Ty Lacroix Broker of Record & Owner
181 Commissioners Road W London, ON N6J 1X9
Phone: 519-435-1600 Email Ty

First Time Home Buyers London Ontario



What benefits are there to having Sutton Group Envelope Real Estate Brokerage  help me in buying a home, rather than doing it on my own?

  Our exclusive Dedicated Buyer Program provides an objective and unbiased view on the property’s true worth and removes the emotion from the buying process. We take the time up front to understand your needs, reviewing your criteria and designing a strategy to meet your goals. We then, (at no cost to you, we only get remunerated AFTER you have successfully taken possession of your home) undertake an extensive research to match your purchasing criteria with properties for sale.

  We even have access to many properties that may never appear on the open market (sometimes called “exclusive listings” or "pocket listings")

  In most cases, viewings of properties can be arranged quickly, we have access to all properties listed on the MLS system.

 We are so confident in our ability to find the right home for you, that we are the only real estate company in London that will back up its ability with the Exclusive Love it or Leave It Plan!

  Love it or Leave it


   How much do I need for a down payment?

 A down payment is the amount of money you pay upon closing, and is required to obtain a mortgage.  

• For homes with a purchase price less than or equal to $500,000 the minimum down payment is 5%
• For homes with a purchase price greater than $500,000 and less than $1 million, the minimum down payment is 5% of the first $500,000 plus 10% of the remaining balance
• For homes with a purchase price of $1 million or more, the minimum down payment is 20%

  Don't have a down payment yet?

  If you don’t have a down payment saved for your first home, you have other options.  One is borrowing up to $25,000 of your RRSP savings (per person; $50,000 per couple) under The Government of Canada Home Buyer’s Plan program, (HBP).

 There is also lease-to-own and 100% financing that may enable you to achieve homeownership sooner. A word of Caution: 100% financing and lease-to-own can be quite costly in the long run. We have excellent relationships with many mortgage specialists that can outline your options.

  Why should I get pre-approved?

 You’ll find house-hunting is much easier when you have mortgage pre-approval. You’ll save time, you will only see homes that fit your budget, you can lock in the interest rate which is typically guaranteed for 120 days, and your pre-approved status will show home sellers and their Realtors® that you are a serious buyer, which can really help during negotiations.

 The Envelope Group works with exceptional mortgage specialists who will guide you on your home buying journey and offer great rates that save you money. There’s no cost to you and you’re not obligated to accept the mortgage when it comes time to buy.

 Do I really need a Home Inspection?

  Home Inspection

 A home inspection is an investment, not an expense when purchasing a home, and we highly recommend it. The purpose of a home inspection is to reveal all deficiencies in the home. Even in newer homes, minor items are to be expected.

 However, at times, there may be larger deficiencies that may need to be addressed. Conducting a home Inspection will help alleviate any unwanted surprises. A home inspection is a cost incurred by you, the buyer, and the day the service is performed. Home inspection costs range from $300-$700 depending on the size of the home and the type of service provided. Typically a home inspection is anywhere from 2-3 hours depending on the size of the home.

 There are also other forms of inspections that we may advise such as: Environmental Testing, Wood Burning Fireplace Inspections, Septic Systems, HVAC (heating, ventilation, and air conditioning ) or an ESA Certificate (Electrical Safety Authority)

 What expenses are there when buying my first home, and when?

 There are many costs to consider when buying, we have a detailed breakdown of costs to consider and we will walk you through a full list of expenses to expect when it comes time to buy. Make sure you identify and uncover all costs-large and small, way ahead of time. Again, we will discuss this with you, and you should discuss all fees and costs with your lender, your lawyer and any other professional you may use.

 What is the fee to work with you?

  None! As a valued buying client, you work with one of our Realtors® at no cost to you.  The fee for our service is entirely covered by the home seller, which is the industry standard.

 Do I have to pay HST on the purchase of a re-sale home?

 No. HST does not apply on the purchase of a re-sale home, so you only have to budget for this expense if you are buying a new home. If you do purchase new, keep in mind that you can claim a rebate for some of the provincial portion of the tax incurred on homes priced up to $500,000.

 What is the First-Time Home Buyers’ Tax Credit (HBTC)?

  The First-Time Home Buyers’ Tax Credit (HBTC) is a non-refundable tax credit intended to help first time buyers cover costs associated with purchasing a home, and must be claimed in the year the property was purchased. You can claim an amount of $5,000 for the purchase of a qualifying home, if both of the following apply:
• you or your spouse or common-law partner acquired a qualifying home; and
• you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years (first-time home buyer).

  Do I have to pay Land Transfer Tax?

 When you buy land or an interest in land in Ontario, you pay land transfer tax. First-time homebuyers of an eligible home may be eligible for a refund of all or part of the tax.

 To claim a refund, you must be at least 18 years of age, you cannot have owned a home or an interest in a home anywhere in the world, and your spouse cannot have owned a home or interest in a home, anywhere in the world while he or she was your spouse. Previous ownership in a home means you do not qualify for the land transfer tax first-time homebuyer’s refund. The method of acquiring the home (e.g., purchase, gift or through an inheritance) is not relevant.

 You cannot re‑qualify as a first‑time homebuyer. This rule may be different from other federal programs for first‑time homebuyers (e.g., the Canada Revenue Agency Home Buyers' Plan).

Land Transfer Tax Refunds for First-Time Homebuyers

Next Steps

 As you have read, there are quite a few steps in the home buying process, having a trusted Realtor® to guide you is the next step.  We invite you to meet with one of our buyer specialists to further discuss how we can help you find the perfect home.

