First Time Home Buyers

Must-Know Tips for Buying a Home

Posted by Brad Speniel | May 24, 2015 at 6:34 pm

ESTIMATED READING TIME: 2 minutes

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Buying a house is an exciting, but overwhelming, time. There are many things to think about before you even start shopping, so be prepared. The decision to purchase a house is a big, life-changing step, and we want you to know exactly what you are getting into. Here are the top 7 tips for buying a home that you need to think about in advance. After all, you can’t start shopping until you know what you’re looking for.

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First-time Home Buyers can Tap RRSPs to Help with a Home Purchase

Posted by Brad Speniel | May 23, 2015 at 8:44 am

ESTIMATED READING TIME: 4 minutes

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Thinking about buying your first home? Wish you had saved up a good down payment? Maybe you have, but didn’t know it. Designed to help first-time buyers get into home ownership, the federal Home Buyers’ Program lets you access tax-free monies for use towards the purchase or even construction of your first home.

Why tap into your RRSP? The most common reason is to boost the down payment on a home. The bigger your down payment, after all, the smaller your mortgage. And you may qualify for better interest rates too;  your healthy down payment shows the lender that you are a low-risk candidate for a mortgage loan. more First-time Home Buyers can Tap RRSPs to Help with a Home Purchase

Smart Debt Management gives First-Time Home Buyers an Edge

Posted by Brad Speniel | May 23, 2015 at 8:37 am

ESTIMATED READING TIME: 3 minutes

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Warning bells that Canadians are too overextended on debt might be keeping some potential first-time home buyers up at night. Although home debt is ‘smart’ debt,
it’s a huge financial decision and there is a lot to think about. That’s why professional advice is recommended when making one of the most important financial decisions that most Canadians will make in their lifetime.

Homebuyers want to take advantage of today’s low rate environment but it’s hard to sort through all of the options out there and get the right combination of mortgage features, privileges and rate that is best matched to their needs. The right mortgage goes beyond just the rate — it’s important to also consider term, prepayment options, refinancing penalties, restrictions, and fees.

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New Immigrants Face Hurdles as First-Time Home Buyers

Posted by Brad Speniel | May 23, 2015 at 8:29 am

ESTIMATED READING TIME: 2 minutes

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New Canadians are making their numbers felt in the housing market, as they get settled and make the transition from renter to owner, purchasing their first homes in this country.

Over 280,000 new immigrants arrived in Canada in 2010, the highest amount in 50 years according to the Department of Citizenship and Immigration. Immigrants are expected to play a large role in the housing market in the coming decades. Between now and 2031, the foreign-born population of Canada could increase approximately four times faster than the rest of the population.

For these new Canadians, first-time home ownership may prove harder than anticipated, as they face some unforeseen obstacles, but there are definite opportunities.

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