HOME SWEET HOME! UNI WILL BE THERE THROUGHOUT THIS IMPORTANT MOMENT IN YOUR LIFE.

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1 Your Home Project

2 HOME SWEET HOME! UNI WILL BE THERE THROUGHOUT THIS IMPORTANT MOMENT IN YOUR LIFE. Are you planning to move into your very first home soon, or are you planning to move to a new house? Buying a house is an important decision. It s something we do only a few times in our lifetime. And it has many daily and long-term effects on our life, which is why it's important to prepare carefully. At UNI, we understand that. Take the time to consult this simple and easy-to-use guide and, if you like, talk to your caisse advisor. Hold on to this guide. It's your key to all the essential information you ll need to take you to the front door of your new home in five steps.

3 Table of contents STEP 1 STEP 2 STEP 3 STEP 4 STEP 5 The budget and calculation tools 2 Choosing your home 6 Your allies 9 The mortgage loan 11 The purchase offer 16 APPENDIX 1 Helpfull addresses 18 APPENDIX 2 Future homeowner s checklist 19 At the time of printing, all of the following information was correct. Certain conditions apply. Product features are subject to change without prior notice. Check with your advisor.

4 1. The budget and calculation tools THE BUDGET The budget is a crucial step towards establishing the limits for your home purchasing project. A careful evaluation of your current finances, short-term and long-term financial capability, needs and priorities will save you a lot of stress and give you the peace of mind to contemplate your purchase. This first section will give you a clear picture of all the financial aspects of buying a home: down payments, start-up costs and budget calculation. Visit uni.ca, where you will find several calculators to help you determine the overall budget for your project. Don't hesitate to ask your advisor for help because that is the key person to guide you through the entire process. Once you finish your calculations, your advisor can sit down with you, analyze the results and perhaps grant you a pre-arranged mortgage loan an evaluation that determines the maximum financing amount you're eligible for according to your financial situation. This will facilitate your negotiations with the seller or real estate broker, guarantee the rate for 90 days and speed up the transaction to get you in your home as soon as possible. THE DOWNPAYMENT: INVESTING IN YOUR PROJECT When you get a mortgage loan, you are obligated under the Bank Act to invest a sum of money from your personal assets. This is called the downpayment. The downpayment can come from liquid assets taken from your savings accounts, deposit certificates, savings bonds, mutual funds or RRSPs. Cash donations, cashback incentives from lenders and personal loans are also eligible under certain conditions. Moreover, if you own the land on which you'd like to build a home, its value can be used as downpayment. Lastly, if you're building your own home with the help of family and friends, your advisor could use part of the value of this labour, called sweat equity, to reduce the amount needed for your downpayment. 2

5 HOW MUCH TO INVEST? The bigger your downpayment, the less you'll need to borrow. And the less interest you'll pay! Generally, the minimum required downpayment is 20% of the property s cost or market value, whichever is lower. It is, however, possible to borrow even if you don't have the minimum downpayment. If you need a mortgage worth more than 80% of your property's purchase price, you are legally required to have your loan insured by the Canada Mortgage and Housing Corporation (CMHC). In this case, your downpayment could be from 5 to 20% of your property's value.* The mortgage insurance premium varies in relation to the downpayment and must be either paid at the time of purchase or added to the loan amount. It represents a pourcentage of the amount of the mortgage loan depending on the size of your downpayment is nonrefundable and is usually included in your mortgage payments. To find out more about the conditions specific to your mortgage insurance, consult your advisor. LEVERAGING YOUR RRSP TO BUY A HOME Thanks to the government Home Buyers' Plan (HBP), you can use your RRSP (Registered Retirement Savings Plan) as a downpayment, reducing your mortgage payments, and mortgage insurance if any. The HBP allows you to withdraw up to $25,000 from your RRSP that's $50,000 per couple for the purchase of a new or existing residence. You won't pay any taxes on the amount 1, and you'll have 15 years to pay it back, interest-free. To be eligible for the HBP, neither you nor your spouse can have been the owner of a residence during the year in which you withdraw funds from your RRSP or over the four previous calendar years. Also, to take advantage of the HBP more than once, you must have fully reimbursed the previous HBP within the agreed time limit. * 1 Following the announcement of the Gouvernment of Canada, effective February 15, 2016, the minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house price above $500,000. The 5% minimum down payment for properties up to $500,000 remains unchanged. If the minimum annual payments are not made, the difference between the amount paid and the minimum amount required is taxable. 3