   Contact Us



How a Realtor Like Us Can Help

   There are some first time home buyers who may be wary of working with a Realtor to buy a property. I appreciate that and usually the fear of the unknown can be the biggest fear of all.

  Contact Sutton Group Envelope Real Estate

   It is important to note that a transaction of  real estate sale involves many details and requires the participation of several professsionals such as Realtors, mortgage loan providers, home inspectors and lawyers.

   Here are a few points of how a Realtor can help you.

  • The first is that the Realtor is a licensed professional. This means he or she is goverened by the Real Estate Council of Ontario and must adhere to safe practices, due diligence and etics set out by the council, failure to do so , Realtor faces a severe fine or even loss of their license.


  • Second: The Realtor is a facilitator who is able to put you in touch with other professionals.


  • Third, is that a good Realtor is a a negotiator who knows the real estate market, current conditions, mortgage rates, good buys, bad buys and is working for you, not the seller.


  • Fourth, is that a good Realtor is a diligent representative. When they help you to buy a house, they can search for properties that meet your future needs at a price you are able to pay. They arrange appointments, and will keep you informed of new properties that go on the market with similar characteristics. And best of all, you do not pay a fee to work with a buyer's representative!




First Time Home Buyers, London Ontario Stop Paying Rent Now

       Do NOT Sign Another Rent Cheque Until You Consider This

  rent or buy
   You could stop flushing away rent money every month, stop making your landlord money, and buy a home or a condo of your own and in most cases, we can help.
     Imagine; a home of your own! A fenced yard for the kids. A garage for your car. Enough room for your stuff. Your own place! Privacy. Comfort.
           Why Now?
  Interest rates are low. The time just couldn’t be better to get financing for a house or a condo in London Ontario and area.
          What About Credit Challenges?
Even if you do NOT have perfect credit, there may be loans available for you. Even if you are self-employed, there are loans available to you. Whatever your current situation, there’s probably a home loan just right for you, and the mortgage specialists we work with may be able to help.
             Renting instead of buying
    Won’t I Need A Large Payment?
   You do not need a large chunk of money for a down payment either. Right now, you will need at least a 5% downpayment.
  Let me tell you about Charlie and Sue. They had rented for 24 years. They raised 4 children in rental apartments and homes. Just recently, I helped them find a nice bungalow in London and buy it with $7,350.00 down. Charlie and Sue got out of their apartment with the  noisy neighbours and no place to park their car, got into a really neat place in a nice neighbourhood with 5% down.
  Now Charlie has a back yard and learning about BBQ's and able to sit out back and relax a bit. And instead of paying rent each month and losing that money forever, that same payment is now an investment, creating security for both of them in the future. Oh and by the way, their mortgage payments and taxes are less than they were paying in rent!
  Can we help you do that as well? In most cases, yes!
  Every Month You Wait, You Flush Your Hard Earned Money Right Down The Drain.
                    Flushing Money Away by renting
  Renting is wasting money. You make your landlord rich, but you do nothing for yourself. By putting those exact same dollars into a “house payment” instead of “rent”, you create “equity”….. value that you own, that later can send your kids to university, finance the start-up of your own business or pay for your retirement.
   You could even be your own landlord and build up future financial security. We’ll even show you easy strategies to speed up the pay-off of your home without making extra payments. 
There’s no reason to wait. We can help you buy a home RIGHT NOW.
  By the way, we helped Jack & Carolyn  buy their first home 6 months ago. Jack and Carolyn had a bankruptcy four years ago and were worried they could not buy a home for a long time. I helped them purchase a nice 2 bedroom condo for $104,900 with only $6,000 down. Jack’s whole attitude has changed.
  He is no longer a renter who cannot buy because he has a bankruptcy. He is a homeowner and you can tell he’s proud of it. He’s already talking about renting out his condo and moving up to a bigger home in a few years.
  I remember when Verna called us last year. She had lived in the same house for 40 years and after her husband passed away, she was urged by her family to move to an apartment “to save money”.
  After 16 months in an apartment, the cat and her were going stir crazy. She liked to tinker about and she didn’t like the noise and all the traffic. Our associates helped her find a great one bedroom condo with a balcony, she has her own laundry and oodles of storage and get this, her payments are less than what she was paying in rent!
  Switching from renting to home ownership can help you go from being in debt or “cash poor” to becoming financially secure, too. You can use home ownership as the “foundation” of a complete change in your finances!
 Being A Homeowner Makes You Feel Good
                        feeling good about buying
 In addition to the smart financial reason for buying your own home instead of renting, you will feel better about yourself and your life. You’ll provide a safer place for yourself, your spouse, your family. You can decorate your home just as you please. You’ll enjoy inviting people over to your home.
 Will I have To Settle For A Home I Don’t Love?
 The inventory of available houses and condos in London Ontario and area are plentyful.  We’ll talk about the kind of home you want, the kind of neighbourhood you want to live in, your finances, and then we will do all the hard work of finding the perfect home for you. A home you can afford, with a loan that’s right for you. A home you’ll be proud of. A home you can move into now.
   Of course, everything you tell us is completely private and confidential. Our profession mandates this high level of integrity. We work for you. As professional full time Realtors, we are a counselor and advisor only,  we are not a mortgage broker or a money lender.
 We know the best mortgage specialists in London that can help you get a home to move into. We do not get a fee for referring you to them nor do we charge any fees if you work with us, the home seller pays our fee.
 You see, we only get paid by the sellers real estate brokerage if you successfully buy a home through us, you do not pay us a nickle.
 Why Not Explore This Idea? What Do You Have To Lose?
   Why not contact us now and see if we can help"
You Never Pay A Cent Out Of Your Own Pocket For The Work We Do For You