Amrish Prasher Real Estate


Finding Your Dream Home

The Nuances of Purchasing

Buying a home can be challenging whether or not you are a first-timer. After all, there are so many steps, tasks, and requirements, and you may be anxious about making an expensive mistake. But first-time homebuyers do enjoy some special advantages created to encourage new entrants into the real estate market. There are several things to consider such as:

You need to be prepared for both the purchase and the ongoing expenses of a home. According to Canada Mortgage and Housing Corporation (CMHC), your monthly housing costs should not be more than about 35% of your gross monthly income. This includes costs such as mortgage payments and utilities. Your entire monthly debt load should not be more than 42% of your gross monthly income. This includes your mortgage payments and all your other debts.

You have a number of options when purchasing a residential property: a traditional single-family home, a duplex, a townhouse, a condominium, a co-operative, or a multifamily building with two to four units. Each option has its pros and cons, depending on your homeownership goals, so you need to decide which type of property will help you reach those goals.

Most people need to borrow money to buy a home. You also need to put some of your own money into the purchase. A mortgage is likely the biggest loan you get in your lifetime. Mortgages have different features to meet different needs. It’s important that you understand the options and features. The Government of Canada also offers two tax credits for specific types of homebuyers.

How I can Help

A savvy realtor who works for you can protect your interests and guide you through the buying process - from negotiating a price to navigating home inspections. This is where I come in. My domain expertise will take away all your stress and worries. I will answer questions and address all your concerns. This includes utilizing all the benefits that you are entitled to and securing the best mortgage rates. I will help you find the house of your dreams while ensuring that you make a financially correct decision.

Brampton • Mississauga • Toronto • York • Oakville • Burlington • Milton • Etobicoke

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© 2021 All rights reserved. Toronto Real Estate Board (TREB) assumes no responsibility for the accuracy of any information shown. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Amrish Prashar | Sales Person | CENTURY 21 LEGACY LTD., BROKERAGE Independently Owned & Operated

7461 Pacific Cir, Mississauga, ON L5T 2A4 | 905-672-2200


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