Good financial advice is essential for money-related decisions that we make in our lives, from saving up for college to investing in a pension. One of the greatest investments many of us make in our lives, is the purchase of a home, so should be considered carefully.

The decision to buy your home

For most of us, the decision to buy our first property – or any subsequent property – is tied up in more than just simple financials. After all, a bricks-and-mortar investment represents security, as well as a potentially smart investment. It’s a place where you can stamp your mark, raise a family, and provides you with a source of security and a chance to avoid the rental trap.

Often, with the right mortgage in place, your own home can also work out to be cheaper than a rental equivalent, even with the costs of maintenance involved. After all, the unstable nature of renting often translates into unplanned expense, when you could find yourself needing to make an unexpected move. So, what do you need to think about before you take the plunge?

Your Canadian financial advisor

There are a number of costs associated with the purchase of your own home, and a Canadian financial advisor, like Christine Ibbotson can help you to make sense of them within the context of your own personal finances. Your advisor can help you plan and create a schedule of likely costs, so that no unexpected charges later arise and surprise you! This will ensure that you have all of the information that you need before you decide to buy your property.

Your advisor will also help you to assess your existing financial situation to understand what capital you might have to form a deposit and whether your earnings can comfortably meet the ongoing costs of your planned new purchase. If you are still ready to progress, your advisor will help you to find the right mortgage to suit your needs. Remember that the costs of a home loan can vary greatly, so it’s essential to find a competitive mortgage that shaves as much money as possible off your monthly repayments, whilst allowing you to repay the outstanding capital sum in your desired timeframe.

Your Canadian financial advisor will also be able to look at your broader financial situation and advise on any other products that you might need, such as home insurance, life insurance and other long-term financial investments. This will ensure that your new home investment forms part of a bigger, broader financial plan for your future.

So don’t delay or take on the risk of making a bad financial decision. Contact your Canadian financial advisor, Christine Ibbotson today to get the expert help and support that you need.