buying 1st home

me and chad are looking into getting our 1st home. We are looking for a nice cottage style home in our city. We found a few we love, and friday we have an app with a bank to see if we can get a morgage

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21 replies since 5th February 2009 • Last reply 5th February 2009

Reply #1:

WoW That's wonderful Michelle! ^__^ !!!

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Reply #2:

right now!? is that a good idea with the economy? Surely it's affected you in Canada now? I'd wait a year. But, not to be a downer, congrats it will be fun doing it up! Happy

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Reply #3:

That's awsome, Michelle! Me and my hubby got our 1st house in August. This really is the best time. I hope you get it! If you do we will have to throw you a house warming party!!!!

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Reply #4:

actually I suppose it would be cheaper to get a house but may be harder to get a morgage?

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Reply #5:

Wait what? You can't get a house without a mortgage. Unless you buy it right out. Unless I am missing something....

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Reply #6:

i mean because house prices are cheaper but banks aren't so quick to give someone a morgage now

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Reply #7:

congrats!! ^___^

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Reply #8:

well we both have full time jobs in the Health care industry. We have an app to see a mortage broker. The houses we are looking at are between 109, 000 and 194, 000. A small two bedroom.

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Reply #9:

Congrats Michelle!!! I hope all goes well!!!

Actually, like anything its best to buy when the demand is down and stock is up. Prices are low, so buy! My cousin bought her house at the height of the market last year, and has now effectively lost almost $200 000.

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Reply #10:

My mum and me were talking about how much our house could potentially be worth the other day. Because we're close to Heathrow airport, central London, the train station with frequent sevices to central London and other large towns, and there's pretty much all the facilities we need nearby, we're in a really good location where houses are likely to sell for a lot. But because the economy's bad if we were to sell our house now we would be likely to sell it for a lot less than its actually worth, and when the market picks up again we would've lost a lot of money.
So in some ways it's good that house prices are falling because it makes them more affordable, but in other ways it's bad because people who want to sell are going to be missing out.

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Reply #11:

Oh, I see what you meant. Me and Jesse went and got a pre-aproval loan first, then looked at houses. Banks out here aren't being too bad. You just have to go through a lot of paper work and stuff. They want to make sure that you really can afford to pay back the loan before giving it to you. That way it doesn't get forclosed again.

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Reply #12:

well we can't get a loan right now, but in a few years we can. We just need to save up some money. We are going to look at some apartments. Right now we share a house, but having our own apt, would be great. need some privacy

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Reply #13:

Yes it would privacy is very very good.

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Reply #14:

I know, but we are waiting till the nurses strikes is over, then we can find a place. Right now need to pay off my studen loans

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