Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

What should I do first as a first-time buyer in Saskatoon?

Get a mortgage pre-approval before anything else. A lender or mortgage broker will confirm what you actually qualify for based on income, debt and the minimum down payment rules, 5 percent on the first $500,000 and 10 percent above that, which sets a real budget before you start looking at listings.

After pre-approval, check what registered savings you can put toward the purchase. A First Home Savings Account and the Home Buyers' Plan, which allows an RRSP withdrawal of up to $60,000, both reduce how much fresh cash you need on top of savings, and the Canada Revenue Agency administers the rules for both.

Line up a lawyer early rather than at the last minute, since every Saskatoon purchase closes through a lawyer rather than a third-party closing company, and budget for legal fees of roughly $800 to $1,500 alongside a home inspection at $400 to $600 before you make an offer.

Only after those pieces are in place does neighbourhood shopping make sense, because a realistic budget changes which parts of Saskatoon are actually in reach. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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