New Pre-Construction Homes & Condos Lanark County ON

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New Pre-Construction Homes & Condos Lanark County ON

Is owning an investment property in Lanark County, Ontario profitable?
If you are thinking about buying a house or apartment in Lanark County, this page will help you get started with information and tips. Lanarkshire is located along the beautiful Niagara Escarpment and is known among many to be ideal for outdoor living. If you enjoy spending time outside then this would suit your lifestyle better than other areas. Most homes in Hillsdale have great views of nature which makes them perfect if you love being outdoors but still like to live in a quiet area. Hillsdale is also home to the largest community park in Canada, Centennial Park. There you will find a golf course, aquatic center, tennis courts, playgrounds, swimming pool, skateboard bowl, baseball diamond, soccer field, and more. Just down the road you can visit the Glenview Golf Links and Country Club; they offer membership options ranging from individual memberships to corporate packages. When shopping around for property, remember to check for the following amenities before making purchase decisions: indoor pools, hot tubs (indoor/outdoor), sauna, gymnasium, jacuzzi, fireplaces, fireplace(s), and covered parking spaces. For additional information on finding the perfect place please contact me today. Webinar Recording: https://youtu.be/qnkZx5z0gI Blog Post Description: This webinar covers everything you need to know about new home ownership: Where to search online, real estate agents to consult & more. Register Today!!! Featured Image: yes Embed Button: http://www.webinars2go.com/embed/?webinar=9365040 Video Transcript: Hi Everyone, My name is Michael Goggin. I am CEO and founder of Webinars 2 Go. Webinars 2Go provides high quality and affordable webinars covering every topic under the sun. Our team of experts cover topics across a wide range of industries including finance, healthcare, sales, business development, recruiting and education just to mention few. And if you take a glance at our library of 1 Million+ recorded videos, you’d notice some pretty amazing stuff, such as interviews with entrepreneurs who sold over $100M+, reviews of top products, tutorials on building websites and apps, and lots of educational content. So whether you’re looking for training material or simply interested in hearing inspiring stories of people succeeding in life after college, we hope these events will provide value to both beginners and professionals alike. But enough talking. Let us show you exactly why our clients keep coming back for more... In case you missed my recording of Why Investing Early On In Real Estate Is A Great Idea, watch it below. https://youtu.be/4eU6rW_wfM8 What's Next? Subscribe to the Community Channel for updates. Or register for free to become part of the conversation. About Me: Michael Goggin is entrepreneur, financial investor, keynote speaker and author of “Why People Fail and Life Proves Successful" Follow him on Twitter @michaelGoggin Connect with Mike on LinkedIn >> www...
New Home Lanark County Buying 101
1. Find Your Perfect Location Before starting your search for a property, find yourself a location you love. Wherever you live will be reflected on the type of community you want to live in. If you’re thinking about investing in real estate for the first time, a great place to begin researching would be your local municipality’s website. There, you can browse through the different listings available, get information about nearby schools & amenities, learn about the area history and see photos of each neighborhood. 2. Research Local Markets After finding a neighbourhood that you like, research surrounding communities. If you have kids, you should consider neighbourhoods with good school catchments. 3. Decide On Price Range Deciding on your price range should depend largely on your current income level, but keep in mind that prices tend to rise faster than they fall. A rule of thumb is to aim for 20 percent less than the average selling price of similar properties around town. Also remember, you can negotiate down your asking price by 10% without risking losing your sale entirely. 4. Make An Offer And Start Negotiating When making a bid on an offer, try to stay away from negotiating over the phone and instead use a realtor who knows the market inside and out. Once an agreement is reached, make sure your purchase contract contains all the terms required by law. 5. Hire a Real Estate Agent Hiring a realtor is another way to ensure smooth transaction. They help you navigate the entire sales process and act as your advocate during negotiations. 6. Make Sure Everything Is Signed Off At this point, everything needs to be approved and finalized before moving forward with your purchase. Make sure all parties agree on the details of closing including inspections, final walkthrough, title search, legal fees/charges, taxes, mortgage documents, etc. 7. Pay Down Debt Or Save For Future Home Improvements Depending on whether you bought your house with cash or borrowed against it, the next step could involve either paying down debt or putting aside some money toward improvements. Either way, you’ll want to ensure you save enough funds to pay off any outstanding mortgages and close escrow on time. 8. Move Out Of Your Old Home Moving day is usually exciting — especially after months of anticipation. But it can be stressful, which is why many people choose to rent while their old homes are being renovated or repaired. Renting will allow you to focus on other aspects of life while still getting paid, plus you won’t miss any of those special days when you finally move in. 9. Enjoy Life As Newlyweds Or Family Managers Congratulations! You just got married or started raising a family! While both are rewarding experiences, it’s common for newly engaged couples to spend most of their savings on wedding expenses. So, before settling down and spending every spare dime on renovations and repairs, take some time to enjoy the perks of marriage. 10. Invest In Long Term Financial Goals Like Retirement Plans While it takes years to reach retirement age, planning ahead will give you peace of mind knowing you’ll be financially independent and ready for whatever happens. Invest early...
