Educate yourself! Consult with your Real Estate Agent and local municipal authorities to learn of any abnormalities and restrictions that apply to the property.

  Do you intend on converting the basement into an in-law suite?

  Can you run your commercial business from home?

  Is there a senior's residence next door that prohibits noise after 9:00 p.m.?

  Can you park your recreational vehicle in that three-car driveway?


  This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice.

     We are all familiar with more funds going out than what is coming in. Kids these days always want the best regardless of whether they can really afford it or not.

     Careful budgeting is the order of the day! First time purchasers be warned that it is very easy to buy beyond your means, as you count on dual incomes until the new baby arrives. It is better to buy the home you need and con comfortably afford than experience being forced to sell and buy down. House rich and cash poor is not the way to experience life!

     On the opposite end of the scale is purchasing a home that offers less function and feature than what you really need. Inevitably, you will end up purchasing the right home and have to bear the cost of reselling and moving again.


  This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice.

     A critical error you can make it to forget about the needs of your children. Is your new home close enough for the children to walk to their new school, is there bus service just down the street, does the school offer academics suitable to your children's needs, or is it right next door and you've reached a point in your life where you would prefer quiet solitude?

     Caught up in the passion of your new home, it is easy to overlook and undermine these questions. After six months of taxiing your children to and from school, you may find yourself experiencing the need for more freedom. By graduation, your children may find that had they attended another secondary school, the university prerequisites would have been fulfilled. You may thoroughly enjoy sitting alone in your private backyard only to find recess noise and the school's outdoor gym activities hamper your need for solitude. Determine the answers with your Real Estate Agent before signing on the dotted line!

     This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice

     Buying a home that is too much of a fixer-upper is a common mistake. You've heard the stories or maybe even made the comments yourself, "It's only superficial, and It won't take too much money to fix that, we can renovate on the weekends, or I didn't realize it would consist of hiring a structural repair artist." Nightmares happen when you take on more than you can handle.

     Purchasing a fixer-upper can equate to replacing everything and still ending up with a very expensive brand new old car! Understanding what types of repairs a home needs and the potential cost and time required for each of these repairs is essential for making an educated purchase.

     The thought of your own swimming pool, the manicured lawns, or the beautiful English garden in full bloom. It's lovely to look at, but do you want to spend the time required to keep everything in top working order?
  
     Do you have the funds required to hire a full-time landscape architect? In some cases, you may be better suited for townhouse living where yard maintenance is part of the contract, and the local recreation center offers swimming and exercise programs tailored to your lifestyle needs.


  This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice

     Without the aid and assistance of a professional Realtor, purchasers often pay far more than fair market value. It is not uncommon to hear horror stories where thousands of dollars were wasted because the market was unknown.

     Market areas differ - what you sold your last home for does not necessarily equate to equal pricing structures in your new neighbourhood. It is my responsibility to know what is locally considered good value for investment dollar. If you are relocating to a new city, engage the services of a local Realtor who intimately understands the fluctuating market trends and will provide a comparative market analysis on the home you wish to purchase.


  This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice.

     Consider an independent home inspection. Careful examination by a professional will remove all doubt! Is that tiny crack in the foundation a repair nightmare or merely settlement? Are the walls infested with termites? Does your budget have room for thousands of dollars in reconstruction costs? For a few hundred dollars you can obtain an extensive inspection report that will point you to any structural defects in the building. Ascertain the cost of repairs prior to entering into a binding contract. Write your purchase contract subject to a satisfactory home inspection so you can renegotiate if the repairs are beyond your current budget. Or opt for another home more suitable to your needs.


  This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice.

     Once you locate a home that appears to fit everyone's needs, take a second look! If you originally viewed the property on a weekend, drive by during weekday rush hour. Check with the local municipal authorities to see if a major highway plan is in the works - one that will produce a backyard oasis of incessant noise. Investigate airport extensions and shopping center improvements. Heavy traffic blaring into your quiet serenity can destroy your solitude.

     Consider your outdoor lifestyle. Do you hold family barbecues, enjoy sitting outside, or invite family and friends to vacation with their recreational vehicles in your backyard? In many cases, excessive traffic noise can hamper a quiet conversation by the creek. You many also find out for the first time just how lightly you sleep. There are also the potential toxic fumes leaking from vehicle exhaust. Do you want your children and yourselves breathing this in? It may take only a month or two to realize the grave mistakes you've made.


