u/Better-Neat-8455

Just starting out our journey as FTHB in canada. Looking at current rates I am confused should I get a pre approval atleast to have a backup if the rates rise October end?

I am not sure if I ll buy in the next 120 days or not, maybe yes maybe no. I kinda have the location fixed and budget but not yet looked at any houses.

It is likely that I might go with fixed rate to minimise the anxiety of rates changes daily. But if you guys can advise otherwise please feel free.

Also will I be able to negotiate best rate during pre approval or the banks only negotiate when you have a finalised property?

I am tenant in a condo in ontario which was flooded due to water pipe burst from the unit above us. The water seems to be inside of the walls flooring and ceiling. The restoration team that are on-site said they’ll be taking out the base board and install fans to dry out and probably the flooring later on. But from their initial assessment it didnt look promising and would need a lot of stripping out and repairing.

The building management and my landlord said my insurance needs to cover move out/accommodation.

I am waiting on my insurance adjuster to contact me back.

With the drying fans running for next 48-72 hours I believe I wont be able to live in the unit. What are the chances that insurance does not consider this “inhabitable” and says that they cant cover my accomodation.

In case I dont hear back from insurance today and it being the weekend later on should I absolutely wait until they confirm that they ll reimburse the accomodation?

Will I be able to recoup the additional utilities due to the heavy electrical equipment running for long times?

Thanks in advance