When buying a new home in Ontario follow these steps
In search of your next home in Hillsdale? Looking for the perfect place to raise children, retire or just get away from it all? A beautiful lakeside community like Hillside Village offers many great amenities including shopping, restaurants, medical care, schools, parks, recreation facilities, churches, and so much more. If we haven’t piqued your interest yet then keep reading because this article will help you narrow down your choices and make finding your dream neighbourhood easier than ever. Here’s everything you should consider while searching for a new house or condominium in Lanarkshire County. [SECTION HEADING IMAGE] Where Should I Live? There are different types of housing available; single family homes, condos, townhouses & apartments. Single Family Homes tend to be larger and offer more room per square foot but they often cost $$$$. Townhomes and condos generally come at a lower price point but smaller rooms which some people prefer. They’re ideal for growing families who won’t move that frequently. Apartment living usually costs less than owning a standalone property. However living near good transit, schools, grocery stores, malls/shopping centres, work opportunities, sports arenas and entertainment venues can significantly increase resale value. Check out these articles below that discuss living expenses in detail: Cost Of Living In Vancouver | 2020 Average Housing Costs| Top 5 Cities For Renting A Two Bedroom Apartments. [SECTION FOOTER IMG]. Site Map: noopener.net/wp-content/uploads/2018/06/site_map_2018_updated.pdf Pricing Page: https://www.noopenertranslationsite.com/?page=pricing&lang=en Company Logo: https://i0.wp.com/imgur.com/IoJH7vw.png Blog Title: The Most Common Mistake Made By Small Business Owners When Hiring Staff And Why Is It Such An Important Step Blog Description: Many small business owners make mistakes when hiring staff due to misjudgment, lack of experience, or ignorance of the industry. Learn why these errors occur and prevent them from happening again. Featured Images: No Section Header: Hire Great Employees Who Can Grow With Your Company Article Headline Image: Hire Smart People Blurb Text: We live in a world filled with skilled labor. Unfortunately, most of us aren't equipped to recognize it — especially those of us running our own companies. So we take shortcuts and hire bad employees instead. Then we spend tons of time training them and hoping they'll develop the necessary skill sets. But it's too late — a lot of wasted effort that could've been avoided had we made better hires sooner. Don't make the mistake of wasting your company's precious capital on unqualified candidates — learn the secrets to spotting real talent early on and avoid costly mistakes. These tips will enable smarter hiring decisions that put your organization ahead of the competition. Read the full post → Photo Credit: Pixabay Image Dimensions: 640 × 1136 pixels Full Size Photo Link: https://www.
