Buying my next home

Making the right purchase

Whether you're looking for a larger house, vacation house, investment property, or downsizing, we can help you get there.

Buying a new home

Selling your current home and purchasing another is an exciting experience accompanied by its own set of unique steps and questions, including the management of your existing mortgage. Here are some tips and considerations when you buy your next home.

  • Understand what penalties, if any, there are to payout your existing mortgage
  • Know if your mortgage can or cannot be ported to the new property
  • Understand what the closing dates and funding requirements are to purchase your new home
  • See if you will require interim financing and understand how much this could cost you
  • Be prepared if the purchase of your new home or the sale of your old home fall through
  • Work with a CWB Account Manager to obtain pre-approval for a guaranteed rate
 

Buying an investment property

The purchase of secondary investment or income property can be a sensible, and profitable, addition to an established portfolio, though there are several things you should consider before taking the leap.

  • What do plan to do with this property? Will it supplement your current income with revenue from rent? Or do you plan to resell the property to take advantage of a strong housing market, including the possibility of renovating. Your investment plan should be determined by your available time, resources and knowledge
  • Understand how the addition of another property will impact your portfolio. Do you run the risk of having too much exposure in real estate versus other types of investments?
  • Can you leverage your current homes existing equity? CWB’s HOMEWORKS®  tool is a flexible and effective tool to turn your home equity into purchasing power