The new decade is right around the corner. For many, the dream of homeownership is one they’d like realized in the near future. That’s why we’re sharing a few New Year’s resolutions you should make and keep so you can buy a new home!
KPMG recently shared the results of its Millennials and Retirement poll, focusing on the homeownership concerns young Canadians have, and they’ve now released some results pertaining to concerns about retirement.
According to the latest data from the Canadian Real Estate Association, the average residential home will now set prospective home buyers back $525,000, though affordability challenges are much more acute in the nation’s priciest markets.
Nearly all Canadians believe the average household is in too much debt, and it looks like everyone is right. The results of the Manulife Bank Debt Survey shows that 40% of indebted Canadians do not expect to escape their debt in their lifetimes.
You got your pre-approval, you picked out your first home at a builder’s sales centre, and now it’s time to get your mortgage. No big deal right? Think again. Depending on your financial situation and employment, it could be a challenge.