Second Time Around - Toronto Real Estate

As a current home owner, you remember what it's like being a First Time Buyer. You've been through the process before. But now that you've decided to move, what can you expect as a second time buyer?

One big Advantage to being a second time buyer is increased confidence in steering thru the home buying process. You 've been thru it before and as a result, you know what to expect and will better prepare this time around. This will help ease your stress levels when they might be high.

Many First Time Buyers may have, perhaps due to inexperience or enthusiasm, made a hasty choice to get into the market and purchased a home they are now not happy with. (For this reason reason I offer the "If you're Unhappy Guarantee") Maybe you have purchased more or less space than you required or the nieghbourhood is not what you expected, or the commute to work is gettiong too long. Simply perhaps, your needs have changed.

The difference now as a second time homebuyer, is that you have another difficult decision to make; Do you Buy First or Sell First? If you buy your second home prior to selling your first home, first home, you could be commiting to two mortgage payments for an undetermined period. If you sell your home first, you could be under a tight timeline to find that new home or arrange temporary living accomodations.

It's Now more important than ever to secure professional real estate representation, no matter how confident you feel about your prior experience. Real Estate laws and procedures have changed and the real estate market is completely different (Buyer's Strike or Buyer's Market?) now than it was even 6 months ago, let alone when you last bought possibly 10 years ago.

So take advantage of the current market slide and insecurity to Buy something more suited to your needs today. Use my experience and knowledge of the market to help make your transaction stress free.

Contact david@davidpylyp.com or simply call at 647 218 2414

Budget Highlites for Real Estate Toronto

Here are some key points mentioned in todays budget that will help us in our industry.

Canada's Mortgage Industry Welcomes Federal Budget Announcements

Earlier today, federal Finance Minister Jim Flaherty tabled the federal budget. Several measures affect Canada's housing and mortgage industry.

Temporary home renovations tax credit of up to $1,350 for eligible home renovations and alterations.

Increase in the home buyers RSP plan, withdrawal limit increased to $25,000 from the current $20,000

A new first time home buyers tax credit that will provide up to $750 in tax relief for closing costs. They're giving first time home buyers tax breaks designed to deal with added expenses like legal fees and - in what's certainly a message to Mayor David Miller - land transfer taxes. Those buying an abode will get a 15 per cent tax credit on up to $5,000 in costs.

Broad based personal tax reductions including an increase in the personal exemption and increases to the limits for the two lowest tax brackets.

Complete Budget details

Vivien Lai, AMP Mortgage Specialist Mortgage Alliance Real-T-Mortgages
Tel:(416)816-8252 Fax:(905)272-3833 vlai@tmacc.com
www.mortgagealliance.ca/vivienlai