We have two comprehensive guides to help you navigate the whole whole process of bying a home, or selling your own. They can be downloaded by clicking on the cover images below. Alternatively there is a Quick Tips Guide which can be read below.
Every year, hundreds of thousands of homes of every style, shape and size are bought and sold across this country. In spite of all the differences, many of them have one very important thing in common: a RE/MAX Professional who is the driving force behind the transaction. RE/MAX agents buy and sell more homes in your area than anybody.
When you choose RE/MAX you are choosing the combined experience we have gained from every deal we've completed. This experience and expertise ensures that you get the best possible price. When it comes to buying and selling smarter, we'll show you...
RE/MAX has done extensive research with homeowners, to better understand what makes them tick. This enables us to help you in many ways. First, knowing your preferences is invaluable when it comes to finding that perfect home. Open concept or traditional? Lofty or intimate?
For most people, the advent of summer brings visions of tranquil outings to the lake, quiet moments by the dock, and the sound of gentle waves touching the shoreline. It also kicks off the traditional cottage season and this year, as in years before, preparation is the key to finding the right property.
Unlike residential real estate, recreational properties are a lot harder to find. Firstly, there’s only so much lake front property available. But this year, demand for property out paces supply in most areas of the country, making timing a crucial component of the buying process.
The key is to act quickly, but cautiously, to secure your piece of paradise. By adhering to the following tips, you can ensure that you’re in a position and ready to move at a moments notice:
Once you find a property you like, don’t hesitate. If priced properly, most cottages move quickly. Finally, a recreational property is your home away from home -- a place to relax, enjoy yourself, and have a little fun.
Buying a home is the largest investment most people will make in their lifetime. The exercise is neither fast nor easy, but a little bit of knowledge will take most of the mystery out of the process.
Before embarking on your journey, take a moment to review the following tips. They will assist in making the process more efficient and take some of the stress out of home buying:
Know how much you can afford. Why waste time looking at homes that are not in your price range?
Determine your down payment. This will allow you to calculate how much you need to borrow and establish a price point.
Get pre-approved for a mortgage.
Investigate alternatives available to you. Government incentives have been introduced to stimulate activity in housing markets across the country. Two of the programs that are currently available -- access to RRSPs for first-time homebuyers and the CMHC’s five per cent downpayment plan -- help make homeownership more attainable for all Canadians.
Home inspections are a small price to pay for the peace of mind of knowing you made the right choice when purchasing a home.
Generally, the home inspection should include an inspection and report on the home’s foundation, roof, exterior, interior, attic, insulation, windows, plumbing, heating, and electrical. The purpose of the home inspection is to describe the condition of the house from a professional and objective point of view. The report should identify any problems that exist at the time of the inspection, as well as identify potential problem areas in the future.
There’s no question that the services the home inspector provides can be invaluable. They provide buyers with the tools to make an informed decision regarding the purchase of the home, and future cost estimates for the repair of the home.
Minor flaws, such as chipped paint and nail pops, are typically not included in the home inspection. These tiny defects should be visible and apparent to the buyer and involve little maintenance or repair. Home inspections are intended to identify any major defects, system inadequacies, or safety hazards at the time of the purchase so that the buyer is not surprised with any unpleasant problems or financial burdens after the purchase.
Potential purchasers can save valuable time and energy when searching for a home by knowing what they can afford well in advance.
Generally, the rule of thumb when purchasing a home is to ensure that your monthly housing costs do not exceed 32 per cent of your gross monthly income, but many factors come into affect when financing a home.
The most important considerations when buying a home are your gross household income, your credit rating, your down payment and the current mortgage interest rate. Although the CMHC (Canada Mortgage and Housing Corporation) will insure mortgages with as little as five per cent down, most buyers contribute a down payment of 25 per cent of the total purchase price. Most lending institutions finance up to 75% of the purchase price in a conventional mortgage.
To determine the price of the home you will be able to purchase, there is a relatively simple formula to follow. Calculate your down payment and multiply it by four. For instance if your down payment on a property is $40,000, you will be able to purchase a home priced at $160,000.
After you have determined what you can afford, remember that your total monthly debt and monthly mortgage payment cannot exceed 40 per cent of your gross monthly income. This includes mortgage payments, taxes, heating expenses, car payments, personal loans, and credit card debts.
Your real estate professional can walk you through the basics in terms of determining what you can afford at the onset. For total peace of mind, it is recommended that you contact your financial institution to get pre-approved, prior to looking for a home.
Spring has arrived and the ritual of opening the cottage is the true sign that a new cottage season is upon us. Every year cottages are weathered and need some fixing up due to the damage caused by the winter.
Although no two cottages are the same and some winters may take a larger toll on the condition of the cottage, there are many tiny things to check when opening the cottage.
Be sure to thoroughly check and fix all possible problems so that you can ensure a safe and fun time at the cottage for your family, friends and yourself.
Far too often, the first impression people have of a home that is listed for sale is their last impression. Simple things like a messy garage or a missing light bulb can make a world of difference when it comes to selling your home in the least amount of time for the best possible price. The following are fast and effective tips on selling your home:
The simplest repairs can make a positive impact when showing your property. Remember you don’t get a second chance to make a first impression, so be sure to make the right one the first time.
Although the home buying process can be overwhelming at times, the key to a smooth and easy transaction for most purchasers is education and preparation.
Determining what you want and need in a home, combined with the knowledge of current housing market conditions will go a long way in easing your mind, especially if they are done before you begin your search.
For example, where would you like to live? Would you like to be close to the office? In the downtown core? Or would you prefer to live in a more rural community, away from the hustle and bustle of city life?
What about the characteristics of the home? How many bedrooms would you like? Bathrooms? Do you need a large kitchen? Is a garage important? How about lot size?
Are you willing to sacrifice location for size and price?
Finally, are you prepared to renovate? Or would you prefer a new home in an established neighbourhood? What about the condominium lifestyle?
Many home buying guides are available to potential purchasers. The Internet, for example, has become an extremely useful vehicle for virtual tours of properties listed for sale, visiting neighbourhoods, choosing a sales associate, etc. Another source of information is your local RE/MAX office or financial institution. Last, but certainly not least, talk to your real estate professional about what to look for in your new home. With years of knowledge and experience, your sales associate is an excellent source of information.