Tagged : homebuyer RSS Feed

Found 4 blog entries tagged as "homebuyer".

Buying your first home is an exciting and special experience. But it can be also overwhelming. Real estate can be complex and confusing, and it’s tough to know where to start when you’re ready to search for your first home. Like any big project, a successful homebuying experience is all about getting the details right from start to finish.

To help you navigate the process, here are 5 essential tips for first-time homebuyers.

 

 

START SAVING EARLY

Buying a home will likely be the largest purchase of your life. From the downpayment, to closing costs, moving expenses, and a numerous other costs, it should come as no surprise that this purchase will take a chunk out of your bank account. Create a savings plan and start saving early to…

1,193 Views, 0 Comments

When buying a home, there are several hidden costs that are often overlooked. Since this will likely be the biggest transaction of your life, it is important to know exactly how much money you need to make the purchase.

Here’s a list of additional costs associated with buying a home that you may not know:

 

 

Moving Costs

The cost of moving can vary depending on if you hire movers, do it yourself, rent a truck, buy boxes, etc. Hiring a moving company will cost more, but will make the transition a lot smoother. You can have them pack and move everything or just move your belongings. Be sure to get estimates from a variety of moving companies to help lower costs.

 

Home Inspection

A home inspection is used to uncover any issues…

368 Views, 0 Comments

With the spring market coming to a close after an abnormally slow season, many potential buyers are asking themselves if now's a good time to buy. It’s a fair question, since the latest data suggests that activity might warm up heading into summer, and sales have increased by 55.2% from April to May.

If you find yourself in this position, there are a few factors to consider before making a decision. 

 

Better Price vs. More Variety

Pent up demand will likely result in a busier summer than usual. If you want to beat out the competition, now would be a good time to jump into the market. With less people competing, your chances of sparking a bidding war are much lower, and would likely result in a better closing price for a home.

On the other…

950 Views, 0 Comments

How to save for a down payment

Buying a home is a huge commitment, and likely the most expensive purchase you will ever make. The first financial cost you can expect is the down payment. A down payment is the amount of money put towards the purchase of a home, which represents a part of the total payment often covered by a mortgage loan.  

 

How much is a down payment?

In Canada, the down payment amount depends on the price of the home. The minimum down payment is 5% on the first $500,000 of the home price and 10% on any portion exceeding $500,000, up to $1 million. Homes priced above $1 million require a minimum 20% down.

The more you can put for your down payment the better. Benefits of a bigger down payment include lower monthly mortgage payments, paying less…

908 Views, 0 Comments