Approximately 68% of Canadians own their own home. Congratulations – you are one of them!
You got the keys, unpacked, and had a chance to take it all in. What an amazing place to be.
You may be asking yourself if your relationship with your mortgage broker ends after closing day? To us, it is just beginning because owning a home is an opportunity to build wealth while giving yourself options. We are here to help you navigate your options to get the most out of your investment.
The National Association of Realtors predicts homes will increase 5% in 2022 after a record breaking 2021 with 10%+ growth. This is incredible growth in a short timeframe.
Real estate builds wealth more consistently than any other asset due to appreciation, cash flow, equity, and leverage. As we work through the process of securing your mortgage, we get to know each other (our favourite part). We will understand your financial success and struggle and be able to work together to build your wealth one step at a time.
These are the top 5 ways we can continue to work together to build wealth:
#1 Long-Term Financial Growth
Homeownership builds long-term financial growth through appreciation, especially in the GTA. Homes increase in value each year, and that number varies depending on the neighbourhood, city, and style of home. Overall, the GTA has seen consistent growth for the past number of years. When it is time for your mortgage renewal, we work together to ensure you have the desired term and rates to match your lifestyle goals.
#2 The Power of Equity
Equity in your home builds with the value. Equity is the difference between how much your home is worth and how much you owe on your mortgage. Every situation is unique depending on your overall financial picture, but most homeowners can access home equity by refinancing or through a line of credit to take advantage of the low interest rates. You can use the equity in your home to pay off higher interest debt, consolidate debt, pay for a child’s education, a renovation, or dream vacation. Using the equity in your home keeps your payments low and allows for one payment instead of juggling several bills. Bonus!
#3 Home Office Advantage
Do you have a home office? If so, your home will offer you a tax benefit by writing off the percentage of your home and utilities that contribute to your work. This is most beneficial for entrepreneurs, self-employed, or sales and commission-based positions but is not limited to these positions. To maximize on this one let’s chat about your situation and how you can benefit.
#4 Unlimited Renovation and Decor
Don’t you love the freedom to make the space your own without checking with the landlord! This is a huge benefit of homeownership – YOU ARE THE BOSS! You get to decide if you want to renovate, change anything, paint, or decorate inside and out – you are only limited by your imagination. When thinking about making changes that dip into your finances, we can strategically use your home to finance the renovation. Amazing, right!? There really are so many possibilities and so many ways we can help. Together we can make your home beautiful without breaking the bank.
#5 Stability and Pride of Accomplishment
Above all else owning a home provides stability, comfort, and pride of ownership. You got yourself a place to call your own, to make memories, to live and grow, and to rest at the end of the day, and that is something to be proud of.
At Gail Sylvester Mortgages we are here to help you navigate the world of mortgages with informed decisions based on all your options. We are MORE than just mortgages, and we can’t wait to get started!