First Time Buyers

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Dianna Mandzuk

●Sales Representative

● RE/Max Circle of Legends Award recipient (2010) - RE/Max's Highest Honour for Sales Achievement

● Lifetime Achievement Award recipient

● RE/Max Hall of Fame Award recipient

●Certified Luxury Home

Marketing Specialist

●Canadian Staging Professional

RE/Max Jazz Inc., Brokerage

Professional Offices located at

203 Bond St. E.,

Oshawa, Ontario. L1G 1B4

Direct: 905-433-2579

Office: 905-728-1600

email Dianna Mandzuk

Finding The Home That’s Right For You

This year, Ontario consumers can count themselves lucky in one important respect: they are living in a time that offers unequalled opportunities to realize the dream of home ownership.

Interest rates are among the lowest in decades and the availability of housing of all varieties is at the highest level in years.

In face, in many situations, renting a family dwelling can actually be more expensive than buying. Compared to the expense of renting a three bedroom apartment or townhouse in many urban centres, it’s easy to see that buying a home has become an attractive alternative.

There is another important benefit to home ownership that often gets overlooked. Over the course of 25 years (the usual amortization period for mortgages), the total amount of money paid by many renters can actually exceed the amount paid by a home owner. This is due not only to the fact that mortgage payments can be cheaper than rent, but because rental fees generally increase over the long term. Of course, the interest rates may also rise, but so probably will the value of the property. Therefore, additional equity will be gained.

Add to this the reality that after a mortgage is paid off, home owners will no longer make monthly payments while renters will continue to bear the burden for the rest of their lives. This savings can greatly impact the quality of life upon retirement.

The fact remains that money spent on rent is still money down the drain.

Regardless of the number crunching, the bottom line is that owning a house is the best way to ensure the happiness and well-being of you and your family. A home gives a family room to grow, and room to prosper.

The best childhood memories many of us hold include Sunday dinners in the family dining room, retreating to the rec room when friends visit, or skating on the backyard rink throughout the cold winter months.

If you’ve made the decision to buy, the first person you should talk to is a Realtor. These real estate professionals will help you with virtually every aspect of your home ownership requirements, to giving advice on what you can afford, a Realtor can cut through the complexities.

Constructing a “buying blueprint” is a critical step for first time buyers. In it, you will list items such as: how many bedrooms do you really need; is a finished basement a necessity or can you afford to wait; how big a yard do you need; and most importantly, where do you want to live? All these considerations will affect your ability to buy.

For example, many first time buyers will forego a property close to the downtown core in favour of a suburban or even rural home. This can lead to huge savings which can be used to either lower the mortgage and monthly payments, or to acquire a bigger home for the same cost.

Opting for a townhouse or resale home are other alternatives that can help first-time buyers escape the “rent trap” and channel their funds into a solid investment.

When you’ve narrowed your requirements, a Realtor will scout properties for you and make recommendations on homes that suit your needs. Once you begin viewing, your Realtor will accompany you, offering advice on matters such as amenities of the neighbourhood, repairs or upgrades that could be necessary, building inspections, carrying costs and so forth.

So, if you’re one of the thousands of Ontario families caught in the cycle of paying rent and seeing nothing in return, now is the time to make a move! Buying a home can pay off in so many ways - - you simply can’t afford to pass up the opportunity.

Call a member of The Dianna Mandzuk Team today, we can help make your home ownership dreams a reality! 905-433-2579

NOT INTENDED TO SOLICIT PROPERTIES ALREADY LISTED NOR BUYERS SIGNED UNDER A BUYER'S AGENCY AGREEMENT. E. & O.E.

The information contained herein is believed to be accurate, but should not be relied upon without verification.

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