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Stories Tagged - Home Buyers Plan
News
April 28, 2022 | CREB
Five tips for first-time homebuyers
For most of us, buying a home will be the biggest purchasing decision we make in our lifetime. Adding to the weight of that decision is going through it the first time.
News
July 23, 2021 | Mario Toneguzzi
My First Home: Hyder Hassan, Immigrant Services Calgary CEO
To this day, whenever Hyder Hassan comes across a Subaru WRX STI sedan, he's reminded of the very first home he ever purchased.
News
Aug. 02, 2017 | Natalie Noble
Don't delay, start saving
Putting together your first down payment is all about planning and prioritizing
With changes to mortgage regulations and the Bank of Canada's qualifying rates, buying a first home might be tougher than expected, especially for those already carrying a large amount of debt. Currently, the total cost of a mortgage payment, property tax and utilities must be less than 40 per cent of a borrower's gross income.
"The debt ratio makes a big difference to your purchasing power when buying a home," said Calgary mortgage broker Monika Hägele. "Some people might work really hard, save up five per cent towards their desired home, and then that amount might not even be enough if they are carrying too much debt."
With changes to mortgage regulations and the Bank of Canada's qualifying rates, buying a first home might be tougher than expected, especially for those already carrying a large amount of debt. Currently, the total cost of a mortgage payment, property tax and utilities must be less than 40 per cent of a borrower's gross income.
"The debt ratio makes a big difference to your purchasing power when buying a home," said Calgary mortgage broker Monika Hägele. "Some people might work really hard, save up five per cent towards their desired home, and then that amount might not even be enough if they are carrying too much debt."
News
Aug. 02, 2017 | Kathleen Renne
Generational divide
The complicated relationship between millennials and the housing market
When Juliet Burgess, 29, bought her 110-year-old home in Inglewood for the above-list price of $350,000, she says she became the first among her circle of millennial friends to become a homeowner.
"I personally don't know anyone in my age group who owns property," said Burgess, who works in the not-for-profit sector. "We're super lucky to be able to afford to buy.
"I've been saving my whole life, since I was 14. Even with that, my partner's savings and our parents giving us a little bit, we could only put down the minimum for a down payment."
When Juliet Burgess, 29, bought her 110-year-old home in Inglewood for the above-list price of $350,000, she says she became the first among her circle of millennial friends to become a homeowner.
"I personally don't know anyone in my age group who owns property," said Burgess, who works in the not-for-profit sector. "We're super lucky to be able to afford to buy.
"I've been saving my whole life, since I was 14. Even with that, my partner's savings and our parents giving us a little bit, we could only put down the minimum for a down payment."
News
Aug. 02, 2017 | CREBNow
Don't delay, start saving
Putting together your first down payment is all about planning and prioritizing
With changes to mortgage regulations and the Bank of Canada's qualifying rates, buying a first home might be tougher than expected, especially for those already carrying a large amount of debt. Currently, the total cost of a mortgage payment, property tax and utilities must be less than 40 per cent of a borrower's gross income.
"The debt ratio makes a big difference to your purchasing power when buying a home," said Calgary mortgage broker Monika Hägele. "Some people might work really hard, save up five per cent towards their desired home, and then that amount might not even be enough if they are carrying too much debt."
With changes to mortgage regulations and the Bank of Canada's qualifying rates, buying a first home might be tougher than expected, especially for those already carrying a large amount of debt. Currently, the total cost of a mortgage payment, property tax and utilities must be less than 40 per cent of a borrower's gross income.
"The debt ratio makes a big difference to your purchasing power when buying a home," said Calgary mortgage broker Monika Hägele. "Some people might work really hard, save up five per cent towards their desired home, and then that amount might not even be enough if they are carrying too much debt."
