The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

4 - THE PORT PERRY STAR, Tuesday, April 3, 2001 "Scugog"s Community Newspaper of Choice" Four Golden Rules for Home Buyers Rule #1: Carefully consider what you can afford. Here's a simple formula to try. Consider a monthly mortgage amount that you think you can afford. Let's say it's $1,000. Multiply that number by 40, and that will tell you the minimum gross annual income you should have to afford that home. In this example, that would mean you should have an income of $40,000 to afford a home that would cost you $1,000/month. Remember that purchasing a home involves a number of "one-time" costs as well as monthly expenses. In addition to the actual purchase price, some of the "one-time" costs that you might be expected to pay for include the down payment amount, legal fees, home inspection and/or appraisal fees, transfer taxes, utility hookups and moving expenses. : Rule #2: See plenty of homes. A general rule of thumb is to see a range of homes -- at least 10 to 20 -- to allow you to make an informed deci- sion. Don't.get caught up in the emotion when you see a home you like. Take your time to do the right amount of shopping around. You'll know when you've got a good feel for market value, and then go for it! Rule#3: Do your homework. If you decide to put in a conditional offer, chances are it will need to be closer to the asking price to interest the vendor. If there are no strings attached, you can probably put in a lower offer with a reasonable chance for ~ success. It's best to know what your absolute upper limit is before you start negotiating -or you may get caught up in ooo PD. \ 4 NN ) EN PR S ) . Pa RD Se NS % [3 DNN SK / : A the excitement and offer more than you can really can afford. 'Rule #4: Understand market conditions. The real estate market is constantly changing. It helps to understand how market conditions can affect your position as a buyer. Abuyer's market is the sup- ply of home son the market exceeds the demand, which generally permits you more time to look for a home, and gives you more negotiating leverage. A seller's market means the number of buyers want- ing homes exceeds the supply or number of homes on the market and means you may have to pay more and make decisions quickly. In this sit- uation, conditional offers may be rejected. NORTH PORT B BRN Introducing the all new TIRE & WL a TRUCK RENTAL Coley 3 2 7 LA * CARPET * PAINT & & TRUCK RENTALS WALLLCOVERING "Serving the tire buyer since 1950" e CUSTOM BLINDS hihi J i & SHUTTERS ° All Bran s Available « CERTIFIED * Large Inventory of DECORATOR ! da Used Tires aks George NYITTT e Passenger & Truck Let Me Commis : Add 393. . | " our riome : n Real Estate Law * Featuring Dayton PAINT & PAPER el : As Brand prs Mortgages Jor Over 25 Years Lx HANGER AVAILABLE "CHOICE ~ TRUCK RENTALS (085-8221 | STAR HOICE KEN REINHARDT LOCAL AND ONE WAY wry : Rs INC. EE * MOVING AND ; ; FROSESHONAL MORTGAGE BROKERS iN¢ | hl "PACKING SUPPLIES 54 Water Street, Satellite & Electronics Inc. ; : 220 Queen Street, ; by STORE HOURS 985-4029 | [ERAT rll | Port Perry RE : y = OF Gly = LER RB ACEI Mal P t= (DEERE bp) 1894 Scugog St. ° ° ° Go: (905) 985-8465 ea. Rd. 8) he : WY = 3 Jog oa ho aod ve Shin GOLCO | futeoglas ge | ESSIEN "Securing Your Best Interest" Saibinantin § 085-8054 985-9057 | RRR re 800.275.0580 90595 5473 FORDER-PARKS LS MLB 2 YAN [of Sl SiR {e] T2800], [a 34 Water Street, Port Perry Scugog Moving Cormptor? | & Storage Inc. Communications smennaaRelam gk Apaipiniiien) All Lines of General Insurance Yanna ty BRIONCE "Cable Television ana JEGPNMERN : DISCOUNTS AVAILABLE Q SELF STORAGE UNITS Including ¢ Claims Free ® Mortgage Free Q PALLETIZED HEATED WAREHOUSE High Speed Internat.on Cable dee for Home and Business ¢ Seniors © New Home e Multi-Policy QO LOCAL & LONG DISTANCE MOVING | | | Convenient Payment Plans Available 0 PIANO AND OFFICE MOVING -985-- 1 - 905-985-811 7 | Call for a Port Peny Office (905) 985-3761 WORRY FREE T.V. and we're not stopping there! Competitive Quote Port Perry Warehouse (905) 985-1010 SEIN VANS KE RY VRY 1-800-563-5961 985-8471 --_--_--,,. A ---- DON HARPER Robert & Carolyn Hall [H Port perry (305) 988-4300 [es o Port Perry > Bus. (905) 985-4300 Brian McKinla © Toronto Line (905) 683-4039 Tor Lie (05) 865-408 Flea. (905) 946.7718 aay SO GO lean le] ON OO aTeSye TAS Satis mited Bus. (905) 985-4300 126 Water St, 2nd Floor, Port LoL 189 4 126 Water St, 2nd Floor, Port Parry, ON LOL 19 sutton group - 24 Hour P, : : GET SOLD ON SUTTON GROUP «0 - GET OUR TEAM WORKING FOR YOU! lifestyle real estate limited Tor. Line (905) 883-4039 Ein Port Perry, Ontario LOL 1B9 email: bmekinlay @ sutton.com JUS UE SIGN PTIESE 2016) IY) dup 1S OI rns) VA UE VIO 60LEM LOU iy BYR 1802 209000008 000 doy