First-Time Homebuyers

There are few things as exciting — or as confusing — as buying your first home.

As a first-time homebuyer, you are probably dealing with many unfamiliar tasks and concepts. Even second- and third-time buyers are often confused by the details of a home purchase, the documents they are asked to look at and the financial and administrative tasks they are asked to perform.

It's easy to feel pressured to sign whatever you are given to sign, even if you don't fully understand it. Our goal is to make sure that you feel good about your purchase, that you are fully informed and that you are confident that you can handle the responsibilities you have entered into.

Helping Your First Purchase Go Smoothly

At the office of Lawrence Lychowyd, we offer you all of the services offered to regular homebuyers and devote extra time to make sure all of your questions are answered and you know about the first-time homebuyer assistance available from various levels of government.

Our Toronto lawyer will:

  • Explain the process to you from beginning to end
  • Inform you of your rights and responsibilities as a homeowner and mortgage owner
  • Explain the First-Time Home Buyers' Tax Credit, which provides a $5,000 credit to help cover down payment, legal fees, land transfer taxes and other costs of buying a home
  • Help you access the expanded Home Buyers' Plan for first-time homebuyers, which gives you greater access to your Registered Retirement Savings Plan savings
  • Explain other first-time homebuyer programs such as land-transfer tax refunds, HST new housing rebates and Ontario Home Ownership Savings Plans
  • Represent you during purchase negotiations
  • Review your contract and point out any potential problems or extra costs
  • Review your title, mortgage and tax documents
  • Help explain your condo plans if applicable
  • Register all legal documents and ensure that you possess valid ownership
  • Explain land surveys and title insurance
  • Explain closing costs and any other extras you may have to pay on top of the purchase price
  • Handle closing

At our office, we've heard just about any question you may need to ask, and we're familiar with the confusion faced by most first-time homebuyers. We know how to explain concepts and processes effectively, in a way that makes sense.

Contact Lawrence Lychowyd

First-time homebuying can be confusing. Contact us at 647-495-7697 to set up a free consultation. Let us answer your questions.