home owners help me ,advice needed

[Chewy]

i will be purchasing my own property within the next few months and am looking to find as much info as a i can . For those who have already bought into this market, can you reccomend any websites/books about financing, budgeting and everything else that can help me out.

thanks


ill post what i find in the process

[rawb]

ME TOO IM LOOKING DT

[Chewy]

www.mls.ca


good to start browsing the site and get and idea of what is out there.

[Revolver]

talk to your bank.

mortgages are just like any other financial product.

if you have your shit together and have strong credit then im sure it will be easy for you to get a mortgage. work bank against bank,broker against broker to get the best rate.

i think mortgages are GREAT!!!!. its like a forced savings account.

your forced to put away a grand towards my house. just look at it as a big ass savings account wich you happen to live in.

[Revolver]

oh what area are you looking in?

[robyn]

do like me and trick an old man into buying one for you

[robyn]

anna anna anna anna anna nicole

[cinist]

http://www.patdrummond.ca/

[Ree Fresh]

Common knowledge: Buy low... sell high...


Im going to wait. Recently on the news they came to the conclusion that the amount you spend renting + saving = a full mortgage payment since the interest and property tax is soo high right now.

[cinist]

^
the good thing is that you don't have to pay the property transfer tax on your first home. it's not a bad idea to wait though, everyone ive talked to and i know a lot of realtors say the market will crash bad in 2-4 years with the majority of those people siding with sooner rather then later.

[rawb]

WHILE IT IS FINE TO WAIT IF YOU'RE GOING TO FLIP THE HOUSE IN 2-5 YEARS, LONG TERM REAL ESTATE IS STILL ONE OF THE BEST INVESTMENTS. A REAL ESTATE CRASH WILL BE FOLLOWED BY ANOTHER BOOM AND ANOTHER CRASH AD INFINITUM, BUT YOUR PROPERTY'S VALUE WILL ALWAYS BE MOVING UP. AS LONG AS YOURE NOT BUYING SOMEWHERE GHETTO AND YOUR PLACE IS WELL CONSTRUCTED.

[Cdn_Brdr]

^What he said.

As long as you can afford to ride out your mortgage during low times/interest rate increases you will almost never lose money on real estate.

[rawb]

LIKE IF YOU BUY A PLACE RIGHT NOW THAT GOES 20 GRAND UNDER WHAT YOU PAY FOR IT IN 3 YEARS, YOU STILL HAVE 3 YEARS OF EQUITY IN THAT HOUSE AND THE PRICE WILL PROBABLY GO UP AGAIN

IF YOU WAIT 3 YEARS AND RENT BEFORE BUYING THATS $24,000 -> $36,000 OF MONEY THAT GOES FUCKING NOWHERE, YOU'RE ALREADY 30K IN THE HOLE FOR THE TIME PERIOD, UNLESS YOU LIKE LIVE WITH YOUR MOM

[matéo]

do a few searches on here, theres lots of info.

if u're first time home buyer and have rrsps saved up, u can use rrsp savings as downpayment tax free

[M!SKA]

Regarding financing, we're working a mortgage broker instead of the bank, as per the recommendation of our realtor. I can let you know how it goes.

http://www.invis.ca/

[Ree Fresh]

Originally Posted by rawb

LIKE IF YOU BUY A PLACE RIGHT NOW THAT GOES 20 GRAND UNDER WHAT YOU PAY FOR IT IN 3 YEARS, YOU STILL HAVE 3 YEARS OF EQUITY IN THAT HOUSE AND THE PRICE WILL PROBABLY GO UP AGAIN

IF YOU WAIT 3 YEARS AND RENT BEFORE BUYING THATS $24,000 -> $36,000 OF MONEY THAT GOES FUCKING NOWHERE, YOU'RE ALREADY 30K IN THE HOLE FOR THE TIME PERIOD, UNLESS YOU LIKE LIVE WITH YOUR MOM

LONG TERM IS FINE, BUT FOR ME PERSONALLY AND A LOT OF YOUNG PPL WHO ARN'T MARRIED OR READY TO SETTLE DOWN FOR A LONG TIME THERES NO DEAL. NOT TO MENTION A YOUNG PERSON TRYING TO BUY IS INSANE RIGHT NOW, IF NOT NEAR IMPOSSIBLE. UNLESS YOUR MAKING SWEET DOE, HAVE GENEROUS PARENTS, OR A SWEET AMOUNT OF INHERITANCE. NOT TO MENTION NO STUDENT LOAN ALSO HELPS OR MAKES IT POSSIBLE.

I MUCH RATHER 'WASTE' $36,000 ON RENT AND WAIT FOR THE PRICES TO DROP. SINCE REAL STATE HAS JUMPED A NEAR 100-200% IN THE LAST FEW YEARS... YOULL SAVE A LOT MORE WAITING FOR IT TO EVEN DROP 50% OVER 3 YEARS OF RENT.