The real estate market can be an intimidating place to navigate, especially for first time homebuyers. There are a lot of predictions in the real estate market for 2015 in relation to dropping oil prices, but overall economists seem optimistic. In a report released last week by ATB Financial, chief economist Todd Hirsch says he sees the dip in oil prices as short-term and believes in a year we will look back and see it has a lot of fuss about nothing.
Here are a few reasons purchasing a home should be in your plan for the near future:
Current low interest rates allow buyers to get more house for their dollar...
How will the Alberta New Home Warranty provide you security when you purchase your multi-family home?
As of February 1, 2014 every new home built in Alberta is protected under warranty.
Alberta's New Home Buyer Protection Act encourages ever higher quality standards from builders and reflects the Government's desire to ensure all new homebuyers receive even more protection for the single most expensive purchase they may ever make. This act gives buyers a clear idea of what to expect when buying a home, as well as protect them when things do not go as planned...
Our trusted mortgage advisor, Troy Champ with Jencor, recently shared a list of items of what not to do before your mortgage advances. This would cover the period of time from when you receive pre-approval to when you get the keys for your new home. Most of these items would be common sense, but honesty is always the best policy. If you are unsure if something will affect your mortgage, a quick photo call to your lender should clear things up.
Don't quit your current job, or do anything to reduce your current income
Don't change the status of your employment from full-time to part-time
Don't neglect to inform your lender if you are currently on probation at work
Don't neglect to inform your lender if you or your partner are currently on parental leave
Don't neglect to inform your lender if you are currently on short or long term disability
Don't apply for any credit - loans, credit cards or "don't pay for __ years"
Don't close accounts with zero balance
Don't co-sign any loans or mortgages for anyone else
Don't stop paying your bills, including your current mortgage
Don't spend any portion of your downpayment, or any other funds you may have set aside for your closing
Don't pack away and documents that may be required to verify income or down payment
Don't make large deposits to your bank account without supporting documentation
Don't change anything on your transaction without notifying your lender, including upgrades
Communication with your lender is very important to ensure a smooth process...
Many people associate spring of their home with spring cleaning. Now don't get me wrong, a deep cleaning of potential problem areas is definitely part of maintenance. These areas would include anything exposed to water and food, under and around the kitchen sink and cabinets, the area behind your toilet, and that little hole at the front of your bathroom sink.
However, there are lots of other items to maintain in order to keep your home and your family healthy. Here are a few things that need to be done around your home...
What Makes A Holmes Approved Home Better?
Mike Holmes
I didn’t get to where I am by cutting corners. I’m not that kind of risk taker. And neither should you when it comes to your home.
Buying a new home is exciting, but it also makes a lot of homeowners nervous. I don’t blame them--they’ve probably seen the horror stories.
And after working 30 years in the industry, believe me--I’ve seen more than my share too.
Usually I get called in to fix a bad job, or to help homeowners that have been screwed by a contractor, or a home inspection that missed all the red flags...