23. January 2008 by Kari Calder.

I work a lot with first time home buyers in Saskatoon and the hardest thing for buyer to realize is that they have to step on ‘stepping stones’ to get to their perfect house. When you are getting into the Saskatoon real estate market a buyer must consider several things; this is your first home, this is not going to be your dream home, this is a way to start in the market therefore you should buy something that is appealing enough (especially in things that cannot be changed such as LOCATION) and that you need to start somewhere.

You can change the colour of the walls and you can change kitchens, bathroom, flooring, light fixtures, etc. You cannot change the location of where you live. If you have $200,000 to spend and you can choose between a nice condo in a safe neighbourhood in Saskatoon or a house in a less desirable area in Saskatoon, your situation will determine which one you will choose.

First time home buyers in Saskatoon have to start somewhere. Due to our market increases in 2007 it is much harder to get started, but there are options. Whether you start in a ‘fixer upper’ or you start in a condo, you best start out sooner than later. Unfortunately, there are many people looking for a fixer upper in the city of Saskatoon right now so this market is a bit lacking.

One of the mistakes first time home buyers in Saskatoon make is ‘saving for a down payment’. I have seen too many people wait themselves out of homes because of the misconception that they should save. If you have resources, line of credit, friends, family, anyone willing to give you some money or really good credit so that you can apply for the “zero down” option, get into the market in Saskatoon as soon as you can.

Another mistake people make when attempting to buy a home in Saskatoon is not wanting to settle. You are always going to have to settle on some things until you are in a financial situation where you can build a home in Saskatoon…even at which time it takes at least 3 tries to get it right!

So, recognize the limitations of buying your first home in Saskatoon but don’t let it get you down. Look at all options when purchasing a home in Saskatoon and weigh the pros and cons. Get on that first stepping stone and buy a home in Saskatoon soon! Don’t forget that there are also several small towns around Saskatoon such as Warman, Martensville, Osler, Rosthern, Asquith, etc where you can generally purchase homes for a bit less than the city.

For more real estate questions or to contact a realtor in Saskatoon, call or email me today.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.
www.karicalder.com

Posted in Saskatchewan Real Estate, Buyers, Saskatoon Real Estate | 1 Comment »

23. January 2008 by Kari Calder.

If you are just starting out in the real estate market in Saskatoon, buying a condo in Saskatoon might be the best start. Buying a house in Saskatoon as a First Time Home Buyer is a lot more challenging than it was a year ago. When you are looking at buying a house now and it is your first time and you cannot spend more than $250,000 and you want to be in a safe area, most buyers are finding that they have no choice but to purchase a condo instead of a house. There is nothing wrong with starting out in a condo in Saskatoon as this is a great way to get into the market.  As many of you know the Saskatoon Real Estate market has seen huge growth and buyers must take that into consideration when looking to get into the market.

Condos in Saskatoon have many positives such as not having to worry about exterior maintenance, some units include water, heat, etc. But you have to do your due diligence and make calls to the appropriate parties (Sask Power/City of Saskatoon/Sask Energy, etc) to confirm what is and is not covered under your monthly condo fees.

Condo living is easy in general and with the growing number of people living in Saskatoon but working out of town for days and weeks at a time, buying a condo in Saskatoon would seem like the best thing to do.

Young condo owners are also growing in leaps and bounds due to the affordability and many people don’t want to worry about a yard, shoveling snow in the winter, exterior maintenance, etc. With our hard working society and many people juggling jobs, school, kids, etc it is nice to live in a condo as it is easier and saves you time.

Older people are also buying condos in Saskatoon as they recognize their limitations in home ownership once they get to a certain age. Instead of fighting it, many people are getting out of their houses and into condos at an earlier age so that they can enjoy life a bit more.

It seems that many people are now buying condos in Saskatoon as both investments and as residences. Unfortunately, many first time buyers want it all but are realizing that they may have to settle for something smaller, just to get their foot in the home owners market of Saskatoon. I am a big advocate of purchasing condos in Saskatoon as that was my first purchase. It got me started in the market and I have since been able to move up to buying a house in Saskatoon.

If an investor is buying in Saskatoon and his or her purpose is to utilize the condo as a rental unit, they are generally helping our community out as our vacancy rate is so low. So, if you are sitting on the fence about whether to buy a house in Saskatoon or buy a condo in Saskatoon, ask yourself what your lifestyle suits best as well as what your bank account can afford.

Contact me for more information on buying a condo in Saskatoon.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.
www.karicalder.com

Posted in Saskatchewan Real Estate, Buyers, Current Market, Saskatoon Real Estate | No Comments »