Archives for Buyers

Is It Time to Downsize? Ask Yourself These 4 Questions First

December 24, 2015 | Comments Off

If you’ve reached the time of life where you are contemplating downsizing your home, the first question to ask, according to this Realto.com post, is what kind of lifestyle do you want after downsizing? By defining how you want to live, you can narrow your search and focus on housing that will meet those requirements. For example, if you want to escape the bluster of winter and relax on a beach, local climate conditions and geography will drive your hunt. Or, if you like social activities, you would seek active adult communities where you can interact with like-minded
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What’s the best property type for your first home?

December 23, 2015 | Comments Off

Inexperience can cause first time home buyers to be confused by the multitude of available options. This post by Caroline James is an excellent introduction to the advantages and disadvantages of five popular property choices: a large detached house on a suburban block, a small home on a sub-divided lot, a townhouse, an apartment in a small block and an apartment in a high rise block. To read more click here. The post What’s the best property type for your first home? appeared first on Team Realty. Source: Blog
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Canadian Home Prices Are Growing At One Of The Fastest Paces In The World

December 20, 2015 | Comments Off

The Canadian real estate market continues to boom, according to this Financial Post offering. With a year-over-year increase of 8.2%, Canada ranked 4th of the 23 countries studied in Scotiabank’s report Global Real Estate Trends, behind Ireland (13.3%), Sweden (10.5%) and Australia (8.3%). However, the report warns the trend could change if economic uncertainty and high unemployment counterbalance the attraction of low borrowing costs. To read more click here. The post Canadian Home Prices Are Growing At One Of The Fastest Paces In The World appeared first on Team Realty. Source: Blog
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Unchecked Emotions Can Cause Costly Property Mistakes

December 18, 2015 | Comments Off

We are sometimes enthralled by the presentation of a property, but ignoring the things we cannot see or overlooking obvious problems and risks can lead to disastrous consequences. To the extent possible, put your emotions aside and make buying property a business decision based facts and data. Getting Too Attached To A Property Impulse decisions in real estate can cost major dollars and can have life altering effects. If you fall in love with a house, you may be tempted to waive conditions or pay more than planned in the rush to close the deal. The problem is,
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The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care

December 17, 2015 | Comments Off

According to this realtor.com post, the number of real estate appraisers is dropping to the point where parties on both sides of real estate transactions could suffer. Since most residential mortgages need an appraisal before a sale closes, a shortage of appraisers will affect buyers, who rely on accurate valuations to structure their offer, and sellers, who can lose a deal if appraisals come in low. The Appraisal Institute notes the number of appraisers has dropped 20% since 2007 and predicts a 3% annual decline for the next decade. Fewer appraisers means longer waits, which could delay a closing. That
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5 must-do’s for first-time home buyers

December 15, 2015 | Comments Off

This homeownership.ca article by real estate lawyer Mark Weisleder gives the essentials for the novice buyer. Start by calculating what you can afford (general rule is 30% of gross income). Then, figure out what is important to you and search for properties with those features. Ask the seller about flooding, leaks, mould, insurance claims and neighbourhood problems. Pay for a thorough home inspection by a qualified inspector and buy an after-sale warranty. To read more click here.
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Why Millennials Are Moving Home Design Trends

December 11, 2015 | Comments Off

In this article for Freshhome magazine, Shelly Little explains how Millennials, the generation born between 1980 and the early 2000’s, are redefining home design. According to her research, Millennials value money and success, individuality and urbanized environments. And, they want this outlook reflected in their homes. They want small designs that are unique and functional so they are willing to buy fixer-uppers or engage in DIY projects. They also desire technological innovations and smart automation. These attitudes are causing a major shift in the way homes are being designed and built. To read more click here.
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Buying Near Parks and Recreational Facilities

December 10, 2015 | Comments Off

According to RealtorMag, twenty-three percent of recent buyers indicated that convenience to parks or recreational facilities influenced their choice of neighborhoods. Proximity to parks and recreational facilities was the most important to recent buyers aged 34 and younger, and to those aged 35 to 49. Here are some reasons to believe those numbers will rise. Public Health Concerns The alarming increase in obesity, especially among children, has focused attention on how important physical activity is to our overall wellbeing. Governments at all levels are promoting the benefits of active living and we have become more receptive to
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Emotional Homebuyers Can Lose Out On The Best Deals

December 8, 2015 | Comments Off

When we really like a property, we can overlook or downplay its negative aspects. This homeownership.ca post advises us to approach purchasing a home as a business decision and to remove emotion from the decision. Before viewing any properties, contact a financial adviser to set your budget, a mortgage broker to get pre-approval for that amount and a real estate agent familiar with the area(s) you like. Call and introduce yourself to 3 professional home inspectors – one should be available when you’re ready to bid, so you avoid stressful delays, and any temptation to skip
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Underwriting insights! What Every Homebuyer Should Know Before Applying for a Mortgage

December 6, 2015 | Comments Off

This homeownership.ca post tells why an understanding of underwriting is a key advantage for home buyers seeking a mortgage. Work with a mortgage professional to get pre-approved for a mortgage so you know your price range and can make an offer instantly. The pre-approval process determines the size of mortgage and type of home you can afford. You will need to assemble your credit report and other documentation (financial and employment history, creditworthiness, income) the lender or mortgage insurer needs to process the application. The documentation required varies depending on individual circumstances. For example, self-employed applicants should be prepared
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LAUREE JOHNSON