WHITBY FREE PRESA WEDNESL, >AY. NOVEMBER 25, 1981, PAGE 29 DOLUAR lenteE Follow four simple steps to successful house deal Dy AMa C. G..., CA The bey to gettiug the bout possible housm for you Mud the best possible desi jel careul plannin . Thc firet step in home- buylag ta te decide how mudi you ma afford to pay every mouth .- for mort- gage principal sud intercat, property tas, maintenance, isurace, heating and utlities. To flnd out what you cas Carm in monthly expensca, take your total family in- corne --,after-tax -- asd sui. tract what you need for Dollar Sense offers general financlal advlce by mcm- bers of Ic Institute cf Chartered Accountants of Ontario. neoessities -- foedi, cloth- ing, medical expesses and trasportation, sud any other regular expenses you may have. Tic remainder is the maximum you cas affoZd to put into a bouse. When you ksow the price range you should be look- ing in, you are at the second stage in home.buy- ing - that is, asscssing just what it la you wast in a home. You have to decide on thc type sud style of bouse, neighbourhoods, whether you wast to b. dlose te scioloand shopping, how far you are' wiisi;g te travel to work. When you ksow what you waut, let a couple of real estate agents narrow the field for you, drive you sround ai their expense sud cone up with houses that fit your bill. Their houa..., huutisg help is free te ycu, bocause they cars their commission from the per- son Who sella you the house. Once you have fousd a bouse you ]reresy interested in, seek advice frorn people Who ksow housing sud thc house- purchasing procedure. Certaimly talk te your ture, carpeting, etc., are bcing sold with the bouse, write dows a brief descript- ion of eachitem, along with any serial aumbers. ADd write dowu auy promises, sucs as repairs "~- arc te be made before doig. ladude tics. detsila in your offer to paroisse sud have it daou*ed by your lawyor before you subait il. Ton Mnay have becs in- fluo.ed in your choice of homo by sme of thme emra - aBd ymen aoul mû.e certai yce get ticm. M G.. îl wlb Da"it Hmbu SWI04 Cbtw .4u~ TUM". DOLLAR senti House isEstili. good buy .despite moîrtgage rates ladu"J.Ad oulCA Buyisg a home ini Ontario hbs neyer becs more expensive thas it is todsy,- the resuit both of risisg house costiansd high mortgage rates, yet a good case cas still be made for home owsership. Many people who are rirt-time house-owuers, for example, are yousg snd in the work forte. Chances are their isoomes risc is pace with inflation, snd if interest rates go up, s0 do their incomes. A good example of what happens to your home e o 5 limauclaladvioe by mUw ben do< lb. fr.tut0 Ch..te.d Acoatamuts. inveutment as bulouse prioes risc is the case of a home buyer who pute down $25,000 on a $100,000 home. In his first year, he also pays about $9,000 in mortgage payments, 90 that his investment at the end of a year is $34,000. But with rising house prices, the home's value may rise up by $15,000. If he choose to sel at this point, he cornes out of the deal with a clear profit of 86,000, which arnounts to a 17.5 per cent return on his investment along with a year's free rent. People who live in &part. ments and compare the cost of renting as apariment with that cf ownisg a home cas usually make a good economic argument ini favor of apartmnest living. It can be a misleading argu. ment, however, since they are often comparisg a twe- bedroom apartmcnt with a four.bedroom home, with basement sud backyard. If they waut to make a truc c omparison, they should be comparing- the oost of reuting versu buy. isg a four.bedroom home, bor the cost of buyisg a condominium similar to the rested apartment. It is also popular to recommesd paying off your house mortgage as quickly as possible. This cas be a sound isvestment for people with exoess' cash, but in some cases, family income is growisg or is expected to grow at an accelerated rate and ini such a situation, monthly mort- gage paymnts Winl take up lem and lus of' total income, even whes mort- gage rates are "bing. ,0 Since