Extra Money

Extra Money?

No shopping, no restaurants, no entertainment, stay home order. Have you saved money? 

This could help you when wanting to buy a home and qualifying for a mortgage. You could put more money down to reduce your monthly payments or reduce the amortization time. So waiting for another couple of month seems to be a great idea, or is it? 

The Toronto Real Estate market is very active right now,  the purchase prices are on the rise. There are fewer home on the market. Supply and demand principle: fewer homes for sale - prices will go up.  What you may have saved for a larger downpayment you may need to pay extra now when buying your home, since the home prices are going up. 

What to do? Wait and safe or buy now? Looking at all the stats and information available, it does not look like the prices of detached homes, semis, or townhouses will decline in the near future.

Saving money is always a good idea, even when already in your new home. Make sure your mortgage contract allows you to repay a lump sum once a year to reduce the principle. 

As in any situation there are pros and cons. Look at your must-haves and love-to-haves for your future home, your finical situation, the real estate market and talk to your trusted Realtor to get answers. 

For insights on real estate issues contact: 

Martina or Rosti Brankovsky - they love to hear from you ❤️ - call, text, email. 

 * Martina & ** Rosti Brankovsky mbrankovsky@hotmail.com or 647-297-9700

Martina and Rosti Brankovsky

EXCELLENCE / EXPERIENCE / SERVICE

647-297-9700