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PORT PERRY STAR Perfect time to buy a home If you're currently thinking about joining the leagues of Canadians who are making the transition from renting a home to 'buying one, you couldn't have picked a better time. Government incentives, combined with lower in- terest rates and a wider selection of homes have made the dream of home ownership possible for many. In fact, between one third and half of current home sales in the province can be attributed to first time buyers. With today's opportunities, many Ca- nadians are discovering that the costs of owning a home can be either lower or comparable to those of renting. If you're ready to take the plunge, consider all the options available to you. Last winter, Canada Mortgage and Housing Corporation lowered its minimum down payment requirements for federal- ly insured mortgages for first time buyers from 10 to five per cent. CMHC's First Home Loan Insurance Plan is designed to give buyers lacking a larger down pay- ment the opportunity to getinto the market. And although a smaller down payment will result in a larger mortgage, buy- A wemberdf the Sears liane Network COLDWELL CEU (cl Jel ® RESIDENTIAL REAL ESTATE COUNTRY LANE REALTY LTD. Hwy. 7A & High Street - Port Perry, Onl. 985-7351 As etegrodeatly conned md we ded combs bbe of (bbe Bote Mihir o Costs x * ers will be paying less per month than they would have a couple of years ago, thanks to lower interest rates. The new plan is slated to be reviewed after two years. RRSPs The federal government also introduced a tempo- rary incentive -- called the Home Buyers' Plan -- which gives purchasers the chance to use their Registered Retirement Savings Plan (RRSP) cer- tificates (up to $20,000 per person) to build or buy a home. No income tax is deducted from these funds, as long as they're repaid to an RRSP accord- ing to the government's repayment schedule. However, the program is only available for a lim- ited time. To take advan- tage of it, you must enter into an agreement to buy (Turn to page 3) OPEN HOUSE Sunday, November 15, 1992 from 2:00 - 4:00pm. WESTPORT ESTATES EXECUTIVE - 3/4 acres approx., lot backing onto bush with creek at rear, spacious 4 bedrooms, 2-1/2 baths, formal dining room, full finished walkout basement with pool table room and 2nd fieldstone fireplace. Listed at $289,900. Call 985-7351. Your Hostess: Jannette Peters. Directions: From intersection of Hwy. 7A and Simcoe St., go west to Old Simcoe St., then south to Aima St. and follow signs. OPEN HOUSE Sunday, November 15, 1992 from 2:00 - 4:00pm. NEW LISTING - Be first to view this 4 bedroom family home on quiet court in Port Perry, excellent floor plan, nicely decorated, move right in! $159,900. Call 985-7351. Your Hostess: Dianne Hooker Directions: From intersection of Hwy. 7A and Simcoe St., go south 1 block to Lakeview (Applevalley) then left on Orchard to 156 Blossom Court (follow signs).