The cost of living in Toronto has gone up and the housing sector is one of the main factors.
Is no news now that the prices of residential properties are very high, so it has been hard for many families to be able to purchase a new home, whether the income is not enough or the credit score has gone down and the savings are not enough, at the end of the day lack of affordability remains the obstacle.
The above drives many families to give up the plan of purchasing a home for the time being, and choose to continue renting, however, that is also changing now, and one of the reasons for that is the high cost of renting with fewer renting options.
The rents are so high that most of the time the monthly payments are equal or even higher than those monthly payments of a Mortgage.
We are sensing a stronger commitment given to the home purchase plans, perhaps driven by the views that the monthly payments are about the same, but the value of owning a home is far greater.
Since a few years ago, I have been making mortgage assessments for many of my clients and offering an alternative plan of home purchase to those who were not in a position to purchase their residence at that time. This year I am proud to experience together with my clients that the plan made for them in the past are coming to mature and even when the home prices have gone up, they will be in a home purchase position.
Having a mortgage assessment done for you is a great first step towards purchasing a home, this practice will lead to a plan to purchase the home immediately or in the future, but it will lead you to become a homeowner.
Good or bad credit, enough or not enough downpayment do not matter at the moment, the plan will tell us how and when you can purchase your home
Press the button below to request your free mortgage assessment to be done now and avoid stronger wealth and financial disappointments in the future