First Time Buyer Resources
Buying your first home can be overwhelming. Whether you’re looking at a one bedroom condo or a three bedroom home, if you haven’t purchased a piece of real estate before, you’ll probably have a number of questions. As such, it’s important for first time buyers to ask all of the questions that come to mind. It’s also important to arm yourself with as many resources as possible in order to ensure that you are making an educated purchase.
If you’re looking to buy a condo, you’ll want to look into a number of things, including the logistics of condo boards and the role they play in your investment, maintenance fees and what they will entail, the important of a status certification, and the general scope of development in the particular area you are interested in buying.
If you’re looking to buy a house, it will be important for first time buyers to become familiar wit the particular vintage of both the style of the home and the neighbourhood you’re eyeing. Remember that every house has its problems, and the older they are, the unfortunately more susceptible they are to the combination of time and bad do-it-yourself renos. This is where a home inspector comes in. Although they can’t tell you everything about a house, it’s important to review an inspection prior to purchasing a home in order to make you aware of what needs a little TLC. This is especially true for first time buyers who may not be aware of the upkeep involved with the purchase of a home.
It’s true that there are major differences between buying a house and buying a condo, but the one constant for first time buyers is that you are all exempt from a small percentage of both provincial and municipal land transfer tax. First time buyers are also able to make a one time tax free draw out of their RRSP savings. Both of these options are exciting tools for first time buyers to take advantage of, but there’s more! Send me an message to learn more about how your first home purchase can be made stress-free.
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