Rea EstatE Hi Consider other home financing alternatives BRUCE AND Mandy live in @ mortgage-free home, yet they don’t expect to fully Brace’s father, mother and two brothers. Both holding down full- time jobs, Bruce and Mandy are diligently saving ownership of house, while providing the four others an attractive return on their investment. The specific: are varied, but many coupes like Man- dy and Bruce — as well as Singles — are embarking on similar plans in an effort tc provide for their futures. And in spite of rising prices, home ownership remains one of the most popular goals among Canadians. Fi ing is a2 major con- cer when buying a home, especially for first-time buyers. It’s no longer enough to simply save up the downpayment and walk into the closest financial institu- tion to sign the papers. People are becoming wiser and noticeably more creative about funding their dream of owning a home. The only rule is to inake sure to exam- ine all alternatives before embarking on any path. The following are some points to consider: © Don’t discount dealing with family members out of a sense of pride or a concern that it may adversely affect the relationship. A parent or other relative with the ability and willingness to lend the necessary money might pres- ent the best, or even the only chance of acquiring a home. And the benefits are not always one-sided. Such an investment on the part of the relative could prove more rewarding and safer than, for instance, putting monty in the stock market. Be sure, however, to avert any potential problems by establishing and agreeing on the terms at the outset, and abiding by them as you would any formal financial arrangement. © Builders and developers occasionally offer mortgage packages to buyers. If you are looking at a new home, inquire about a financing plan. *Many companies, especially financial institu- tions, offer special interest rates or other financing benefits to employees. Check to see if you are eligible for any corporate “‘perks.’° $177,900. Just shail you wart. Speciat 3 bedroom residence seckidied fot. Great floor pian, 1400 sq-ft., 1% baths, toads of storage and beautiful landscaping. 1231, *Though usually associated with higher than average interest rates, companies and credit unions. Since the mostgaze For instance, a fraction of @ percentage point cam save you over $200 a year on 2 $100,000 mortgage at cur- rent rates. Thar’s why it is compulsory to take the time to compare the rates offered. Although fending rates of financial institutions may differ slightly, rates offered shouldn’t be your only con- sideration. Talk to the loans or mortgage officers of a few different companies. They can explain the benefits of long‘short term mortgages, shorter amor- tization periods, and pre- payment options, etc. thar can help you to pay off your moftgage sooner rather than later. For most people, the pur- chase of a home represents their single biggest imvest- ment — it’s worth the effort involved in acquiring the best possible terms and rates. Ask about = alternative Ss. ~ APPEAL — PRICED AT $239,900 @ it years young, 4 bedroom home, aboveground basement, possible in-law suite. Compare the ™ price and the location! 1074 Canyon Blvd. BEAUTIFUL HOME SENTINEL HILL 63 - Friday, June 2, 1989 — North Shore News bury Crescent. FOREST HILLS Remodelied 3 bedroom rancher in excellent loca- tion, partial view. Asking $239,000. 4483 CHRISTINA KAI 686-3111 pgr. TERRIFIC MOUNTAIN VIEW Territic mtn. view home situated on iarge tot. SJ bdrms plus den, large rec room, double car garage plus traltor or 2 additional cars. Outstan- @ ding sunny backyard with beautitul flowering #4 trees. 880 Buriey NEW LISTING - DEEP COVE old 4 bdrm, ae bath me. Asking S28 Bus: 988-3151 Res: 922-9237 — EDEGRONT VRLAGE — $267,000. Prime location for this special 3 bdrm spit tevel Com- pletely renovated inside and cut. Large 78x13" ict. Outstan- Bing sarily pian. San. 2-8. 2829 POSSIBILITIES — , | $179,500. Central Lonsdale. Designated attach- ed housing’ an community pian. Possible duplex — STREET . $189,000. Looks great! Views of Stanley Park, — 6000 LOOKING -- $339,000. Fabulous location! Panoramic ocean $208,900. Lovely remodelied view kitchen, 4 bedrooms, 2 levels, ensuite bathroom, large 2 car | site, Super condition. Wonderful harbour view. 3 Lions Gate Bridge and beyond. 6 bedrooms ar and city views. 50°x122’ lot. Quiet private and within wating distance to schools, buses and Needs gerage and possible duplex site. Central Lonsdate | bdrms si large 52°x146' fot. Open Sum. 2-4. 323 "988-3151 _NORTH_ SHORE OFFICE = Me DUNDARAVE VIEW 1.