Two years ago, the world was at a standstill, and so was homebuying. With everything that’s happened, it now looks like things are starting to ease up and those who were planning to purchase their first home back in 2020, can now pursue their plans again to get that home they’ve always wanted.
Homebuyers should be quick to know how the real estate market has turned into a seller’s market at the moment, with established homes now asking for offers, most slightly higher than the listed price.
The current issues faced by the global market have indeed affected housing and could put another toll on those who can’t wait to transition from rental to homeownership. But there’s still that bright side, the time to purchase a home could not be better than today.
Federal government programs have been quick to see that renters have a chance to buy a home through a new program. The RRSP Home Buyers’ Plan allows a homebuyer to borrow up to $35,000 from their RRSP (registered retirement savings plan) in order to fund the down payment of their first home. For couples, the maximum amount they can borrow is $70,000.
Many of us moved to a “work from home” setting and it is a good idea to put aside the dollars you would normally spend on gas, it soon adds up. If you are to return to the office soon, maybe look at alternative travel costs or a nearby colleague could look at a car share possibly.
As we prepare to announce and launch our exciting new homes for First Time Buyers, we have created our Helping Hands Scheme, trying to assist First Time Buyers as they begin their exciting, First Home journey. We hope our suggestions for saving every extra dollar possible, may have shown that every dollar does make a difference.
Be sure to book a special session with our mortgage specialist, Heidi Kinar. Learn how your first homebuying experience can be stress-free with Heidi’s friendly approach and expertise in a home mortgage application. You will be given the opportunity for a one-on-one consultation with Heidi so you can get the best rates and recommendations for the mortgage application that you’ll need.
This is our offering to take the pressure off homebuying after the pandemic. It is our dream that you can have a home you’d be proud to call your home, a home that comes with that security and value for your money.
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Author trevor
