Keith and Lisa from Willows Realty Group share practical financial tips tailored for first-time buyers in Durham Region. Build confidence in your home-buying journey.

Buying Your First Home? Here’s How to Build a Smart Spending Plan in Durham Region

Hi there — we’re Keith and Lisa from Willows Realty Group, and if you’re thinking about buying your very first home in Durham Region or Kawartha Lakes, we’re thrilled to help you get started on solid footing.

Buying a home is a major step, and we know it can feel overwhelming — especially with today’s fast-moving market. But with the right plan, it doesn’t have to be stressful.

Let’s walk through how to build a spending plan that actually works for you — one that gives you confidence and clarity every step of the way.

📊 What’s Happening in the Durham Real Estate Market?

Home prices across Durham have been steadily climbing — about 10% year over year in some areas. From family-friendly spots in Oshawa to quiet, nature-filled corners of Kawartha Lakes, the region offers variety — but also strong competition.

That’s why it’s so important to understand what your budget can really handle before you start shopping. When the right home pops up, you’ll be ready to act — without second-guessing your numbers.

💡 How to Create a Smart Spending Plan as a First-Time Buyer

Here’s what we recommend to all our first-time buyers:

1. Know Where You Stand Financially

  • Add up all your income — salary, side gigs, anything regular.
  • Take a look at your savings. How much can you comfortably use for your down payment and closing costs?
  • Make a list of any debts you’re carrying. These will affect your mortgage approval, so it’s good to get clear now.

2. Set a Comfortable Budget

Use a mortgage calculator to get an idea of monthly payments you’d be comfortable with — and don’t forget to include:

  • Property taxes
  • Insurance
  • Utilities and maintenance
  • Closing costs

A home should support your lifestyle — not strain it.

3. Get Pre-Approved

A mortgage pre-approval doesn’t just help you set your budget — it strengthens your offer when the time comes. Sellers take pre-approved buyers more seriously.

Need a great local mortgage advisor? We’re happy to connect you.

4. Think About Needs vs. Nice-to-Haves

  • Prioritize must-haves (like number of bedrooms, commute time, or accessibility features).
  • Be flexible where you can — things like paint colours or flooring can be updated later.

5. Explore the Right Communities

We help our clients discover neighbourhoods that fit their lifestyle and budget — whether you want to be close to nature, need access to transit, or are looking for a walkable town centre.

💬 Our Top Advice: Stay Informed and Flexible

Your first home purchase is all about balance. Prices and interest rates may change, but with a clear plan and the right support, you can stay confident and in control.

One thing we always tell our clients: leave a little room in your budget. Life happens. You’ll thank yourself for planning ahead.

🛠 Pro Tips to Keep Your Budget on Track

  • Review your plan often: Especially if your income or expenses change.
  • Hold off on big purchases: New furniture can wait. Prioritize what matters now.
  • Build your emergency fund: A little cushion can go a long way in your first year of homeownership.

Ready to Get Started?

Buying your first home in Durham Region or Kawartha Lakes is a big milestone — and one you should feel proud of. We’re here to guide you through it with experience, local insight, and smart tech like our AI-powered home search tools.

Want help building your personalized home buying strategy?

📲 Let’s connect today!
Keith Williams: (905) 903-9250
Lisa Follows: (905) 442-5847
📧 team@willowsgroup.ca
🌐 www.willowsrealtygroup.com

💼 Willows Realty Group – Your Trusted Partner in Real Estate with the Power of AI.