Thinking of Buying?
April 19th 2010 is the date that the structure of first time mortgages was changed. The change means that you now have to qualify for the 5 year fixed term rate. Which is currently 4.19%. Which is the still low despite all the doom and gloom in the media. You can get a 1.9% variable rate right now which is incredible. The changes the government has made to financing is a good thing. The plan is to make sure that the average person doesn't over extend themselves and then we end up with the same situation that they had in the United States with the Sub Prime Fiasco.
The HST is here. There is a slight increase when buying new homes. Even with the HST rebate you are now paying more tax then you did with GST. There is not an additional tax on previously lived in homes. This is good news for your average home buyer.
When searching for your dream home, it’s important to be well informed of the Real Estate market. To help you with this process, consider the following factors: What features do you require in a home to satisfy your lifestyle now? Five years from now? Will your needs change? What’s your budget? These are decisions only you can make, but can help and will do everything possible to match you with your dream home.
Give me a call, I would love to help you!
Jacquie Wilson