6 USING THE HBP WITHOUT RRSP S Even if you don't have an RRSP, you can take advantage of the HBP. Here's one strategy: l Borrow the amount corresponding to your maximum RRSP contribution from UNI; l Deposit it into an RRSP for at least 90 days; l Withdraw that non-taxable amount from your RRSP and apply it against the reimbursement of your loan; l Use your income tax refund as a downpayment for the acquisition of a residence; l Then take up to 15 years to re-deposit the funds in your RRSP; l Consult your advisor for the strategy that suits your needs. SYSTEMATIC SAVING TO ACCUMULATE MONEY Is the purchase of a home a long or medium-term project for you? The UNI Systematic Savings is an excellent way to save up for a downpayment. At the intervals you request, a given amount is withdrawn from your Personal Chequing Account and deposited into your Systematic Savings Account. This way, you get the gain without the pain! ANTICIPATE START-UP COSTS You need to put aside the initial downpayment and between 3% and 5% of the purchase price to cover certain start-up costs. See below for examples. INSPECTION FEES Before buying an existing home, have it inspected by a specialist. A detailed report will tell you whether the house requires repairs in the short or long term, and inform you about the existence of any detectable hidden defects. APPRAISAL FEES Your advisor will need to know the market value of the property you wish to acquire. An expert usually a chartered appraiser will perform an inspection and issue an appraisal report of your property s market value. LAWYERS The preparation, signing and registering of various legal documents related to the purchase of your property calls for the expertise of a lawyer, whose fees are your responsibility. It's a good idea to ask for several estimates before making a decision, because fees vary considerably from one lawyer to another. Your advisor can refer you to a lawyer, if you wish. Furthermore, upon closing the sale at the lawyer's office, you'll have to pay additional fees and adjustment costs. These include property taxes, hydro bills, and condominium charges (if applicable). The lawyer is responsible for making these calculations based on the date of closing. 4

7 OTHER FEES l Home insurance premium for a new property (usually higher than when you're renting) l Mortgage insurance premiums l Property survey fees (if required) l Sales tax (for new homes) Don't forget you'll have moving and public utility hook-up costs. You also may want to decorate, buy new appliances and furnish your house, patio or garden. Try to anticipate these costs as much as possible, or ask your advisor for a personal line of credit to help you out temporarily. CRAZY FOR CALCULATIONS? Visit uni.ca and calculate with our simulators. You'll be impressed by how easy it is! l How much can you afford to spend on a house? l Start-up costs for a new or existing house. GOLDEN RULES FOR BORROWING l A maximum of 35%* of your gross household income should be devoted to housing costs (GDS 1 ); l A maximum of 42%* of your gross household income should be devoted to the total repayment of your debts (TDS 2 ). * Recommended percentage according to mortgage insurers. In the event that the qualification rate 3 is used, the percentages would be 39% for the GDS and 44% for the TDS. 1) Gross debt service ratio. 2) Total debt service ratio. 3) As of October 14, 2016, Canadian financial institutions must use a qualification rate to ensure that the customer has the ability to absorb a significant rate increase. Although these are industry-established limits, they do not account for income levels and each situation must be analyzed individually to determine whether these ratios are applicable and safe for the customer. 5

