Real Estate Blog - first time home buyer

Buying a Home You Can Afford Without Feeling House Poor

One of the most common questions buyers ask is, “How much can I afford?” While your mortgage broker can tell you the maximum amount you qualify for, that number doesn’t always reflect what will feel comfortable in your day-to-day life.

Just because you can qualify for a certain purchase price doesn’t mean you should spend it.

Your Mortgage Should Match Your Lifestyle

A mortgage approval is based on income, debt ratios, and lending guidelines—but it doesn’t account for how you actually live. Your home budget should support your lifestyle, not restrict it.

If you spend most of your time at home, don’t travel often, and don’t have expensive hobbies, buying closer to your maximum approval may be reasonable. However, if you love to travel, plan to…

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5 Strategies to Save for a Down Payment Quicker

With the average home in Saskatoon being around $350,000, saving for a down payment can seem like quite the mountain to climb! With a minimum of 5% required, that means you’ll need an average of at least $17,500 to get started—you could buy a brand new car for that! So, where do you begin?

If you’re thinking about buying a home, here are some simple strategies to help you save up for your down payment quicker:

Use Your Auto-Savings

If you’ve never used an auto-savings program before, saving for a down payment is the perfect time to start! Depending on your bank, there may be a couple different options for auto-saving, including:

Automatic Scheduled Transfers - These are scheduled fund transfers that you can put into place to automatically…

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The First Time Home Buyer Incentive: What It Is & How To Get It

If you are purchasing a home for the first time, the role of “First Time Home Buyer” can come with a lot of questions. Do I need a real estate agent? Where can I find a real estate lawyer? How much does it actually cost? And, of course, how do I get a mortgage? 

Understandably, with all of these questions—and more!—swimming around in your mind, it can be easy to begin feeling overwhelmed. Luckily, that’s where a REALTOR® can help! We work in the realm of Saskatoon real estate each and every day, making us more than familiar with every question you can think of. Plus, we come with some other handy and even helpful information that can help you along the way—including the First Time Home Buyer Incentive.

What is the First Time Home Buyer…

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Mortgage Insurance vs. Life Insurance

Mortgage Insurance or Life Insurance?

For many Canadians buying a home is the single largest investment in their lifetime.

You’re excited and stressed – not only because of the financial commitment, but because it’s about a place and a community that you have set your heart on.  It is during this emotional time you will meet with a lender to arrange the mortgage and you will also be asked to purchase Mortgage Insurance. If you’re like many people, you may have overlooked insurance in the home buying process.

Buying a home is an exciting time! Buy ensure you are making an informed decisions about protecting your investment, and your future. So what is the difference between Mortgage Insurance and Life Insurance?

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