First Time Home Buyers
This year, Ontario consumers can count themselves lucky in one important aspect; they are living in a time that offers unequalled opportunities to realize the dream of home ownership.
Interest rates are among the lowest in decades and the availability of housing of all varieties is at the highest level in years. In fact, in many situations renting a family dwelling can actually be more expensive than buying. If you consider, for example, a $150,000 mortgage at 8% for a five-year term, the monthly payments would be less than $1,200 per month. Compare this to renting a suitable three-bedroom apartment or townhouse in many urban centres and it's easy to see that buying a home has become an attractive alternative.
If you take a $100,000 mortgage at the same interest rate and term, the payments shrink to less than $800 per month. Even better, if you're willing to accept a one-year term the interest rate can drop by at least two percentage points. This would peg a $100,000 mortgage at only $650 per month and a $150,000 mortgage at around $975.
There is another important benefit to home ownership that often gets overlooked. Over the course of 25 years (the usual amortization period for mortgages), the total amount of money paid by many renters can actually exceed the amount paid by a homeowner. This is due not only to the fact that mortgage payments can be cheaper than rent, but because rental fees generally increase over the long term. Of course, interest rates may also rise, but so probably will the value of the property. Therefore, additional equity in the home will be gained.
Add to this the reality that after a mortgage is paid off, homeowners will no longer make monthly payments while renters will continue to bear the burden for the rest of their lives. This savings can greatly impact your quality of life upon retirement. These figures are only intended as broad examples, the fact remains that money spent on rent is still money down the drain.
Regardless of the number crunching, the bottom line is that owning a house is the best way to ensure the happiness and well being of your family. A home gives a family room to grow, and room to prosper.
Constructing a 'buying blueprint' is a critical step for first time buyers. In it, you will list such items as: how many bedrooms do you really need; is a finished basement a necessity or can you afford to wait; how big a yard do you need; and most importantly, where do you want to live? All these considerations will affect your ability to buy.
For example, many first-time buyers will forego a property close to the downtown core in favour of a suburban or even rural home. This can lead to huge savings, which can be used to both lower the mortgage and monthly payments, or to acquire a bigger home for the same cost.
Opting for a townhouse or resale home are other alternatives that can help first time buyers escape the rent trap and channel their funds into a solid investment.
So, if you're one of the thousands of Ontario families caught in the cycle of paying rent and seeing nothing in return, now is the time to make a move. Buying a home can pay off in so many ways that you simply can't afford to pass us the opportunity.
Portions of this article re-printed by permission on TaraRosen.com by the Ontario Real Estate Association
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Awards and Merits
After obtaining my real estate license in February of 2002 I have personally housed over 150 families across South-Central Ontario, and was honoured with the Arten Real Estate Centre Top Producer award for 2002, 2003 and 2004. Furthermore, out of the thousands of registered agents with the Toronto Real Estate Board, for 2003 and 2004 I am in the top 1% for 'Sales by a Buyers Agent'.
I continue to better myself for my clients through ongoing real estate education and course certification. I am licensed in the Province on Ontario as a real estate sales representative and accredited member of the Toronto Real Estate Board (TREB), the Real Estate Council of Ontario (RECO) the Ontario Real Estate Association (OREA), and the Canadian Real Estate Association (CREA).
Proven Track Record
Even though I have only had my real estate license since February of 2002, I have worked in the real estate industry for over 15 years. My own personal standards are quite high, thus reflecting the commitment and quality of work that I provide my clients with. I have been awarded with numerous achievements and have gained the respect of my employers and peers. However, my one true accomplishment are my clients... if they're happy, I'm happy.
“Over 95% of my clients are first time home buyers!”
With a record such as this, I know that the work I am doing is important, and that it helps to set me apart from my competition. I enjoy the work that I do with first time buyers. It can be quite a daunting and overwhelming process for my clients, and having the ability to overcome their fears and to be able to explain the process and help determine between what they want and what they can actually afford for their first home is not only my job, it's my passion.
“Many first time buyers either don't know, or don't have ready access to the necessary tools and key personnel needed to complete a real estate transaction.”
Not only will I bring to the table my own expertise in residential real estate, but also the skills and experience of such professionals as consultants, mortgage brokers, homes inspectors and real estate lawyers.
