They say the three most important considerations when buying real estate is location, location, location. But what does that mean? How do you break that down? I mean, it sounds cool but how does anyone apply it in a useful way to navigate the biggest purchase of their life? Recently I took the time break it down and map it out in a useful way to the average buyer. I drew on the years of experience I had helping people buy homes in the new home industry where, as a sales professional I had little control over the physical location. I was in one community sometimes having inventory on only one street. I also spoke with people in my own circle about how they found their perfect home. What mattered to them and how did that fit the paradigm of location,…
Buying a new home takes some planning and some strategic saving; but, with a little forethought coupled with action, you can make home buying a reality.
Be aware that you will need at least a 20% down payment of the purchase price of the house to avoid having to use Canadian Mortgage and Housing Corporation (CMHC) for default insurance. However, using default insurance through CMHC allows you to place a down payment of only 5% of the purchase price of the home. Keep in mind that you will pay more on your mortgage by obtaining default insurance. Below are some tips to help you save money for a down payment on a house:
Take a look at your monthly expenses. Determine what you can realistically afford to put away per month. Once you have determined…
As you've probably noticed, credit card companies regularly offer bonuses to get you to apply for their cards. For example, one such card company offers opportunities to buy tickets to concerts and other events ahead of everyone else. It's their "front of the line" service.
When you’re searching for a new home, wouldn't it be great if you could get to the front of the line on desirable properties – before other buyers get the chance?
Well, in a way, you can.
The first thing you need to do is create a profile for the specific type of home you're looking to buy. That profile will need to include the basics, such as type of home (e.g. detached), size and rooms (e.g. 2000-2,500 sq. ft., 3 bedrooms, 2 baths), and your target…
When looking at purchasing a home, one thing that many people are concerned about is the ability to put a down payment on the property. A 20% down payment of the purchase price of the home is typically required. If a 20% down payment is not doable, then a 5% option is available. However, you are then required to have mortgage insurance through CMHC to be able to qualify for the mortgage.
Regardless if it is a 5% or 20% down payment, the government of Canada allows home buyers to use their RRSPs to purchase a home without a penalty for withdrawing the RRSPs This is called Home Buyer’s Plan or HBP.
However, before you withdraw anything, the following conditions must be met:
1) The maximum amount you can withdraw from your RRSPs per year is…
Beyond Boxes: Packing Materials You May Need for your Move
As you can probably guess, when you're preparing to move, you'll need boxes and tape — and, perhaps some bubble-wrap or old newspapers to use as protective wrapping for delicate items.
But that may not be all you need. Take a look at this list and see if you'll want any of these on hand while you’re packing or on moving day.
- Colour markers for labelling boxes. (Tip: Colour coding boxes by room will make unpacking much easier.)
- Stretch wrap to protect larger items that can't fit into a box.
- Small plastic bags to store dis-assembled parts, such as sofa legs, cabinet hardware, etc. (You don't want to lose them!)
- Moving blankets to protect floors.
- A dolly or hand truck
When buyers come to see your home, the first thing they notice is how your property looks from the curb. That first impression is powerful and lingering. If buyers don't like what they see, it can influence how they judge the rest of your property, regardless of how great it looks on the inside.
You definitely want to do whatever you can to boost curb appeal. Here are six affordable ideas to consider:
- Driveway sealing. This makes the pavement look darker and less faded. It also helps cover up some of the cracks. Sealing won't give you the "brand new" look of repaving, but it's close — and significantly less expensive.
- Exterior window washing. Washing the front windows makes them look clean and bright. In fact, the effect can be stunning.
Looking for a REALTOR® can be a difficult process. Sometimes it seems like every family and friend recommends someone, so where how do you narrow it down? I always recommend starting with core values. When you're looking for your next home, you want to work with someone who understands and aligns with your values. My core values are health, honesty, wisdom and courage. Staying true to those values, I love helping people to live fuller, happier and stronger lives. I love helping people live better! I believe that living in a home that works for you and your lifestyle is a key cog in living better.
After values, you want a REALTOR® with knowledge and local experience. I have been helping families in the Edmonton area find their perfect homes for…