Buying a new home is an exciting endeavour but it’s often accompanied by a number of difficult questions such as:
How do you know if you are ready to own a home?
Have you thought about a budget?
How much are you willing to put down as a down payment?
Do you have a good credit score?
This resource, provided by Genworth Canada, walks you through these types of questions and more. Not only does this quiz outline what characteristics are present of someone who is ready to own a home, but it provides helpful tips on where to get started, what to look for, how to go about your financial planning, etc.
It also directs you to some other great resources, like Realtor.ca, the Homeownership section of the Genworth webpage as well as the Financial Planning section of the Genworth webpage.
Again, your lawyer typically comes into the picture after you have signed a legally binding agreement. Perusing these resources can help to make sure you are as informed as possible so you are prepared, willing, and able before you sign the agreement.