Archives for Ottawa Buyers
Are you self-employed and looking to buy a home? The CMHC is giving lenders more guidance and flexibility on determining whether a self-employed person qualifies for a mortgage. They are implementing changes in order to make it easier for self-employed individuals to obtain a mortgage, as these Canadians tend to have a more difficult time qualifying. This is due to incomes varying and being less predictable than those with salaries/are employed by a business. Click here for the full story.
The following are highlights from the Ottawa Real Estate Board’s latest News Release read the full story Members of the Ottawa Real Estate Board sold 2,279 residential properties in May through the Board’s Multiple Listing Service® System, compared with 2,294 in May 2017, a decrease of 0.7 per cent. The five-year average for May sales is 2,041. May’s sales included 485 in the condominium property class and 1,794 in the residential property class. “Although our overall inventory stock is down in both the residential and condo market, the number of listings coming onto the market this month is typical spring activity,”
When you are planning on purchasing a home, one of the most important things to have done is a home inspection. Many buyers don’t think it’s necessary, or is too expensive. But, having a thorough walk-through of the property will help pin point problems early on and save you money down the road. A home inspection will look beyond the cosmetics of the home and take a serious look at the home’s systems (HVAC, wiring, plumbing) and structural aspects, like the roof. Click here for more information on why you need a Home Inspection.