Hands on Approach
The first order of business is to speak with my clients personally to go over their needs and wants when purchasing or selling their home. Depending on your current level of knowledge in the industry, I will either give you an overview of my services or go into greater detail explaining everything and anything you will need to know or are unsure of. I take great pride in being well educated in my field with respect to residential real estate purchase and sale, and I will strive to follow each and every step of the way with you. I will refer you to other professionals throughout the process, but only when necessary in completing your transaction. However, I will always be available to answer any questions or handle any concerns that you may have.
Even after your real estate transaction is completed, I will remain available to you should you need me. With additional services such as my WebReports and newsletters, you can stay in touch long after your closing date... and when you're ready to sell and upgrade or perhaps you want to move into a different community as your lifestyle changes, I am only a phone call or e-mail away.
Strategic Partners and Innovative Programs
Ever heard of the phrase, “It's not what you know, it's who you know.”?
Well, with me it is who you know, but it's also just as important what you know. To be able to offer my clients a complete package for their residential real estate transactions I have worked very hard to surround myself with industry professionals capable to compliment and broaden the services that I can offer. This is especially important to those of my clients that are purchasing their first home, as they may not have the knowledge or access to various government programs, lenders, brokers, consultants, contractors and home inspectors, to name but a few.
As part of my obligations to my clients I fully inform them of what is expected, who needs to get involved and when, and I can suggest professionals I work with that have proven track records. Ultimately, the choice is up to you. Perhaps you may already have a real estate lawyer but need a home inspector, maybe you need a consolidation or renovation loan? Just give me a call and let's see what I can do for you!
Another important aspect of my business is to be able to offer my clients access to services in which to obtain financial assistance. There are currently many innovative programs available offered by government, as well as public and private sector organizations, to enable home buyers a realistic opportunity for home ownership.
The Market Areas I Service
Arten Real Estate has its head office located in a suburban area north of Toronto in Richmond Hill, Ontario. From this epicentre agents represent the Greater Toronto Area (GTA), as well as the regions of South Central Ontario, Durham Region, York Region, Halton, Peel and South Simcoe.
Personally, I have housed clients in each of these areas. My personal office is based northeast of Toronto, which enables me to concentrate my efforts on York Region, Durham Region and South Simcoe, including such cities as Scarborough, Pickering, Ajax, Whitby, Oshawa, Newmarket, Keswick and Barrie... to name just a few.
What You Will Need
For starters, get your hands on the CMHC Home Buying Step-by-Step Guide. This comprehensive guide and workbook includes over 70 pages of 'must-have' information, including worksheets and checklists to take you through the entire home buying process, step-by-step.
To receive a free complimentary copy from us here at TaraRosen.com, order one now if you're located in Southern Ontario. Just make sure to provide us with complete mailing details, and indicate 'Send Guide' as the Subject. Within 7-10 days you should receive your free guide in the mail. And, if for some reason you haven't received your guide... call and yell at us!
What You Can Expect
When it's time to make one of the most important financial decisions of your life, choose a Toronto Real Estate Board REALTOR® to guide you. REALTORS® are licensed professionals who must meet continuing education requirements and abide by a strict code of ethics.
Using the services of a Toronto Real Estate Board REALTOR® such as myself you are assured that I am a qualified professional who can:
Using my exclusive access to the Toronto Real Estate Board's Multiple Listing Service®, I can help you search for the home of your dreams in the most effective manner. As well, I will commit to representing your best interests in writing, giving you the confidence that a professional is on your side.
Out of Town? Out of Province?
Thinking of relocating? With over 50,000 REALTORS® worldwide in our database, we're bound to find you an agent ready to represent your best interests when buying or selling a home.
If you're viewing my website either from a part of Ontario I currently don't service or perhaps you're a visitor to my site from another Province or Country? I can help. see Moving to Ontario
If you're considering moving out of the Province or to another country, I can help you with this aspect as well. Please contact me further with your details and I will respond to your questions promptly, and will suggest REALTORS® in the areas you're looking at.
Need More Specific Information?
Why choose me as your agent over anyone else? Well, you've probably heard every sales pitch out there, so I won't bore you with another one. Send me an e-mail, or better yet give me a call at 905-852-1461. After speaking with me, if you feel comfortable enough I'd love the opportunity to help you with your real estate needs.
Trust and respect are earned, and I hope to do just that.