The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

THE HILLS Wednesday April Page Firsttime home buyers must consider personal needs This article is provided by local Realtors and the Ontario Heat Estate Association for the benefit or consumers in the real estate market If youre contemplating buying your first home do you find yourself continually torn between the pros and cons of home owner ship ready to take the plunge one day and getting cold feet the next Admittedly owning a home is not for everyone and you must consider your persona needs very carefully before taking on this large responsibility But home ownership is without a doubt one of the wisest longterm investments you can make and one of the best ways to provide for your financial wellbeing If you feel like youre experien cing the proverbial syndrome maybe you question the true benefits of home ownership and you wonder if the sacrifices youll have to make are really worth it If youre like many people you may even think there are better investments than owning a house and your best bet is to continue renting and invest your money elsewhere You may be surprised to learn however that over the long term one of the best ways to achieve financial security is through home ownership One of the easiest ways to evaluate your decision to buy is to ask yourself If all else were equal would I rather rent or own my home Its safe to say that most of us would cpt for home ownership Your decision to buy should also include a thorough assess ment of your financial situation and how well you manage your HALTON HILLS HOTLINE A Directory of Offered Services In Our Community 8772201 TRI COMMUNICATIONS Satellite Sales Service 11 Years Experience 8734881 12650 DO YOU WANT THE BEST DRINKING WATER FOR YOUR HOME We have Ins lop of the line water purification Iteration system available INFORMATION CALL -873-1119- WEED PEST CONTROL JJ ELECTRONICS Repairs to All Models of and Converters k in tout mi Estimates on AH RCA Guelpfi Street GE Unit AuttKKUKi Fertilizing Weed Control Commercial Residential Culling Insect Control Core Aorattorr FREE UPON 8775121 Fully Insured WINDOW CLEANING SALES SERVICE TVVCRSTEREO REPAIRS AM DAYS WE SERVICE EVERYTHING WE SELL HITACHI BRAMPTON COLOUR 4534455 BR PROFESSIONAL WINDOW CLEANING All types windows By month by the year Free Estimates Low Prices 5198241384 CALL COLLECT WOODWORKING UPHOLSTERY UPHOLSTERED FURNITURE Recovered Repaired T H BRIGGS 8779312 SIMMONDS W00DTURNING Quality Handcrafted Solid Wood Furniture Kitchen Cabinets OH ice Furniture Store Furniture All General Mlllworh PH 8737447 money You should realize too that a house in essence forces you to save Each mortgage payment buys you a larger portion of an appreciating investment When youve paid off the mortgage youre left with a sizeable asset r And along the way you and your family will enjoy many years of shelter security and the shared joys only a home can provide OTHER FACTORS There are two additional and related factors that make home ownership financially attractive in comparison to other in vestments leverage and capital gains exemption When a relatively small amount of your money controls a much larger asset its called leverage For per cent 15 per cent or as little as 10 per cent down your hardearned cash can be used to acquire a house worth tens or hundreds of thousands of dollars The more you are leveraged the greater the financial return on your initial in vestment l down payment as the value of your house increases For example lets bay you buy a house for with a down payment of Your house then rises three per cent in value for a gain giving you a return of 20 per cent on your in itial investment divided by 15000 equals per cent In real estate leveraging is a powerful way to make your money work for you Few other investments can be purchased with only to per cent of your own money The increase in a homes value is called a capital gain When the value of most investments such as stocks or term deposits you pay tax on the capital gain However the government allows Canadian tax payers to be exempted from pay ing capital gains tax when their principal residence increases in value For example if you live in a home that increases in value by over years you pay no tax on the capital gains when you sell By contrast you would owe thousands of dollars in tax for the same capital gain in the stodf market or other type of Investment MONEY MANAGEMENT As mentioned earlier the deci sion to buy versus rent depends on much more than just invest ment opportunities It also hinges on your ability to purchase a pro perty and keep up with the mon thly financial obligations necessary it The effort to save for and buy a home may also require you to make significant changes in your way of life Do you have the temperament to become a homeowner If youre not sure ask yourself the following ques tions Over the years have you demonstrated the ability to save money and if so are you general ly pleased with the amount youve managed to save todate Are you ready to change your spending and lifestyle habits to support the additional costs of paying for and maintaining a house Have you worked hard to earn a good credit rating and if so do you continue to use credit wisely Are you prepared to enter into a longterm commitment for your familys security both physical and financial Is pride of ownership impor tant to you Would you enjoy the chance to take care of a house both inside and out If you answered yes to these questions you may be ready to buy your very first home Its a big step but definitely a rewar ding one as many as of children with acute leukemia are alive and well years after diagnosis Cancer can be beaten Please support our April campaign 2 MILL STREET E ACTON HEATHER WHITING SCOTLAND Associate Broker 8532086 UNBEATABLE PRICEAMrn299000 Nearly square feet of superbly finished living space bedrooms fireplace and whirlpool spa in master 3 baths separate dining room leaded French doors and skylights Commercially zoned acres plus barn Call Heather Whiting Scotland at EXCLUSIVE LOCATION 299000 Sought Line location pro vides the peaceful treed selling for this newly upgraded storey and a half home New niaple country kitchen separate dining room and bedrooms Dont lust drive by see it today with Heather Whiting Scotland Assoc Broker WHAT A VIEW WHAT A PRICE 11 acre serviced ravine lot ready to build on Sacrificed at Call Heather Whiting Scotland Associate Broker at INLAW OPPORTUNITY This quality built brick and stone bungalow features a generous kitchen spacious bedrooms with master upgraded broadloom and finished rec room with fireplace PLUS a bedroom inlaw suite Take advantage of this opportunity now call Heather Whiting Scotland Associate Broker at REDUCED Ill LIVE AND WORK HERE FOR 99000 Let me show you how use the income from the apartments to pay your mortgage while you live on the main floor and operate a business too Excellent location for antiques gallery or Reduced to Call Heather Whiting Scotland Assoc Broker at RM1W4I