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President's Toronto Star Column

TREB President's Column as it appears in the Toronto Star.


How To Make Informed Home-Buying Decisions: TREB

February 28, 2013 -- Perhaps you are feeling insecure about your knowledge of the financial implications of homeownership.

Homes are a major asset, and for most Canadians, represent the single largest financial investment of their lives - and most buyers must finance their purchase using some form of credit. While homeownership can be a significant source of equity over the long term, Canadians need to remain vigilant about their finances at this critical decision point in their lives.

In a recent survey commissioned by The Canadian Real Estate Association (CREA), 70 percent of young Canadians between 18 and 29 indicated a “major need” for more information about the financial implications of buying a home. This figure is particularly meaningful as many in this age group are on the cusp of buying a home for the first time, and need to make informed financial decisions about their future.

Many homeowners with locked-in rates may not feel the impact of market fluctuations until their mortgage comes due for renewal. Buying a home is always a big decision. Whether it is your first time, or your third or fourth home, it is a big investment that warrants careful financial planning and consideration.

Representing 35,000 REALTORS®, TREB recognizes members of organized real estate have an important role to play. We are homebuyers’ first line of contact, and as such, we need to continue using our knowledge and expertise of the home buying process to empower Canadians to make informed financial decisions. 

REALTORS®, and their national association CREA, have collaborated with the Financial Consumer Agency of Canada (FCAC) to develop and provide a resource for Canadians to help them more easily understand and navigate the home buying process. The Homebuyers’ Road Map* outlines the financial aspects of the home buying process as well as the importance of negotiating with lenders and utilizing government programs. Our industry’s goal is to empower Canadians with knowledge, skills and confidence to make responsible financial decisions about homeownership, one of the most significant financial and lifestyle decisions most will ever make.

*The Homebuyers’ Road Map is available free of charge on www.CREA.ca/resources.

Ann Hannah is President of the Toronto Real Estate Board, a professional association that represents 36,000 REALTORS® in the Greater Toronto Area.

Follow TREB on www.twitter.com/TREBhome, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

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Archive
Note: All links are PDF files

 2013
February 11 Toronto Hydro And TREB Partner To Make Moving A Little Easier
January 7 TREB Recognized Outstanding Commercial Buildings
 2012
December 14 New mortgage rules have affected home sales
December 3 Navigating Your Way Through Canada’s Housing Market
October 19 REALTORS® Strongly Dedicated To Continuing Education
September 26 REALTORS® Help Consumers Find Great Places To Live
September 7 Continue Education Equals Professional REALTORS®
August 31 Building A Better City
August 2 REALTORS® Really Know How To Help
July 9 TREB Committed to Community Building
June 18 TREB Recognizes Commercial Builders
June 6 Home Ownership Can Be A Formidable Challenge
May 25 TREB Is Standing Up For The Privacy Rights Of Homeowners
 2011
October 4 Realtors Care Foundation supports shelter-based organizations
September 16 Buyers beware in real estate purchases, too
August 20 Termites are a hidden problem
June 17 Ford Needs to Follow Through on Election Promise
June 12 TREB Moving Ahead With New Technology
June 1 Realtor Quest Was Huge Success
April 30 Buying a Condo Posses Some Unique Queries
April 8 Search for a Home Can Be Challenging
March 25 Parking red tape should be streamlined
March 4 Toronto needed to clarify parking rules
February 26 Some home improvements will pay off big
February 11 Taking steps towards homeownership
January 28 Taking steps towards the repeal of the land transfer tax
 2010
December 3 Misconceptions about the HST
October 2 Clearing up HST confusion
September 10 TREB: Energy efficiency for all homes, new and old
August 13 Making sense of housing statistics
August 6 TREB: Save HST with re-sale housing
July 30 TREB: Housing options are as diverse as the city we live in
July 23 TREB: Realtor's access to databases can assist with home search
July 16 There's no Investment Like a Home
July 9 HST will not affect resale homes
July 2 TREB: HST will not affect resale homes
Jun. 25 Celebrate Diversity during Pride Week
Jun. 4 Mayoral debate highlight of realtor conference
May 21 Set budget for moving expenses
May 14 Spring buyers boost GTA home sales
Apr. 23 Each local market has distinct character
Apr. 9 Important to understand terminology
Mar. 26 REALTORS® continue to educate themselves
Mar. 12 Housing sales typically heat up in spring market
Mar. 5 Careful renos can increase home value
Feb. 26 Some simple steps to energy efficiency
Feb. 19 REALTORS® step up to help Haiti
Feb. 12 Some encouraging news and numbers
Feb. 5 Action on Land Transfer Tax could offset the HST
Jan. 22 Year will see listings rise, price growth moderate
Jan. 8 Number of benefits to LEED-certified condos
 2009
December 18
Jan. 1, 2010
Steady flow of newcomers buoys demand for sales / Immigration helps drive housing market
December 11 REALTORS® routinely give back to their community
December 4 REALTORS® have skills to help with Rental Needs
November 27 REALTORS® have many resources
November 20 Sales still hot despite cooler weather
November 13 HST will raise cost of living, buying homes
November 9 GTA Real Estate Market Soaring