8 2. Choosing your home CHOOSING YOUR HOME Now that you have finished your calculations with the help of our calculators (uni.ca), you are finally at one of the most exciting stages of your home purchasing plan: finding the dream home that matches your budget! Before taking on this adventure, make sure to establish your priorities and be as precise as possible in determining your selection criteria. Buying a home is always a question of choice. It s up to you to identify which criteria are most important to you and which you re willing to sacrifice. At this stage, you should have an idea of how much you can spend on a home. Now, there are two other criteria to consider: location and type of home. LOCATION The location of your future residence is a factor that requires particular attention, especially in the big city. Certain choices could considerably change your budget planning, habits and quality of life. There s a big difference between the city and the suburbs. The city offers a vast range of housing styles, developed public transit and nearby entertainment hubs such as cinemas, restaurants and theatres. The suburbs, on the other hand, offer bigger properties and homes that are often newer and more affordable than in the city, but the higher cost of transportation and its inherent impact on the environment must be considered. Perhaps the best way to understand this would be to walk around the neighbourhood you're considering, and make a return trip from the area to your workplace during rush hour. QUESTIONS TO FIND THE IDEAL LOCATION l How long does it take you to get to work? How do you get to work? l What are the local services (daycares, schools, hospital, stores, parks)? l What is the value of neighbouring homes? Has their value gone up or down? l Is the area safe and quiet? 6

9 TYPE OF HOME Take the time to choose the home that best meets your taste and needs. There are many different types of homes, each with different advantages and matching different lifestyles. For example: l Single-family home (bungalow, two-storey) - Privacy and freedom - Proven investment - Generally more expensive l Semi-detached - Less expensive than a single-family home (purchase, upkeep, energy, taxes) - Slightly less private than a single-family home - Popular with young families l Duplexes - Greater cost and downpayment than a single-family home - Rental income (tax implications) - More time and resources needed for upkeep - Rental unit expenses deductible - Lease management l Townhouses - Less expensive than a single-family home (purchase, upkeep, energy, taxes) - Slightly less private than a single-family home or semi-detached - Popular with young families l Condominiums - A property wherein on each unit belongs to a different owner - Involves written agreements to manage common areas and for upkeep - Condo fees - Less privacy - Lower taxes N.B. There are also relocatable and factory-built homes. 7

10 QUESTIONS TO FIND THE TYPE OF HOME FOR YOU l Do you need a lot of privacy? l Do you mind sharing space with neighbours or renters? l Are energy efficiency and quality of the environment (insulation, heating, air quality, ventilation, types of material, lighting etc.) important to you? l How much time will you have to keep up your home? l Do you need large rooms? l Do you want a large property? A NEW OR EXISTING HOME? COMPARE THE ADVANTAGES l New home - Possibility to improve or choose the following: exterior siding, flooring, plumbing and electrical accessories - Built according to recent standards (building, electricity, energy efficiency) - Builder s guarantee l Existing home - Established area - Landscaped and fenced yard - Can include certain additions (in-ground pool, basement, etc.) - In case of major renovations, can be considered as a new home and GST applies WANT TO BUILD YOUR OWN HOME? You'd like to build your own home to your taste in your dream location. You have the time and energy, you're organized, knowledgeable, have experience and contacts in residential construction, and have friends and family who can help out. Inherently, building your own home is a huge project that demands careful planning. Below are the nine basic things to do before starting to build: l Spell out your needs in terms of your preferences, lifestyle and financial capability l Get plans and specifications that meet building regulations drawn up by specialists l Get a construction permit l Get an accident insurance policy l Draw up a detailed estimate of direct and indirect costs l Take the plans, specifications and construction permit to your advisor to obtain financing l Make a critical path schedule from the plans and specifications l Research and plan the main construction-inspection steps l Get written contracts with deadlines from material suppliers and subcontractors 8

