How to own my own home
How I did it: About 3 years ago my "new" hubby and I decided we'd really like to stop renting and become homeowners. With not a lot of cash or credit due to us both making a "fresh start" in life ( round 2) we began searching out "fixer uppers" The best thing we did was to seek the help and advice of a good mortgage broker. He held our newbie hands along the way and gave us tonnes of tips. He found us a mortgage when the banks said no, and the best part is you don't pay for a mortgage broker. They are paid a percentage from the sale, when they find you a mortgage ! ( or something..but you don't pay them ) We couldn't have done it without him ..he was awesome !
We live in on of the most expensive areas in Canada and we wanted a big yard. No mobile homes, no townhouses, no tiny city lots, but a real yard. The odds seemed against us for a couple years, either the places we looked at were cheap because they were falling apart, too close to the highway, or the deal fell through but we didn't give up and finally a fixer upper on 1/2 an acre near my work came on the market. There was a 3 way bidding war. 1 person dropped out and then they seller took the other persons offer but we kept our offer on the table just in case. His funding fell through and finally it was ours ! The moral of my story is never give up !
Lessons & tips: I highly recommend using a mortgage broker ! Also choose your real estate agent carefully or you'll be doing extra work !
Resources: browse the MLS listings !
