Unlocking Your Path to Homeownership

Josh Perez • April 30, 2024

I wanted to share some thoughts with you, especially if you're embarking on the exciting journey of buying your first home. I know it can feel overwhelming, especially with all the uncertainty in today's real estate market. But trust me, there's a way forward that doesn't involve waiting for rates to drop or hoping for some kind of magical policy change from the government.

My best advice is to know your budget inside and out, and strive to be flexible with your housing criteria, to keep as many options open as possible.

Here's the deal: the best advice I can give you is to take control of your finances and be flexible in your approach to finding a home. Forget about waiting for external factors to change; focus on understanding your budget inside and out. When you know exactly what you can afford and you're willing to be flexible with your housing criteria, you'll open up a world of options for yourself.


And here's something else to consider: the recent shift to remote work has opened up new possibilities for where you can live. Take advantage of this flexibility to explore different markets that might be more affordable for your budget. You might be surprised at what you find!


Now, let's talk about a little strategy called house hacking. Ever heard of it? Essentially, it involves buying a property with extra units that you can rent out for additional income. Not only does this make homeownership more affordable, but it also sets you up for success in real estate investing down the line.


But wait, there's more! Let's challenge the age-old debate of renting versus buying. Why not do both? Consider renting where you live and buying a property to invest in. By investing now with your hard-earned savings, you can set yourself up for a more secure financial future.


So, if you're ready to take control of your homeownership journey, I'm here to help. Let's chat and build a plan that's tailored to your financial goals and aspirations. Together, we'll unlock the keys to your first-time homebuyer success and pave the way to a brighter future.

Looking forward to hearing from you!



Cheers,

Josh Perez


Josh Perez
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Deposit vs. Down Payment: Key Differences for Homebuyers

By Josh Perez • February 18, 2026
When you’re buying a home, two terms often cause confusion: deposit and down payment . While they’re related, they serve very different purposes in the homebuying process. Here’s what you need to know. What Is a Deposit? A deposit is the money you provide when you make an offer on a property. Think of it as a show of good faith that proves you’re serious about purchasing. How it works : Typically, you provide a certified cheque or bank draft that your real estate brokerage holds in trust. If your offer is accepted, the deposit remains in trust until the deal moves forward. If negotiations fall through, the deposit is refunded. Connection to your down payment : Once the sale is finalized, your deposit becomes part of your total down payment. Why it matters : The amount is negotiable, but a larger deposit can make your offer more attractive in a competitive market. Keep in mind, however, that if you back out after conditions are removed, you risk losing your deposit. What Is a Down Payment? Your down payment is the amount you contribute toward the purchase price of your home when securing a mortgage. Minimum requirement : In Canada, the minimum down payment is 5% of the home’s purchase price. Anything less than 20% requires mortgage default insurance. Sources : Down payments can come from your savings, the sale of another property, RRSP withdrawals (through the Home Buyers’ Plan), a gift from family, or even borrowed funds. Example: How They Work Together Imagine you’re buying a $400,000 home with a 10% down payment ($40,000). When you make your offer, you provide a $10,000 deposit . Once conditions are met, that deposit is transferred to your lawyer’s trust account. At closing, you add the remaining $30,000 to complete your full down payment. The lender provides the rest—$360,000—through your mortgage. The Bottom Line Your deposit shows commitment and secures your offer, while your down payment is what makes the mortgage possible. Together, they work hand in hand to get you into your new home. 📞 If you’d like clarity on deposits, down payments, or any other part of the mortgage process, let’s connect. I’d be happy to walk you through it step by step.
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Is a 5% Down Payment a Mistake? Here’s the Unpopular Truth.

By Josh Perez • February 15, 2026
Discover why a 5% down payment isn’t always irresponsible. Learn when a low down payment is a smart financial move for Ontario homebuyers and when it’s a risk.