time. Before starting your search, we will take the time to understand your needs, priorities, and budget. With clearly defined search criteria, your search will be more targeted, saving you precious time and effort.

We will save you money. We have access to exclusive data and tools not available to the public, which enable us to provide you with accurate and up-to-date information for each property. We will negotiate on your behalf, use the best strategies to secure the best possible price and terms.

We will assist you in making informed decisions based on facts rather than emotions. It is easy to fall in love with a house. The reality is that every property has its pros and cons. As your advisors, we will remain objective and provide you with sound advice. Our structured approach will help you avoid impulsive decisions and gain the perspective you need to carefully consider whether the property meets your current needs, as well as your future plans.

Put our experience, market knowledge, and Royal LePage resources to work for you. 

A FEW TIPS FOR BUYERS

• Choose a realtor you are comfortable with, someone who is honest, trustworthy and understands your needs and wants.

• Before you begin your search, decide on your needs and wants and seek your realtor’s advice.

• Get pre-approved for a mortgage so that you know how much you can afford. Your mortgage representative will let you know what documents you will need, such as your T4s, letter of employment, proof of downpayment.

• Stick to your budget! You still want to be able to go out to dinner and a movie sometime.

• Location! Location! Location! Do you want to be close to work, schools, public transportation? Determine your priorities and decide what area(s) you want to live in.

• When visiting properties, don’t be overwhelmed by the seller’s décor or furniture. Try to picture your own furniture there. Be sure to look at the features of a home, even if it needs some TLC, such as a coat of paint. It may still suit your needs.

• Make sure you know how much the home is worth. Your realtor will provide you with clear advice and strategies to avoid paying too much.

• Choose a lawyer (usually a referral from family, friends, or you realtor), so they are ready to guide you when you are ready to make your purchase.

FIRST-TIME BUYERS – FINANCING CONSIDERATIONS

RRSP LOAN

You can borrow up to $60,000 each from your RRSP to put toward your downpayment. The funds can also be used to cover home renovations/updates, moving expenses, or closing costs. This is a winning strategy, especially if it can help to increase the size of your downpayment to 20% of the purchase price, thus eliminating the need for expensive high-ratio default insurance (typically provided by CMHC or Sage).

OTHER INCENTIVES

Introduced in 2009, the First-Time Buyer Tax Credit gives you a credit of $1,500.

The province of Ontario offers rebates to first-home buyers for land transfer taxes, which can really add up.

Under proposed legislation for the GST/HST Rebate for First-Time Buyers, when you buy a new home, like a condo, townhome, or garden home, in Ontario, the federal portion of the HST (5% GST) may be rebated. This means that while the purchase price stays the same (for example, $500,000), the 5% GST is credited back at closing, so you will only pay the provincial portion (8%) of HST upfront. You will not need to apply for this rebate on your tax return.

Incentives and government programs are subject to change. Be sure to speak with your mortgage advisor to ensure you take advantage of all credits and rebate options available to you.

Let’s find your next home!

“Handled with care. Executed with precision.”