There is no doubt that selling your home can be a stress filled time. Thinking about packing up all of your stuff, finding a new school for the children, leaving the familiarity of your street are all concerns that can cause families to stress about moving. Coming up with a moving strategy is an effective way to stay organized and on track.

Embrace the Stress, Manage the Stress

Moving will be stressful so go into the moving process realizing that life will be ab-normal. Embrace the change in your life and try to keep upbeat in the move process. You are about to embark on a new journey into a new home, remember, to make good memories and take everything in stride. Create to-do checklists and stay on track with deadlines.

What Can You Buy on Your Budget?

Your income and savings play a pivotal factor in your down payment of your first home. The Average detached home in Vaughan and Woodbridge is approximately $500,000, a 20% down payment is $100,000. That takes a savvy saver to get there, but there is hope.

Everyone wants to put down that 20% down payment but with house prices on the rise it can be difficult. The good news is you do not have to put your home purchase on hold. You and your family can qualify for your mortgage and put down only 5%, but it does come with stipulations.
Most Banks will ask for a stable work history and a strong credit score to qualify.

Sometimes less is more. In putting down a lower down payment families are able to invest more in RRSPs and have that liquid fund to put towards their children’s education or improvements in their home, helping to increase its value in the long term.
Having only a 5% down payment will however force home owners to purchase CMHC insurance.

I can help you make that informed decision, give me a call and I will be happy to guide you through the home buying process.

Sincerely Lino.