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Real estate/home story
Check News Canada
THE WEEKLY ANCHOR
PAGE 18 MONDAY NOVEMBER 11, 2019
THE WEEKLY ANCHOR MONDAY MARCH 23 , 2020 PAGE 15


T he WeeklyANCHOR REAL ESTATE WEEKLY




How to find and afford



your first home



Every day, the news seems to more affordable homeownership
feature a story about how expensive options. An often-overlooked option
it’s becoming to purchase a home. that can help you enter the market
This is particularly worrisome for sooner, , is land lease. In this
young families. If you don’t own a homeownership model, buyers
home and can’t tap into existing purchase and own their home – and
equity, finding real estate that you own it outright – while leasing the
can afford may seem like an land on which it sits. A home in a
unrealistic dream. However, with a land-lease community can cost up to
good financial strategy and some 30 per cent less than a comparable
real estate research, you may be able home in the same market, making it
to get into your first home sooner a much more affordable option for a
than you think. first-time homebuyer and freeing up
First, get your financial house in money for life’s other priorities.
order by getting expert help from These homes also appreciate in
your credit union, bank or financial value similar to comparable
planner. A financial expert can help freeholds, which means they
you build a plan to save for a down- provide a strong return on
payment, lessen your debt-load and investment if you decide to sell.
better manage your month-to-month Whatever you’d like to own, the
expenses. A good one can help you most important thing to do for your
develop a budget so you can put homeownership goal is to develop a
some money into savings each sound financial strategy. And once
month. They can also advise you on you find that first home, you’ll start
how to make your savings grow and to build equity and value that will
should know about any government set you on the path to your forever
programs – including the ability to home.
use some savings from RRSPs – that Find information about land-lease
may be available to help first-time homeownership at
buyers. www.parkbridge.com.
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