Being a mom has shaped the way I do everything...not just at home but in my work, as well. It has helped me understand the depths of commitment that my clients have to their families. As a mortgage specialist, I have the privilege of helping people achieve their dreams for their families. I'm so grateful to be able to offer people the advise and information they need to make reaching their goals as simple as possible. My purpose with this blog is to provide tools that will help new or current homeowners reach whatever goals they have set for themselves. If you have ideas you'd like to hear about, let me know.

Tuesday, 17 January 2012

Buying a home? Here are some things to consider that may save you money.

Buying a new home is very exciting event and likely one of your biggest financial investments.

Before you buy your home, consider if the home needs repairs, or is a higher insurance risk. You may be able to negotiate a lower purchase price, based on anticipated expenses.

For example, some things to consider are...

  • Older homes with aluminum, or knob and tube wiring could be considered a fire risk and can increase your insurance rates.
  • A home with oil heating can be an environmental liability risk.
  • Both of these things can be updated to reduce your insurance costs, but they may be expensive and should be factored into your final costs.
  • Another consideration is whether the home you want to purchase has a history of water damage. Certain areas are known for flooding and sewer back-ups which could increase your insurance rates, so you may want to adjust the purchase price accordingly.
  • Before you make your final decision, be aware and ask questions, what you learn could help you save money and ensure you pay the right price for your home.
For more information, visit the RBC Advice Centre.
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