Tips for First-Time Home Buyers in Canada

Canada's real estate market presents challenges for first-time home buyers due to limited supply, strict mortgage guidelines, and high prices. Government programs like the Home Buyers’ Plan, Home Buyers’ Tax Credit, and First Home Savings Account offer assistance. Buyers should evaluate their budget, understand local market conditions, and prepare for potential bidding wars. Mortgage pre-approval is crucial, and buyers should consider ongoing expenses beyond the mortgage.