7 Questions Every First-Time Buyer in Oakville Should Ask
- Tatiana Colhoun
- Oct 26
- 3 min read
Buying your first home is one of the most exciting and overwhelming experiences of your life. Between saving for a down payment, navigating mortgage pre-approvals, and finding the right property, it’s easy to feel unsure about where to start.
As a real estate broker in Oakville, I’ve helped countless first-time buyers move from uncertainty to confidence. The truth is, the best decisions happen when you ask the right questions early on.
Whether you’re just beginning your search or actively touring homes, here are 7 essential questions every first-time buyer in Oakville should ask before signing on the dotted line.
01 - HOW MUCH CAN I ACTUALLY AFFORD?
This question sets the tone for your entire home search and it’s about more than just the listing price.
When calculating what you can afford, factor in:
Land transfer taxes (provincial and municipal)
Closing costs (typically 1.5–4% of purchase price)
Property taxes and home insurance
Monthly utilities and potential renovation costs
Pro tip: Get pre-approved for a mortgage before you start house hunting. It helps define your budget and strengthens your offer.
02 - WHAT NEIGHBOURHOOD IS THE RIGHT FIT FOR ME?
Oakville is known for its charm, but every neighbourhood has its own personality.
River Oaks: Family-friendly and full of parks
Bronte: Lakeside living with a village vibe
Glen Abbey: Top schools and established streets
Old Oakville: Luxury, character, and proximity to downtown
Ask yourself what lifestyle fits you best - quiet streets, great schools, or walkable cafes.
03 - WHAT INCENTIVES OR REBATES ARE AVAILABLE FOR FIRST-TIME HOMEBUYERS?
The landscape has shifted ... and in your favour.
In 2025, the Ontario government removed the 8% provincial portion of the HST on new homes valued up to $1 million. That’s up to $80,000 in savings for first-time home buyers. OREA stats
Additional incentives include:
First-Time Home Buyer Incentive – Shared equity to reduce monthly payments
Home Buyers’ Plan (HBP) – Withdraw up to $60,000 from RRSPs tax-free
First Home Savings Account (FHSA) – Save up to $8,000 per year, tax-free
Tip: Work with a real estate professional who understands every available program ... it can make a big difference.
04 - SHOULD I BUY RESALE OR NEW CONSTRUCTION?
Both have advantages.
Resale Homes:
✔ Established communities
✔ Mature landscaping
✔ More negotiation flexibility
New Construction:
✔ Customization options
✔ Energy-efficient upgrades
✔ Builder warranties
In Oakville, you’ll find new builds in Upper Joshua Creek and North Oakville, while Glen Abbey and River Oaks offer classic resale homes.
05 - WHAT'S INCLUDED IN MY MORTGAGE PRE-APPROVAL & WHAT ISN'T?
A pre-approval is a strong start, but not a guarantee.
Ask your lender:
How long is my rate hold valid?
What’s my all-in purchase limit including taxes?
How will rate changes affect my payments?
In Oakville’s higher-price market, these details matter more than ever.
06 - WHAT'S THE RESALE POTENTIAL OF THIS HOME?
Even your first home is an investment. Consider:
Proximity to top-rated schools
Privacy or greenspace views
Upcoming neighbourhood developments
Pro tip: Detached homes and townhouses in walkable areas hold value better than high-rise condos in less central locations.
07 - WHO'S REPRESENTING MY BEST INTERESTS?
This is the most important question.
A skilled real estate professional does more than open doors - they protect your interests, negotiate effectively, and guide you through every stage of buying.
Look for an agent who:
Educates you on market conditions
Communicates clearly
Understands Oakville’s unique real estate landscape
Buying your first home in Oakville is more than a financial milestone … it’s a lifestyle choice. With lakeside charm, top schools, and vibrant neighbourhoods, Oakville remains one of the most desirable towns in Canada.
By asking these seven questions, you’ll make informed, confident decisions and actually enjoy the process.
If you’re ready to explore Oakville’s real estate market or need guidance as a first-time buyer, I’d love to help you every step of the way.
