If you are wondering about buying your first home, here’s some good news. This is a great time to purchase a home, so take a first step and start exploring your opportunities now.
Mortgage rates are at historical lows, which means it costs much less to carry a mortgage. On a month-to-month basis, the cost of homeownership may compare very well to renting a home. Why help someone else pay off their mortgage when you can invest in your own financial security? Consult with a mortgage specialist and find out how best to achieve your goal of owning a home.
Visit new home sales centres and talk with builders and sales agents. The new home market offers a wide selection at highly competitive prices. From the quality of construction to state-of-the-art technology and the latest designs and products, there is tremendous value in today’s new homes. Builders will explain all your options and assist you in creating the home that’s just right for you and your budget.
Buying a brand new home has a lot of financial and lifestyle benefits for first-time buyers.
- First, you won’t have costly home repairs or replacements anytime soon—this is a big advantage if you are on a tight budget for a few years.
- Save on energy costs. New homes are also more energy-efficient and come with many green options that make them easier on your pocketbook as well as easier on the environment.
- Enjoy new home comfort. Designed for modern life, a brand new home is easy to maintain and takes little upkeep. It’s a great place to come home to after work, and for entertaining family and friends.
- Experience the joy and pride of ownership. There is no feeling like buying your first home.
Home buying just became a little more affordable with the federal government’s income tax benefit of up to $750 for first-time homebuyers for costs associated with a home purchase. And under the Home Buyers’ Plan, first-time buyers can now withdraw up to $25,000, or $50,000 for a couple, tax-free, from their RRSPs for use in the purchase of a home, up from $20,000.
When you add it all up, it makes a lot of sense to investigate homeownership now.