Resources for first-time home buyers

As a real estate newbie, I've been doing a lot of reading, and, of course, watching HGTV's Property Virgins, to try to learn as much as I can about the process of buying a home. I don't want to be like some of those Virgins who aren't prepared with downpayment funds and aren't aware of the costs of homes or closing costs. So, in honour of my home hunt, I thought I'd share some of the things I've found valuable!

For starters, the Canadian Mortgage and Housing Corporation has a lot of great resources for home buyers (as well as sellers and renovators, but that's less helpful for me!). From step by step home buying guides to a mortgage calculator and other useful goodies, it's definitely a good place to start.

And, of course, Yourhome.ca has been a big help. Not only do I read it every day as part of my job, but it also keeps me up to date on the latest happenings in the market and gives me lots of reno and decor inspiration for my future home, from how to modernize a small city home to loftier ideas from Colin and Justin. Website promoting aside, anyone thinking about buying or selling really should be keeping up with their local media to stay on top of market conditions, which will help inform your decisions and expectations.

My realtor, @RealEstateSimon, is another great resource for answering my questions, especially those related to certain homes and neighbourhoods. Going to see properties with him has given me some hands on education, which all that reading (and TV watching) just hadn't taught me.

I've also just finished reading Realty Check, by Property Virgins host Sandra Rinomato. With useful checklists, real life examples and some no-nonsense advice to keep newbies from getting in over their heads, I'd recommend this as a very basic primer to those getting ready to venture into home ownership. Toronto and area-based examples are also a nice perk for those of us starting our home hunt in the city.

Where do you go for real estate advice? What resources would you recommend for first time buyers?

Comments

[Dave Chomitz CRS, broker]

I'm not complete yet but I'm creating an online resource for buyers which will include:

The steps of working with a real estate agent (up to step 4 now) http://www.chomztv.com/BI/BI.html

The site will also include a mortgage broker, home inspector and others involved with the process. http://www.chomztv.com/experts/expert.html

Launched in January, the goal is to provide an archive of answers in an orderly way to help home buyers learn about and become more familiar with the process so they can be more comfortable as they move forward.

Cheers ... Dave Chomitz CRS, broker

[Robert Holbrook]

I enjoy working with first time buyers as a real estate agent. There is an element of excitement and emotion with assisting the first time buyer that does not exist on the same level as working with people who are purchasing a second home. I also love writing articles that help protect first time buyers from overspending or being "fooled". It is even more fun now that buyers actually have time to think about their purchase. I really felt sorry for clients a year ago when they basically had to make "on the spot" choices.

Robert Holbrook, MSW

[Cherry Emery]

First time property buyers should do a complete research of the property and the broker which he is going to purchase . Thanks a lot blogger for useful blogging .

http://betterblog.ning.com/profiles/blogs/essential-tips-for-first-time

[David hogard]

It is even more fun now that buyers actually have time to think about their purchase.

http://betterblog.ning.com/profiles/blogs/making-the-home-buying-process