average first-time homebuyer is 29 years old, with the expectations that they will spend $300,000 on their new home and have a down payment of $48,000 (Nguyen, 2013, para. 1). However, the average price to be spent on a first home in Canada varies from province to province; the average price ranges from $202,000 in Atlantic Canada to $406,000 in Alberta (Nguyen, 2013, para 3). As a home is a significant investment there are numerous factors that need to be considered when purchasing; these factors…
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