Are you thinking about finding your next home? It can be tricky balancing what
you want with what you can practically afford. Here are some tips that can
make buying your dream home more doable:
1. Save for a larger down payment. A larger down payment can lower
your monthly mortgage costs and possibly help you get a better interest
rate.
2. Look at neighbourhoods that are less “in demand.” Some areas
have the reputation of being desirable or exclusive and – as a result –
expensive. But, there may be neighbourhoods that are not as indemand
and yet ideal (and more affordable) for you. Explore that
possibility.
3. Consider a fixer-upper. A home that needs some work may be more
affordable, and you can save money by doing some of the renovations
yourself.
4. Think about buying a smaller home. A smaller property can be more
affordable and easier to maintain, especially if you’re downsizing.
5. Research mortgage options. Shop around for the best mortgage rates
and consider different types of mortgages. A better mortgage rate and
terms may make an out-of-reach home affordable for you.
Any of these tips will help increase the probability that you’ll be able to buy
your dream home at a price that works for you.
Team Davidson, Ghada and Sean
Sales Representatives
KELLER WILLIAMS Real Estate Associates, Brokerage *
- Mobile:
- 416-523-4435
- Office:
- (905) 812-8123
- Email Me