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The Hidden Costs of Buying a Home

Posted onJuly 19/2021By

Buying your own home can be exciting. But some homebuyers are surprised when they find out they need to pay more than just a down payment before they can take possession of their new house. To avoid being caught out, there are some hidden fees that you should be aware of, such as insurance and inspection costs. Knowing what expenses are involved when buying a home will help you develop a plan and a budget to help you make your dreams of homeownership a reality. Ask your mortgage broker about these hidden costs. Insurance Insurance costs are often tied into…

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Leaving the City to Buy a House: Pros and Cons

Posted onJune 07/2021By

Stay at home measures that have affected life in Canada over the past year have caused an uptick in the number of people opting to move out of the city for a bigger home. But is the move worth it? Here are the pros and cons of leaving the city to buy a house. Pros You may already have some ideas of why you would want to move from the city but here are some of the most common reasons people move: Lifestyle – the attraction of smaller centres for many, particularly families, is the idea of knowing your neighbours,…

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5 Reasons You Should Stop Renting and Buy a House Instead

Posted onApril 05/2021By

Depending on your age and lifestyle, many people prefer to rent an apartment or condo because they plan to move to another city or country in the near future, while others prefer to rent because they don’t want to commit to a mortgage. In the long run, though, monthly rental costs can add up, as rental prices are always on the rise. Here at Northwood Mortgage, we encourage you to consider buying a home, as it comes with a handful of benefits that you don’t get from renting. Let’s take a closer look at the top 5 reasons why you…

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6 Things No One Tells You About Buying a Home in Toronto

Posted onJanuary 25/2021By

It can be daunting for first-time homebuyers to make their way through this complex process. However, with our guidance, you’ll know more about what to expect and what to do. If you are a first-time homebuyer in the Toronto area, here are some things that will help make the process easier. Down payment. Before you even begin to shop for a home, you’ll need to save up for the down payment. The more money you can put forward as a down payment, the easier it will be to get a mortgage. It will also give you more equity in the…

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What’s the Best Time of Year to Buy Real Estate?

Posted onDecember 28/2020By

Buying a home can be an exciting time, but it can also leave you wondering when to do so. Depending on what you are looking for in a property, you may want to wait until the market is more favourable. If you are looking for the best deal, you’ll want to understand how the real estate industry changes throughout the year. Here are some ways to know when it’s best to buy real estate in Toronto. Best Time of Year to Buy a Home While there is no perfect time of year to buy a home that will suit everyone,…

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