One of the best answered questions I give my clients is how much money do I need to purchase my home. Most clients have done a good job seeing the minimum required is 5%. But is this the most responsible answer? In reality, no. At Robert Floris mortgage architects office we help show why from a big picture point of you, it is rather simplistic.

Year after year many Canadians do not plan and consequently they struggle with their financesBuying your first home should be a dream and not a nightmare and obviously take it seriously when you hear it is the biggest purchase of your life.

These are the key areas to consider when buying a home on top of the 5% down payment:

1. Do I have the funds for legal costs?

2. When I moved in do I have appliances, furniture and other household items?

3. Do we need money for immediate repairs and renovations?

4. Will my car need replacing soon and is it affordable?

5. Will I have an emergency account?

At Robert FLORIS mortgage architects office, we teach these principles and the best part, we do not charge and there is no obligation.