First-Time Home Buyers in Regina: A Realtor's Step-by-Step Guide

First-time home buyers in Regina are still in one of the most attainable markets in Canada. With a benchmark price under $350,000, a first home here costs a fraction of what it does in most Canadian cities. The buyers who do best are the ones who get pre-approved, stay realistic about their first house and work with a realtor who explains every step before they start viewing homes.

Is it a good time for first-time home buyers in Regina?

Yes, if you are prepared. The City of Regina's July 2026 Growth Monitoring Report, drawing on RBC's housing affordability research, ranked Regina the most affordable Canadian city for all home types, with homeownership costs taking about 26% of household income.

Affordable does not mean easy. The Regina benchmark price was $348,900 in August 2026, up 3% year over year, and the city had only about 1.7 months of supply. That is still a seller's market. Across Saskatchewan, inventory is more than 40% below what the Saskatchewan REALTORS® Association would normally expect, so good starter homes can move quickly.

How do interest rates and down payments affect first-time buyers in Regina?

Rates set your monthly payment and your down payment sets how much you can borrow. The Bank of Canada held its policy rate at 2.25% on September 2, 2026, with its next announcement on October 28. The policy rate moves variable mortgage rates directly and influences fixed rates, which also follow the bond market. Because rates are hard to predict, the practical move is the same in any rate environment: get a pre-approval so you know your real budget, and most lenders will hold your rate for a period while you shop.

How much down payment do you need in Regina?

In Canada, the minimum down payment is 5% of the first $500,000 of the purchase price and 10% of the portion between $500,000 and $1.5 million. On a home at Regina's August benchmark of $348,900, that works out to about $17,445. With less than 20% down you will pay mortgage default insurance, which is added to your mortgage. Set money aside for closing costs too, including legal fees, the home inspection and property tax adjustments.

What kind of first home should you buy in Regina?

Buy the home that gets you into the market, not the home you plan to retire in. That is the most important advice Kelsey gives first-time buyers.

A lot of buyers don't want to start there, Kelsey says, but that is how you get into the market. A starter home is how you build equity and how you learn to maintain a house. "It's that first house that gets you into the second and the third," she explains. "It gets you closer to the house that you grew up in."

In practice, that means putting price, location and good bones ahead of finishes. A dated kitchen can be updated later. Holding out for a perfect house can keep you renting while prices keep moving.

How does buying a first home in Regina work, step by step?

Buying a first home in Regina follows eight steps, from a planning meeting to possession day. This is the process Kelsey follows with first-time buyers.

1. Meet in the office. You walk through the whole home buying process: where the mortgage broker comes in, where the home inspector and the real estate lawyer come in, what your realtor's role is, how you will look at houses and how offers are written.
2. Get your pre-approval. Some buyers arrive with a pre-approval and their numbers set. If you don't have one, it is your next step. Once you know your purchase price range, the search begins.
3. Look at homes. You view homes that fit your approved budget and your must-haves.
4. Offer and negotiation. Kelsey writes your offer and negotiates on your behalf.
5. Home inspection. A professional inspector reviews the home so you understand its condition before you commit.
6. Remove conditions. You confirm you are happy with the house as you offered on it and with what you are paying for it.
7. Meet the lawyer. Your real estate lawyer prepares the paperwork and you sign.
8. Possession day. You get the keys to your first home.

What programs help first-time home buyers in Saskatchewan?

Six federal and provincial programs can lower the cost of a first home in Regina. Eligibility rules change, so confirm the details with your mortgage broker and your accountant before you count on any of them.

How do you choose the best realtor in Regina for your first home?

For a first-time buyer, the best realtor in Regina is the one who explains the process before you see a single house and who cares more about your comfort than the size of the sale. Look for a realtor who:

• Starts with a plan. A planning meeting comes before any showing.
• Explains the team. You know how the mortgage broker, home inspector and lawyer fit into your purchase.
• Knows the neighbourhoods. They know what starter homes sell for in each part of Regina.
• Negotiates well. They write strong offers when supply is tight.
• Tells you the truth. They give you honest information, even when that means passing on a house.

Learn more about how Kelsey works with first-time home buyers in Regina, read about buying a home in Regina or browse current Regina listings.

Sources: Saskatchewan REALTORS® Association, August 2026; Bank of Canada, September 2, 2026; City of Regina Growth Monitoring Report via 620 CKRM; Canada Revenue Agency, FHSA; CRA, first-time home buyers' GST rebate; Department of Finance Canada; Government of Saskatchewan.