On AssignIt.ca, we offer our Renters the chance not only to view available assignment rentals, but also give them the opportunity to search for assignment properties for sale.

As a Renter, it might be a good idea to start thinking and planning about taking that inevitable step towards ownership now. With the help of AssignIt.ca's Mortgage Specialist and our team of Assignment Professionals, the freedom and pride that comes with owning your own condominium may be easier to grasp than you think.

To find out about the benefits of Home Ownership, feel free to read the article written by our Mortgage Specialist Scott Westlake below:

If you’re renting, you may dream about owning a home of your own - a place to furnish and decorate as you like...to set down roots...to enjoy a great neighbourhood, and to entertain friends and family.

But you may be uncertain whether you’re ready to make your move from renting to buying, especially if you haven’t started saving. Fortunately, with today’s low mortgage rates and more flexible down payment requirements, your first home may already be within your reach.

Along with your own personal motivation to own a home, there’s a sound financial reason to buy now: your home may be the single biggest investment you’ll ever make, one that could pay off significantly in the long run.

No roller coaster ride for today’s buyers
Today’s housing market differs sharply from the 1980s, when panic buying and an over-supply of homes cause violent swings in house prices. Unlike those over-heated times, we have been living in a period of low inflation and low interest rates, both of which help to maintain a strong, but steady, market for homes without wild swings in prices. Demographics, immigration and a sound economy are all factors supporting the belief that a home will continue to be a good investment, at least in most parts of Canada. Perhaps more than ever, location is the key factor driving price increases. Homes in these neighbourhoods are more likely to see above-average price increases over the next few years.

The long-term investment value of a home remains very good
Although no one can predict where prices will be in 25 years from now, the Canadian Real Estate Association (CREA) reports that the average price of a home in Canada has risen by 200% since 1980*, making it one of the best investments available today.

At the end of the day, one of the biggest considerations isn’t the market, mortgage rates or investment value, but rather your desire to enjoy the comfort and privacy of owning your own home. In other words, the best time to stop renting and start owning is when you are ready.

Frequently Asked Questions About Buying a Home

How can I compare my monthly rental payments to mortgage payments?
Of course, the amount of the mortgage payments will depend on the price of the home you buy, the size of your down payment, prevailing mortgage rates and the term and amortization you choose. But it’s actually quite easy to estimate typical payments using the mortgage calculators on our website: go to www.rbcroyalbank.com/mortgages and click on ‘Mortgage Calculators.’

How do I know how big a mortgage I will qualify for?
A pre-approved mortgage is a great way to know how much you can borrow for your home. This, in turn, helps you set up a price that’s realistic for your financial situation. It’s important to note that having your mortgage pre-approved doesn’t obligate you to buy a home; it’s simply a way to know how much your mortgage lender will approve you for. Our mortgage specialists can meet with you in your home, workplace or at a branch to take you through the pre-approval process.

I want to become a homeowner as quickly as possible but I haven’t saved a large down payment. Any suggestions?
You can now purchase a home without a down payment, as long as you meet approval requirements. All you need is 1.5% of the purchase price to cover closing costs. A mortgage specialist can help you consider whether this option is right for you.

Where can I find up-to-date information on home prices and the real estate market in my area?
The Canadian Real Estate Association (CREA) website helps you look at average home prices in communities across Canada and locate a Realtor in your area. The site also includes useful homebuying tips and a glossary of common real estate terms. Go to www.crea.ca.

The Canadian Mortgage and Housing Corporation (CMHC) provides a content-rich website with detailed, step-by-step information on buying, selling and renovating a home, as well as up-to-the-minute news of interest to homebuyers and sellers. Visit www.cmhc.ca and click on “Buying or Renting a Home.”

RBC Financial Group provides detailed information on mortgage options and first-time homebuying at www.rbcroyalbank.com/products/mortgages/first_time_home_buyers.