Buying A New Home May Be Possible
Sooner Than You Think

"Some day I'll have a home of my own." The dream of home ownership is alive and as strong as ever, but in these cautious times, potential home owners are hesitant to make the move.

Buying a new home may be possible a lot sooner than you think. People tend to overestimate the downpayment needed to buy a home, as well as the monthly mortgage payments. 

On a month-to-month basis, it need not cost much more to own your home than what you spend on rental accommodations,  Home ownership can be a real alternative to renting. And each month you'll be making an investment in your own future, not someone else's.

Buying a home begins with a realistic look at your financial situation. How much is your household income? Do you have any savings?  Debts? Are there outstanding balances on your credit cards? Can you borrow from friends or family to cover a short-fall?

Talk to your banker and other financial advisors. Enlist their assistance in evaluating your situation and get professional advice on how best to reach your goals.

Visit new home builders in your community and find out how they can help you become a home owner. If you order a new home today, it may be months before you take possession and need to make payment in full. A creative approach to phasing deposits and construction allowances over several months may give you just the kind of time and flexibility you need.

And finally, buying a brand new home is your best assurance that you will not run into major repairs and replacements for years to come. With your builder's after-sales service, product manufacturers' guarantees  you should be covered.

Contents: 

A great time to buy a new home
Do your homework before you go shopping
Financing your new home
Buying a new home may be possible sooner than you think