If you are about to purchase a new home, this homebuyer guide is for you!
Property ownership is an excellent investment whether you’re looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your initial
investment — as long as you’re financially ready. The Canadian Mortgage & Housing Corporation (CMHC) recommends some things that you should consider when deciding to buy:
Financial Security
Your home can provide you with financial security due to capital appreciation— as the
value of your home increases over time, so does your equity
Stability
Having a place you can call your own.
Financial Stress
Added financial responsibilities such as: coming up with the down payment, making
regular mortgage payments and ongoing costs associated with home ownership can tie
up a lot of you cash and put stress on your finances.
Maintenance
Keeping your home in good shape requires time and money.
Responsibility
You alone are responsible for payments, repairs, and maintenance.
Flexibility
You can decorate or renovate your home to meet your family’s needs and personal tastes