Marie-Christine Daignault | Desjardins Group
Thinking of buying your first home but worried about making such a big commitment? We address 3 concerns shared by first-time buyers.
- Young people can’t afford to buy a house anymore.
When the Government of Canada tightened mortgage requirements last fall, it was all over the news. House prices have evened out a little; as for condos, it’s still very much a buyer’s market. And that’s good news for first-time buyers!
Here are some tips to be able to afford your first home:
- Get started early
- Save for a down payment
- Consider your financial commitments
- Set aside 3% of the value of your house for start-up costs
- Get pre-approved for a mortgage loan
- Work with expertsand ask questions
- It’s possible to buy a house without a down payment.
Wrong. Despite what some may have you believe, you always need a down payment to buy a house…
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