11 3. Your allies YOUR ALLIES Early on in your property search, it will become obvious that you can t do everything yourself, even with the help of your loved ones. With each and every step, make sure you have the competent support of a team of professionals. They are indispensable! Just look for the list of addresses in the appendix, as it will be of great use to you during your search. YOUR UNI PERSONAL FINANCE ADVISOR This person is the pillar of your team! In addition to helping you choose the mortgage loan that best suit your borrowing profile, needs and situation, your advisor acts in your best interests and will guide and advise you throughout the entire property acquisition process. THE BUILDING INSPECTOR Before buying your home, make sure it passes the final test: the inspection. An engineer, building technician, architect or chartered appraiser can do the job and provide a written inspection report, evaluating the foundation, roof, structural elements, windows, insulation and plumbing, as well as the electrical, heating and ventilation systems, etc. A professional inspection provides the following: l An expert opinion confirming that the asking price is reasonable with respect to the quality and value of the property l An evaluation of the cost of repairs l The detection of any hidden defects THE LAND SURVEYOR If you buy an existing house, the certificate of location, prepared by a land surveyor, must be provided by the property seller; in the case of a new construction, the land surveyor will prepare it for you. This certificate is required by most mortgage lenders. This certificate contains the following information: l l l A description of the lot and building Identification of illegalities and irregularities (e.g. a fence encroaching on a neighbour s property) A list of any easements (e.g. rights-of-way) l A list of specific bylaws or regulations that may restrict a property owner s rights 9

12 THE LAWYER The role of the lawyer is to ensure the transaction is carried out according to the rules. To this end, the lawyer draws up the mortgage deed and the deed of conveyance. The mortgage deed is an official document that specifies the mortgage loan conditions, along with the rights and obligations of the borrower and the financial institution. The deed of conveyance is an official document drafted from the purchase offer by which the seller transfers the property title to the buyer. Additionally, the lawyer performs a title search and examines documents published by the Registry Office, and scrutinizes the documents supplied by the seller (tax receipts, location certificate, marriage contracts or divorce papers). These procedures are intended to ensure that no one other than the seller has rights to the property, and that there is nothing that could compromise the seller s title to the property (e.g. previous mortgages, easements, pending probate settlements). The lawyer has the mortgage deed signed by the buyer and the mortgage lender (financial institution) and publishes it at the Registry Office. Lastly, the notary convenes the seller and buyer (and spouses if necessary) and has the deed of conveyance signed. THE REAL ESTATE AGENT The real estate agent is a housing specialist who s there to help you find the home that s right for you. To be really effective, your agent will need to know your budget and lifestyle, as well as the type of area you're looking for. Before your first meeting, you might want to use the pre-arranged mortgage loan to find out exactly how much you can borrow, based on your financial situation and your budget (ask your financial advisor). With this information the agent can quickly help you thanks to a familiarity with the market find the home that meets your needs. The real estate agent will arrange appointments and accompany you on your visits. This reassuring step will help you save a lot of time! Finally, your agent will advise you during negotiations and help you draft the purchase offer. THE CONTRACTOR When buying or building a new home, ask for the contractor s references to assure you of their credibility and competence. You might also want to see if the contractor offers new home guarantees. You can also ask to visit homes built by the contractor of your choice. If you re having a home built, the services of an architect can also be very useful. 10

