Navigating Your First Home Purchase | Avalon Master Builder

Navigating Your First Home Purchase

Guidance every step of the way

Published on: May 10, 2024

Are you considering taking the leap into homeownership? As a first-time buyer, the process can seem daunting, but with the right guidance and preparation, it can also be an exciting and rewarding journey. At Avalon, we understand first-time buyers’ unique needs, so we’ve designed our ZEN townhomes to offer modern, affordable, and convenient living solutions. Here’s what you should be doing now and what to expect when buying a new ZEN townhome in any of our communities.

  1. Assess Your Finances
    Before embarking on the homebuying process, it’s essential to examine your finances closely. Start by reviewing your credit score and addressing any issues that may affect your ability to secure a mortgage. Then, consider your income, existing debt, and monthly expenses to determine how much you can comfortably afford to spend on a home.
  2. Save for a Down Payment
    Saving for a down payment is one of the biggest hurdles for first-time buyers. Aim to save at least 5% of the home’s purchase price. If you’ve been contributing to an RRSP, you can put it to work by taking advantage of the Home Buyers’ Plan. Subject to certain conditions, you can withdraw up to $25,000 (up to $50,000 for a couple). This amount is expected to increase at some point in 2024.
  3. Pre-Approval
    Once you’ve saved for a down payment, it’s time to get pre-approved for a mortgage. This involves submitting financial documents to a lender or mortgage broker, who will determine how much they’re willing to lend you based on your financial situation, downpayment, and credit score. It is encouraged to have a pre-approval letter in hand when you make an offer to purchase a ZEN townhome.
  4. Research Neighbourhoods and Communities
    Location is key when buying a home. Research different neighbourhoods and communities to find the one that best suits your lifestyle and needs. Consider factors such as proximity to work, schools, amenities, and public transportation. Avalons’ ZEN townhomes are in vibrant communities with easy access to shopping, dining, healthcare, parks, and more.
  5. Understand the Homebuying Process
    Familiarize yourself with the homebuying process to ensure a smooth and successful experience. From making an offer and closing the deal, there are steps involved in buying a home. Click here to see our Step-by-Step Guide to Building Your ZEN Net Zero Townhome.

What to Expect When Buying a ZEN Townhome in any of our Communities

  • Modern Design and Features
    Our ZEN townhomes are thoughtfully designed with modern finishes and features to enhance your everyday living experience. From open-concept layouts and spacious kitchens to energy-efficient appliances and Net Zero or Net Zero Ready technology, our homes are designed for your comfort and convenience.
  • Affordable Pricing
    We understand that affordability is a top priority for first-time buyers. That’s why we offer competitive pricing on our ZEN townhomes, making homeownership attainable for individuals and families.
  • Low Maintenance Living
    Say goodbye to weekend yard work and exterior maintenance. Our ZEN townhomes offer low-maintenance living, allowing you to enjoy life more and less time with outdoor and exterior chores.
  • Community Amenities
    When you buy a ZEN townhome, you’re not just buying a home – you’re buying into a vibrant community. Our communities feature many amenities, including lakes, parks, playgrounds, walking paths, and more, where you can connect with neighbours and enjoy an active lifestyle.

Take the first step towards homeownership and discover the perfect ZEN townhome in one of our communities today!

ZEN Livingston  |  ZEN Mahogany  |  ZEN Greystone in Cochrane