First Time Home Buyers

First Time Home Buying is considered being a stressful and difficult decision. However, Pratham believes this is just a myth as more and more people are becoming home owners rather than renters.

Pratham Kalia has helped numerous first time home buyers move into their dream home in Mississauga and the surrounding areas throughout his career from; new comers, families, individuals, couples and millennials.

Are you a First Time Home Buyer looking to buy in Mississauga? 

Being a first time home owner can be a new chapter of your life, so we want to be a helping hand relating to this big next step. We would like to educate and guide first time home buyers in making an informed decision. That is why Pratham Kalia offers a FREE First Time Buyer Seminar. 
Call 647-606-2704 to learn more about this one-on-one exclusive seminar

We recently dealt with Pratham Kalia to lease out one of our properties. Having read many good reviews of Pratham online, we decided to work with him. He had a lot of knowledge on the market and was able to answer any questions that we had. He was very clear and straightforward when giving us a recommendation on price, possession date and what to expect. Pratham had our best interests throughout the transaction and was always available to communicate, via phone or email. In just a few days, Pratham was able to draw in multiple offers for our property. We were very impressed by his commitment, knowledge and honesty! Alyssa E.
Below are some Frequently Asked Questions (FAQ) that will be covered: 
  Do Buyers have to pay any real estate commission? 
Typically, buyers do not pay real estate commission. This example can be based on a standard scenario where both the buyer and seller are being represented with each of their own real estate agent. The real estate commission is usually paid by the seller to the buyer's brokerage either directly or through the listing brokerage. However, a buyer can be asked to pay commission to the buyer's brokerage if the buyer brokerage is not paid any commission from the listing brokerage. 

As a Newcomer, what is the Minimum Down Payment?
The minimum down payment is 5%, but it is heavily dependent on job, credit history and your situation. We recommend that you always consult a professional mortgage or financial advisor before making personal financial decisions. Contact Pratham Kalia to learn more about our Newcomer Program and check the Mortgage Information page on this website to learn more.
Why is a Mortgage Pre-Approval Important before searching for a home? 
This is an important first step when starting a home search, as it gives a clear indication on estimated affordability. By indicating the higher limit and how much can be borrowed, the mortgage pre-approval will give confidence to the home buyer and Real Estate Professional on specific properties that are within the range of the mortgage pre-approval, which can simplify the home search. 

What are Mortgage Payments? 
This will depend on specific circumstances. We suggest speaking with a mortgage professional to better understand the down payment, mortgage rates and mortgage terms. Pratham Kalia has a list of professional mortgage agents and brokers, that he has worked with. If  you would like to speak with someone you already know and feel comfortable with, feel free to contact them. Check out Mortgage Information to meet one of the mortgage professionals that has helped many of Pratham's clients. The Mortgage Payment Calculator may also be of help.

Is there a First Time Buyer Land Transfer Tax Rebate? 
Yes, if you qualify as a first time home buyer there is a land transfer tax rebate of $4000. Certain terms, conditions and restrictions may apply, please speak to a professional real estate lawyer and visit the official Government of Ontario website to get more information. Under the helpful tools tab, there is a Land Transfer Tax Calculator to help get an estimate on land transfer tax, based on the province, city and property value. 
What are some Government Rebates for Home Buyers and Home Owners? 
Here is a list of a few government rebates for home buyers and home owners, which include: Home Buyers Tax Credit (HBTC), Land Transfer Tax Rebate, Home Buyers Plan (HBP), Ontario Energy and Tax Credit, GST/HST New Residential Rental Property Rebate. Learn more Government Rebates for Home Buyers and Home Owners.

What is an advantage of working with a Buyer Agent? 
In our opinion, there are many benefits of working with a buyer agent. If you Hire Pratham Kalia as a Realtor®, you are ensured to have your best interests taken care of. Searching for the right home, preparing an offer, negotiations and having a smooth and easy closing. Being a local, experienced and professional Realtor® certainly has benefits.  

What is the average cost for a Home Inspection? 
The average cost for a Home Inspection can cost approximately $300-$350. This cost can vary based on the location, property condition and size of the house. A condo home inspection can cost approximately $225-$275, again based on the location, property condition and size of the condo. 

Where can Top Mississauga Schools be found?
A list of top elementary and secondary schools can be found on the Fraser Institute website. If you are planning to buy in Mississauga, contacting the Peel District School Board is also recommended to get more information of a school. Pratham Kalia finished all of his Schooling in Mississauga (elementary, middle, secondary and post secondary). Please contact us if you need help finding the right neighbourhood and school district. 

How to find Homes near Top Mississauga Schools? 
You can find out Top Mississauga Schools by rating on the Fraser Institute website. Then by selecting a few schools and asking your real estate professional to help find you a home near the specific schools. To ensure that the home address falls in the school boundary, you can visit Peel School District. On this website, public schools can be found near the specified address of where you are looking to buy a home. If Catholic Schools are of preference, then please visit Dufferin Peel Catholic School District website. 

RE/MAX - Fit to Buy? 

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