13 4. The mortgage loan THE MORTGAGE LOAN Now you have arrived at the crucial stage: choosing a mortgage loan. Not all borrowers are in the same financial situation. They are not all looking for the same type of loan. Some focus on interest savings and prefer variable rates, while others are looking for rate and payment stability. The following section will help you make the right choice and discover the advantages of a UNI mortgage loan. MORTGAGE LOANS: KEY TERMS PRINCIPAL: This is the sum you borrow. This amount is the difference between the purchase price of your property and your downpayment. INTEREST: The cost of a loan, paid regularly and expressed as a percentage, for as long as funds are advanced by your UNI business location. PAYMENTS: The amounts you must regularly pay against your loan. They consist of a portion of your principal and some of the interest on your loan. AMORTIZATION PERIOD: The number of years over which you ve chosen to repay your loan.the maximum is 25 years. The longer the period, the lower your payments, but the more you pay in interest. TERM: The period during which your interest rate and regular loan payment remain unchanged if you ve opted for a fixed-rate loan. In the case of a variable-rate loan, the regular payment may remain unchanged, but the rate varies according to market fluctuations. At the end of the term,a new term is negotiated with your advisor and new conditions apply for its duration. FIXED RATE: Stays the same until the end of the term; can apply to an open or closed loan. VARIABLE RATE: An interest rate that's lower than the fixed rate, but pegged to the prime rate. OPEN MORTGAGE: Pay it back anytime, in full or in part, without penalty. CLOSED MORTGAGE: Cannot be repaid in full before maturity. It's possible to make accelerated payments of up to 15% of the initial mortgage loan amount without penalty. PENALTY: Amount required by the lender for a partial or full repayment of a closed loan before maturity. 11

14 BUILD YOUR FUTURE ACCORDING TO YOUR BORROWING PROFILE It is now time to choose the mortgage loan that will finance your property. Several options are available to you! After a few questions, your advisor will be able to offer you the solution(s) best suited to your situation. Our mortgage solutions: FIXED-RATE MORTGAGE LOANS l CLOSED: This loan, with a term of usually 5 years, protects you against an increase in interest rates. The term can vary from 6 months to 10 years. Payments are generally higher than for variable-rate loans. l OPEN: Ideal if your property is up for sale or if you expect a significant short-term inflow of funds that you will apply to your loan to avoid paying a penalty. Its interest rate is higher than that of the closed fixed-rate loan. The term is for a period of 6 months or 1 year. YEARLY RATE RESETTER MORTGAGE LOAN l 5 in 1 : This loan gives you the benefit of one of the best fixed rates offered on the market. The term is 5 years, the rate is revised annually and you benefit from a pre-established rate discount. VARIABLE-RATE MORTGAGE LOANS l PROTECTED: Combines the benefits of the variable rate with those of the fixed rates and payments. This loan lets you benefit from rate cuts while protecting yourself from significant increases for the duration of the term. The term is 5 years l REDUCED: Offers the best interest rate. The rate follows the rise and fall of the prime rate and can be converted into a fixed rate at any time, without penalty. l REGULAR: Offers a very advantageous interest rate that follows the rise and fall of the prime rate. This 1- or 2-year term loan stands out due to its flexibility and allows you to repay your loan at any time, in whole or in part, without penalty. THE VERSATILE LINE OF CREDIT: THE IDEAL FINANCING TOOL The Versatile Line of Credit is a mortgage-secured credit line for homeowners of buildings with four units or less. It allows you to obtain financing up to 80% of the current value of your home at a very advantageous rate. You may convert all or part of the balance of your Versatile Line of Credit into a mortgage loan or personal loan at any time to benefit from the stability of rates and payments. You can also combine multiple mortgage loans to diversify maturities, rates and repayment terms to suit your needs. l SIMPLICITY ITSELF Once you determine the overall amount of your credit line, you get your cash advances at your pace, according to your needs, without any authorization request. * Up to 65% of the property value may be taken out as a line of credit and the remaining financing as a loan tied to the Versatile Line of Credit. 12

