Becoming a Homeowner
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Becoming a homeowner: an excellent decision!
A home that suits you
Being a homeowner means, above all, living in a house that reflects your tastes and lifestyle.
Is your family growing, and do you want to give your children a backyard or a playroom in the basement? In addition to being a great long-term investment, buying a property will allow you to create such spaces. Furthermore, if you choose a condominium or a multiplex, you’ll save time on maintenance in the former case, and benefit from a supplemental income in the latter.
Building equity
Paying for a house is a bit like saving long-term. Instead of paying rent to someone else, your monthly mortgage payments finance your asset and allow you to build considerable equity, which you can recover once the payments are complete.
A profitable investment!
Across Canada, real estate investments have significantly appreciated over the last decade. In Quebec, the median price of single-family homes has almost doubled in the past eight years, from $110,000 in 2002 to $209,500 in 2010. This represents an average appreciation of nearly 8% per year.
Fixed payments
Tired of rent increases? Unlike renters, who must deal with such fluctuations, you can now, as a homeowner, benefit from fixed payments that will protect you from potential interest rate increases, depending on the type of mortgage you choose.