A home is one of the most rewarding purchases you can make, but it definitely comes with its share of unpredictable expenses. As much as possible, you want to avoid being caught by surprise as a house is a large investment. So, before you proceed to purchase a house, make sure you have an idea of what you’re getting into and whether you can afford it. You don’t want to fall in love with a home only to find out that the cost of living there will overextend you. To help you take into account all of the expenses involved, Keith Uthe Demystifying Mortgages has created a Beginner’s Guide to the top five cost surprises for first-time homebuyers. We’ve also included other items you should be considering, so you’re not shocked when the bills start arriving.

If you want to purchase a house but are unsure about how much you can spend, knowing which homes are within your range is difficult. For example, you might find a property that looks exactly like your dreams but have no idea about whether it’s a realistic option for your budget. In such cases, it helps if you get a pre-approval. A pre-approval means that a lender has agreed, in principle, to lend you a specific amount towards the purchase of a house. However, they have not yet proceeded to the final approval. A pre-approval allows you to know the maximum funds available to you so you can narrow your search and negotiate with more certainty.

Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  Jordan Press, The Canadian Press

Original Article Posted on:  June 9, 2021

Link to Original Article:  https://www.advisor.ca/news/economic/bank-of-canada-keeps-key-interest-rate-target-on-hold/

The COVID-19 pandemic has pushed up the cost of building materials significantly. Consequently, The National Association of Home Builders (NAHB) estimates that high lumber prices are currently adding at least $24,000 to the price of a typical new single-family home.

Original Article Source Credits:   Calgary Herald , https://calgaryherald.com/

Article Written By:  Joel Schlesinger  

Original Article Posted on:  June 11, 2021 

Link to Original Article:  https://calgaryherald.com/life/homes/new-homes/decline-in-demand-hasnt-stemmed-price-gains-for-homes-across-canada

Original Article Source Credits: Western Investor, https://www.westerninvestor.com/

Article Written By: Dino Infanti, KPMG LLP Canada

Original Article Posted on: Jun 30, 2021

Link to Original Article:  https://www.westerninvestor.com/british-columbia/federal-tax-change-helps-keep-business-in-the-family-3923037?

Original Article Source Credits:   Edmonton Journal , https://edmontonjournal.com/

Article Written By:  Joel Schlesinger 

Original Article Posted on:  June 11, 2021 

Link to Original Article:  https://edmontonjournal.com/life/homes/edmontons-luxury-market-experiencing-trickle-up-effect

Original Article Source Credits:    CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  June 15, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/06/housing-market-moderates-in-may-but-prices-forecast-to-rise-19-3-this-year/

Original Article Source Credits:   Loans Canada , https://loanscanada.ca/

Article Written By:  MATTHEW TAYLOR

Original Article Posted on:  NA

Link to Original Article:  https://loanscanada.ca/credit/these-factors-hurt-your-credit-the-most/

Over the past twelve months, the COVID-19 pandemic has affected the Canadian economy significantly, which has had a knock-on effect on the mortgage industry. 

Original Article Source Credits:   Better Dwelling , https://betterdwelling.com/

Article Written By:  Kaitlin Last

Original Article Posted on:  MAY 24, 2021

Link to Original Article:  https://betterdwelling.com/canadian-real-estate-is-seeing-home-buyers-fall-faster-than-sellers/

Original Article Source Credits:   Calgary Herald , https://calgaryherald.com/

Article Written By:  Joel Schlesinger 

Original Article Posted on:  May 20, 2021 

Link to Original Article:  https://calgaryherald.com/life/homes/new-homes/calgary-real-estate-poised-for-more-growth-as-economy-recovers

Original Article Source Credits:    CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  May 12, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/05/latest-in-mortgage-news-house-prices-to-moderate-this-year-says-cmhc/

Original Article Source Credits:   Better Dwelling , https://betterdwelling.com/

Article Written By:  Daniel Wong

Original Article Posted on:  APRIL 27, 2021

Link to Original Article:  https://betterdwelling.com/canadian-real-estate-sales-are-forecast-to-slow-and-its-going-to-drag-the-economy/

Original Article Source Credits:   CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  April 19, 2021

Link to Original Article:  https://www.canadianmortgagetrends.com/2021/04/high-home-prices-a-growing-obstacle-for-first-time-buyers/

Original Article Source Credits:   Loans Canada , https://loanscanada.ca/

Article Written By:  MARK GREGORSKI

Original Article Posted on:  NA

Link to Original Article:  https://loanscanada.ca/credit/what-to-do-if-you-have-a-zero-credit-score/

Original Article Source Credits:   CBC News , https://www.cbc.ca/

Article Written By:  CBC News

Original Article Posted on:  Apr 03, 2021

Link to Original Article:  https://www.cbc.ca/news/canada/edmonton/edmonton-pandemic-real-estate-1.5971753

Original Article Source Credits:   Better Dwelling , https://betterdwelling.com/

Article Written By:  Better Dwelling

Original Article Posted on:  APRIL 4, 2021

Link to Original Article:  https://betterdwelling.com/this-weeks-top-stories-imf-warns-canadian-real-estate-prices-are-overvalued-and-over-leveraged-borrowers-now-a-record-market-share/

If you are a Canadian with a mortgage, learn how to turn your biggest liability into your biggest asset. Is your mortgage reducing your tax bill? Is your mortgage enabling you to invest on a monthly basis? Would you like it to be?

Original Article Source Credits:   CBC News , https://www.cbc.ca/

Article Written By:  The Canadian Press 

Original Article Posted on:   Apr 02, 2021

Link to Original Article:  https://www.cbc.ca/news/canada/calgary/creb-housing-market-march-1.5974375