Our commitment to your satisfaction continues to be the foundation on which we build. Contact our sales office to learn more.
You can send us any questions via our online form located here.
Cardinal Creek Village Sales Office
(613) 830-8467
Findlay Creek Sales Office
(613) 822-1101
The Meadows Sales Office
(613) 692-0500
Idylea & Westwood Sales Office
(613) 831-1357
Kingston Sales Office
(613) 701-4000
If you’re already a home owner, the process of buying your next one is a much different experience.
Whether your family is growing and you’re looking to upsize, downsizing to something more manageable, or are looking to purchase an investment property, your motivations, finances, and position in life have all likely changed since your first buying experience. This guide is designed to help you navigate some of the major steps of this transition with confidence and strategy.
The first step is to identify the motivations behind your change as this will help guide every other decision made during the process.
After a while some homeowners find that their life has simply outgrown their current home. Perhaps your family has expanded, you’d like an office or spare bedroom, or you’re simply just looking for something with a bigger yard for the kids and pets to play. Whatever the reason, your current home isn’t the spacious place it once was. Upsizing is about more than just finding a bigger space, it’s about finding a comfortable and functional home that meets your needs now and into the future.
When upsizing some key things to consider are:
Upsizing will help to give you some extra space to live and grow. It’s more than just simply buying a bigger home, it’s investing in a space that is better suited to your current needs and lifestyle.
At the other end of the spectrum there can come a time when your living space is just a little too spacious. Maybe your kids have grown up and moved out on their own, you’re looking for less stairs to climb as you get older, or you’d simply like a little less upkeep, downsizing might be the lifestyle change you’re looking for. It often means fewer things on your to-do list, lower bills, and more time to focus on what you love.
When downsizing some key things to consider are:
Don’t look at downsizing as simply giving up space but as gaining efficiency, and flexibility while saving you money and making time for things you truly love in life.
For some buying a new home isn’t about moving in yourself at all, but is a strategic investment with a look toward the future. Real estate investment remains one of the most reliable investments for building long term wealth while offering lifestyle flexibility down the road.
Things to consider when buying an investment property include:
Investing in real estate is one of the smartest investments you can make for long term value and peace of mind.
Once you understand your buying motivation everything else becomes much clearer from the community and location to the features and layout of your home.
Your current property is your greatest asset in this transitional process. Correctly understanding its value and your best options for selling or leveraging it can dramatically affect your buying power.
When it comes to your current property make sure you:
Even an experienced homeowner can be taken off guard by how much the financial landscape and housing market has shifted since they made their previous purchase. Lending criteria, interest rates, and new products are constantly changing the way we buy homes and understanding your options earlier will help you to make more informed choices.
Familiarize yourself with:
If you currently have an existing mortgage it’s important to check whether it’s portable. This means you’re able to transfer your existing mortgage, including its rates and terms, from your current home to your new one. This can help save you thousands and preserve a favorable rate.
In the event your new home closes before your current one sells, bridge financing can help deal with this temporary gap. This short term loan helps homeowners by using the equity in the current home as collateral allowing them to secure their home even if closing dates don’t line up perfectly.
For those looking to purchase a home as an investment, you should look into investment mortgages. These are a form of loan provided to real estate investors who want to acquire properties to rent out as opposed to living in themselves. These investment mortgages typically have higher down payments and interest rates to compensate for the increased risk to the lender.
For the majority of homeowners, selling your principal residence is tax-free in Canada. This however is different for investment properties and secondary homes which are subject to capital gains tax. Always consult with a financial advisor before finalizing any plans.
Timing can often be the trickiest part when it comes to buying your next home. You want to maximize your sale price while also securing your new property and the right moment. Some options buyers have include:
A member of our team of Tamarack Homes sales representatives can help you to coordinate flexible closing dates and guide you through the ideal strategy for your situation.
After living in an older home, the benefits and features of a brand-new Tamarack build are immediately noticeable.
As you go through life your needs evolve and your home should too. Whether you’re upsizing, downsizing, or expanding your investment portfolio, the decision to purchase your next home is the start of a new chapter and deserves proper planning. Whatever your goal, Tamarack Homes offers a wide range of modern communities to fit your lifestyle.
When you’re ready to make an upgrade, make it with a builder who exemplifies quality, comfort, and care.