You've heard about the changes to mortgage rules. Now we explain what it means for prospective Options For Homes purchasers.
Options for Homes (Options) has been delivering affordable homeownership housing for over 24 years, and now we've been recognized as an Affordable Housing Champion by the City of Toronto. We couldn't be prouder!
Whether it's because the kids have all moved-out, or you're preparing for retirement, we know moving from a larger home with lots of stuff into a condo can be tricky.
So you want to buy a home in a big metropolis city like Toronto, but housing prices are through the roof. What options do you have? You could buy a place with a friend or family member. You could wait it out. You could buy a home outside of the city, far away from your work and social circles. Or, you could buy a less expensive home, within the city, in an up-and-coming neighbourhood.
Options has a pretty strong track record when it comes to finding neighbourhoods right before they become coveted places to live (think: the Distillery District, the Junction, Lawrence and The Allen, Main and Danforth).
Buying your first home will most likely be the biggest purchase you'll ever make. Many people take a long time to make the leap because they're uncertain about their finances, credit ratings, the general affordability or how the whole process works.
Home ownership creates the kind of financial security that benefits Canadian families and Canada as a whole. It supports the economy of cities; it helps people prepare for their retirement; it frees up affordable rental housing in tight urban markets; and it builds a stable middle class. Canadians value the opportunities and security home ownership creates.
Canada has a housing crisis, and affordable ownership housing offers several solutions. Here are just a few...