Halifax Nova Scotia Real Estate
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Halifax Real Estate Information
Assess Your Finances Calculating the cost of homeownership
Calculating the cost of homeownership is much more complicated, because income tax considerations affect your bottom line. And there is, in addition, the uncertainty about how much the value of your home will rise (or even fall) in the coming years.In today's market (May 03) low interest rates seem to be driving house prices higher. As we know, you can borrow more money when rates are low. However caution is advised, inflation may cause interest rates to increase, overvalued property owners entering into a rising interest rates environment may find themselves with future mortgage renewals rates digging into much need cashflow. Under that same scenario - the renter, landlords are not bound by rent controls and can freely pass along operating expenses.
Further Information:
Planning Your Home Purchase
Checking Your Credit Rating
Pre-qualification and Pre-approval on a Mortgage
Becoming an Educated Buyer: Research Neighbourhoods
Becoming an Educated Buyer: Your List of Home Requirements
Assess Your Finances: Checklist
Assess Your Finances: Compare buying with renting
Assess Your Finances: Calculating the cost of homeownership
Assess Your Finances: What you can deduct
Interest Rates and How They Change
Closing Costs
Other Closing Costs
Figuring Out Your Monthly Income
Figuring Out Your Monthly Debt
Amount of Your Down Payment
How Much House Can You Afford?