"Right now is an excellent time to buy a new home," says Bob Rasmus, President of the Greater Vancouver Home Builders' Association. "The signals in the housing market are very positive. If you have been thinking about making a move to a new home, take advantage of today's favourable buying conditions."

What's happening with new home prices?
New homes continue to be a great purchase. It's a buyers' market in most areas. Today's competitive marketplace means that you get great value for your housing dollars. New homes are better designed, better built and include more and better features than ever before. Many of yesterday's upgrade and luxury features are standard when you buy a new home today.

Are home builders offering what I want?
Whether you are looking to buy your first home or your next, the new home market offers incredible choice and selection. From starter townhomes to retirement bungalows, from downtown infill to suburban communities, from neo-traditional to ultra-modern, builders are providing a full range of styles, designs and prices. And you don't have to buy a custom home to enjoy the freedom of choosing your own features and finishes.

What will it cost to finance my home?
Low interest rates mean lower housing costs. The affordability of home ownership has improved significantly over the past few years. The combination of lower interest rates and stable housing prices has led to a substantial reduction in the ration of mortgage costs to average family income in most centres across Canada.

Home buyers should take a close look early on at the wide range of home financing plans and options offered by financial institutions. Lenders can help you put together your own personal home ownership plan, so that you get the most out of your mortgage and reach your overall financial goals.

How can I become a home owner sooner?
There are two programs designed to help first-time home buyers get into their own homes without years of saving for a down payment. In both programs, the definition of 'first-time" is broad, and not just limited to people who have never owned a home in their life.

Canada Mortgage and Housing Corporation (CMHC) allows home buyers to qualify for a mortgage with only 5% down payment. This program is aimed at people who can manage the ongoing costs of home ownership, but don't have a significant down payment.  For further information on the program and how to qualify, contact your regional CMHC office or call toll-free at 1-800-668-2642.

First-time buyers can use funds from their Registered Retirement Savings Plan, tax-free, when purchasing a home - as much as $20,000 per person or $40,000 for a couple. Contact your local Revenue Canada office for detailed information.

Put yourself in the picture.  Make a smart move - buy new, buy now.