Buying Your First Property in 2023 | 5 Mistakes To Avoid
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Published 2023-03-24
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• Storey Team + Scott Mcgillivray Partn...
Chapters
0:00 Buying Your First Property
1:33 - Mistake 1: Not Knowing All Your Options
4:27 - Mistake 2: Not Knowing How Mortgages Work
5:53 - Mistake 3: Not Taking Advantage Of RRSP and FTSA
7:00 - Mistake 4: Buying For The Short Term
7:42 - Mistake 5: Don’t Buy Because Of The Hy
All Comments (14)
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Thanks for watching. Hope you like the new studio setup!
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Living in Langley near Vancouver, Ive noticed the market picking up quite a bit lately, even seeing many places going into BIDS.....how are ppl affording these rates, who the hell knows
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First look the value 👌 of the area and drop the price from the difference of the drop in % don't be shy to go 50-100k under asking when the price is off 😀
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Excellent guide, Tom. I'm one of those 1st time home buyers trying to get into the market this year, and this is super helpful 👌 Keep up the great work 👍
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Love the new setup! It looks like a HUGE upgrade! Congrats!
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I currently live in midtown on Yonge and davialle in a rent controlled building which I have everything that I need. The rent is 1600 for 1 bedroom ( swimming pool and gym ). The fact that I live here I’m able to save a lot for a future place. Im too confortable to move out 😇
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Great video
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Thanks Tom for keeping real & transparent great vid 👏.
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Co-ownership is a really interesting alternative, however, this requires trust or a trusted financial system to define terms for such a contract. Are you aware of any financial regulations around co-ownership in the current system?
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Property value, and CBDCs. What percentage of Canadians own property? In Canada, the homeownership rate in 2021 was 66.5%, and it fell 2.5 percentage points from 69.0% in 2011. In Newfoundland and Labrador, the homeownership rate in 2021 was 75.7%, and it fell 1.8 percentage points from 77.5% in 2011 Expected 1 out of 5 defaults on Mortgages due to debt to equity ratio. Canada needs to own something, or we will not be happy!
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If I already have a TFSA, is there a point to opening up a FHSA?
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First mistake with buying in 2023. You bought in 2023!
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I had no idea that’s how you pronounce avocado
