Homebuyer's School

In this episode of Homebuyer's School, we talk with Mujtaba Syed, Mortgage Specialist with the Bank of Montreal, and discuss using your RRSP to buy a home, how much can you take out, and when can you do it. We also explore how/when you need to repay your RRSP, if you could use your RRSP to buy a second home and if you could use your RRSP more than once. 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/can-you-use-your-rrsp-to-buy-a-home

 We discuss the following items: 

• Using your RRSP to buy a home
• How much can you take from your RRSP?
• Can you use your RRSP to buy a second home?
• How do you repay your RRSP?
• How many times can you use your RRSP for home buying?
• What are the advantages of using your RRSP for a down payment?

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca

Wondering what type of home you should buy/invest - duplex or single-family home? What are the differences? In this episode, we talk with Jessica McNabb, Area Manager with Brookfield Residential and discuss whether a duplex or a single family home is right for you. We explore the cost and home value as well as why it seems builders are currently focused on building duplexes. 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/duplex-vs.-single-family-home-whats-the-difference-and-which-one-should-i-invest-in

 We discuss the following items: 

• Difference between a duplex and single-family home?
• What's the cost difference and future home value? Which is worth more?
• Are builders moving towards building more duplexes?

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca

Applying for a mortgage? Can't meet all the financial requirements? In this episode, we discuss how a mortgage cosigner can help and when to use one. We also explore if there are limits to how many cosigners a mortgage can carry as well as the financial/credit impacts to the cosigner. Finally, we look at how to get a cosigner off your mortgage and if you need to go through another approval process. 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/what-are-the-mortgage-cosigner-requirements-in-canada

 We discuss the following items: 

• How does a mortgage cosigner work and when to use them
• Are there limits to the number of cosigners on your mortgage?
• Financial/credit impacts to a cosigner
• Are a cosigner and coborrower the same thing?
• What if a cosigner has bad credit?
• How do you get a cosigner off your mortgage?
  • Do you need to go through another mortgage approval if you do?

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca

If you are buying a home for the first time which one is better for you, a condo or a house? What are the differences? What are the key things to know to make the right decision for you? In this episode, we talk with Jessica McNabb, Area Manager with Brookfield Residential, and discuss if you should buy a condo or house and which is a better first home. We explore price differences, appreciation value and which has a lower property tax. 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/whats-the-difference-between-buying-a-condo-or-house

 We discuss the following items: 

• Should I buy a house or condo?
• Which one is a good first home? 
• Which is more expensive? What's the appreciation value?
• Which one has a lower property tax?

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca

In the 2019 federal budget, the First Time Home Buyer Incentive was announced. How does it work? Can it really make home buying affordable for first time home buyers? In this episode, we discuss the key elements of the First Time Home Buyer Incentive, impact on the mortgage stress test and who can qualify. 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/first-time-home-buyer-incentive-can-you-now-afford-to-buy-a-home

 We discuss the following items: 

• Key features of the First Time Home Buyer Incentive
• Who can qualify
• Impact on the Mortgage Stress Test
• Pros and cons of the program
• What information is still missing
• Increase in the RRSP borrowing limit

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca

Planning to buy a home for the first time? Worried about making critical mistakes that could cost you getting the home you want? In this episode, we talk with Jessica McNabb, Area Manager with Brookfield Residential, and discuss top mistakes to avoid when buying a home such as buying solely on price or limiting the type of home you want. We also explore if it's easier to buy a home with or without a realtor. 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/what-mistakes-should-i-avoid-when-buying-a-home

 We discuss the following items: 

• What are the key mistakes to avoid when buying a home?
• Is it easier to buy a home with or without a realtor?
• Are you making a mistake by limiting the type of home you are searching for?

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca

Planning to buy a house this year? Should you wait? In this episode, we talk with Jessica McNabb, Area Manager with Brookfield Residential, and discuss if 2019 is a good time to buy a home or if you should wait. We explore what happens if the housing marketing dips and if home prices fluctuate throughout the year. Finally, we answer when is the best time to buy a house. 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/is-2019-a-good-time-to-buy-a-house 

 We discuss the following items: 

• If 2019 is a good time to buy a house? If not, then when?
• What happens if the housing marketing takes dips?
• Should you wait to buy a home?
• Do home prices fluctuate throughout the year?

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca

You just moved into your new home and a new community. How do get to know your neighbours and the people living in your community? In this episode, we talk with Heather Cockerline, Community Experience Lead with Brookfield Residential, and discuss some ways to get to know and get along with your neighbours. We also explore the role of the homeowners association in bringing people in a community together.

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/how-do-i-get-to-know-my-neighbours-in-my-neighbourhood-or-community

 We discuss the following items: 

• How to meet and get to know your neighbours
• How to get along with your neighbours
• The role of Homeowners Associations in bring people in a community together.

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca

So you finally found the home you want to buy. What are the next steps? How do you go about buying that home? In this episode, we talk with Jessica McNabb, Area Manager with Brookfield Residential, and discuss how to make an offer on a home and the steps involved. We also explore how counter offers work and how the process is different when buying a resale versus a new home. Finally, we look at if it costs money to make an offer on a home. 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/how-to-make-an-offer-on-a-house-in-canada

 We discuss the following items: 

• How to make an offer on a home and the steps involved
• What are counter offers from home builders?
• Does it cost to make an offer on a new home?
• What's the difference between making an offer on a new home vs. a resale?

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca

Planning to buy a new home? Can you negotiate the price? What are some negotiation tips to consider? In this episode, we talk with Jessica McNabb, Area Manager with Brookfield Residential, and discuss negotiating price on a new home, if you can negotiate on home upgrades and the lot itself. 

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/how-to-negotiate-the-price-when-buying-a-new-home

 We discuss the following items: 

• How to negotiate price on a new home
• Can you negotiate on home upgrades? What are the costs?
• Can you negotiate on the lot itself?

Have any questions or show topic suggestions? Contact us:

Email:

[email protected]

Web: homebuyersschool.ca