There’s no denying that Canadians value the concept of home ownership, in spite of the bubble rumours, speculation and even in light of COVID-19. The housing market has remained resilient, as evidenced by recent record-breaking Canadian housing real estate activity.
Home ownership is a way to plant roots, create family security and build future wealth. In fact, it’s how many of the world’s richest people earned their fortunes, and it’s how many “regular Joes” finance their retirement or build generational wealth. But home ownership is not for everyone.
Ultimately, buying a home is a very personal decision that depends on a number of factors, such as your financial fitness, your future plans and your overall comfort level. The good news is, professional real estate agents, mortgage brokers and real estate lawyers are there to advise you before you dive in. To help get you thinking about whether home ownership is right for you, are are some important things to consider.