Wednesday, August 29, 2012

Saving up for a down payment: The young adult's struggle

In an era where rates of savings are down, it appears to be increasingly harder for first time buyers to save the necessary down payment for their first home. Many banks and financial advisers will suggest that it is best to put the largest down payment possible on your first home but, with the rates of savings so low there are some other things to consider. This article, in the Globe and Mail, explores the difficulty in saving for your first home.

I found some of the information interesting, such as, according to the article, the average home price in Canada is $295,000, the median family income is $70,000 and the average age of first time buyers is 34. I would be curious to see some stats for Alberta where the average house price is quite a bit higher than the average. I would also guess that the average family income is higher than $70,000 and that the average age of a first time buyer in Alberta is quite a bit younger than 34.
If you are struggling to get your down payment together, you may find some truth in the article.

Friday, August 17, 2012

Edmonton: A City Well Built

If you're thinking of moving to Alberta's Capital City and you're wondering what we have goin' on check out this great video showcasing the great development happening in Edmonton!

Friday, August 3, 2012

Purchasing a condo: what's the difference between titled and assigned parking?

If you’re thinking of buying a condo, one of the items you may want to consider when choosing one building over another is whether parking is assigned or titled. There is a big difference between the two! Here is a blog article written by one of my Realtor partners explaining the difference...what’sthe difference between titled and assigned parking?

Wednesday, August 1, 2012

Helping adult children with the down payment: helping or hindering?

The parents quoted in this article have some great ideas on how you can help your children with the purchase of their first home whilst teaching them the value of money: Think before gifting the down payment on kids’ home

I'd love to hear your thoughts on parents helping adult children with the down payment on their first place. Is it a benefit or a detriment to the adult child's view on money and responsible borrowing?