More Ontarians looking to buy a home in 2014
Posted Apr 10, 2014 02:06:26 PM.
This article is more than 5 years old.
According to the latest RBC homeownership poll 85% of Ontarians believe that owning a home is a good investment and nearly 1 in 4 of them plan on acting on it.
Erica Nielsen, vice-president of Home Equity Finance at RBC tells 570 News why this is.
“Ontarians feel comfortable that their job is something that will secure them to be able to afford their home over time…they feel that their debt is manageable and feel that they’re ready from a down payment perspective to purchase their home.”
Nielsen adds it’s important to get all the necessary information before making that major purchase.
“We’re in a very low interest rate time and so what a homeowner really wants to do is make sure that as they think about not only this mortgage, but when it comes up for renewal and going into their next mortgage if interest rates were to be higher at that point – could they afford the home that they’re going into?”
Nielsen adds it’s important for future homeowners to consider if their own personal financial situation can manage the changes that may occur in the market and in their home.
