{"id":1188,"date":"2016-04-20T09:00:53","date_gmt":"2016-04-20T09:00:53","guid":{"rendered":"http:\/\/andrewwbradley.ca\/Retirement-Made-Easy\/?p=1188"},"modified":"2016-04-20T09:00:53","modified_gmt":"2016-04-20T09:00:53","slug":"first-time-buyers-working-way-property-ladder","status":"publish","type":"post","link":"https:\/\/blog.andrewwbradley.ca\/index.php\/2016\/04\/20\/first-time-buyers-working-way-property-ladder\/","title":{"rendered":"First Time Home Buyer – Working Your Way Up"},"content":{"rendered":"

\"First<\/a>You\u2019ve moved in, you\u2019re paying your mortgage; you\u2019re ready to finally breathe out\u2026Congratulations! You are a first time home buyer and should be enjoying the change. Now you\u2019re firmly on the property ladder, you can start to make the most of your new status.
\nWith sound judgement and a little luck, the next move you make will be another step up. While the economy is stable and house prices continue to rise, your property will be gaining value year on year. The difference between what you paid and the new value is your \u2018equity\u2019, and if all goes according to plan, you should make a bit of profit when you come to sell your house.
\nHowever, you don\u2019t have to sell up to take advantage of your equity. Second mortgages and remortgaging are covered elsewhere in the guide, and show how you can take advantage of your property\u2019s worth. Meanwhile, sound management of your investment covers two areas:
\nWatch Your Finances
\nKeep an eye on the market. If your circumstances change, you may want to change your mortgage too. Make sure that you have some kind of insurance protection in place, like mortgage protection or income replacement coverage. This means that if you suddenly lose your job or fall ill, your mortgage payments will be covered and you\u2019ll have one less thing to worry about. You may also want to take out contents insurance \u2013 which can cover your possessions against accidental damage and loss as well as theft or break-ins.
\nLook After Your Home
\nYou should be paying home insurance, which covers the fabric of the building including its structure. If you live in a condo or shared building, there may also be condo fees to pay. (Sometimes your buildings insurance is covered.) If you notice any problems, such as leaks or damp patches, investigate them straight away. Problems left untreated can become much worse, and could affect the value of your property. Get a professional in to ascertain the source of the problem, and give you an estimate of the cost. Check with your insurance company whether they will cover the bill \u2013 policies often come with lots of loopholes and clauses
\nConsider Resale
\nWhen planning any home improvements or redecorating, bear in mind that you may want to sell your property at some point. For any alterations to the fabric of the building, check with your local authority to see if you need planning permission or a building warrant.
\nAndrewWBradley.ca<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

You\u2019ve moved in, you\u2019re paying your mortgage; you\u2019re ready to finally breathe out\u2026Congratulations! You are a first time home buyer and should be enjoying the change. Now you\u2019re firmly on the property ladder, you...<\/p>\n","protected":false},"author":1,"featured_media":5244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5],"tags":[109,184,227,234,273,288,321,352,476],"_links":{"self":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/1188"}],"collection":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/comments?post=1188"}],"version-history":[{"count":0,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/1188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media?parent=1188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/categories?post=1188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/tags?post=1188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}