  This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice

Home Buyer's Wish List

Location:

1.  What part of town (or country) do you want to live in? ______________________________

2.  Do you want to live in an area with a Community Association? yes___ no____

Community Amenities:

3.  Shopping near by
    
  Fitness Center / Gym
  Community swimming pool
  Golf course
  Basketball court
  Tennis courts
  Clubhouse/activities
  Gated community

4.  Do you need access to schools? yes___ no____

5.  Do you have to be close to public transportation? yes___ no____

General Home Features

6.  What price range: Min:_________    Max:________

7.  Type of House?

  One story
  2 story
  Townhouse
  Condo
  Mobile home

8.  What age range are you looking for ? _______

9.  What style house appeals to you most?

  Contemporary
  Traditional
  Southwestern
  Colonial
  No preference

10.  How much renovation would you be willing to do? ______
___________________
11.  Do you have any animals that will require special facilities?

  yes___ no____
  
  If so, what? ____________________________

12.  The Lot

  Large yard (1 acre or more)
  Small yard (less than 1 acre)
  Fenced yard
  Garage Carport
  Patio/deck
  Pool
  Outdoor spa
  Extra parking
  Other buildings (barn, shed, etc.) ______________________________
  Special view of what? ____________________________________

13.  The Interior

  How many bedrooms: must have?____ like to have? ____
  How many bathrooms?_____
  How many square feet? Min:_______ Max:______
  Features of the House?
  Eat-in kitchen
  Separate dining room
  Formal living room
  Family room
  Separate den or library
  Full Basement
  Laundry room
  Workshop
  “In-law” apartment
  Spa in bathroom
  Air conditioning
  Fireplace
  
14.  Floors:
  
  Wall-to-wall carpet
  Ceramic tile
  Hardwood floors
  No interior steps _____
  
15.  Lots of windows (light)  _________

16.  Special Features?  ____________________________________

     A $10,000+ mistake can occur when you purchase with only the immediate timeframe in mind. You opted for no family room, and three months later are delighted to learn your first child is on its way. Or your children all leave home in the same year and now you find yourself rambling around in empty rooms! On the other hand, when parents downsize too early, they find their adult children have rebounded with a few extra additions! Consider all your options carefully.

     Saving your hard earned money is a definite plan!

Most mortgages have the option to allow payments to be made on a weekly or bi-weekly basis. This option may be desirable for two reasons. The first is it can save you money as you can expect to pay off your mortgage about 4 years sooner. This can save you dramatically over the life of your mortgage. The other reason why these options are so popular is that if your employer pays you on a weekly or bi-weekly basis, you can simplify your budgeting by making the payment line up with the way you paid.

Paying extra amounts on your mortgage can make a big interest saving over time. When we select a mortgage company, privilege payments options are something that we look for. A 20% privilege payment will allow you to pay off up to $20,000 per year on a $100 000 mortgage. It is important that the privilege payment also be flexible to allow you to pay smaller payments on the mortgage and as often as you wish. An extra $1000 periodically paid on a mortgage can help you become mortgage free faster.

When you require a mortgage for more than 80% of the purchase price of a property, that mortgage must be insured by Canada Mortgage and Housing (CMHC) or GE Mortgage insurance. The premium charged by these company`s decreases as the down payment increases. When you finance your property at 95%, a premium of 3.75% is added to the mortgage. By increasing the down payment to 10% of the purchase price the premium can be reduced to 2.5%. If you can put down 20%, you can avoid any additional insurance fee. Depending on your situation there are ways that you can structure this financing to avoid the CMHC or GE insurance premium.

As mentioned above, when you put a 25% down payment on your purchase you can avoid the CMHC premium. More importantly the larger the down payment, the lower the amount of interest you will pay over the life of your mortgage. It is important to note that it may not be wise to stretch yourself to increase your down payment and end up borrowing on credit cards or a line of credit at a higher rate.

The options for mortgages available can be very confusing for most mortgage shoppers. Terms for mortgages vary between variable and fixed rate, 6-month terms to 10 year terms. Taking a variable or floating rate mortgage can have savings. Typically the shorter the term or guarantee of the rate, the lower the rate will be. This does not always happen, depending on the market place and the economy, but history has shown that short-term rates tend to be lower than long-term rates. The up side of variable rate is the strong potential for interest rate savings. The down side is the fact that you are accepting the interest rate risk without a guarantee. If you are considering a variable rate mortgage you need to look at your own risk tolerance, and your cash flow available to deal with potential increased payment. Considering projections of rates and where we see interest rates heading can also be important in this decision. Make sure you talk to an expert when you are making this decision.