How to build or buy a house
How I did it: In Canada, one can borrow from out RRSPs at 0% over 15 years to buy one's "first" home. So I did that. I also borrowed a bunch of money from a bank (at a good rate) to contribute a bunch more - which I was able to lend myself after 90 days. In the end, I had a 20% down payment, which allowed me to avoid paying CMHC fees for default insurance.
In in debt up to my neck now --- but what else is new?!?!?!? LOL!! Not only did I eliminate the need to pay rent, but part of the house is rented, which pays the mortage, taxes, utilities, and leaves a little for renovations. :c)
Lessons & tips: It helps if you are trained in construction. As a professional carpenter, I'm more than capable of fixing up an older house. I don't recommend this to amateurs, regardless of how easy TV makes it look! LOL
Other than that, I'd say take advantage of every government grant, low-rate loan, etc that you can lay your hands on!
Resources: God; my realtor; my mortgage broker; gf and family for moral support. A big BOO!!! to my insurance broker!!!
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