The top three stressors in life are: (1) Death of a loved one; (2) Divorce; and (3) Moving. Buying a home can be bundled into the likes of Moving and can be difficult without the help and support of professionals. Now throw in the mix of buying a home for the first time... feeling overwhelmed would be an understatement.
We stumbled across this First-Time Buyer's Workbook (published by Canada Guaranty) and wanted to share it with all of our blog readers. We're loving the simplicity of the guide but the best part? It's interactive and has worksheets that help you crunch the numbers. Starting on page eight (8), you'll find the following worksheets:
- Calculate Personal Finances
- Calculate Your Down Payment
- Plan for the Upfront Expenses
- Calculate the Cost to Maintain Your Home
- Plan for a Lifetime of Homeownership
Each worksheet will take you through the expenses of owning a home, how much it will cost (not just now but into the future), and what types of "fixes" to expect later down the road. Crunching the numbers now will save a whole lot of headache later so do it now.
Of course, if you have any questions about home ownership or buying your first home, we're more than happy to answer them!