How we help
First-Time Buyers in Markham
A real budget, a realistic neighbourhood list and no surprises at closing.
The problem
First-time buyers are usually working from a number their lender gave them, which is not the same as what they can comfortably afford and from a neighbourhood list they built from friends and social media rather than from what their budget actually reaches in Markham.
Our approach
How we handle it
- Step 01
Build the real budget
Pre-approval is a ceiling, not a recommendation. We work back from the monthly payment you are comfortable with, then add taxes, insurance, maintenance fees and the first year of things that break.
- Step 02
Match the budget to neighbourhoods honestly
We will tell you which parts of Markham your number reaches and which it does not. If detached is out of range we will say so, rather than showing you houses for six weekends until you work it out yourself.
- Step 03
Understand how offers work here before you need to
Conditions, deposits, offer dates and what a multiple offer situation actually looks like. We walk you through it in advance so the first time you meet it is not the day you are trying to buy a house.
- Step 04
Inspect properly and buy with your eyes open
An inspection is not a formality. On older Markham stock it regularly changes the number and occasionally it should change your mind. We would rather you walked away from the wrong house than stretched into it.
What we do differently
We work from the payment, not the pre-approval. Lenders tell you the maximum they will lend. That is a useful fact and a terrible plan. We start from what you can pay every month without resenting it.
We name the trade-off out loud. In Markham, a first purchase is usually a choice between space, location and property type. You get two. Deciding which two, deliberately and early, is most of the work.
We do not rush you into an offer. If a property is wrong, it is wrong. There will be another. The pressure to act immediately is the single most expensive force acting on a first-time buyer and part of our job is to absorb it rather than pass it on.
Where first-time buyers usually land in Markham
Milliken Mills for the lowest entry point and the best transit. Greensborough and Cornell for newer attached housing. Downtown Markham for condo living with everything walkable. Box Grove if the commute runs east or west on Highway 407.
First-Time Buyers questions
What can a first-time buyer actually afford in Markham?
That depends entirely on your down payment, income and debts. What we can tell you is which property types your budget reaches. Condos and townhomes in Milliken Mills, Greensborough, Cornell and Downtown Markham are the usual starting points.
Can I buy a detached house as a first-time buyer here?
In some parts of the city, yes, most often in Milliken Mills. It is not realistic across most of north Markham on a typical first-time budget and you should know that before you spend months looking.
What programmes are available for first-time buyers?
There are federal and provincial measures including land transfer tax rebates and registered plan withdrawals. Rules change, so confirm the current details with your lender, your lawyer and the Canada Revenue Agency rather than relying on any website, this one included.
How much should I keep aside after closing?
More than most people do. Closing costs, immediate repairs and furnishing add up quickly and being house poor in year one is a miserable way to start.
Should I buy a condo or a townhome?
A condo usually costs less to enter and carries a monthly fee. A freehold townhome usually costs more up front and leaves the maintenance to you. Neither is better. It depends on your cash flow and how much you want to manage.
Not advice. This page is general information about how we work. It is not legal, tax, mortgage or investment advice. Speak to a qualified professional about your own circumstances before acting.
Also relevant
Other situations we handle
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Luxury
Thin comparables, a small buyer pool and no room for a pricing mistake.
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Relocation
Choosing a neighbourhood you have never lived in, usually on a deadline.
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Downsizing
Forty years of a house and a sequence that has to work in the right order.
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Upsizing
Two transactions, one timeline and a gap that has to be financed.
Book a 30-minute conversation
No pitch and no pressure. Tell us the situation and we will tell you plainly whether we are the right people for it.