Advice on purchasing a house

Recently, there has been a surge in demand for purchasing homes. However, due to a lack of early preparation, some individuals have found themselves spending large amounts of money, incurring heavy interest charges, and paying high taxes.

Based on insights from mortgage brokers, they offer the following advice:

When buying a home as a salaried employee or a self-employed person, you typically need to wait two years before making the purchase. Additionally, if you are applying for a mortgage with a file, you need to have a solid financial record to secure a good deal. Since you would be declaring high income over two years, the amount of tax you are liable to pay will also be higher.

Currently, banks are offering new home purchase packages that allow you to use company profits to buy a home. However, careful planning is required to minimize tax obligations. We strongly recommend that anyone considering purchasing a home consult with their accountant to save on taxes, and ensure the safest approach. Each person's situation is unique, so personalized advice from your accountant is essential.

Some of you may believe that a larger deposit is beneficial, but please be aware that the tax department may pay closer attention to larger deposits and could potentially request payment sooner.

As we have repeatedly stated, borrowing money is a significant decision, and the responsibility lies with you. While lending services are designed to meet your needs, if you are investigated, you will ultimately be accountable. Therefore, it is important to carefully consider your options.