From the TD CANADA TRUST REPEAT HOME BUYERS REPORT
The TD Canada Trust Repeat Home Buyers Report showed that 63% of Canadians have a mortgage on the home they are moving from and 69% will take out a mortgage on their new home.
In 2010, nearly three in ten Canadians (27%) who planned to sell their home didn't know they had options when it came to their mortgage. This year, that number decreased to only 9%. Thirty-eight percent of sellers say they will bring their mortgage with them and 14% say they will use it as a selling feature. Although they say they are aware of the options, 39% haven't considered what they will do.
"It's just as important to consider your mortgage options as a seller as when you are buying. You may be overlooking your mortgage as an important selling feature of your home or you may be able to save money by keeping your low rate and bringing your mortgage terms with you. Talk to an expert to find out what option might work for you," says Haque.
About the 2011 TD Canada Trust Repeat Home Buyers Report
Results for this study were collected through a custom online survey conducted by Environics Research Group. A total of 1,025 completed surveys were collected between June 16-28, 2011 of people who have either purchased a home that was not their first home within the past 24 months, or intend to purchase a home that is not their first home within the next 24 months.
Heather Hisey, Sales Representative; Lezlie McDermott, Sales Representative and Anne Wills, Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
Independently Owned and Operated