Why Work With an Agent Who Specializes in Assisting First-Time Home Buyers?
Buying your first home is an exciting milestone, but it can also feel overwhelming without the right guidance. A real estate agent who specializes in working with first-time home buyers understands the full buying process, from mortgage planning and financing to finding the right home and negotiating with confidence. With clear advice and experienced support, you can make informed decisions and begin your homeownership journey with confidence and peace of mind.
At Kirby Chan & Co. Real Estate Team , our commitment to first-time buyers is rooted in personal experience. When Kirby and his wife, Carrie, were purchasing their first home over 20 years ago, they navigated the process with little guidance, uncertainty around financing and many unanswered questions. That experience shaped how Kirby supports first-time buyers today, ensuring they feel informed, prepared and confident at every stage.
Whether you’re purchasing your first home, planning ahead or building a foundation for the future, Kirby Chan & Co. Real Estate Team delivers deep market knowledge, personalized service and consistent support at every step of the buying journey.
Markham First-Time Home Buyer Guide — Clear Steps, Zero Guesswork
Buying your first home in Markham is one of the most significant financial decisions you will ever make — and one of the most competitive markets in the GTA to do it in. Top-ranked schools, a booming tech and business sector, and direct GO access to downtown Toronto keep demand strong. That same demand makes the process feel overwhelming for first-time buyers. Kirby Chan & Co. breaks it down into clear, manageable steps so you can move confidently from pre-approval to keys in hand.
Local Expertise Across Every Pocket of Markham
Kirby Chan & Co. Real Estate Team agents are mentored by top producers and Icon agents who have guided hundreds of first-time buyers into homes across Markham. Whether it’s a condo along Highway 7 in Downtown Markham, a townhouse in Cornell or Wismer, or a semi-detached in Milliken, our team knows how each neighbourhood prices, competes and closes. That insight helps you write offers that win without overpaying.
What First-Time Home Buyers in Markham Ask Us Most
Can I compete in Berczy or Greensborough on my budget? What do closing costs actually add up to in Ontario? What happens between firm offer and closing day? What government programs am I entitled to? Our team gives you real numbers, real timelines and straight answers — not guesses made under pressure. First-time buyers who know their numbers before their first showing are the ones who close.
A Full Team Behind Your First Purchase
Buying a home takes more than an agent. Kirby Chan & Co. connects you with trusted mortgage lenders, home inspectors and real estate lawyers who work in Markham, Richmond Hill and across York Region every week. Backed by eXp Realty’s global network, you get big-brokerage resources with a local team that answers when you call.
Government Programs Every Markham First-Time Buyer Should Stack
Ontario and Canada offer several programs that can put $20,000 to over $80,000 back in a first-time buyer’s pocket. Most buyers leave at least one of these on the table by not knowing they exist. Here is what you are entitled to as a first-time home buyer in Markham.
First Home Savings Account (FHSA)
Up to $40,000
Contribute up to $8,000 per year, tax-deductible. Withdrawals for a first home purchase are completely tax-free. Open one as early as possible — unused room carries forward.
RRSP Home Buyers’ Plan (HBP)
Up to $120,000 per couple
Each buyer can withdraw up to $60,000 from their RRSP tax-free. A couple purchasing together can combine both accounts. Repayment begins two years after purchase, spread over 15 years.
Ontario Land Transfer Tax Rebate
Up to $4,000 back
First-time buyers in Ontario receive a rebate on the provincial land transfer tax of up to $4,000. The property must be your principal residence and you must never have owned property anywhere.
First-Time Home Buyer Tax Credit (HBTC)
~$1,500 back at tax time
Claim up to $10,000 on your tax return in the year you purchase. This non-refundable credit puts roughly $1,500 back in your pocket and can offset legal fees, inspection costs and title insurance.
GST/HST New Housing Rebate
For new construction only
If you are buying a newly built home or condo in Markham, you may be eligible for a partial rebate of the HST paid on the purchase price. The builder sometimes credits this directly at closing.
Stack FHSA + HBP Together
Up to $200,000 combined
The FHSA and RRSP Home Buyers’ Plan can both be used for the same purchase. A couple who maxes both can bring up to $200,000 in tax-sheltered savings to their down payment.
Program rules and limits are set by the federal and provincial governments and may change. Confirm your eligibility with your mortgage lender or accountant before purchasing.
4 Steps Every Markham First-Time Buyer Needs to Take Before the First Showing
The buyers who win in Markham are the ones who show up prepared. Before you book your first showing in Unionville or Box Grove, work through these four steps to build a solid financial foundation and remove surprises from the process.
Step 1: Know Your Numbers
- Add up your savings and map out your true monthly spending.
- Budget beyond the down payment for land transfer tax, inspections, legal fees and moving costs.
- Factor in the carrying costs of ownership including mortgage payments, property taxes, insurance and utilities.
Step 2: Secure a Mortgage Pre-Approval
- A pre-approval locks in your price range and signals to Markham sellers that your offer is solid, which matters in multiple-offer situations.
