BUYING A HOME
Buying a home is one of the biggest purchases of your life.
Hayter & Associates Inc. can help you acquire the money management
know-how to buy a house you can afford at every stage of your life.
Where do I start?
Start with your budget. Some home purchasing expenses are one-time, and some are ongoing – make sure that you know what you can afford before falling in love with that cute Victorian house on the corner. When planning your budget, make sure to factor in moving expenses (renting a truck, storage space, paying movers etc) as these expenses are often overlooked. The best place to start planning a home buying budget is by meeting with one of our staff who can help prioritize your wants and guide you through figuring out what you can actually afford vs. how much the banks will lend you.
How do I save for a down payment?
Our staff can help you create savings goals for this very large purchase. Typically homebuyers put 5, 10, or 20% of the purchase price as a down payment – to avoid paying CMHC insurance charges, 20% is required. Our knowledgeable staff can help you create a plan to save for your down payment and determine how much you need for your new home purchase. With simple and manageable tips from our staff, you’ll be confidently cruising real estate listings in no time.
Other financial considerations
While the down payment of your new home will likely be the biggest expense, there are many other financial considerations and decisions to make when buying a house. There are first time Home Buyers’ Plans, expenses you can claim on your tax return when moving, and deciphering what is actually a good mortgage rate can be complex. To help navigate these changing waters, get in touch with us to tailor all of the information to your specific needs. Not everyone needs or qualifies for all programs, so its’ important to know what does and does not apply to your situation.