Owning a home is the dream of many Canadians. There is something so satisfying about putting down roots in a place that resonates with your personality. Even if you purchase a home as a stepping stone to enter into the market and move up later on, it is still something special to call your own.
Homeowners feel a real sense of independence, as well as a feeling of stability that is lacking in rental accommodations. This is especially important to people who have children or are thinking of starting a family, and who want to feel like a real part of a community. And in the case of condominiums, a building is in essence a vertical community.
Another beautiful thing about owning a home is being able to live in your financial investment – and for most Canadians, a home is the biggest one they will ever make. As you enjoy your home and make your mortgage payments, you build equity. Over the years, this aspect of your investment opens the door to other benefits such as being able to move to a larger home and have a substantial amount to put down, or to borrow against as your lifestyle needs change.
Of course, when you buy in a new condominium, you have the opportunity to select the colours, features and finishes that personalize your surroundings, making your suite feel even more like “home.” If you are renting and dreaming of owning, be sure to do your “homework” and find out what government programs and builder incentives are in place to help first-time buyers. Take the steps necessary to have a home of your own!