Top 10 House Hunting Tips
Posted on Feb 22, 2022 in First-Time Buyers
When looking for a place to call home, it’s easy to get sidetracked by thinking with your heart rather than your head. Although it takes less than seven seconds to make a first impression, a quick decision could lead to an unavoidable case of buyer’s remorse. In order to avoid this, we have listed a checklist for the top ten house hunting tips you...
How Do You Buy a Home? 10 Essential Steps
Posted on Feb 22, 2022 in First-Time Buyers
You’re starting to think about becoming a homeowner and you likely have lots of questions about how to buy a home in Canada, from the overarching How do you buy a home, to specific queries around financing, home type and location, to how to make and negotiate an offer. To help simplify what can be a complicated process, we’ve outlined how to buy a...
Hidden Costs of Home Ownership
Posted on Feb 16, 2022 in First-Time Buyers
Buying a home is one of the biggest purchases you will make in your lifetime. While the initial purchase of a home is a big cost, it is important to keep in mind the expected – and unexpected – costs of owning a home. From maintenance fixes and utilities, to insurance and emergency costs, it is important to be aware of the hidden costs of home owne...
What Is a Reverse Mortgage?
Posted on Feb 15, 2022 in Mortgages
Typically, when tapping into your home’s equity, one uses a home equity line of credit (HELOC) or refinances their mortgage. What if we told you this was not the only way to free up home equity for other purposes? While a traditional mortgage is a loan secured by a home or property, the borrower must pay back the loan each month with interest throu...
Mortgage Pre-Approval: What Lenders Want To Know
Posted on Feb 11, 2022 in Mortgages
A mortgage pre-approval is an important first step in the home-buying process. Having a pre-approval in hand tells you how much you can spend on a home, and it locks in the current low interest rate for up to 120 days, so you can shop the market knowing you’re insulated from rate hikes in the near future. If the rate drops, your lender should honou...
How Much is a Down Payment on a House?
Posted on Feb 10, 2022 in First-Time Buyers
How Much You Need For a Down Payment On a Home
- Down payment vs. deposit
- Calculating your minimum down payment
- Saving for a down payment
Rising housing prices are putting some homebuyers into a tough spot. A 2021 RE/MAX report reveals some key barriers impacting personal housing affordability in Canada, according to consumers:
- a shortfall in salary (26...