Buying a new construction home? 4 key steps before you buy
Posted on 01 May 2023(NC) Buying a home is the start of a new chapter, and for many homebuyers the idea of living in a brand-new home that reflects their personal style is very appealing. But buying a pre-construction home is different than buying on the resale market, and it takes some upfront research.
Here are four steps to help you go from window-shopper to serious homebuyer.
1. Decide what suits y ...
3 myths every custom home buyer needs to be aware of
Posted on 01 May 2023(NC) A new construction home can be an exciting but also scary undertaking for many of us. When you choose a builder, you’ll want someone who plays by the rules. In Ontario, this means they are licensed and that they enrol your home into the provincial new home warranty program. New home builders who operate outside of these rules are working illegally, and ultimately putting you at significant ...
Buying a home? Pros and cons of buying pre-construction
Posted on 01 May 2023(NC) Buying a home is an exciting journey - and it’s full of big decisions. One of your first steps will be to choose which type of home you’re shopping for: an existing home, or a pre-construction home. According to a recent survey of people thinking of buying a new home in the next year, four-in-ten say that buying pre-construction offers the most peace of mind, most often because they can ...
How to get a British mortgage when you're self-employed
Posted on 01 January 2022Self-employed in the UK? Financing a new home might seem like a pipe dream, but it IS possible to get a mortgage approved without changing careers. It's understood that job stability is a key factor in the loan approval process, which puts the more than four-million self-employed individuals in the UK at a disadvantage. Needless to say, it's a lot easier for employees working for a bu ...
Realtors share their tips and tricks for winning a bidding war
Posted on 12 May 2021Ontario’s cottage real estate market is hot right now—there’s no arguing with that. Bidding wars have sent the price of recreational properties soaring. This year, recreational property in Ontario is forecasted to increase by 17 per cent, reaching an average price of $547,207, according to Royal Lepage’s 2021 Recreational Property Survey. Much of this is due to the COVID-19 pandemic, whic ...
Here are the most affordable cities in Ontario for buying a home right now
Posted on 12 May 2021As the trend of working remotely entrenches itself as the new norm among office workers, more and more young urbanites have been fiddling around with the idea of moving away from Toronto — because why would you pay to live somewhere so dang expensive if you don't have to? Jobs that previously required a schlep into the downtown core every day can now be done from anywhere — lik ...
Buying a house: What happens after your offer is accepted?
Posted on 12 May 2021It may have taken months, or maybe years, of preparation. But you’ve finally saved up a down payment, zeroed in on your dream home and made an offer. Now the sellers have accepted and you’ve settled on a closing date. Soon, your new home will be yours. So what’s left to do? Celebrate – then get ready to do some more work. Once the seller accepts& ...
Canada's mortgage rates are rising fast — here's how to secure the lowest rate possible
Posted on 12 May 2021This article was created by MoneyWise. Postmedia and MoneyWise may earn an affiliate commission through links on this page. Homebuyers and homeowners rushed to join the party when the COVID-19 crisis produced some of the cheapest mortgages Canadians had ever seen. Dirt-cheap interest rates, fewer home listings and high demand fuelled sales. As a result, a record-breaking 551,000 homes c ...
Should you consider a variable rate mortgage?
Posted on 12 May 2021Could recent news from the Bank of Canada signal a continued boon for variable rate mortgages in 2021? The Bank’s announcement in March that it would keep its overnight rate at a lower bound for the foreseeable future was good news for Canadians exploring the possibility of going down the variable rate avenue. Data from Ratehub showed that fully 60 basis points currently separate the best fixed ...
Mortgage agents beware: don’t be seduced by low rates
Posted on 12 May 2021Mortgage agents who recommend options solely based on interest rates are not serving their clients’ interest and expose themselves to liability - and Chris Cheng, at RESCO Mortgage Investment Corporation, wants to see that change. RESCO is a mortgage investment corporation which specializes in first and second residential mortgages, bundle mortgages, and bridge loans. According to RESCO’s COO ...
