For the Lakeside Leader
If you are renting, you may dream about owning a home of your own! A place to furnish, decorate as you like…to set down roots… to enjoy a great neighbourhood…to entertain friends & family. Are you really ready? Have you started saving? Have you been pre approved? Mortgage rates have already increased, but fortunately not dramatically at this point. Home ownership is still within reach as lenders have flexible down payment requirements and rates that are still fairly low. You may have many reasons for wanting to own your own home – You may be getting married, leaving your parent’s home, moving to a new job, or even downsizing. Whatever your reason, owning your own home can also be a good investment. There’s a sound financial reason to buy a home. Your home may be the single biggest investment you’ll ever make, one that could pay off significantly in the long run. The earlier you can redirect the money you currently pay in rent toward paying down a mortgage, the faster you’ll start building equity in your home! Although no one can predict where prices will be 25 years from now, the average price of a home in Canada has risen substantially in the past 25 years, making a home one of the best investments available today. Also there are tax advantages to purchasing a home! When you sell your principal residence for more than you paid for it, the increase in value, known as capital gains, is yours tax-free. At the end of the day, one of the biggest considerations isn’t the market, mortgage rates or investment value, but rather your own desire to enjoy the comfort and privacy of owning your own home. In other words, the best time to stop renting and start owning is when you are ready! For more information about purchasing a home or renting out your current home, call your favorite Realtor™ at Royal LePage Progressive Realty at 780-805-3111, visit our website at www.Royallepageslavelake.com or drop by our kiosk next time you are at the MRC!