mortgageiterest ratés are generaly lowèr thas mnterest on Most other Ioas, a family in this position May find it cheaper to use the cash for other necessary purchases such as a car or furniture, isstead of borroiýing. LE-T YO IRSRÀL F GO DOWHI 'j Pemapaawujy Winter may be season for homebuyer bargains By Alan C. Gunu, CA ls it easier to find a home bargain in winter, or in summer? When thc gardes is alive with flowers, or when it's covered with snow? It may be casier in the winter, and here's why. First, it is apparent that anyone who puts a house up for sale in the wister really wasts to sei it. In the sprisg and summer, some people lisi their properties just to sec if they cas get a high offer. In the faîl, a lot* of for-sale signs comne down as the storm windows go up. Sosa seller who puts the, sigu up in thc ofl-season is serious about sefing snd he probably expects to negot. iste over price. Second, while house. hunting in wister might sot Dollar Sense offers geseral finaucial advice by mesibers of Ilhe institute of Chartered Accountants of Ontario. be your idea of fus, you wl be in compctition with fewer buyers. Asd because you are willing to brave thc snow and ice to insspc house, the seller wl know you are s serious buyer. He will be less willing to let you walk away- than if he thinks you are just looking, asd with' fewer serious buyers around, yoýur chances of getting a break on price are eves better. Third, winter conditions oftes show a house in' its truc ligit . pointing up faults that cas result in expensive repaire afier you buy. Cracks in the masonry for example, are not as likely to be conoealed- by trees and shrubbery, and any problems witb the heat- ing systesi will be more readily apparent. Walking from room to room you'll be able to tell whether there are cold spots' or drafts - and when you go outside, look and sec how much snow is on the roof compar. ed with other houses in the ares. If there is consider- ably less snow, it could mess that the insulation is poor. luis also to your advant- age that builders and other contractors are usually less busy in winter and may charge less for their services, should you require repairse t remodel.- ing. Remember, too, that ecd new shortcoming you find in the place can serve as s bargaining 'point in your pr* negotiations with the seller. And if you can't persuade him to give much ground on actual selling price, you migbt be able to obtain some extras like applianoes, drapes or carpeting. In summary, winter house.hunting can lead you to s bargais. If there was a house you saw last summer that wus just slightly out of your price range, why net .go backsud see if it's stil listed. ý,The tprice miight have come dows a» litt, sud' you'll be glad you waited. Alan Gua la wîth Delotte Hahins & Sella, Chartered Aeeomtats. Check our Excellent New ýFinancingPlan With Homes up to, 3,200 Square Feet iro M,$9)8,900. Ail of our homes have Circular Staircases, Garden Roomn Kitchens, Finished Family Rooms with Fire- places, 2 Full Bathrooms, Extra Washroom, Double Garages, plus in our Execut've Homes we provide many additional Luxury features. sWe have new homes at the Viewing Stage in Phase No. 3 (PHASES No. 1 and No. 2 SoId Out) BATH iB EDROOM NO 2 BDOOOM NO 3 il 0 x 1 3 0 12 o 0 ' HALL BT MASTER BE OROOM 20 x20 3 - OPEN FOYER BEDIOM NO 4 1 1 1~2 0 xA12' 7 e LC ONT SONKEN MASTER 101540E 65 x20 5 SECOND FLOOR PLAN Ptiag. Crk ilWhitby *The Varley "The Varley" is a magnificeni new al- brick, 4-Bedroom Design of 3,200.Square Feet. It features a circular oak staircase with inside balcony. Note that the oversize Master Suite extends thc full depth of the bouse and features a large private sunken lounge wilh ils ewn fireplace with heato- lter. Il has separate living room and for- mai dinfing room. Kitchen bas luminous ceiling. Many additional. features. It is situated on a huge 63' by 150' lot. INFORMATION CENTRE OPEN Mon. to Thurs. 1 P.M.7:30 PM. Fridays by Appoinîment Sat. & Sun. 11 A.M.6P.M. Whitby (Direct) 686&1742 Atter Hours 494-5%63 - - si .i