As a potential new homeowner, it can be overwhelming to figure out if you should stop renting and buy a new home. If you've reached this crossroads, here are five reasons you should consider buying real estate. Home Equity When you are a tenant, your monthly rent payment goes towards the landlord's mortgage and helps them build equity – not you. Home equity is the difference between your home's value and mortgage balance, so the more you pay towards the loan, the more... [read more]

Getting pre-approved for a mortgage might seem like a logical first step if you are ready to put your renting days behind you or if it’s time to fly the family nest. And it is – but it also comes with an additional consideration that excited first-time buyers can forget: knowing just how much they can afford. You may think, “I know how much I can afford because my mortgage advisor pre-approved me for $625,000.” And that is correct, somewhat. During the pre-approval... [read more]

Real estate terminology can be confusing, especially for first-time buyers. Many terms are used interchangeably – and sometimes incorrectly. The terms “down payment” and “deposit” are a great example. Although both require savings, they occur at different times in the real estate transaction and serve two different purposes. Deposit A deposit is money that you put down when securing a home to purchase. There is no set amount, but it shows that you are serious... [read more]

If one of your short- or long-term goals is to leap into homeownership, you’ll want to be well-informed. A home is likely one of the biggest purchases and investments that you’ll ever make, so it’s best to be armed with the knowledge you need to make a sound decision.   Even if homeownership is a decade away, the insights you begin to collect now will be invaluable come time of purchase. Here are three specific factors that you can be more aware of now:   1.... [read more]

With the ups and downs of Mississauga's real estate market in the last year, many home buyers and sellers are confused about current conditions. Depending on who you speak to or what you read, there are varying opinions. Some will say that we are now in a seller’s market, while others will say that it’s a buyer’s market. Then there are those folks who are adamant that recent regulations have made it more balanced. Knowing where the real estate market stands can be... [read more]