If you’re starting to think about buying your first home, you’ve probably heard someone mention getting pre-qualified for a mortgage. It sounds like a good thing, right? You want to be sure you’ll qualify for a mortgage before you do any serious shopping.
When When you think about the advantages of buying an Edmonton condo, “resale value” is rarely one of the things that comes up. People tend to assume the value of a condo is stagnant at best. They think it’s hard to sell condos on the resale market and worry they’ll have to take a loss when it’s time to sell.
The term “house poor” refers to someone who spends so much on their home they struggle with all their other expenses. While a home is usually a good investment because it allows you to build equity, you also have to keep an eye on your finances.
As you prepare to enter your golden years, the desire to find a home and community that better match your current needs intensifies. Throughout Edmonton, new communities have been sprouting up, offering home buyers the opportunity to live in neighbourhoods full of amenities.
As you plan to buy your home, you may find yourself overwhelmed by all of the added costs that go into a mortgage payment. Many home buyers have to pay for private mortgage insurance, also known as CMHC mortgage insurance. It typically adds just a small amount to the monthly payment, but it’s important to keep it in mind as you search for a home.