How to find Your New Lanark County Home or Condo
Why Should I Invest When Buying Or Selling A Property If Not Yet? When buying a property whether you're renting or owning already, why should I invest in real estate when it's already doing well? In this article we'll discuss different types of investors: passive income, value investing, growth investors and REITs who buy properties because they believe in long term appreciation. These investors will be interested in knowing which areas have high potential and are still relatively undervalued. How Can I Profit From An Undervalued Area Where Others Have Purchased But Not Moved Into Them? If I own real estate but just sitting idle waiting for prices to go higher then my tenants come knocking asking me how soon can they move in. Do I answer them? Of course I tell them to wait until the price goes up. Why would I say anything else? After all, I could move them sooner than them paying rent themselves. So I sit back and hold onto these areas till eventually after years pass people decide that area isn't so bad anymore and begin moving in. At which point it was way earlier than planned and I get rich while everyone I sold the house to loses everything. Is it fair to sell someone something that you knew wouldn't appreciate and profit from? Absolutely not, but unfortunately sometimes things must happen like this to protect yourself from becoming a victim. So how is investing better than just letting real estate appreciates naturally? Because you're getting paid a fee upfront to find those opportunities instead of letting other people pay you. Once found, you've got your foot in the door, making money hand over fist without lifting a finger once you've found that area and know exactly where to place houses. This is how most millionaires built their wealth in the early 1900s. Today many companies offer similar services, such as Zillow's Rentals platform, however I am personally focusing exclusively selling homes and condos and am going into these markets myself. As a result, I know every single person in each market I'm working that makes it easier for me to identify potential buyers/sellers and put together deals quickly. Another benefit to being involved in real estate, regardless of whether you're investing or not, is having the ability to pick the best neighborhoods or areas across Canada. Many regions are known for specific assets, industries or amenities and some regions become popular due to an influx of residents. For example, a region close to Toronto called Markham attracts families wanting to escape urban sprawl. They seek affordable housing, good schools, green space and a convenient location near York Region Transit lines. However you want to invest, having knowledge about local markets helps immensely. What Areas Will Be Popular 20 Years Out And Will Still Appreciate By Then? Areas of interest include communities located in rural settings, townships or large cities along lakes, rivers or railways. Places near airports or universities tend to see strong demand since students often move away to pursue career paths. Some of the best communities for retirees are ones that provide safe living options as well as medical centers and shopping malls nearby. Also keep an eye on what's happening around your community today and what trends are coming down the road. Communities undergoing revitalization projects usually...
Why is Ontario's Real Estate Market Booming?
When choosing a real estate agent, ensure they understand your objectives, provide adequate communication during negotiations, and demonstrate knowledge in local market trends. Learn how to select an experienced agent who will represent your interests and help sell/buy property at today's values. Areas near good schools, parks, shopping centers, highways, transit systems, etc. typically attract higher demand and better prices than other properties. They're often considered desirable due to factors like lower crime rates, less traffic congestion and generally cleaner environments. These areas usually appeal most strongly to families, professionals, singles, seniors, small business owners, young couples, investors (realty development), long term renters, first time buyers, builders, developers, students attending colleges / universities, newcomers and retirees. As well, many realtors specialize in certain niches depending on location and client profile preference. Some common specializations include; residential sales only, office sales & rentals only, luxury homes and waterfront estates, commercial sales, industrial land and vacant lots, short sale listings, foreclosures, rental houses / condos, townhouses / apartment complexes, farmland, rural land, mobile homes, second mortgages, home equity loans, government subsidized housing, multi family dwellings, condominium conversions, high rise buildings / apartments, single unit residences, vacation rentals, and more. [IMAGE: Real Estate Agent Image] What Is A Buyer's Brokerage Fee And Why Do I Need One For My Purchase Of An Unfurnished Property On MLS Listing? Buyers' brokerages fees range anywhere from $0 to 4% of purchase price of a given asset type (eBay, eBay auctions, Amazon Marketplace). Fees apply whether an actual buyer buys through the brokerage or not. Most brokers charge extra unless you are already purchasing via another listing portal (ie Zillow.) Your own lender should be able to tell you what this fee would cover under mortgage insurance premiums. If not, get preapprovals online and confirm these figures. For unlisted non-MLS properties, agents can negotiate commission terms without a written agreement, but some agents offer these kinds of services anyway because it costs them nothing. Make sure you ask questions regarding service expectations prior to signing an agreement which includes "the seller" (agent, owner or both) providing full disclosure statements and copies of necessary documents including contract information, title policy statement, escrow instructions, legal description maps, current utility bills, etc.. Once you've signed an Agreement, either party should immediately notify each other upon finding an issue requiring resolution or changes to agreement terms. [IMAGE: Realtor image] How Much Should I Pay For Insurance Protection After Purchasing A Condo Or Townhouse? Rental coverage pays for damage caused by tenants, fire, windstorms and earthquake risks. Renter's policies cost 2%-7%, while landlord’s pay 5%-$10%. Coverage limits vary widely among companies, but tend to average around $200 per square foot, meaning $5,000 total per dwelling for landlords. Ask your REALTOR® for details. Also see: Can Rentals Be Insured Under my Own Policy? Landlord insurance pays for loss caused by vandalism,...
