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Never a better time to buy new house By LIZ CAMPBELL Special to the Beaver process but it‘s also a very serious decision and a sigâ€" AT TRIS POINT YOU KNOW EXACILY WHAT YOU WANT. uying a home is an exciting TRADITION THAT LASTS . . . VALUE THAT GROWS OFFICE HOURS: Mondayâ€"Thursday 1â€"8 p.m., Closed Friday, Saturday, Sunday Holidays 11 a.m.â€"6 p.m Prices correct at press time. To qualified buyers E. O.E. Ask sales agent for details. Also building in Credit Valley in Mississauga, Aurora, Bayview Hill, Bathurst and Hwy. 7, and Creditview Hunt Club in Mississauga. _ CHANCES ARE, T‘ $ EXACTLY WHAT WE BUILD, GRAND OPENING A home you can love. A community you can enjoy. A builder you can trust. nificant investâ€" ment. A new report from the respected housing analysis firm, Clayton Research Associates, conâ€" firms that it‘s an exceptional buyâ€" Y F 32° and 36° lots Singleâ€"detached homes 1472 to 2,080 sq. ft. from $174,900 °> MODELS OPEN (416) 825â€"1140 or C.M.F. Realty Ltd. 241â€"6000 Improvement in ers market for housing in According to The Affordability, an attractive variety of mortgage options, competiâ€" tive prices and unparalleled housâ€" ing choices have combined to make housing _ more affordable than it has been in years. DUNDAS ST. WEST But, cautions the report, pentâ€"up demand is buildâ€" ing and "the curâ€" rent buyers‘ marâ€" ket will not conâ€" tinue indefinitely." Firstâ€"time buyâ€" ers can now beneâ€" *Check out all the government special plans for which you may qualify. For example, you can now borrow money frony your own RRSP (up to $20,000 per person, $40,000 per couâ€" ple) to finance the downpayment and closing costs on younr new home. Then you pay yourself the interest over the next 1 % years. This could put your dream home within your means. _ *Look at all the financing options available. If your bank or financial institution won‘t give you options, go elsewhere. Over 20 years, that extra half percent interest or less benefiâ€" cial repayment plan can mean literally thousands of dollars. Here are a few tips to prospective buyers, compiled with the assistance of the Greater Toronto Homebuilders‘ Association: *Don‘t buy on impulse. Shop around. Look at a number of housing developments offering homes both in your own and in slightly higher price ranges. This will give you an idea of what is available in the market. im *Do your homework. When you‘ve selected the builder you like best, visit some of his previous projects and ask homeowners there about their experiences. With nothing toâ€" hide they will be candid and you will quickly discover whether your builder stands behind his product. 1 By LIZ CAMPBELL Special to the Beaver Your home is the single largest purchase you will probably ever make in your lifetime, and it‘s worth taking a little extra time and trouble to ensure you aren‘t making a mistake. *Take the time to sit down and make a list of the features you most want in your new home, then take it with you when you visit each home. Check off the features available in each house so you can better evaluate them later. You‘ll find you won‘t be as easily swayed by that unusual fireplace in a house that doesn‘t meet any other of your needs. ing a home. The deadline for making RRSP w it h d ra w als under â€" another federal program, the Home Buyer‘s Plan, has recently been extended to March 1, 1994. Under this plan, consumers can borrow as much as $20,000 ($40,000 for couâ€" ples) _ taxâ€"free from their own RRSP funds for the downpayment and closing costs Corporation has reduced the miniâ€" mum downpayâ€" ment for federally insured mortgages to 5% for firstâ€" time buyers, insuring up to 95% of the home‘s lending value. Program, under which â€" Canada Mortgage â€" and fit from the First Home Loan Take time to do research before buying new home e all tell our children, "Do your homework!". But large numbers of Canadians don‘t take the time to do their own homework when it comes to purchasâ€" (See ‘Research‘ page 30) And most importantly, there are at present, a large selection of homes in all price ranges, allowing buyers an unheard of choice â€" of design, size, type Interest rates, which have a critâ€" icalâ€" effectâ€" on affordability for most homebuyers, have declined sigâ€" nificantly, offerâ€" ing substantial savings _ when compared to rates three years ago. The â€" highly competitive mortâ€" gage market has also resulted in flexibility by lenders and a range of financing options that are of benefit to buyers. on _ a home. Repayment can be made to the RRSP in â€" equal instalments over 15 years comâ€" mencing in 1995. Everything favors the buyer these days so there‘s never been a better time to take the plunge. Imagine, you could be in your own home in 1994! in a period of low. inflation and no increase in house, prices, homeownâ€" ers would still be better off than low renters in terms of their net worth in the long term. and location. Homeownershi p as an Investment, a study done last year forâ€" the CHBA, found that owning a home has been and will continue to be an excellent, capital gains â€" taxâ€"free investment for Canadians. The 1992 study conâ€" cluded that even