Canadian Money Forum banner

1 - 2 of 2 Posts

·
Registered
Joined
·
34 Posts
Discussion Starter #1
I plan on buying my first home sometime in 2021, I am preparing for a RSP 5% down deposit and would like to learn about the whole process 1 year in advance so i'll be prepared, what book/ebook or guide do any of you recommend for the entire process? I prefer something made for canadians and recent please, thanks
 

·
Registered
Joined
·
12 Posts
You may want to research on these:
1. If you down less than 20%, you are required to a mortgage insurance.
2. You are entitled to the land transfer tax refund for the first time homebuyers, both provincial and municipal.
3. If you are buying a newly built house or condo, you are entitled to the new housing rebate, both provincial and municipal.
4. You can withdraw RRSP as a Home Buyers Plan.
5. Location matters in terms of value appreciation.
6. For mortgage payments, paying every two weeks has a better compounding effect.
7. If you are looking for a rental income, a location near colleges is always good. Kingston and Waterloo are fast-growing cities.

** This is based on Ontario.
 
1 - 2 of 2 Posts
Top