Questions to ask before you buy a home

couple looking at listings to buy or rent a home

After much speculation and trepidation about the new mortgage qualification rules that took effect in 2018, it appears that plenty of prospective homebuyers still intend to buy a home this year.

We took to Facebook to ask our followers if they still plan to buy a home, in spite of the policy changes. Eighty per cent said they do, while 20 per cent are delaying their move.

While home ownership is a great way to build future wealth, it’s not for everyone. Ultimately, the decision to buy a home is a very personal one that depends on a number of factors, such as your finances, future plans and overall comfort level. The good news is, professional real estate agents, mortgage brokers and real estate lawyers are there to advise you before you dive in.

To help get you thinking about whether home ownership is right for you, here are five important questions to ask yourself.

Before you buy a home, ask yourself:

Home ownership is a huge financial and emotional commitment, and a decision not to be made lightly. Indeed, there are lots of questions to ask before you sign on the dotted line. The key is being honest about the answers. Then, when you’re ready to buy a home, work with a team of professionals including a financial expert, lawyer, and a real estate agent you trust, that can help make your dream of home ownership a reality.