Episode 41: How To Buy Or Rent Your Next Home
The housing market is absolutely insane in North America right now, especially in the major cities of Canada (helllllo, Toronto and Vancouver). The market is hotter than ever, and Canadian house prices and home sales hit record highs this March. So in today’s quickie, we’re diving into everything you need to know to navigate renting or buying your next home.
Whether you’re moving out into a rental for the first time or thinking about taking the plunge and buying real estate, there’s a lot to consider that can help you with your decision. Hosts Cailyn and Gillian bring their different experiences and perspectives as renters and homeowners to offer up realtalk on the process and logistics of landing your next home.
It’s daunting AF, but there’s still a ton of hope. It’s a good time to rent right now since we’re in a renter’s market, and if you’re looking into homeownership, interest rates are super low for the time being.
Tune in as we chat about:
Trends in the Canadian real estate market, and how much buying a home or renting a condo could set you back in major cities
How to decide between renting and buying based on your goals, values and finances (and the pros and cons of each)
The % of your income you should be sending on your home
The importance of location and neighbourhood
The team of real estate agents, mortgage brokers and lawyers you’ll need in your corner
Everything you need to know about mortgages, explained
The hidden and unexpected costs of buying a home that you should prep for
The process from submitting an offer to picking up the keys on your closing date
The requirements checklist you should use for finding your ideal rental
How to negotiate your rent like a boss
The paperwork, proof and process you’ll need to secure your rental home
We hope this episode helps you in your search for the perfect rental or your first home. Happy house-hunting, friends!
