An excellent time to buy a new home
Buying a new home is always a big decision that takes a lot of thought, no matter what the housing market is like. It is a significant commitment, both financially and personally, and you want to make sure you are making the right move.
If you have been thinking about a new home purchase, now may be the right time for you. Consider these factors:
Mortgage rates continue to be favourable
Home buyers will continue to benefit from the low cost of borrowing money for a home purchase, even though interest rates may increase modestly. Talk with your financial institution or a mortgage specialist about getting a mortgage that is just right for your needs.
New home builders offer great value. The housing market offers unparalleled benefits for new home buyers: new home quality and comfort, the latest technology, lower energy bills and more features — all at very competitive prices. This is an excellent time to invest in a new home.
Home purchasers have tremendous choice
Whether you are a first-time buyer, moving up or downsizing, and whether you prefer urban, suburban or rural living, the marketplace offers a wide selection of homes in many styles and price ranges, and within reasonable timeframes. It’s a great time to get the home you really want.
First-time home buyer initiatives
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Some purchasers may enjoy a little extra financial help from the federal government. First-time home buyers may be eligible for a federal tax benefit of up to $750 for costs associated with the purchase of a home. Further, under the Home Buyers’ Plan, you can now withdraw up to $25,000 from your RRSPS tax-free, or $50,000 for a couple.
“Green” mortgage insurance premium refund
Home buyers may be eligible for a refund of 10 per cent of the premium when they use mortgage loan insurance to finance the purchase of an energy-efficient home.
A home is a sound investment for the long term
Housing is a solid investment that performs well over time. Enjoy the financial security of homeownership — the time is right to start laying the foundation now.
Whether you are looking for your first home or the next, take a closer look at the new home builders in your community and find out what’s available. Contact a mortgage specialist to get pre-qualified for a mortgage — it doesn’t cost anything and you don’t have to accept the loan they offer you.
Come home to your future — this could be an excellent time for you to buy a new home. Contact the Regina and Region Home Builders’ Association for the names of professional new home builders in your community, or visit reginahomebuilders.com to find a member.
Source: Canadian Home Builders’ Association