Programs are Available to Help You Purchase Your Dream Home Today
Real estate is one of the only entities that will continually go up. Even though there are specific down-market times throughout history, essentially, investing in real estate is a sound option. Many families and individuals in Canada dream of one day owning a home, but fear that dream is not a real option for them. However, with recent changes to stipulations surrounding home ownership in the country and an influx of available government funded programs, your dream can come true. If you have ever dreamt of buying a home for you and your family, now is the time.
Your First Home, Your Dream Home
Canada is growing faster than ever before. Therefore, the housing market is particularly hot right now. The government has finally realized that every family must start somewhere and have enacted a specific program targeting first time home buyers. This program enables first time home buyers with limited experience in the housing market to get a piece of the pie.
Am I Eligible for This Program?
This program brings potential homeowners together with the Housing Corporation and Canada Mortgage to provide smaller payments to the potential first time buyer. With the reduced monthly expenses, buying a home is a lot easier, but not everyone will qualify. If you are in the market for a new home and happen to be a first time home buyer, all you need to do is…
- Be a Canadian Resident
- Make Less Than $120,000 Annually
- Be Comfortable Sharing Between 5% and 10% Ownership with CMHC
How Long is the Mortgage?
With general mortgages, repayment plans vary from 5 to 30 years, but under this new plan for first time home buyers, the repayment plan allows for 25 year mortgages. Additionally, unlike some standard mortgage agreements, early repayment of the full amount is not penalized.
Thinking of Moving in Your New Home Soon?
The newly enacted Canadian first time home buyer incentive program has opened the doors up to many homeowners that would not have a chance under normal mortgage stipulations of getting approval. The news that anyone these days can be a homeowner in Canada is certainly refreshing and you might be thinking of buying your new home soon. Let us give you some expert advice from homeowners who have been right where you are.
Think of the Space
Once you have decided on your new home and get involved in the program you will ultimately start planning where everything will go and what new furnishings you need to purchase. Take measurements of the space to ensure everything you want in the home will fit. Homeowners who neglect this step often find themselves with too much furniture and too little house. With a little careful planning, you can manage your interior space and have the exact look you have always wanted. A pencil and paper can get you a long way with planning your space, but also check out online interior design programs that will give you an even better look at where everything should go.
Homes these days are filled with available storage and smart storage options, but that is not always enough. Some of the older homes neglect storage completely and the homeowner must find alternative storage options. Thankfully, there are many DIY tutorials for additional storage along with endless pre-made storage options to choose from in home improvement stores. If, however, you find that you need to reduce the amount of stuff in your home even further, a storage unit can give you the extra space you require at a very budget friendly price.
Paint Before Moving Everything In
Preparing to move into your new home can be a very enjoyable time for you and your family, but there are also things you need to consider. Once you move everything into your new abode, painting walls and other areas of the home will become a chore. Consider painting, refinishing, and adding new fixtures to the place before the first piece of furniture is moved in. Painting before you move in will allow for your home to feel fresh and new and you will not have to move furniture around just to paint a space.
Now is the time to make a move into your new home. The first time home buyer program is not going to be around forever, so if you have been thinking of making this large step, take advantage of it now. Renting a home or living in an apartment is fine for a while, but if you want to invest in your future and the future of your family, homeownership is a great way to do that. Your home is out there, so start looking and find your family’s future piece of real estate today.
By Lee Preston:
Lee is the Director of Marketing and Promotion for EZstorit.com. When she is not working with our storage facilities partners, she is writing about topics that affect our daily lives