Contact Information: Contact: Kristi Stolarski or Alissa Kiktavy Falls Communications (905) 842-9920 kstolarski@fallscommunications.com or akiktavy@fallscommunications.com
OAKVILLE, ON--(Marketwire - May 25, 2009) - Housing prices and interest rates are at
historic lows. The real estate market is stabilizing. It's a buyer's
market -- so buy! Just be sure to think with your head and not with your
heart when making this big investment.
Buy What You Can Afford
With homebuilders advertising reduced rates to entice homebuyers, don't let
the "value" of the sale entice you into buying more than you can afford.
First, determine an appropriate home price range. A good way to figure
this out is that monthly mortgage payments should be no more than 29
percent of gross income. While you may take into consideration that your
income may increase over the years, just be sure not to over-extend
yourself -- which would make you "house poor." With all the new homes on
the market, you'll be sure to find one that meets your wants and your
wallet.
Choose a Mortgage that Works Now... and in the Future
When choosing a mortgage, you have two basic options -- a fixed or an
adjustable rate mortgage (ARM). With interest rates at all-time lows,
fixed mortgages are a good, safe option since they ensure the same rate for
the life of the loan. While flexible ARM loans may seem enticing with
their lower initial rates and monthly payments -- beware! As interest
rates increase, so will your payments -- and could eventually make your
monthly payments unaffordable.
Invest in Your Investment
Once you've found your dream home at a dream price, continue to build on
your investment by including eco-friendly options. If buying a new home,
check to see that the homebuilder follows the R-2000 Standard, a voluntary
benchmark for homebuilding in Canada that incorporates cost-effective,
energy-efficient building practices and technologies. Some of these
practices may include water-saving faucets and showerheads, energy-saving
appliances, high-efficiency heating and cooling, high R-rated insulation
and windows. While being green with the implementation of these
eco-friendly products -- you'll also be sure to save some green during the
life of your home on energy and water bills!
As of 2009, all Moen bathroom faucets now feature a 32 percent water
savings over the industry standard. For more information on water-saving
faucets and showerheads from Moen, visit www.moen.ca.
About Moen Canada
Moen Canada offers a diverse selection of thoughtfully designed, on-trend
kitchen faucets, bathroom faucets and showerheads for residential and
commercial applications. As the #1 faucet brand in Canada, customers have
come to rely on Moen to deliver dependable products and service. Moen is
part of Fortune Brands, Inc. (NYSE : FO ) (www.fortunebrands.com), a leading
consumer brands company.
