CHMC Changes got you down? Time to move to Northumberland!

Today the big news in real estate is that CMHC announced changes to the requirements for insured mortgages. Effective February 2016 insured mortgages on homes valued over $500,000 will now require a 10% down payment for the portion of the home value that exceeds $500,000.

This news has created a lot of buzz in the real estate industry, specifically what will this mean for the GTA housing market where many homes are priced above $500,000?

Not to worry here at Pennington’s Perspective we’ve been hard at work coming up with a plan of action. The solution: Move to Northumberland! Now more than ever the solution to all of your housing market woes is easily solved by making the move to Ontario’s Feel Good Town and getting out of The Big Smoke once and for all!

Still not convinced? Well here’s are my top 5 reason why there has never been a better time to buy in Northumberland

 

1. The average house price in Northumberland is just $297,925, so for well under $500,000 you can get a spectacular home. Whether it’s a waterfront condo, that farm you’ve always dreamed about, a heritage home, or a brand new bungalow you thought was never within reach. It’s all right here and well under $500,000 in Northumberland.
2. Getting to and from work in downtown Toronto is a breeze with the VIA commuter schedule. Everyday 10-12 trains can whisk you to downtown in just over an hour, complete with on board coffee, tea, and light snacks for purchase and complimentary Wi-Fi. You can sleep your way to work or start happy hour early on the ride home. All for around $30 round trip per day.
3.  Cobourg is “Ontario’s Feel Good Town”. How is it possible to not feel good living in a town that’s known for it?
4. Are you tired of big city bidding wars and falling in love with your dream home only to find out that 25 other buyers loved it as well and once again you were out bid? Not here in Northumberland! Multiple offers are far less common in Northumberland, and when they do occur there tends to be only a few competing bids.
5. And last but not least living in Northumberland give you a feeling that’s indescribable; it’s a sense of community that you have to be here to experience and it’s the reason my family and so many others have chosen to be here. We are a community that is kind, welcoming, and passionate about giving back.

So there you have it. Don’t let CMCH changes get you down; it’s just another sign that it’s time for you to make the move to Northumberland. For more information on making that move or a selection of fantastic homes under $500,000 contact Jacqueline Pennington your relocation specialist at 905-375-0062 or pennington.remax@gmail.com