The Road to Home Ownership

By LEAH BRADISH, COTR

To buy or not to buy? That is the question and this new series of home ownership workshops may help people answer that question. Designed to inform those considering home ownership how to start saving for the down payment, what to look for in a home, and all of the other aspects involved in owning your own home, “The Road to Home Ownership” is a three-part workshop being offered at College of the Rockies this fall.

Guest speakers will include a banker to look at home ownership savings options and the financial commitment, a mortgage broker to discuss the ins and outs of mortgages, a lawyer discussing legal aspects of purchasing a home, a realtor and a home inspector to discuss what to consider when buying with regards to structural and other potentially costly repairs.

On the final evening a young couple who recently took the plunge into home ownership will share their story of the ups and downs associated with the purchase.

This workshop, offered over three evenings in October will enable those considering home ownership to get their questions answered and to make an informed decision. It is being sponsored in part by College of the Rockies, the City of Fernie, Trico Homes and the East Kootenay Credit Union.

“When and if affordable housing options come on stream in Fernie, this workshop will have helped prepare many of Fernie’s residents to save the money they will need to take advantage of such an option and to know that they are ready to take the plunge into home ownership,” said Leah Bradish, Campus Manager for the Fernie Campus.

College of the Rockies hopes the workshop will be offered regularly year after year to encourage people to own in Fernie. “We are hoping this will help to demystify the home ownership process for first time homeowners and encourage more people to make Fernie their long-term home”.

The course is slated to run for three Wednesday evenings in October starting October 15. Cost is a minimal $40. If a couple attends the $40 can be paid by one spouse but both will be registered and can attend without paying an additional $40.

A related workshop for those considering becoming landlords to help pay off their mortgages and for those who currently rent but may be unaware of their rights and obligations, COTR is bringing the Residential Tenancy Branch of BC in on October 21st to deliver “What every landlord and tenant need to know”.

The workshop will detail the rights and obligations for both the landlord and the tenant. Questions addressed will include under what circumstances a landlord can retain a security deposit, who is responsible for maintenance, notice of eviction and what to address when doing a damage walk-through. Bring your personal rental stories and questions as these are the experts. The landlord and tenant workshop runs 7-10 Tuesday, October 21 and costs $30.