RENTING VS OWNING

By
Real Estate Agent with Century 21 Advantage

This is for all the renters out there. Tired of paying someone else's mortgage? Yes buying a house is scary and expensive. But with the new mortgages that are being offered from Canadian lending institutions renting is no longer neccesary. 0% down payments. 40 year mortgages. These are all possible. People with shaky or no credit can get a mortgage under the right situations. The benefit of home ownership is pride. That first morning when you wake up in YOUR home is great. Nobody can tell me anything. I can paint my livingroom purple today. Whatever you want. Once you are over the emotional feeling and living in your home you will see the appreciation starting to happen. House values usually rise. After paying your payments for a few years you will start to see something amazing happen. That mortgage starts to lower and you actually paid off some of your mortgage. So your mortgage amount drops and your house value goes up! Your house is worth more and you owe less.
Plus - Noboby can tell you what to do! This is my house! Great times!!! Yes it is but with home ownership comes responsibilities. You are responsible for actions that occur on that property, there are taxes that need to be paid, grass that needs to be cut, power bills, insurances and home repairs. I recommend everybody own their own house. Renting is ok in the short term but ownership is best. Its yours.
The first step is a mortgage broker, I recommend a broker who I have been working with for the past few years. Heidi Dandurand is great at getting mortgages that are tough, when some brokers quit and give up Heidi keeps going. Heidi is simply the best I have seen. Her email is hid@shaw.ca . Heidi works for Invis which is a national Mortgage Brokerage that deals with almost every major banks and secondary lenders. Drop Heidi an email, she will be happy to work with you. Heidi will search every possible lending institution to get you the best possible mortgage for you. Mortgages are as unique as houses and Heidi is great at getting you something that works for you.
While talking to Heidi you will also need to know what that mortgage is going to get you. When Heidi tells you what you can be approved for we sit at the computer and see whats available. My recommendation - Spend less than your maximum approved amount. With home ownership there are always unforseen expenses. Spend less - longer mortgage - keep your payments lower. Buying is scary but so is not buying. Call me today to start the process.

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Ken Devoe

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