When it comes to buying your first home, a big part of that decision should be based on your current financial position and the impact a home loan will have on your finances and lifestyle. For many first-time homebuyers, saving what is required for a down payment can seem overwhelming. However, sometimes saving for a down payment is as simple as managing your budget differently. Start with a goal One of the best ways to save is to have a goal. It will keep you motivated and give you... [read more]

The home inspection is a critical component of the home-buying process. It also is one of the most common conditions made with buying offers. It is not unusual that a home inspection comes out with one or more issues that the inspector identifies on his report. The inspector might find a leak in the roof or a broken window that needs replacing. How do you deal with these issues? Should you pass on a property that you otherwise like? First of all, you should be clear on the realities of... [read more]

Buying your first home takes desire and commitment not only to navigate the complicated and time-consuming purchase process but also to make sure that you are ready to take up a homeowner's responsibility. Maybe you've dreamed about buying. Or perhaps you've researched homes for sale online or tried to calculate how much you can afford to spend or peeked inside a few open houses. But are you really ready, emotionally and financially, to step up your game and make your move? Here... [read more]

Many taxpayers overpay their taxes simply because they fail to claim some of the common deductions and credits they are entitled to. As a homeowner, there are several home tax deductions and credits that you can claim. Before you submit your next return, check the following list. It represents the most frequently overlooked tax breaks available to typical working Canadians. First-time home buyer’s tax credit If you are buying a home for the first time, you can claim a... [read more]