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It Pays to Know your Closing Costs

Posted on March 24, 2008 at 12:21 pm 
Filed Under Financial Planning, Real Estate

The writer of “Canadian Capitalist” wrote a great blog on the costs of owning a home.

In short, he outlined some of the key expenses that are sometimes easily overlooked causing a bit of a panic mode come closing. He also discussed some of the major expenses that we often forget about or all together minimize and cautioned us to seriously think through both the pros and cons of home ownership.

Your Take-Away: In most cases, owning a home to live in can be a great decision. What we see all too often is Canadians over extending themselves and buying larger homes then necessary. With the interest rate market over the last number of years, many have bought more home then they should have and have been forced to scrimp and save to survive their growing expenses.

Always look at all of the possible expenses you may incur, and it pays to definitely air on the side of inflating the numbers simply to safe guard yourselves from becoming trapped at home because you end up cash poor.

Until next time, have a Magnificent Monday!

Chris

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2 Responses to “It Pays to Know your Closing Costs”

  1. Financial Planning on The Finance World For News and Information Around The World On Finance » Blog Archive » It Pays to Know your Closing Costs on March 24th, 2008 8:17 pm

    […] It Pays to Know your Closing Costs The writer of “Canadian Capitalist” wrote a great blog on the costs of owning a home. In short, he outlined some of the key expenses that are sometimes easily overlooked causing a bit of a panic mode come closing. He also discussed some of the major expenses that we often forget about or all together minimize and cautioned us to seriously think through both the pros and cons of home ownership. Your Take-Away: In most cases, owning a home to live in can be a great decision. What we see all too […]

  2. Canadian Capitalist on March 26th, 2008 1:04 pm

    Thanks for the link. Chris, glad to see your blog going live. Good luck!

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