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Advice for Buying A Home in Canada

Advice for Buying A Home in Canada

posted in Mortgage News

With the pandemic still affecting Canada as it is the rest of the world, many more Canadians will be staying at home this winter, making it an ideal time to search for, and buy a home that can meet all your needs and give you the perfect, functional space to live, work, play and work out in.

If you’re considering buying a new home in Canada this winter, the following advice and guidance just might be of use:

Note that things are very different this winter:

While the early spring real estate market is typically the busiest time of the year, the ongoing pandemic put pay to that, and the entire country slowed to a virtual standstill. However, once the strict restrictions began to lift in the summer, the housing market experienced a real boom, and in many areas of the country, that surge in sales continues. While you might not find an amazing winter bargain as such, prices will almost certainly be lower than in the upcoming spring and summer months, and it could be a great time to purchase your dream home.

Get pre-approval or pre-qualification before you begin your search:

Knowing what amount of money, you’ll have for your new home, enables you to begin a more focused house hunt, and can show both sellers and realtors that you’re doing more than just window shopping. Getting pre-qualified or pre-approved for a mortgage is a great way of doing that.

Be mindful of delays due to holidays:

With the onset of the digital age, many aspects of the mortgage market can be carried out virtually, with minimal paperwork and no requirement for in-person meetings. However, the financing process can still be slowed down by public holidays, so always be mindful of when those are, and be prepared for delays at those times.

Always work with a reputable broker:

With so much experience of the mortgage industry as a whole, and access to great deals that the wider public may not be privy to, mortgage brokers are extremely well placed to advise you throughout the entire mortgage process, and to ensure that not only do you never miss out on any deals, but that you find the best one for your circumstances.

Because mortgage brokers are independent and answer to nobody but themselves, they’re not controlled by the big lenders and have no financial incentive or obligation to promote their deals. Their job is to find the best mortgage deal for you, and to help you find your dream home, without breaking the bank or leaving you destitute for the next decade!

For up-to-date, accurate and honest guidance for purchasing a home in Canada this winter, talk to an experienced, local mortgage broker.

 

Mortgage News

27 dJan, 2021

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