15 l ACCESS YOUR CASH ADVANCES WHEN YOU NEED THEM Allows you to group all your loans in a single loan and to access available funds at any time (by cheque, ATM, Internet transfer) without intervention from the caisse l A HIGHLY FLEXIBLE FINANCING TOOL You may convert the balance of your cash advances, in whole or in part, into one or more loans at any time. This allows you to diversify maturities, rates and repayment terms to suit your needs. REDUCE YOUR INTEREST CHARGES By benefiting from a very advantageous interest rate and combining different types of loans and maturities, you could save on financing interest charges. Before WITHOUT VERSATILE Line of Credit Mortgage loan Auto loan Personal loan Credit card Personal line of credit Total + average of rates After WITH VERSATILE Line of Credit Mortgage loan 5-year rate Mortgage loan Yearly rate resetter Auto loan Personal loan Personal line of credit Total + average of rates Balance $200,000 $20,000 $15,000 $2,000 $10,000 $247,000 Balance $100,000 $100,000 $20,000 $15,000 $12,000 $247,000 Interest Rate 4.49% 7.99% 8.50% 19.00% 8.00% 5.00% interest Rate 4.49% 2.89% 6.24% 5.64% 4.00% 3.91% Interest cost savings after 48 months $9, Monthly savings on overall payments $198,.53 By combining all of your loans under the Versatile Line of Credit, you could benefit from substantial savings thanks to much lower interest rates and also free up money for savings. 1 These rates are provided for illustration purposes only and do not necessarily reflect current promotions. The annual percentage rate (APR) is the borrowing cost of a loan in the form of interest rate. It includes all interest fees and all fees that must be included in calculating the cost of credit. Since the Caisses populaires acadiennes require no fees on most loans, the annual interest rate and the APR are usually identical. 13

16 LIFE INSURANCE AND DISABILITY INSURANCE: TWO WISE WAYS OF PROTECTING YOUR FINANCIAL HEALTH A number of consumers believe that by having salary insurance, all they have to do is get life nsurance to guarantee financial security for them and their loved ones. However, in most cases, salary insurance only pays out two-thirds of ones income. How do you then maintain your lifestyle if you become sick or get hurt in an accident? When you decide that you want to take out disability insurance, you need to examine your ability to continue to pay your mortgage, should an accident or illness befall you and prevent you from working for some time. To see if you can continue to pay for your house, take all your financial obligations into account (groceries, clothes, taxes, hydro, school fees for the children, any medication, travel to the hospital, other loans, etc.). No matter what type of financing you choose, loan insurance or line of credit insurance can help you protect your financial security. INDIVIDUAL AND COLLECTIVE DIVIDENDS EVERY TIME YOU PUT YOUR TRUST IN UNI, YOU CAN BENEFIT: l We can pay you an individual dividend At the end of the fiscal year, based on the financial results and the decision of the members at a general meeting. It s like an additional rate discount that no other financial institution can offer you! l We reinvest a collective dividend in the community Today, we give back $50,000 a week in donations and sponsorships to support bold community initiatives that benefit everyone. With your commitment, we can combine our efforts around a social project: inspiring, supporting and financing individual and collective projects that will contribute to a more economically and socially responsible future for our province. UNI MORTGAGE LOANS: ALL THE ADVANTAGES l The "Advance Payment" clause allows you to repay up to 15% of your initial loan amount every year in one or more instalments as an early payment and without penalty. l The "renewal before Term" clause allows you to modify the length of your loan s term in order to establish new conditions adjusted to the market rate. 14

17 FOUR WAYS TO SAVE ON INTEREST AND QUICKLY REPAY YOUR LOAN l Choose the weekly payment mode and pay an extra amount every week. In the long run, you ll enjoy significant savings and reduce your amortization period. For example: $150,000 loan (20 years, 5-year term at 6.65%) Payment schedule Amount Amortization Interest cost Monthly $1, year $119, Standard weekly $ year $119, Accelerated weekly (monthly divided by 4) $ years $98, CONCLUSION : By choosing the accelerated weekly payment schedule instead of the monthly payment schedule, you reduce your amortization period by 3.1 years and save $21, l Increase your regular payments up to double the initial payment, once a year (or once a term if the term is less than a year). l If possible, repay up to 15% of the initial loan every year (or once a term if the term is less than a year). l Coordinate your payroll deposit with the payment of your mortgage loan. A simple way to manage your budget. 15

