Six Ways To Make Sure You Buy The Right house

By Mark Weisleder | Fri Sep 30 2011

A year ago I wrote the most common mistake home buyers make is buying with their heart instead of their head — usually because they panic while involved in a stressful negotiation for which they are unprepared.

The result is that buyers pay more than they should, or are disappointed later when they find defects in the home or discover the neighbourhood isn’t quite what they thought.

So, here’s an updated list of six ways to prepare yourself:

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4 homeowning lies we tell ourselves

September 19, 2011
By Krystal Yee


Here are four lies we often tell ourselves to justify home ownership:

The bank wouldn’t lend me that mortgage if they didn’t think I could afford it: Unfortunately, the bank isn’t your friend. They are in the business of making money for their shareholders. They are perfectly willing to lend you more than you should borrow. Why? Well, because you’ll likely cut out your retirement savings, vacations, and that new car you’ve been wanting, rather than default on your mortgage. And the bigger the mortgage, the bigger your interest payments to the bank.

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Mortgage Rates Remain Low

Several economic indicators unveiled last week continue to demonstrate our economy is not experiencing the rebound that was expected....Jobless data revealed last week surprised the market....being quite a bit weaker than the forecast.

Earlier in the week, Bank of Canada Governor, Mark Carney provided an update and outlook from his perspective, leaving many economists confident that we will not see the Central Bank Rate rise until some time next year. The rate continues to hold steady at 1% with Prime at 3%. In light of data released on Friday, some economists are optimistically predicting a decrease in this key benchmark rate before the end of this year.

Could this be the norm moving forward???

On the mortgage side, rates remain LOW.... 5 year fixed mortgages at 3.59%.....Variable closed is at 2.35%