This is the second nugget the federal budget has proposed to help new homeowners / buyers. CMHC to help by lowering the amount required to be borrowed on a mortgage. This is for first-time buyers only.
What does it mean for future homeowners / buyers with this new budget that has been proposed for 2019? That’s right RRSPs for HBP – Homebuyer program got better.
What does it mean to buy “presale” or “pre-construction? Buying presale means entering a contract with a developer to buy a property before it’s been built. Typically you put down a deposit when you sign the presale contract. In return, the developer promises to build the property to the agreed-upon specifications, and by a certain date
Questions I get asked all the time: “is now a good time to buy real estate?” My answer is, it depends. First off you can’t time the markets, nobody can – just ask Ray. Has it happened before? Yes, most of it was probably luck and yes it has happened to me in the past.