First Time Buyers – You Won’t Buy Your Dream Home the First Try

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.

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