SEVEN TIPS I WISH I HAD RECEIVED BEFORE BUYING MY FIRST HOME
1. Understand how credit works I thought I understood how credit works. However, I was wrong. Yes, paying your bills on time is important. But, what is also important is the amount of credit that you have access to. For years, my partner and I refused to increase our credit limit, believing that we were taking the necessary precautions to increase our debt. Rather, it turns out that we were hurting our rating because we were using more of our available credit. Make sure you know your credit rating, but also make sure you understand how it works. 2. Check homeownership programs There are all kinds of programs that help people like you who want to buy a first home. Provincial (and even local!) Programs can give you a big boost. Some even offer financial assistance or tax breaks. Find out what programs are offered in your area; they could open many doors for you. 3. Know all your assets I have great news for you: buying a house is getting more expensive. I'm not teaching you...