Saskatoon Real Estate Buyer’s Checklist
Buying a home in Saskatoon isn’t quite as simple as it looks on TV. It’s an exciting journey, but it also involves careful planning, financial preparation, research, patience, and the right guidance along the way. Since purchasing a home is one of the biggest investments most people will ever make, it’s important to understand the process before jumping in.
This Saskatoon Real Estate Buyer’s Checklist will help you stay organized, informed, and confident as you move through each stage of buying a home.
Prepare Your Finances
01
Before you begin searching for homes, it’s important to make sure your finances are in order. In Saskatchewan, buyers typically need a minimum down payment of 5% of the purchase price. You’ll also want to ensure your credit score, income stability, and debt levels are in good shape before applying for financing.
Lenders may request documents such as pay stubs, employment letters, proof of savings, tax returns, or Notices of Assessment if you’re self-employed.
Financial Preparation Checklist
- Save for your down payment
- Review and improve your credit score if needed
- Gather important financial documents
- Evaluate your monthly expenses and budget
- Ensure stable employment or income history
Get Pre-Approved for a Mortgage
02
Getting pre-approved helps you understand how much you can comfortably afford before you begin shopping for homes. A lender or mortgage broker will review your income, debts, credit history, and down payment to determine your borrowing amount.
Having a mortgage pre-approval can also strengthen your position when submitting an offer, since sellers know your financing has already been reviewed.
Mortgage Pre-Approval Checklist
- Compare lenders or mortgage brokers
- Obtain a mortgage pre-approval letter
- Use a mortgage calculator to estimate payments
- Determine a realistic monthly housing budget
- Understand your estimated closing costs
Create Your Wants and Needs List
03
Before viewing properties, take time to identify what you’re truly looking for in a home. Think about your daily lifestyle, future plans, preferred neighbourhoods, and the features that matter most to you.
It’s also helpful to distinguish between your “must-haves” and “nice-to-haves,” especially if you’re shopping in a competitive market.
Wants & Needs Checklist
- List your must-have home features
- Identify deal-breakers
- Choose preferred neighbourhoods
- Decide on ideal home size and layout
- Separate “needs” from “wants”
- Consider future resale value
Build Your Home Buying Team
04
Buying a home is much easier when you have experienced professionals supporting you throughout the process. Your team may include a Realtor®, mortgage broker, lawyer, home inspector, and trusted contractors or tradespeople.
Having knowledgeable professionals on your side can help you avoid costly mistakes and make more confident decisions.
Home Buying Team Checklist
- Choose a trusted Realtor®
- Connect with a mortgage professional
- Research lawyers and home inspectors
- Ask for professional referrals if needed
- Build a reliable support team
Start House Hunting
05
Now comes the exciting part — searching for your future home. Many buyers begin by browsing online listings, but working with a Realtor® gives you access to MLS® listings tailored to your specific criteria.
Viewing homes in person is essential, since photos don’t always reflect the true feel, layout, or condition of a property.
As you tour homes, pay attention to the condition, layout, storage, location, nearby amenities, and long-term resale potential.
House Hunting Checklist
- Review listings regularly
- Schedule in-person showings
- Compare layouts and features
- Research neighbourhood amenities
- Keep notes and rankings for each property
- Stay open-minded during viewings
Submit an Offer
06
Once you find the right home, it’s time to submit an offer. Your Realtor® will guide you through the purchase contract, including price, deposit amount, conditions, inclusions, and possession date.
Depending on market conditions, there may be negotiations or multiple offers involved.
Offer Submission Checklist
- Prepare your deposit funds
- Review all contract terms carefully
- Understand conditions and timelines
- Provide valid photo identification
- Be prepared for negotiations
- Review inclusions and possession details
Complete Conditions and Due Diligence
07
Most offers include conditions that protect the buyer while important checks are completed. Common conditions may include financing approval, home inspections, or reviewing important property documents.
Once all conditions are satisfied, you’ll sign a removal of conditions document, making the sale officially firm.
Conditions & Due Diligence Checklist
- Finalize mortgage approval
- Schedule a home inspection
- Review property documents carefully
- Confirm insurance requirements
- Sign condition removal paperwork
- Begin preparing for your move
Closing Day and Possession
08
Closing day is when ownership officially transfers from the seller to the buyer. Your lawyer will prepare the legal paperwork and coordinate with your lender to complete the transaction.
You’ll also want to prepare for closing costs, utility transfers, insurance, and moving arrangements ahead of possession day.
Closing Day Checklist
- Contact your lawyer before possession day
- Arrange home insurance coverage
- Prepare funds for closing costs
- Transfer or set up utilities
- Schedule movers if needed
- Pick up the keys to your new home
