Are you ready to buy?
Responding to a desire of first-time home buyers to better understand the financial details in the buying process, the Canadian Real Estate Association announced Monday an online tool to guide them through the process.
Called the Homebuyer’s Road Map and created in conjunction with the Financial Consumer Agency of Canada, the guide offers basic advice in seven areas that buyers should be aware of before taking the plunge, including whether or not they’re even ready to buy.
Citing a recent Nanos Research survey done for the association, CREA says more than 63 per cent of Canadians indicated a “major need” for more information about the financial details of buying a home, a figure that rose to 70 per cent for respondents between the ages of 18 and 29.
The map’s aim is to “empower consumers with the knowledge, skills and confidence to make responsible financial decisions about one of the largest purchases they will ever make,” CREA CEO Gary Simonsen says in a release.