What’s the best property type for your first home?
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 […]
Canadian Home Prices Are Growing At One Of The Fastest Paces In The World
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 […]
Unchecked Emotions Can Cause Costly Property Mistakes
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 […]
The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care
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 […]
5 must-do’s for first-time home buyers
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 […]
Why Millennials Are Moving Home Design Trends
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 […]
Buying Near Parks and Recreational Facilities
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 […]
Emotional Homebuyers Can Lose Out On The Best Deals
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 […]
Underwriting insights! What Every Homebuyer Should Know Before Applying for a Mortgage
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 […]
Ottawa Real Estate Update: November 2015
Mild weather and post-election enthusiasm spurs on home buyers! Statistics are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties. If you are curious about the value of your home and/or specific neighbourhood statistics we would love to help. Contact us. […]