Competition = Low Mortgage Rates

Things to Consider When Building a Brand New Home

If you decide to build a brand new home instead of purchasing a re-sale, it is extremely important to carefully assess the following pros and cons before purchasing:

• You are the first occupant meaning no one else has lived in the home
• You get to decorate as you wish by selecting your colors, design features, and other various upgrades
• You are protected from construction deficiencies by Provincial Law

• The area is not established and is often still under construction causing excess traffic, noise, dust, etc.
• Landscaping, driveway paving, and other finishing touches might take extended periods of time to have completed due to other construction in the area
• The timely completion and occupancy of your new home can be delayed for any number of builder related reasons
• There are some closing costs that apply to new homes

Canadian Mortgage Info Online

CanEquity.com has recently launched its Canadian Mortgage Statistics website providing a unique source for mortgage brokers and mortgage seekers to learn about Internet mortgage trends.

These statistics were compiled using over 20,000 surveys, plus data collected over a span of five years.

Over one thousand pages of cities and towns have been developed with data ranging from average loans to peak hours for mortgage inquires through a 24-hour day.

Some of the highlights you will find are:

• Average ages, martial and residential status for Internet mortgage inquires.
• Interactive flash interface allowing you to plot national and provincial mortgage originations, average incomes, and loan amounts.
• Data displaying year-to-year, month-to-month and day-to-day Internet volume comparisons with complete charts and graphs.
• Tables displaying provincial and national mortgage volume rankings of cities and towns throughout Canada.

These statistics are anonymous and contain no personal information, and cannot be used to gather such information; therefore this information may be used freely for educational or non-commercial use.

Deciding what you Want in a New Home

It is important to clearly define what is important to you and your family to have in a new home. Most people focus on how much they can afford to spend, but there are other things to also consider.

Before shopping for that new home, write down a list of things you would like to have in your new home and divide them by essential items and nice-to-have items.

Ask yourself questions such as:

• What area of the city is desirable?
• What style of home is preferred?
• How many bedrooms are required?
• What amenities are in the area?
• Is a garage important?