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Owning a vacation, or second home is now more attainable than ever!

Mortgage Tips Jordan Perry 8 Jan

Owning a vacation, or second home is more attainable than ever!

Due to COVID-19 and social distancing, many of us have been cooped up in our houses, stuck in the city, not able to go on vacation, or spend time with loved ones. Why not explore other options of family getaways by owning a vacation property? Do you have kids that are off to school in another area? Residence fees are expensive, and once they move on from residence, where do they go? You could purchase a home for them to live in, and it wouldn’t cost you nearly as much as you would think.

Real estate as an investment for you future

In these uncertain times, its hard to know where to put your hard earned money to have it grow into the future, but real estate is one of the most recession resistant assets there is! Many people nowadays are moving away from the stock market and into owning real estate as an investment for the future. On top of being recession resistant, homes appreciate in value, meaning that your return on investment is much more likely to surpass traditional stock portfolio returns and rates of inflation, which protects the asset that you can enjoy and share with your family for many years to come.

Owning a second home is an attainable dream for many Canadians

Have you ever dreamed about owning your own vacation property, cottage, or second home? Now, with this program from Sagen, one of Canada’s mortgage default insurance providers, it is more attainable than ever! This program allows home buyers to put as little as 5% down on a vacation or second home. What does that mean for you if you already have a property with mortgage insurance? No problem. Sagen allows up to 4 properties owned to have this mortgage insurance, which is what allows you to decrease your down payment to as low as 5%. Maybe you are working from home, but are in dire need of a change of scenery? This program may be a perfect opportunity to get away for an extended period of time. Let’s make the most of this new “normal”, by working remotely steps away from the beach!

2020 was a rough year, but with opportunity like this, you could make 2021 your best year ever! Reach out to your real estate agent and mortgage broker for a free consultation to see if this may be the perfect fit for you and your family.

Thanks for reading folks, and as always, don’t wait to buy real estate, buy real estate and wait!