Saturday, March 03, 2007

Not just any home - It's your FIRST home - HOUSING NEEDS AND UNDERSTANDING THE MARKET - 1st in a series of articles for first time buyers

It’s not just any home. It’s your first home.
Chances are you’ve gone through the floor plan of your first home a thousand times. You’ve mapped out where the area rug will go, what colour the guestroom will be and what flowers you’ll plant in the spring.
But before you fill out your change of address cards, the first thing you should do is talk to a Scotiabank mortgage specialist. We’ll talk to you about how you can:
• Achieve home ownership faster
• Pre-arrange your mortgage so you can find the right home at the right price
• Choose the mortgage solution that works best for you
• Reduce your total cost of borrowing and simplify your finances through the Scotia Total Equity™ Plan
• Pay off your mortgage sooner.

Because after all, buying a home is one of the biggest decisions you’ll ever make. And we want to help ensure it’s the right one.

Purchasing a home is an exciting journey. It involves making a lot of important decisions and employing many home-related professionals along the way. Information is key and preparation is essential to a successful transaction. First-time home buyers may find this guide useful in determining their needs and preparing for the home purchase process.

What are your housing needs?In deciding where you want to live, you will have to carefully consider the following:
• Location, (location, location)
• Proximity of Services
• Property value history
• Future development plans
• Type and style of home
• What you can afford

Determine in advance what is most important to you in relation to your short and long term goals. Review the home features you absolutely have to have and what you might do without. Use a worksheet to record all the details and impressions of each home you view to keep each home’s features distinct in your memory.

Understand the housing marketYour home is an important investment decision. You want it to increase in value as much as possible.
Look at the larger market conditions because the more you know the more control you have. Check out timely market information through the Canada Mortgage and Housing Corporation online at and research your locations through their Market Analysis Centre.
The internet is a tremendous source of information for all aspects of your home purchase – Scotia and other Bank sites, Builder sites, Real Estate Associations, Canadian Bankers Association, CMHC and Genworth Financial Canada just to name a few.

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829

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