Buy Your Home
If you're thinking about buying a home, you're probably pretty excited about the idea of home ownership. It can be easy to focus on how your new home will look and feel, but you also need to carefully assess your needs and resources. At Duvanco, we want to help you make the purchase decision that's right for you.
Canada Mortgage and Housing Corporation (CMHC) is an excellent resource whether you're a first-time buyer or moving up to a new home. We recommend looking through their Homebuying Step by Step guide.
Note: Links will open in a new window
What can you afford?
Peace of mind starts with knowing that you can cover your mortgage payments along with your other current and future commitments. Look at your current income and expenses and what you have available for a down payment to figure out the size of mortgage you can afford. Remember to leave room for changes in interest rates and unexpected expenses.
Use the CMHC Housing Calculator
How much home do you need?
Are you planning a family or have another child on the way? Does your lifestyle include entertaining large groups of friends and family? What other financial goals do you have? These are all questions to consider when deciding on the number of floors and bedrooms and amount of outdoor space you need. Here's a tip: Duvanco homes often feel larger than their square footage because of our efficient layouts.
How will you finance your new home?
It's a good idea to discuss your plans with a lender before you go further to ensure you'll qualify for a mortgage. All of Canada's major banks and many credit unions offer home mortgages at competitive rates of interest. You might also choose to speak with a mortgage broker who works on your behalf to find the right lender.
Where should you buy?
Your choice of community is dependent on your needs and lifestyle, whether or not you have children, your financial situation and much more. Only you will know when you have found the right combination of proximity to amenities, home size, neighbourhood 'feel' and cost that fits you best. Duvanco Homes has properties for every lifestyle and phase of life—for couples, families of all sizes and empty-nesters too. Visit our communities.
See HGTV's guide 'How to Choose a Neighbourhood'