New Construction Investment Opportunities in Lanark County Ontario
Lanarkshire has an active real estate market which includes residential & commercial property sales. Our office will be happy to help you find suitable properties for sale that match your search preferences. For example, single family homes, multiple dwellings including condos & townhomes; new constructions including high quality prebuilt developments like apartments & condominium buildings. Or perhaps you're interested in a larger acreage land or rural lots & farms. All these choices are available in various price ranges starting anywhere from $50K-$1M+. We specialize in assisting Buyer's who prefer buying direct from Builder/ Developers through exclusive listing agreements. We understand first hand the importance of choosing the most appropriate agent & Realtor for your specific needs. After all, they represent us to potential Sellers, buyers & investors of real estate properties. So why bother with anyone else? At XONDO, we believe that selecting the best professional team for each transaction can significantly increase your chances of closing successfully. Your realtor should possess knowledge of local area markets & real estate trends, current listings & availability information, property records & recent transactions that impact value & timing decisions along with an outstanding network of contacts & relationships locally, regionally, nationally & internationally. They must maintain the highest level of professionalism while providing exceptional service & client satisfaction. These traits combined allow them to deliver superior results for both sellers and buyers. A knowledgeable REALTOR helps you avoid problems as well as making informed financial decisions regarding the purchase of your next home. Having this experience can provide peace of mind during negotiations & ensure that the whole process goes smoothly. The following table lists some key criteria of qualified agents. [IMG SRC="http://i2.wpimg.netdna-cdn.com" width=640 height=360][URL=https://www.xondosalesandassoc.ca/?gclid=CjwKEQ3bzk0BMCFU6W8ALp7JIaHqcFw_uNl4YnhSfRX9n7ZvJWx5u8r8eoPmVrLpVb5yUiBm4iAgDXMAARDEAAABcBnTgAAAAAElFTkSuQmCC"] REQUIREMENTS OF QUALIFIED AGENTS FOR REAL ESTATE PROFESSIONALS To qualify as a Qualified Agent under the Provincial Government's definition a person requires: 1.) Successful completion of a course approved by the Ministry; 2.) Successfully passing a test offered by the Board; 3.) Completion of annual continuing education requirements every 2 years 4.) Submission of proof of registration with the OBA or MIPO 5.) Possession of an Active license with no disciplinary actions against licence holder. For further details please contact us at info@xondo.org or call 705 932 8900. ...
