Buying a Home: What Can You Afford?

If you're thinking about buying a home, a question that will undoubtedly weigh heavily on your mind is: "How much can I afford?"

Obviously, real estate affordability will play a major part in your decision making process. You want to be able to buy something you like, but you don't want to feel stretched to the limit when it comes to meeting your financial obligations. Once you discover exactly what you can afford, you can be more realistic in your expectations.

If you're like most people, you lack the funds to make a purchase without seeking substantial help from a lending institution. In addition to coming up with a down payment, you'll have to arrange a mortgage.

Are You In The Market For A New Home?

Buying a residential property means different things to different people. The word "HOME", however, says it all: comfort, shelter, and security. Therefore, committing to such an investment is indeed a major decision. It has to be done right in view of finding the home that meets your lifestyle requirements and is a sound investment in the long term.

Sales figures point to a strong real estate market on Vancouver Island. Interest rates are low and there's a good supply of favorably priced homes. That's good news to anyone who is seriously considering home ownership.
Ideal home-buying conditions, such as those just mentioned, can place the potential home Buyer in a quandary when it comes to focusing on a range of ideal properties.

Buying your first home

If you are tired of helping to pay your landlord's mortgage, but think a home of your own is financially out of the question, think again!

Surprising as it may sound, you'll find that the costs of owning a home, in many cases, can be substantially lower or comparable to those of renting. Also, with interest rates at their lowest in decades, a wide variety of housing choices and some help from government incentives, there's never been a better time to make your dream of home ownership come true.

Buying Your First Home - 2

With today's low interest rates, many people are finding the prospect of buying their first home attractively affordable. If you are considering homeownership in the near future, you'll want to have a REALTOR® on your side to guide you.

Buying a home, especially for the first time, can be a daunting experience. Yes, it is likely one of the most exciting events in your life, but it can also be the most confusing. A REALTOR® is a highly-trained and experienced individual who will skillfully direct you through the home-buying process. A REALTOR® is a licensed real estate professional who is a member of a local real estate board, as well as the Canadian Real Estate Association and the Ontario Real Estate Association. When you work with a REALTOR®, you can expect the highest level of service, honesty and integrity.