{"id":5739,"date":"2018-10-17T15:45:26","date_gmt":"2018-10-17T19:45:26","guid":{"rendered":"https:\/\/viacapitaledumontroyal.com\/?p=4236\/"},"modified":"2020-06-22T14:02:05","modified_gmt":"2020-06-22T18:02:05","slug":"set-your-budget-when-buying-a-property","status":"publish","type":"post","link":"https:\/\/viacapitaledumontroyal.com\/en\/set-your-budget-when-buying-a-property\/","title":{"rendered":"How to Set Your Budget When Buying a Property"},"content":{"rendered":"<h2>Buying a property requires several months of early preparation, and one of the first steps in this process is to take a careful look at your budget for real estate acquisition.<\/h2>\n<p>Via Capitale du Mont-Royal focused on this issue and prepared a quick overview of questions to ask yourself when setting your budget.<\/p>\n<h3>Can I afford to become a homeowner?<\/h3>\n<p><span style=\"font-weight: 400;\">That&#8217;s a common question among tenants at this early stage! There&#8217;s something appealing about becoming a homeowner, but don&#8217;t forget that homeownership also comes with its share of responsibilities!<\/span><\/p>\n<p>The <a href=\"http:\/\/(https:\/\/www.multi-prets.com\/fr\/Outils\/Calculatrices)\" target=\"_blank\" rel=\"noopener noreferrer\">Multi-Pr\u00eats Mortgage Calculator<\/a> is a great tool to help you with the process! Simply enter the amount you currently pay for rent and it will generate an estimated mortgage sum within your budget.<\/p>\n<h3><strong>What&#8217;s my net value?<\/strong><\/h3>\n<p>Your banker will surely ask you this very question when you first meet. Simply put, the net value is the difference between your debts (passive) and your assets (active). The Mortgage Qualifier Tool from the <a href=\"http:\/\/itools-ioutils.fcac-acfc.gc.ca\/MQ-HQ\/MQ-EAPH-eng.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">FCAC<\/a> helps you determine your eligibility and gives you an idea of the maximum amount you may borrow.<\/p>\n<h3><strong>Do I need to make prepayments on my mortgage?<\/strong><\/h3>\n<p>There are several ways to continue saving money after your mortgage is approved by the bank! One method is to make prepayments. We suggest discussing this option with your banker, to see how much time and money you can save on your mortgage.<\/p>\n<h3><strong>For more information<\/strong><\/h3>\n<p>The following articles on the Via Capitale blog will also be a valuable help for planning your real estate <span style=\"font-weight: 400;\">purchase with ease. Happy reading!<br \/>\n<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">L\u2019ACHAT D\u2019UNE PREMI\u00c8RE MAISON EN 9 \u00c9TAPES (in French)<br \/>\nhttp:\/\/www.viacapitalevendu.com\/blogue\/lachat-dune-premiere-maison-en-9-etapes\/<\/span><\/p>\n<p><span style=\"font-weight: 400;\">DES DOLLARS POUR VOTRE PREMI\u00c8RE MAISON (in French)<br \/>\nhttp:\/\/www.viacapitalevendu.com\/blogue\/des-dollars-pour-votre-premiere-maison\/<\/span><\/p>\n<p><strong>Did you enjoy this article? Share it with your contacts!<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buying a property requires several months of early preparation, and one of the first steps in this process is to take a&#8230;<\/p>\n","protected":false},"author":321,"featured_media":8989,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[238,235],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Set Your Budget When Buying a Property - Via Capitale du Mont-Royal<\/title>\n<meta name=\"description\" content=\"Buying a property requires several months of early preparation, and one of the first steps in this process is to take a careful look at your budget for real estate acquisition. 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