Perhaps you, like many, dream of a bigger and better, upgraded home. A home with more square footage. A home with newer finishes. This home could mean the realization of a longstanding dream. After all, traditionally, bigger is better. Or, having a larger property could simply mean that you finally have enough space to suit your family and lifestyle. However, there are some things you should know before upgrading to a larger home.
The federal government has recently made changes to mortgage rules with the intention of making sure Canadian home buyers don't take on mortgages they can't afford. These additions also aim to fix issues associated with international home buyers who buy and resell Canadian properties. Take a look below for a summary of these changes, and what they could mean for you.
When you’re finally ready to upgrade your home, it’s tempting to go a little crazy. After all, you’re spending money to build the home of your dreams, so why shouldn’t you add all of the little extras you’ve always wanted? The downside is that those upgrades cost extra money. So, when calculating your next home purchase, you may want to think about how badly you really want (or need) the extras.
Banks approve you for a mortgage based on a combination of your income and your debt. In some cases, that upper limit is not quite as affordable when you factor in all of the other expenses your family has. Consider all of the reasons why it might be beneficial to stay below the budget set by the bank.
Whether or not to upgrade your home is a big decision. Many people are taught from a young age to make do with what they have, but in terms of housing, this mindset doesn't always work. It's hard to cram an extra child into a two bedroom home or be satisfied with only a small garden space if you have a green thumb. Sometimes the most practical option is to upgrade to a larger home that better suits your lifestyle. Explore these seven reasons to consider expanding into a new home.
After shuffling the last piece of furniture into your brand new home, it might seem like the toughest part of moving is behind you. While that may be true, there are still things you'll have to do in order to settle in properly after your move.
Ideally, tasks like transferring your utility services over to your new home, filling out change of address forms at the post office, and reviewing any HOA rules your house is subject to have already been taken care of before the move. Below is a list of nine tips to follow once you've moved in so you and your family can truly feel at home in your new surroundings.
