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Top Concerns for First-Time Buyers

Posted onJuly 12/2019By

If you are thinking of purchasing your very first home, you are not alone. Every year, thousands of Canadians take the leap and invest hundreds of thousands of dollars towards their first home. Doing so can be an intimidating task, as applying for a mortgage can be stressful, especially if it is your first. Here, we will discuss some of the top concerns that many first-time home buyers should address as soon as possible before they invest in a new home. The Down Payment   It is important to note that putting down a higher down payment may actually have long term benefits, as doing so will also lower your monthly payments. That is, the higher the down payment, the lower your mortgage amount will be because you will end up borrowing less money from your bank or another such lender. If you put down a down payment that is…

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Purchasing A Home With Solar Panels? 3 Things To Know Before You Buy

Posted onOctober 04/2017By

There are many benefits when it comes to purchasing a home with solar panels. Solar panels are a sustainable energy source that reduce negative impacts on the environment, save you lots of money on utility bills, raise the value of your home, and aid during emergencies where power may be cut off. It’s no wonder that more and more people are looking to purchase properties with solar panels. While the benefits are numerous, there are also some considerations to take into account when it comes to purchasing a home with solar panels as well as when applying for a fixed or variable rate mortgage on a solar-powered property. Here are some things to know before you buy: Appraisal Since solar technology is still developing, and is relatively new, it may be more difficult to get an appraisal on the home. In areas where solar panels are more common, appraisers will…

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Selling and Buying a New Home? Here are Your Options

Posted onSeptember 26/2017By

For many homeowners, the purchase of a new home is dependant on the sale of their old one. While it would be ideal for the selling of your old home and purchase of your new home to happen at exactly the same time, the dates rarely line up like that. You may have sold your current home but are still searching for a new one. Or, you may have found the perfect property but are lacking a buyer for your current home. Selling and buying a new home can be daunting; fortunately, you do have options, and it can be done! Sell First There are some benefits to selling your home before buying a new one, the biggest one being that you will know exactly how much you can afford on the new home. If you don’t sell first, you may be overly optimistic about the value of your home…

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6 Questions Every First-Time Home Buyer Needs To Ask Before Buying

Posted onAugust 15/2016By

Buying your first home is exciting and possibly one of the most monumental things you’ll ever purchase. So, there are some things you should know before signing on the dotted line. How much will I be able to borrow? Before even getting all jazzed up over buying your first home, know what you can afford – and that’s not just including the mortgage. Closing costs, among other fees, have to be taken into consideration as well. The best way to figure this out is to talk to people in the know, like a mortgage professional. They will help you get prequalified for a loan, taking into consideration all the extra costs. Getting your heart set on a particular property and finding out it’s out of your price range is very disappointing. Am I really ready for this? Home ownership comes with a lot of responsibilities. If something breaks, you need…

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