Buying A Residence
Helping You Define "Home"
Are you dreaming of a white picket fence or is it an urban condo that suits your lifestyle? No matter what your idea of "home" is, all future homebuyers are faced with the common challenge of saving for that big purchase. It's likely the most you'll ever spend on anything in your life, so planning is essential.
How much home you can afford will have a lot to do with your financial situation. Few people have all the funds to pay the full purchase price of their home, so you will have two commitments to make: The down payment and the mortgage. Plus, there are additional upfront fees associated with buying a home including, lawyers' fees, land transfer taxes, etc.
Get Financially Prepared
An important first step is to commit to saving for your home. Once you have, there are numerous investment strategies you can use to get the home you want. As your funds grow, you will have to consider how to invest them. You'll also need to manage your investments so that the funds are available when you need them for your purchase.
Making A Path Towards Home
If you are considering an investment plan dedicated to buying a home, talk to a CIBC Wood Gundy Investment Advisor. By helping you define your investment objectives, risk tolerance and time horizon, he or she can show you a disciplined approach to reaching your goal. To find out how we can help you, use our Find An Advisor tool to locate a CIBC Wood Gundy Investment Advisor near you.
The information contained herein is considered accurate at the time of posting. CIBC and CIBC World Markets Inc. reserve the right to change any of it without prior notice. It is for general information purposes only.
Clients are advised to seek advice regarding their particular circumstances from their personal tax advisors.