Home Buying Tips

The house hunting process can be fun and exciting, and visiting open houses is all part of the action. If you finally find a home (or two) that appeal to you, and you make your way to an open house or showing, now what? With a few tips, you can ensure that your next open house visit is a successful experience.

Look at all the elements that are important for you and your family:

  • Are there enough bedrooms or bathrooms?
  • Is the house the right size?
  • Is there enough storage space?
  • Is it in the right location?
  • Is it close to schools?
  • Is the house in good repair?
  • Does it fit your needs?

You may walk into a home and fall head over heels in love with it. But is it because it's beautifully decorated and furnished? Remember,…

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Thinking of making the move to homeownership? Great! First there are some questions you should ask yourself to properly prepare for the exciting process ahead of you.

  • Are you ready to buy? Owning your own home is about more than just being able to decorate any way you like; it's about being prepared to maintain your home over the years, realizing that part of your income and time will go towards repairs and maintenance. It's about being willing to take the risks of home ownership with a realistic expectation of the rewards.
  • How much can you afford? It can be discouraging to find that your salary won't stretch as far as the home you want to own. However, sacrificing a huge part of your income just to pay the mortgage can very quickly make home…

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When it comes to purchasing power, the three most important factors are your income, debts and down payment. Any one of these can greatly impact the amount of mortgage you qualify for. Lenders are primarily concerned that housing expenses not exceed a certain percentage (28% - 32%) of the homeowner's gross monthly income. Housing expenses include monthly mortgage principal, interest payments, property taxes, condo fees, utilities and homeowner’s insurance.

Here's some solutions to some common debt and down payment problems:

DEBT

  • Consolidate your debts by taking out one loan and paying off your bills with the money.
  • Pay off long-term debts by using some of your cash and making a lower down payment.
  • Pay off long-term debt by selling…

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You found a home (or two) that appealed to you, and you finally made your way to an open house or showing, so now what? 

Look at all the elements that are important for you and your family:

  • Are there enough bedrooms or bathrooms?
  • Is the house the right size?
  • Is there enough storage space?
  • Is it in the right location?
  • Is it close to schools?
  • Is the house in good repair?
  • Does it fit your needs?

You may walk into a home and fall head over heels in love with it. But is it because it's beautifully decorated and furnished...and it shows like something out of a magazine? Remember, you're not buying the furniture...when the owners move out, the furniture goes with them. The home may have 3 bedrooms...but you need 4. Maybe it has a…

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The task of buying your perfect home with ease can be marred without any help from real estate professionals. If you are able to find a good REALTOR® though, the entire process of home buying can be convenient, hassle-free and even enjoyable for you.

In fact, good real estate agents in Calgary are not really hard to find. But it's also true that you might bump into average ones or worst, bad ones. So how do you actually find REALTORS® that are not just good but are reliable and credible too? Here's some advice: 

  • Get recommendations from people you trust: One of the first things that you should do when you're looking for a REALTOR® is to ask your trusted sphere of influence. Reputation has a lot to speak for in the case of realtors. If someone…

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We often advocate for living in northwest Calgary, with all the great communities and amenities there. However, recent research from the 2016 City of Calgary census and the Avenue Magazine Best Calgary Neighbourhoods List give us even more reason to preach investing there. 

Overall for 2016, Calgary's population increased by 0.36 per cent to 1,235,171, but two northwest neighbourhoods saw an increase of over 1,000 residents in the past year: Nolan Hill and Evanston. 

Here's some notable figures on northwest Calgary real estate from the census and Avenue survey: 

  • The northwest communities of Tuscany and Panorama Hills are the top communities in Calgary with the most single-family homes. Tuscany and Panorama Hills are also among the communities…

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Finding a home you know you can live with can be difficult business. Whether buying a brand new house from a builder or a resale home there are a number of things you should look for. It’s also important to keep in mind that new homes can be just as problematic as older homes. Let's start by saying it almost always makes sense to hire a qualified home inspector and it can potentially protect you from costly surprises down the road. However, if you anticipate serious problems (that you’re not prepared to remedy) in the house, you’re better off saving the cost of a home inspection and moving on to a more suitable prospect.

Here are some things to watch for to determine a house’s overall quality before you commit to the cost of hiring a house inspector:

…

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Thinking of making the move to homeownership? Great! First there are some questions you should ask yourself to properly prepare for the exciting process ahead of you.

  • Are you ready to buy? Owning your own home is about more than just being able to decorate any way you like; it's about being prepared to maintain your home over the years, realizing that part of your income and time will go towards repairs and maintenance. It's about being willing to take the risks of home ownership with a realistic expectation of the rewards.
  • How much can you afford? It can be discouraging to find that your salary won't stretch as far as the home you want to own. However, sacrificing a huge part of your income just to pay the mortgage can very quickly make home…

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An area home buyers often forget to budget for is closing costs. Whether you're selling or buying real estate in Calgary, there will be certain costs associated with the finalization of the transaction that you should be prepared for. This is a brief rundown, and just a guideline, your REALTOR® or broker can provide you with more exact numbers.

For Buyers:

  • Costs can range from 1.5 to 5% of total purchase price, excluding sown payment. For example, a purchase price of $250,000 would yield:
  • Inspections: $400-$500

  • Mortgage application (could be waived) $200-$400

  • Mortgage insurance $2000

  • Legal fees $900+

  • GST (for new homes only) - varies

  • Home and content insurance $450 

  • Moving and/or storage $500

For Sellers:

  • …

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Should you buy a brand new home that you can customize, or choose a resale one that's move-in ready? Both options present advantages, and there is no right answer, it's totally up to the buyer.

Not sure if you should buy a new build or a resale home? The decision isn’t always simple or obvious. That’s because it’s more than a dollars-and-cents debate, it’s a choice between lifestyles. Some people love the clean lines of a modern space while others fall in love with architectural embellishments of older homes. To help you decides answer these six simple questions. [Money Sense]


We've outlined a couple benefits of each:

Buying New

  • Personalized home: with new homes you can choose the colours, fixtures and upgrades such as lighting and…

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