IS HOME BUYING RIGHT FOR YOU – STEP-1

Is Homeownership Right for You?

BY:CANADA MORTGAGE
AND HOUSING CORPORATION

  • Step 1: Is Home-ownership Right for You?
    Buying a home is one of the biggest emotional and financial decisions you’ll ever make. Prepare by learning about the process of home buying and the responsibilities of home-ownership.Before moving forward, though, here are some questions to consider.

    • Do you have the necessary financial management skills?
    • How financially stable are you?
    • Are you ready to take on the responsibility of all the costs involved in homeownership, including mortgage payments, repairs, and maintenance?
    • Are you able to devote the time required for home maintenance?

    There are pros and cons for both renting and buying. Everyone must make his or her own best decision. Buying a home is not for everyone. Take a moment to think through the advantages and disadvantages of both owning and renting.

    Think carefully. Are the advantages of owning your home really bigger than the advantages of renting? Are the disadvantages of owning your own home really smaller than the disadvantages of renting?If homeownership is for you, you must be both financially and emotionally ready. Buying a home isn’t only about money. You should listen to your heart… and take an honest look at your lifestyle.