The average home price in Canada is almost half a million dollars.
Safe to say, a home is probably the biggest purchase you’ll ever make (unless you buy a Bugatti.)
When looking for a house, there are a few things to consider:
You will need to look at some of the hidden costs of home ownership:
- legal fees
- home repairs
A financial advisor can create a financial model that will outline all the costs you will face, including the cost of carrying a mortgage five years from now, not just in the next six months.
You should look at how this big new expense will affect your retirement savings.
A financial advisor can create a financial model that outlines the costs you’ll face. In both the short term and long term.