home buying

Various Ways to Buy a Home Today

Too often, people find buying a home being a big deal and a financially draining process. However, this no longer needs to be the case as with the right information, tips, strategies, and ideas, buying a home become effortless. For starters, it is worth noting that becoming a homeowner comes with its own set of responsibilities. Contrary to the opinion of most people, a home does not necessarily guarantee that it is a good investment. This is why it necessary to explore the various ways to buy a home to avoid the common pitfalls and mistakes made by homebuyers. The good news is that b1homes.com.au is the best start point to make the right decision when planning to buy a home. The most common options include the following:


mortgageThe most common way through which homebuyers buy their homes is through mortgage. These are long-term loans given to potential homebuyers and are repaid over a long duration, such as 20 years. The best thing about mortgages is that they are relatively affordable in comparison to other loans. These loans are less likely to lead to financial burdens, as the repayments are low and spread over a long time. The only setback is that they take long to repay fully and if not well managed, they can easily lead you to face financial challenges especially if you do not have a definite source of income.

Credit union financing

If you are a member of a credit union, you can apply for financing to buy your home. Credit unions operate on different principles and policies. As such, it is possible to find credit unions whose policies and terms of financing are lenient and more flexible than other unions. Credit union financing is convenient and viable for people with little or no money for down payment. This is because some credit unions provide full mortgage financing hence no need of having a down payment.


Cash is probably the least used option when buying a home. This is arguably because it is reserved for the well-off in the society; those with several hundred thousand and millions of dollars in cash to pay for a new home. However, cash is the best way to buy a home since cash buyers get a good discount on the purchase price. In addition to this, there are no detailed steps and processes involved when buying a home for cash unlike when applying for a loan or mortgage.

Shared ownership

house buyingThis is a unique way of buying a home. When using the shared ownership option, you purchase a share of the home you are buying; mostly between 25-75% of the home. Local housing associations or local councils offer this option. For the part of the home you will not purchase, you will be required to pay a monthly rent of up to 3%. This option is relatively affordable to people with numerous financial responsibilities and may be unable to purchase the whole home at once.

It is worth noting that for the average person, a home is probably the most expensive and highly valued property they will ever own. Due to this, you need to be careful when purchasing the property of choice so that you do not fail to pay for the home in full, especially if taking a mortgage. This will save you the trouble of facing a foreclosure.

What To Look For When Searching For Houses IN GTA

At one point in life, we all wish to have our very own house. As such, most people tend to start saving earlier on in life so as to make the initial down payment required for one to take a mortgage. However, getting your financials in order is just the first step towards owning a home as there are quite some steps and factors that need to be considered before one can get the perfect home. For residents of the greater Toronto area search for houses in the GTA. The following is an overview of some of the most important things that need to be considered when searching for houses in GTA’.

Homeowners Concerns



Security tops the list of factors that come into play when searching for the perfect house. Getting a house in a secure neighborhood is the hope of every individual but how do you know if an area is safe? For starters, an inquiry at the local police station on crime rates in that locality will give you a picture of to expect regarding security. Alternatively, you can also opt to carry out an online search for the crime rates within a given locality so as to get a clearer picture


When searching for houses in GTA, you should also consider the transportation system within the area the unit is located. As a rule, you should try to ascertain if the existing public transport system and infrastructure will satisfy your needs so as to avoid being inconvenienced when commuting to work or incurring high transport costs

Social amenities

iuhiudfzchuhp87ihghiuhSocial amenities should also feature prominently in your list of factors that should be considered when looking for a house in GTA. The term social amenities is quite broad in meaning and incorporates quite some facilities some of which include shopping centers, parks, schools and even health facilities. As a rule, you should go for a house that is close to social amenities so as to avoid incurring excessive costs when accessing these facilities


You most obviously have a budget and wish to stay within your budget. To be able to stay within your budget while at the same time getting the best house, you have to carry out an extensive search for the most appropriate home that meets your preferences. Try and come up with some viable options and conduct a cost analysis so as to arrive on the most cost-effective option that is within your budget

By considering the factors mentioned above when searching for houses in GTA, you are assured of getting the best home within GTA