Archives for Buyers

Buyers Toolkit – Springtime

Buyers Toolkit – Springtime Spring is in the air, and the real-estate market is ramping up for the beginning of buyers’ season.  Things tend to move faster in the spring and houses for sale are often sold shortly after they are listed.  As a potential home buyer, it is important to be prepared as possible before you start looking at potential homes – that way, the chance of losing your “dream home” to another buyer is greatly decreased. You may be wondering … “What are some of the important things that can help you stay on-top of, and ahead of
Read More

New Mortgage Rules – Renewing and Refinancing

New Mortgage Rules – Renewing and Refinancing January 1st, 2018 Canada’s new mortgage rules came into effect and it was big news. These new rules appear to have the greatest impact on those looking to qualify for a new mortgage but if you are looking to renew or refinance your mortgage, you may be impacted as well. At the centre of the new rules is a stress test requiring applicants to qualify at a rate at least 2% higher than the rate they will be paying, regardless of the down payment they are making on the home. The new rules
Read More

SPRING into ACTION: Buyers

BUYERS Spring hasn’t begun to crack through the winter thaw, but that doesn’t mean there’s time to wait if you’re planning on purchasing a home this spring. Be prepared for the Spring Market, and ensure your home buying experience is a great one by organizing your paper work, mortgages, ideal houses, and pricing ahead of time. Spring into this home-buying season ready to buy, so that house you’ve been dreaming of, doesn’t land in the hands of another buyer. Credit Check A credit score is a numerical representation of your credit report, and having good credit is like gold when
Read More

Buying without a Realtor

Buying a house is a big investment, so it is natural to look for ways to save money wherever possible. Some buyers and sellers may assume that they can stretch their budget further if they handle the entire purchase themselves. Doing this may seem like a good way save you money, but can also lead to problems and higher costs in the long run.  As a buyer, hiring a Realtor typically does not cost you a cent; your Real estate agent will be paid from the commission on the sale of the home. Hiring a professional who is on your
Read More

What Canadian home buyers need to know NOW about the upcoming changes to Mortgage rules

What home buyers need to know before 2018 As of January 1, 2018, Canadian homebuyers will have to meet stiffer requirements in order to qualify for a mortgage with a federally regulated mortgage lender. Why are the Mortgage Rules changing? As Canada’s financial “watchdog” OSFI believes these new rules will decrease the risks for Canadian households with significant debt if and when the interest rates rise. Are you a Confused by the upcoming changes to the mortgage rules? Don’t panic. Our very own Kent Browne, Owner and Broker at Royal LePage Team Realty, sat down with Mortgage Broker York Polk 
Read More

New Mortgage Rules for January 2018

Are you a Canadian homeowner? A first time home buyer? Do you see yourself purchasing a home for your family in foreseeable future? If you’ve answered “yes” to any of these questions, or have considered tapping into the real estate market in the New Year, keep reading! The time has come, once again, for the Canadian mortgage rules to change. Effective January 1st , 2018 the Office of the Superintendent of Financial Institutions (OSFI) will be implementing new mortgage regulations that may ultimately reduce purchasing power on conventional purchases and refinancing of all homes. Of course, as word of these new
Read More

Millennials-Turned-Homeowners

Home ownership is something that comes with great pride. And with it being one of, if not, the biggest, most sought-after purchase (and decision) that you will ever make in your years as an adult, it’s recommended that you thoroughly prepare yourself for the emotional and financial attributes that go along with doing so. This said, there are people of every age group and at each stage in their lives that look into the real estate market and agree to buy or sell their home. Most recently, however, it’s the millennials that are powering the housing market. Millennials – those
Read More

Backup Offers: What They Are and How They Work

The home buying process can be thrilling and exhausting at the same time.  Investing in real estate is something worth waiting, saving and hunting for – not to mention something worth spending time perfecting – but what happens if you find the home of your dreams only to find out that it’s already been snatched up by another buyer? You may feel discouraged, wondering if you’ll ever find another home like that one again. Sound familiar? Well, before you nod your heads in agreeance, don’t! Not all hope is lost, folks! Introducing something called the backup offer: the long shot
Read More

Purchasing a Home in Canada's Best City to Live

We are very fortunate to live in a City that offers economically booming neighbourhoods and family-friendly communities. In Ottawa, there’s bound to be something for anyone and everyone. In fact, according to MoneySense, Ottawa has been ranked Canada’s Best Place to Live in 2017. Why? Well, aside from being home to one of the most respected tech hubs in Canada, having an extremely low-by-comparison unemployment rate of only 5%, and host to some of the greatest, most talented chefs in the country, Ottawa is a safe and affordable city that hasn’t been caught up in the real estate frenzy that’s
Read More

Buying a Home : Accepting Change Outside Your Wishlist

Truth be told, there are a lot of decisions to be made when it comes to purchasing a home. Regardless of where we stand on the home-buying scale – first time homebuyers, second time homebuyers, or those just simply looking to downsize and/or relocate – there are questions to be asked, and answers to be had. Yes, the onset of this process may seem a little daunting at first, however, that very common (and overwhelming) feeling of “where do I even start” eventually shapes itself into the certainty that you’ve found the home you’ve been waiting for. So, where do
Read More