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.
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A Beginner’s Guide To The Top Five Cost Surprises For First Time Home Buyers
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The Truth About Mortgage Pre-approvals
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.
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Bank of Canada keeps key interest rate target on hold
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/
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High Lumber Prices Impacting Home Building Costs
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.
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Decline in demand hasn't stemmed price gains for homes across Canada
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
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Federal tax change helps keep business in the family
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?
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Edmonton's luxury market experiencing 'trickle up' effect
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
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Housing Market Moderates in May, but Prices Forecast to Rise 19.3% this Year
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/
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These Factors Can Significantly Impact Credit Scores
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/
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Fixed Rate Versus Variable Rate - How to Decide?
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.
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Canadian Real Estate Is Seeing Home Buyers Fall Faster Than Sellers
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Kaitlin Last
Original Article Posted on:
Link to Original Article: https://betterdwelling.com/canadian-real-estate-is-seeing-home-buyers-fall-faster-than-sellers/
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Calgary real estate poised for more growth as economy recovers
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
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Latest in Mortgage News: House Prices to Moderate This Year, Says CMHC
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/
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Canadian Real Estate Sales Are Forecast To Slow, And Its Going To Drag The Economy
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Daniel Wong
Original Article Posted on:
Link to Original Article: https://betterdwelling.com/canadian-real-estate-sales-are-forecast-to-slow-and-its-going-to-drag-the-economy/
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What to do if You Have a Zero Credit Score?
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/
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This Weeks Top Stories: IMF Warns Canadian Real Estate Prices Are Overvalued, And Over-Leveraged Borrowers Now A Record Market Share
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Better Dwelling
Original Article Posted on:
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/
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The Smith Manoeuvre - Turn Your Mortgage into an Asset
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?
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Latest in Mortgage News: Rising Prices Spur Talk of Capital Gains Tax on Home Sales
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: March 23, 2021
Link to Original Article: https://www.canadianmortgagetrends.com/2021/03/latest-in-mortgage-news-rising-prices-spurs-talk-of-capital-gains-tax-on-home-sales/
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Odds of a Bank of Canada Micro Rate Cut Diminish Following Rate Decision
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: January 21, 2021
Link to Original Article: https://www.canadianmortgagetrends.com/2021/01/odds-of-a-bank-of-canada-micro-rate-cut-diminish-following-rate-decision/
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Masters Club 2021
Thank you so much for your trust and support but I cannot take all the credit because it was all our collective hard work, I would not have made it without you all.