First-time buyers · London, Ontario

Buy your first home with clarity, not pressure.

I’m Caroline. I help first-time buyers understand the full cost of owning a home, weigh the risks honestly, and make a decision they’ll still feel good about years from now.

Send me an inquiry Calculate your true cost

Or email me directly at caroline@teamglasser.com

Caroline Paszkowski, real estate agent with Team Glasser

“Your first home should be one you can comfortably afford.”

— Caroline

Featured listing · Fairmont · London East

288 Fairhaven Circle

London, ON N5W 1E2

$569,900

MLS® X13766468

Bedrooms
3 + 1
Bathrooms
2
Style
Brick sidesplit
Lot
41 × 134 ft
Parking
6 + garage
Possession
Flexible

Set on one of the largest pie-shaped lots on a quiet cul-de-sac, this detached sidesplit gives a first home room to grow. A bright living room, separate dining area and functional kitchen anchor the main floor, with generous bedrooms upstairs.

  • Lower-level family room and fourth bedroom, with in-law suite potential
  • Finished basement with rec room, laundry, storage and utility space
  • Deep backyard with a deck and screened gazebo for summer evenings
  • Attached garage plus a long private driveway
  • Gas heat with heat pump, municipal water, asphalt shingle roof

Total cost of ownership

The price tag is only the beginning.

A good agent helps you add up the mortgage, property taxes, insurance, utilities, maintenance and closing costs together, so you know the true cost before you make an offer.

  1. 01

    Mortgage

    Principal and interest, plus default insurance if you put down less than 20%.

  2. 02

    Property taxes

    Paid to the City every year — this listing’s were $3,956 in 2025.

  3. 03

    Home insurance

    Required by your lender before closing day, priced by the home and its age.

  4. 04

    Utilities

    Gas, hydro, water and internet — often more than a renter expects.

  5. 05

    Maintenance

    Roofs, furnaces and water heaters wear out. Plan on roughly 1% of the price a year.

  6. 06

    Closing costs

    Land transfer tax, lawyer, inspection, title insurance and adjustments — paid in cash.

$
$
$
$
$

True monthly cost

$4,145/ month

Mortgage payment
$2,865
Property taxes
$330
Home insurance
$150
Utilities
$325
Maintenance reserve
$475

That’s 38% of your gross monthly income.

A lender may approve this, but it could feel tight. Let’s talk it through.

Cash needed to close

$66,485

Down payment
$56,990
Ontario land transfer tax
$3,873
PST on mortgage insurance
$1,272
Lawyer fees & disbursements
$2,000
Home inspection
$500
Title insurance
$350
Adjustments & moving
$1,500

With less than 20% down, a $15,900 mortgage default insurance premium is added to your loan ($528,810 total), and Ontario charges 8% PST on it in cash at closing.

Review these numbers with me

These are estimates for planning only. They use Canadian semi-annual compounding, Ontario land transfer tax brackets and typical closing fees. Your lender, lawyer and insurer will confirm your actual figures, and interest rates change daily.

My advice

“Don’t let anyone rush you into buying a property. Your first home should be something you can comfortably afford, not simply the most expensive property a bank is willing to finance.”

— Caroline Paszkowski

Choosing an agent

What the best agent for a first-time buyer does.

The right agent educates you, explains the risks, answers difficult questions and protects your interests throughout the transaction. That’s how I work with every client.

Start the conversation
  1. 01

    I educate you

    Before we look at a single home, I’ll walk you through the process from pre-approval to keys — what each step means, and what it costs.

  2. 02

    I explain the risks

    Rate renewals, inspection findings, conditional offers, bidding wars. You’ll hear the downside of every decision before you make it.

  3. 03

    I answer the hard questions

    “Can I really afford this?” “Is this price fair?” “Should I walk away?” Ask me anything. You’ll get a straight answer.

  4. 04

    I protect your interests

    From the offer to closing, my job is to look after you — negotiating firmly and making sure nothing gets missed.

First-time buyer questions

Straight answers

How much do I need for a down payment?

In Canada the minimum is 5% of the first $500,000 and 10% of the portion above that. At $569,900, that’s $31,990. With less than 20% down, your mortgage needs default insurance, which is added to your loan.

What are closing costs, and how much should I budget?

Closing costs are paid in cash on top of your down payment: Ontario land transfer tax, legal fees, title insurance, a home inspection and adjustments for prepaid taxes or utilities. Many first-time buyers budget 1.5%–4% of the price. The calculator above breaks it down line by line.

Are there programs for first-time buyers?

Yes. Ontario refunds up to $4,000 of land transfer tax for eligible first-time buyers. You may also be able to use a First Home Savings Account (FHSA) and the RRSP Home Buyers’ Plan. Eligibility rules apply, so confirm the details with your lender or financial advisor. I’m happy to explain how they fit together.

The bank pre-approved me for more. Should I use it?

Not necessarily. A pre-approval tells you the most a lender will finance, not what fits your life. Your first home should leave room for savings, emergencies and the things you enjoy. We’ll work out a number you can carry comfortably.

Ready when you are — and not a moment before.

Send me a note about where you are in your search. No pressure, no obligation. Just honest advice about your next step.

Send me an inquiry