The Canada Mortgage and Housing Corporation released the results of its annual Mortgage Consumer Survey, providing insights on the behaviour, attitudes, and expectations of Canadians who are acquiring, renewing, and refinancing a mortgage.
Saving a sufficient down payment is tough enough on its own and when coupled with rising interest rates and tough qualification rules – which includes a mortgage stress test– affording a home becomes very difficult for some.
If you’re a first-time buyer and your occupancy is quickly approaching, a whole series of things you’ve never had to deal with before are about to happen. There may be some stuff you don’t understand, and some of it can actually get confusing.
If you’ve purchased a new construction home before, then you’ve likely participated in a pre-delivery inspection. If you’re a first-time buyer about to schedule your PDI, then you need a quick rundown on what to do and what to look for.
Going through the homebuying process for the first time can be intimidating. There are many steps, a lot of paperwork, lawyers get involved, and you’re making deals with hundreds of thousands of dollars.
When you buy a new home, you sign an Agreement of Purchase and Sale. Among many other details and stipulations, there is usually a section regarding potential changes being made by the builder or developer without notice or permission from the purchaser.