Examining Real Estate Market History in Ontario
When searching for a place to live, you probably already have some ideas of what type of location will fit better but there are still questions to answer first. Do you prefer city life versus country quietness or proximity to shops and services? Or perhaps you're after something smaller than a house yet large enough for privacy and amenities closeby. Whatever your needs in regards to living spaces, these 5 tips should help you decide which communities around Lanarkshire are worth considering. 1. Location is Everything Consider everything else aside and pick a community near the things you love most about your area. For example, if you like hiking then Lanark County's many beautiful parks should be high on your priority list. If you enjoy shopping malls, restaurants or entertainment venues, they are often located close to each other making them easier to get back and forth. Even the distance travelled daily matters because how far away you drive every day adds up quickly. Think carefully about this factor when determining whether certain locations are worthwhile to visit. 2. Check Your Local Zoning Guidelines In order to determine whether zoning laws permit multi family housing, check out our local real estate section for details. While single detached homes are allowed across almost all municipalities in Lanark County, multiple dwelling units are usually only permitted in rural areas and along transit routes. When thinking about buying property, consider the amount of space you'll actually get for your money before committing to a purchase. If you want a big backyard that could be ideal in terms of having friends and family over, however, finding land that fits those requirements won't happen easily without doing some research beforehand. 3. Find Out Whether There Will Be A School Catchment Nearby You'd expect schools would play a part in your decision making but sometimes these factors aren't taken into account until your offer stage arrives. Some realty agents have strong pull regarding getting good schooling districts so it pays to ask early and avoid disappointment later on down the line. 4. Research Community Amenities & Services Before Making An Offer While school zone is obviously going to matter, consider nearby facilities once you've made up your mind about where you wish to live. Do you envision a child needing to travel long distances everyday to different types of places and/or services? Is the nearest hospital accessible via road or does it take time to reach? Does the community seem safe while walking to destinations or during the evening hours? These aspects aren't just relevant for children either. As adults, you may desire peace and quiet but be willing to walk further to save money or spend less when you shop. The point is simply to find the perfect balance and ensure you're happy with the options available to you. 5. Speak With Neighbours Early On In Order To Avoid Disagreements Later On This final tip relates specifically to finding people who live next door and isn't always considered when deciding where to buy a home. But being able to speak freely with neighbours before signing anything makes it easier to prevent issues arising in the future. Ask if there are specific rules they would like you to follow that could impact your ability to move in immediately. Consider asking neighbours if you should pay rent on common grounds or whether you should keep pets inside...
Getting approved for your New Home Purchase in Lanark County, Ontario
Lanarkshire real estate prices continue to rise and investors are taking notice. If you’d like to invest in Lanarkshire property then this article will help you decide whether investing in Lanarkshire condos, townhomes or single family homes makes sense for you. We break down everything you need to know to get started including the different types of Lanarkshire properties available today, costs associated with buying, selling, and renting, and tips on getting preapprovals for mortgages and financing options. We hope this comprehensive resource helps you navigate through the complexities of Lanarkshire real estate investing. For additional information please contact us today. What is a Condo Investment Property? Condos are great investments because they provide stable rental income while allowing owners to live somewhere else in case things go south with the business. This way you won’t suffer the financial stress of losing your entire life savings. Plus, condos offer better returns than rentals due to lower operating expenses and increased demand in the area. There are many ways people can buy a house. Some prefer to use mortgage loans which allow you to borrow against the value of your home. Others choose to purchase equity. Equity refers to how much extra cash you own above what you owe on your home, in other words the amount you could sell. If you choose to take out a loan, a lender will calculate how far your monthly payments would be in relation to your current debt levels. Once they determine that, they can tell you exactly how much equity you have left after paying back the principal and interest each month until your loan matures. How Much Does Buying A House Cost? The cost depends entirely upon location and condition of the home. There are several factors to consider when determining how much a home will cost: Location: Location matters. Where you want to move determines how much a home costs. Condition: Older homes tend to cost less than newer ones. Homes built during periods of prosperity generally hold a higher price tag. However, some buyers find that older homes offer stability. Size: Larger houses generally command larger prices than smaller ones. Age: Houses built prior to 1990 typically carry a higher average price per square foot than those constructed in recent years. In addition to size and age, the quality of materials used to construct the structure may influence how much a home costs. Is Owning An Investment Property Profitable? Yes. Investopedia defines “investment” as something that provides long term gains. A good example of this is stocks or bonds that generate steady dividends over long periods of time. When investing in a home, the return on investment (ROI) refers to how fast the owner receives profits after making initial capital outlays and ongoing maintenance fees. ROI takes into account depreciation of the house. Depreciation refers to reducing the worth of the asset as time passes. Depreciation rates vary depending on the type of investment property you select and your geographic region. Generally speaking though, you should expect the rate to be around 4% annually. When considering a condo versus a regular house, you should factor in both upfront costs and annual maintenance fees. Upfront fees include the...
