First Time Home Buyer

First time buyer in Mississauga?


Let an experienced Realtor help you out.

Nothing can be more daunting than buying your home for the first time, especially in Mississauga where you are spoilt for choice. Here is where a local, experienced realtor can help. Amit Kalia has been a Realtor since 2013, helping new immigrants and home buyers settle down with their first home in Mississauga.


Amit helps you understand market conditions, different property options in Mississauga, assesses your financial situation, needs, wants and affordability and proceeds to guide you towards your dream home, step by step.
Amit will also inform you about the Top Mississauga Schools to help you choose where you want to live based on the best schools in Mississauga. Does that make you feel better?

Amit is amongst some of the well respected real estate agents in Mississauga who will help you identify the perfect home for your family or find you an ideal residential or commercial investment property. Whether a spacious house is better suited or a convenient condo, fancy townhouse or semi detached home, depending on the size and needs of your family. 

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Testimonials

"Hi Amit, I just had to write you about how thrilled we are with our home sale in Mississauga. You provided top-notch service throughout the entire process, and it was a pleasure working with you to obtain best value for our upgraded house. It was achieved in a short period of 5 days during which you communicated with us by telephone and visits to our house. You provided an excellent advice on the right asking price of our home in comparison to similar houses in our area. You provided guidance at every step, and you managed all the details including preparation of house for display very smoothly. You were a complete professional in your business practices, especially in obtaining multiple offers for our house and handled the bids professionally to give us the best combination of prices and conditions. In you we experienced the perfect blend of expertise, speed, thoroughness, intuition and great service. You worked with us to obtain the best possible deal. You exemplify professionalism and we would be glad to recommend you for anyone's real estate needs." Ram Iyer & Vajri


Backed by Canada’s top name in real estate, Re/Max, Amit's sincerity, high values and awarded sales experience have won him the patronage of several satisfied first time home buyers over the years. The first consultation with Amit is complimentary. In that one session, Amit helps you understand your home buying expenses, new builder vs. resale homes and condos, the best Mississauga neighbourhood for you, mortgage options, importance of home inspection, home insurance, home improvements, purchase and sale agreement plus some important clauses that protect your rights. After that you relax and he takes over. He will guide you to your first investment at the fastest time and the best rate within your budget. You will also receive new home listings of Mississauga homes and condos for sale in your inbox every morning, followed by a personal visit to select your dream home. 

Some frequently asked first time buyer questions:

• How much can you afford?
• As a buyer will you pay real estate commission?
• As a newcomer what's the minimum down payment?
• Before buying your property how do you locate the best schools?
• Are there any government incentives for first time buyers in Ontario?
• What is RRSP Home Buyer's Plan (HBP)?
• Is there any HST home buying rebate?
• Do first time buyers pay land transfer tax?
• What is first time buyer tax credit?
• As an investor do you qualify for first time buyer rebates?
• If you are a US resident relocating to Canada, will your US credit history help you with your home?

How much can you afford?  

Affordability depends on a number of factors. The most important are your gross household income, your down payment and the mortgage interest rate. Lenders will also consider your assets and liabilities. Your own lifestyle and debt comfort zone also come into play. To help you estimate the maximum mortgage you can afford, use housing affordability calculator.How do you figure out your home affordability qualification?  Call Amit and find out in minutes.

Does a buyer have to pay real estate commission?

In most cases buyers do not pay any real estate commission. The seller usually pays real estate commission to the buyer’s brokerage through his/her listing brokerage or sometimes directly to the buyer's brokerage. A buyer can be asked to pay real estate commission when the buyer's brokerage is not paid any commission by the listing brokerage or the seller.

 

As a newcomer what's the minimum down payment? 

Amit introduces you to the exclusive "Welcome to Canada" programme for permanent residents and newcomers who do not have a job or credit history. This programme allows you to purchase a home with 35% down payment. The down payment requirement may be reduced if you find permanent employment in Canada.

Before buying your home how can you find the best schools?

Amit shows you several ways to do this. You can visit local Mississauga Toronto school boards, EQAO (Education Quality and Accountability Office) to check out school report cards published by the Fraser Institute and Ontario Ministry of Education.

Finding the right combination of good schools and neighbourhoods to match your budget is not always an easy task. That's where the experience of a local REALTOR® like Amit is mandatory.

Are there any government incentives for first time buyers in Ontario?

There are several incentives and schemes. Below are some first time home buyer incentives/ rebates:

What is RRSP Home Buyers Plan (HBP)?

Home Buyers Plan is a program that allows first time home buyer to borrow up to $25,000 from their "Self-directed Registered Retirement Savings Plan (SDRSP)". You must be a Canadian resident who has not used this plan before. The loan is not taxable as long as the funds are repaid into the RRSP (registered retirement savings plan) over a 15 year period. The money cannot be withdrawn until 90 days after the RRSP contribution. After 90 days one can use the Home Buyers' plan to withdraw $25,000 without penalty. This way you will receive a tax rebate.

Is there any HST home buying rebate?

Resale homes are exempted from HST in Ontario. HST is payable on new builder homes and condos. Please visit Revenue Canada website for more details.

Do first time buyers pay land transfer tax?

If you are a first time home buyer, you qualify for rebate of up to $2,000. Certain conditions and restrictions apply for which you need to read up on the Land Transfer Tax.

What is first time buyer tax credit?

To assist first-time home buyers with the costs associated with the purchase of a home, Budget 2009 introduced a First-Time Home Buyers Tax Credit a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief starting in 2009.

As an investor do I qualify for first time buyer rebates?

No. Real estate investment property does not qualify for first time buyer rebates. If you are a non-resident investor buyer you will treated equally as any other citizen or permanent resident of Canada.

I am US resident relocating to Canada, will my US credit history help when shopping for home?

No. Real estate investment property does not qualify for first time buyer rebates. If you are a non-resident investor buyer you will treated equally as any other citizen or permanent resident of Canada.

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