18 5. The purchase offer THE PURCHASE OFFER You've just found the home of your dreams. It's perfect. It is exactly what you were looking for and is within your budget. So now you re at the final, crucial stage the purchase offer. Remember that the legal implications of buying a home are significant. This section should help simplify the process. Before making your offer, make sure that you fully understand all your commitments. BE AWARE OF THE COMMITMENT INVOLVED The purchase offer is a highly important document that is legally binding on the parties. It is a contract in which one person offers to buy a property from another under certain conditions. Consequently, you should never sign a purchase offer hastily. The purchase offer includes all the details needed to identify the property, along with the conditions for the transaction. For example: l address and lot number l amount of the deposit l date of possession l distribution of taxes l length of time that the offer is valid (generally between twenty-four and forty-eight hours) l what is included in or excluded from the sales price (e.g. light fixtures, curtains, carpeting, household appliances) l approval of mortgage loan (amount, rate, term) l satisfactory inspection of premises by an expert l sale of your current house l any other condition(s) deemed appropriate Forms for presenting a purchase offer are available from your lawyer or real estate agent. 16

19 KNOW WHEN AND HOW TO ACT What happens once the offer is made? The seller can either accept or turn down your purchase offer. If turned down, the seller can then make a counter-offer (on the date of occupancy, price etc.), which you can either accept or refuse. If you refuse the counter-offer, you may make another counter-offer. When an offer is accepted by the seller, it constitutes an agreement to sell. Once a purchase offer has been accepted, neither party can refuse to carry it out. Otherwise, the seller or buyer can be sued for damages caused to the other party. The buyer could even lose the deposit. THE BIG DAY: SIGNING THE CONTRACT Upon concluding the sale, make sure that your lawyer has all the necessary documents on hand (mortgage deed, tax receipts, location certificate/building location survey). With your legal representative, go over the adjustment statement that details the amount that has to be signed over to the seller in order to conclude the sale. Your lawyer will pay the seller on your behalf with your funds, which you have arranged to make available through your advisor. The appended homeowner s checklist will give you a list of things to do before you move. YOUR QUESTIONS DESERVE ANSWERS Congratulations! You have just aced the five steps of the UNI Home Buyers Guide that will enable you to become a homeowner. If you would like more information, or would like to take out a mortgage loan, make an appointment with your advisor. In the years ahead, you may have other projects in mind, such as going back to school, taking a vacation or buying a new vehicle. Whatever you have in mind, your advisor would be pleased to help you turn those dreams into reality. 17

20 Appendix 1 HELPFUL ADDRESSES UNI uni.ca CANADIAN REAL ESTATE ASSOCIATION INSURANCE BUREAU OF CANADA (IBC) Atlantic Provinces Elsewhere in Canada CANADIAN HOME BUILDERS' ASSOCIATION CANADA MORTGAGE AND HOUSING CORPORATION (CMHC) ATLANTIC HOME WARRANTY PROGRAM ENERGY EFFICIENCY PROGRAMS: n Office of Energy Efficiency n NB Power 18

21 Annexe 1 FUTURE HOMEOWNER'S CHECKLIST Moving day is coming fast. But don t panic! Here s a checklist of most of the things to be taken care of before you make the big leap. Allow yourself about two month s time before the move. 1. As soon as possible, reserve a moving company, or a moving van if you re doing the move yourself. 2. Give a notice of departure to your current landlord before the deadline. 3. Clean-up time! Sell everything you don t need, or donate it to charitable organizations. 4. Start packing your boxes as soon as possible and make sure to list the contents on each one. 5. Confirm the moving details with your mover. 6. Go over a list of your valuables with your insurer. 7. Photocopy your medical, dental and school certificates if you re changing neighbourhoods. 8. Notify Canada Post of your address change, as well as all your friends, family and service providers. 9. Go over any final details with your moving company a few days prior to the big move. 10. Return your keys to your landlord, check each room and take one last look. Welcome home! 19

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