What makes Xondo Ontario's Most Convenient New Condo/Home Buying Platform?
Lanarkshire is Canada’s most affordable county. This is due to its small size and proximity to Toronto. The average price per square foot in Lanarkshire ranges from around $100-$200, which puts this region close enough to downtown Toronto but still far away enough to provide a great quality of life without the high property taxes found in some other parts of North America. This makes Lanarkshire ideal for those who wish to live outside of the hustle and bustle of big cities, while being just a short drive away from everything they could ever possibly desire. If you're interested in finding the perfect place to settle down, then check out these tips below. 1. Location, location, location When it comes to choosing your next residence, location should be top priority. If it's possible, try looking near parks, green space, shops, restaurants and schools. 2. Size matters Don't forget to consider how large of house/apartment space will work well for yourself. A larger living area is often better than a smaller one. A bigger kitchen will allow you to cook for guests. And having a laundry facility and parking spot nearby will help ease daily chores. 3. Do I really need a yard? Many people enjoy gardening, landscaping, playing sports, taking care of pets and spending time outdoors. But for many homeowners, yards simply take up valuable real estate on the land. 4. Check the neighbourhood Neighbourhoods have different personalities. Some areas are known for crime rates, whereas others boast of beautiful views. Make sure you find somewhere that suits both your needs and lifestyle. 5. Is my commute worth it? Living in the city may mean long commutes to work every day, especially during peak hours like rush hour. However, a short drive to a commuter rail station means less traffic congestion and fewer delays. If you have children in school, be aware of whether they attend a good local school system. 6. Consider safety first Make sure the building is secure and safe. Find the most reliable locksmith company in town so you won't end up losing thousands of dollars after buying a new residence only to realize your door was left unlocked. Also, ensure you feel comfortable in the surrounding areas. 7. Don't overlook the utilities When searching for a new home, make sure that it includes basic necessities like running water, hot showers and heat. These things aren't necessarily luxuries, but they are certainly nice to have. 8. Ask your builder about warranties Some builders offer warranties against faulty materials or workmanship. Be sure to ask your builder if they cover any defects that occur during construction, and how long your warranty lasts. 9. Get preapproved for financing Before starting the search for a new home, get preapproved for financing. This way, you'll avoid wasting time on homes that you cannot afford because of financial restrictions. 10. Keep track of offers Once you've narrowed down the search to a few locations, keep tabs on them. Follow along online or call to stay informed on the status of each home as it progresses through the sales cycle. 11. Be patient...
How Xondo makes Home Buying & New Construction Investing in Lanark County Easy?
