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Purchasing a home will likely be the
largest single investment of your lifetime. When combined
with the fact that buying a house is not an everyday affair,
it is easy to understand why the process may be somewhat intimidating.
Nonetheless, as Canadians, we generally view home ownership
as a realistic goal to achieve, regardless of the hurdles.
Of course, your first home may not be your dream home, but
it can be a starting point from which to work forward.
Going through the purchase process
more than once in your quest for that dream home will educate
you and make you more aware of your needs and wants. It will
also teach you ways to maximize your dollar; for example,
by learning that a mortgage with an interest differential
penalty may not be as attractive as a mortgage with a 3-month
interest penalty.
Hence, the purpose of the following
topics will be to familiarize you with the home buying process.
Whether your next purchase will be your first home or your
sixth, I am confident that you will pick up a point or two
as you read through each article. For instance, you may not
know that a 'first time home buyer' could include someone
who has already owned a home or that you can use your RRSP
to buy a home. If you are a military member, you will also
have other issues to consider, such as the Integrated Relocation
Program (IRP), and its implications with regards to your home
purchase.
If you would like clarification
or more information about any of the topics below, please
do not hesitate to contact me directly at david@davidweir.com.
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