First Time Home Buyer Programs and Resources from Coventry
While building a new home is exciting, the process is also complex. Early access to first time home buyer programs, resources and advice can help pave the path for a positive experience. At Coventry Homes, we are more than home builders. We strive to meet our customer’s needs and expectations well before we ever break ground!
Valuable Tips from a First Home Builder
We are delighted to work with a wide range of clients, from first time home buyers to seasoned homeowners who know exactly what they want in their next upgrade. As a first home builder, we offer a few tips:
- Did you know that you may be eligible to withdraw up to $25,000 tax free from your RRSP to build a new home? Learn more about the Government of Canada’s Home Buyers’ Plan
- Refer to our Calculate House Payment page for useful worksheets that can help first time home buyers determine what you can afford for a down payment, monthly payments and price range
- Read about the government’s First Time Home Buyer’s Tax Credit to see if you qualify
- Consider getting pre-qualified for your mortgage (this will give you immense peace of mind and allow you to enjoy the new home shopping experience)
- A 20% down payment on your new home can save you thousands of dollars over the long term (an insurance premium is required if your down payment is less than 20%)
- Making bi-weekly payments instead of monthly payments (that’s just 2 extra payments per year) can have a significant impact on your mortgage; ask your lender for more details
- Find even more valuable resources here.
At Coventry Homes, our first time home buyers program consists of the following steps: purchasing your home, arranging for your mortgage, new home selections, construction, orientation, closing on your home, move-in, follow up. We support this entire process with a comprehensive homeowner guide that assists you through every step.
Stop by one of our showhomes soon for more information and to experience the Coventry difference.