If you live anywhere else but Greater Ottawa Valley region you probably heard that home prices dropped across Canada during 2019 due to a combination of several factors including tight lending conditions, rising interest rates, increased supply of homes for sale, and, in some cases lower demand because of the COVID-19 pandemic. All this led us to believe that 2020 would be another down market like 2018 and 2019 in terms of real estate markets around the country. However, the situation could reverse quickly after the initial shock wears off. We expect sales and average days on the market will increase significantly in the coming months once people return back to work which should lead to price increases again. For many people who thought they couldn't afford to buy a house during the economic crisis, the housing affordability challenge won't go away overnight. Here's why: Low income earners still face significant barriers to buying a single family detached home. Many young adults earn less than 50% of median household incomes. They often struggle with high debt loads and little savings to support them. As long as we're making mortgage repayments, we'll always spend money trying to pay those mortgages and put food on our tables—rather than saving to purchase a dream home for ourselves. These trends show no signs of changing anytime soon. So what are we doing differently at XONTO that makes investing in our communities easier? XONDO uses our knowledge gathered through extensive experience working closely with clients and developers to find properties for buyers with varying budgets and needs. Our team of brokers takes special care to understand each project's unique attributes and how these relate to potential buyer characteristics. By combining our local expertise with that of other national experts, we ensure you get accurate information tailored specifically for your home search criteria. Our research teams use proprietary algorithms built in-house to analyze hundreds of variables related to both property value and location and provide instant suggestions on a range of options available in your neighbourhood. And finally, XONDO offers a comprehensive selection of listings for buyers to view online. So whether you're ready to invest today or tomorrow, XONDO wants you to take advantage of the opportunities presented every day. Whether you decide to move forward immediately or wait until things settle down, the possibilities waiting ahead are endless. [IMAGE: Real Estate Listings Page screenshot showing all listed Properties] Home Selling 101 | Preparing Your House for Sale The key steps involved in selling your current abode include determining its true worth, finding motivated sellers, getting pre-approvals through lenders and negotiating a fair contract with prospective buyers. But in order to get started, you first need to prepare your property by taking it inventory. Take A Picture Every Room | Photo Credit: www.bricolephotography.ca To avoid problems, take pictures of everything inside your house and record measurements. Having images and measuring tape handy will help prevent you from underestimating space sizes and paying extra fees for items in storage. Don't Make Assumptions About Pricing When preparing to sell your home, it helps to have a ballpark estimate of an asking price. If possible, enlist the services of a professional agent so he/she knows where your home stands against similar ones in the area when setting an asking price. Knowledge...
How To Make Money On a New Home or Condo Purchases in Lanark County, Ontario
If you live outside of Ontario or Canada, then this article isn't going to be able help you, but I thought I would leave some general rules anyway since they seem applicable no matter where in North America you're located. Here's my top rule for buying houses in Canada: Buy only in places that pay cash; cash buyers get paid first. If you buy a house without paying full price upfront, you'll always come out way behind other potential buyers who bought with financing, especially during periods like today, which tend to see lower interest rates than usual. Also, many mortgages include prepayment penalties that penalize early withdrawal, and these will usually apply whether you've got cash or credit available to finance the deal. So buying real estate without getting preapproved for a mortgage is almost impossible unless you have the extra capital lying around already -- something most Canadians can't afford to do. But if that's just not possible for whatever reason, then you're left with trying to find properties that sell quickly while keeping costs down. There really aren't many options in Toronto and Vancouver because those markets tend to be flooded with sellers willing to accept less than asking prices due to tight inventory situations and high demand levels. But in smaller cities like Windsor, Hamilton, Barrie, Peterborough, Oshawa, Sarnia and London, you should be able to land some good deals even though prices won't necessarily move fast. If you're thinking long term, consider investing in rental property instead of buying, at least initially. Buying a property takes years of saving, while renting one requires little initial input except finding tenants willing to rent to you. Rental incomes compound faster than regular salaries (and unlike salary income, rents go back towards purchase prices when the tenant leaves), allowing you to accumulate savings far quicker than through traditional bank loans. Plus, the value appreciation you get when you eventually own that place will likely exceed anything gained from a conventional loan, assuming inflation doesn't cause your property values to fall significantly in the meantime. And finally, owning a property gives you some security in retirement if you ever decide to stop working altogether and not worry about living expenses anymore. It's true that most rental investors lose money overall, but this risk is offset by the fact that it's easier to earn passive monthly returns on stocks or bonds. For example, according to Bankrate, the average investor loses money after 10 years of ownership on both stock market investments (2.3 percent return per annum) and bond funds (1.7 percent annual rate). By contrast, rental investors enjoy steady gains averaging 1.9 percentage points every year over 20 years. One final word of caution: be wary of "foreclosure" scams. These are generally advertised by email and text message claiming that someone else owes a huge debt on a certain piece of property, and offers to "buy your claim". While it makes sense to avoid being scammed, it's actually perfectly legal under Canadian law to offer to take title to your neighbor's house if he fails to repay his mortgage obligations. It just involves filling out forms and signing documents transferring a few dollars' worth of paperwork between two individuals. So even if you receive emails promising to "save you hundreds of...