- Your lender will assess your income, debts and credit history to confirm how much you can borrow and at what rate.
Step 3: Strengthen Your Credit
- Your credit score directly shapes both your approval odds and the interest rate you’ll pay over the life of the mortgage.
- Give yourself a few months to pay down balances and correct any errors on your report before applying.
Step 4: Buy Below Your Maximum
- The amount a lender approves is a ceiling, not a target.
- Leave room in your budget for life after closing, from furniture to travel to emergencies.
- Aim to keep total housing costs at or under 30% of your gross monthly income.
None of this preparation shows up in the listing photos, but it decides how your purchase goes. First-time buyers in Markham who do this work first move faster, negotiate from strength and settle into their new home with fewer surprises.
What Does Your Budget Get You in Markham?
Markham covers a wide range of property types and price points. Here is a general guide to what first-time buyers typically find at different budget levels. Prices shift with the market, so contact us for a current breakdown by neighbourhood.
Condo
$550K – $800K
1–2 bed units along Highway 7 in Downtown Markham and Unionville
Stacked or Freehold Townhouse
$750K – $1.05M
Cornell, Milliken, Box Grove, Wismer — most popular entry point for first-time families
Semi-Detached
$1M – $1.4M
Found across Cathedraltown, Berczy Village and Greensborough
Detached
$1.3M+
Single-family homes across all Markham communities — wide range by lot, age and location
Prices are approximate and based on current market conditions. Ask our team for a current neighbourhood-by-neighbourhood breakdown.
Frequently Asked Questions — Markham First-Time Home Buyers
What is the minimum down payment for a first-time home buyer in Markham?
The minimum down payment in Ontario depends on the purchase price. For homes up to $500,000 it is 5%. For the portion between $500,000 and $999,999 it is 10%. Most Markham homes fall above $700,000, so buyers typically need 7–10% of the purchase price at minimum. Putting down 20% avoids mandatory CMHC mortgage insurance and reduces your monthly payment significantly.
Do I qualify as a first-time home buyer in Ontario?
You qualify if you have never owned a home anywhere in the world, or if you have not occupied a home you or your current spouse or common-law partner owned as a principal residence in the past four years. This definition applies across all major programs including the FHSA, Home Buyers’ Plan, Ontario Land Transfer Tax Rebate and the First-Time Home Buyer Tax Credit.
Can I use the FHSA and the RRSP Home Buyers’ Plan together?
Yes. Both programs can be used for the same purchase. A couple who maxes out both FHSAs ($40,000 each) and both RRSP Home Buyers’ Plans ($60,000 each) can bring up to $200,000 in tax-sheltered funds to their down payment. This is one of the most powerful financial moves available to first-time buyers in Canada right now.
What closing costs should I budget for in Markham?
Budget 1.5–4% of the purchase price in closing costs on top of your down payment. In Markham this typically includes Ontario Land Transfer Tax (offset partly by the first-time buyer rebate of up to $4,000), legal fees of $1,500–$2,500, a home inspection at $400–$600, title insurance, and property tax and utility adjustments. On a $900,000 Markham home, expect $15,000–$30,000 in closing costs beyond the down payment.
How competitive is the Markham market for first-time home buyers?
Markham is one of the more competitive GTA markets for first-time buyers, especially for condos in Downtown Markham and freehold townhouses in Cornell, Wismer and Box Grove. Multiple-offer situations are common on well-priced properties. Buyers who arrive with a strong pre-approval, a flexible closing date and an agent who knows the specific neighbourhood have a clear advantage over buyers who are still sorting out their finances.
What type of home can a first-time buyer typically afford in Markham?
Entry-level options in Markham include condos starting in the mid-$500,000s along Highway 7, stacked and freehold townhouses in the $750,000–$1,000,000 range across Cornell, Milliken and Box Grove, and semi-detached homes from roughly $1,000,000. Detached homes in Markham generally start above $1,300,000. Our agents will show you exactly what your budget gets you in each neighbourhood based on current inventory.
Ready to Buy Your First Home in Markham?
Book a free consultation with a Kirby Chan & Co. agent. We will walk you through your numbers, your neighbourhood options, and every government program you qualify for — before you book a single showing.
Book a Free Buyer ConsultationFrequently Asked Questions
1. Why should I work with Kirby Chan & Co. as a first-time buyer?
2. How does Kirby Chan & Co. make the buying process easier?
3. What kind of support will I get during the process?
4. What if I’m not sure how much I can afford?
5. How do Kirby Chan & Co. agents turn my questions into confidence?
6. What if I’m nervous about making such a big commitment?
7. Does Kirby Chan & Co. have connections to the professionals I’ll need?
8. How does Kirby Chan & Co. ensure first-time buyers are protected?
9. How do I know if now is the right time to buy?
10. What happens after I buy my first home?
11. I’m looking for an agent who specializes in helping me buy my first home or condo. Who do you recommend?
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+1(416) 305-8008 | info@kirbychanandco.com