I Want To Become A Homeowner
Becoming a homeowner may feel impossible, but you can accomplish your dreams with the proper planning. On average, our clients are ready to buy their first property within three years. If you have nothing saved, a little saved, or don't know where you are in the process, we can help.
Worried you will not own a home?
Many Canadians believe that the possibility of becoming a homeowner is impossible for them. WE ARE HERE TO TELL YOU THAT YOU ARE WRONG. With financial coaching and planning, we can help you save for your down payment faster, know how much you will be approved for, and create an efficient strategy for owning a condo, house, or multi-family home.
How We Help You Become a HomeownerCanadian individuals and even families can plan for homeownership using several strategies to manage their cost of living and save using the proper accounts while paying down debt.
A Personal Approach and Coach
Helping you become a homeowner is personal. Canadians feel overwhelmed with the prospect of buying their first house or condo - and we are here to ease your stress and tell you it is possible. Our unbiased coaching will help you set up the proper accounts at the right institution, manage your debt and savings, prepare for closing costs, and understand the value of becoming a homeowner.
How Much Can You Afford?
When planning on buying your first house, you need to know how much you can afford in the future. This is essential to know how much to save and when you can purchase. Therefore, we will project your income and use projected interest rates, market conditions, and lifestyle changes to determine when you can expect to be a homeowner. Although these variables will change over the course of planning, we will be alongside you all of the way.
Creating a Personal Budget
The reality is that most Canadians do not have a personal budget; we will work with you to create your budget. This is important for two reasons. First, to review where you can save money by making simple changes, and secondly, we can project your future lifestyle when becoming a homeowner. Although all planners and advisors should be looking at your debt ratios, we want to show you what you really can afford - not just a generic metric.
Balance Repaying Debt and Saving
When planning to buy your first house, the most common mistake is focusing on debt. Although this is counterintuitive to most, it will cost you long-term. Therefore, it is crucial to have a strategic approach to paying off certain debts, while saving for your first house. This part of the plan is unique to you, as everyone's debt, income, and savings ability are different.
Our "I Want To Be A Homeowner" Package Includes:
Included are four appointments where we will do a complete review of your banking, debt, and investments, build and review your budget, create a strategy to become a homeowner, balance any other life goals, and provide a comprehensive financial plan. There is also a free annual follow-up to adjust for lifestyle changes, market conditions, and regulation changes.
How to pay down debt and save for your closing costs
How to maximize your purchasing power
Building a personal budget and cash flow analysis
A complete financial review and planning document to ensure other goals are not jeopardized
How to use government accounts and programs for buying your home
Helping you make an informed decision on the type of mortgage you need
How and when to save then withdraw from RRSPs, TFSAs, TFFHBSAs and other investments when buying your home
After all, homeownership should be attainable for all Canadians and you can start today from your own home. We proudly provide financial advisory services for individuals in Toronto, Ottawa, Halifax, Moncton, Calgary, Vancouver, and all across Canada.