Homebuying Step by Step: Your Guide to Buying a Home in Canada
Keep your home safe Be prepared for emergencies before they happen. • Prepare an evacuation plan in case of a fire. • Store your valuables in a safe place. • Dispose of any dangerous materials properly. • Check fire extinguishers, smoke alarms and carbon monoxide detectors on a regular basis. Home improvements As a new owner, you may plan on making improvements to your home. Some renovations can almost pay for themselves over time, especially if they result in savings on utility bills or a higher resale value in the future. Other renovations are worthwhile because they add comfort, enjoyment or functionality to your home. Keep in mind that home prices are influenced by the price of similar homes in the neighbourhood. Don’t go overboard with home improvements unless you plan to stay in your home for many years to come. If you plan to make energy efficiency improvements when you purchase an existing home, you may be eligible for a CMHC Green Home partial premium refund. Use the Home maintenance calendar worksheet at the end of the workbook.
Learn more at cmhc.ca/greenhome .
Talk to your lender or broker if you’re buying a home that needs repairs or renovations. There may be options available that can help you finance the repairs and renovations as part of your mortgage loan.
19
Powered by FlippingBook