Step 1 — Is Homeownership Right for You? Buying a home is one of the biggest financial and lifestyle decisions you will make, so it pays to make an informed decision by first looking at the main advantages and disadvantages of homeownership.   Step 2 — Are You Financially Ready? In this Step you will find a number of simple calculations that will help you evaluate your current fin...Read More

When it comes time to make an offer you will require current market information and assistance in drafting your offer. You will need a Real Estate Professional. A Real Estate Professional will communicate your Offer to Purchase to the seller, or the seller's representative, on your behalf. Sometimes there may be more than one offer on a property at the same time. A Real Estate Professional ca...Read More

There are six key components to the elements of an offer. They are: Price Depending on the local market conditions and information provided by me, your Real Estate Professional, the price you offer may be different from the seller's price. Deposit Your deposit shows good faith and will be applied against the purchase of the home when the sale closes. As your Real Estate Professional I can ...Read More

A REALTOR® will not take it for granted that you know all the ins and outs of the buying/ selling process. Instead, he or she will provide you with a full explanation of what to expect and that's important so you're not faced with any surprises along the way. An Assessment of Your Needs One of the first questions a REALTOR® will ask is, Why are you moving? A REALTOR® will als...Read More

  Purchasers in most large Canadian centres can add Land Transfer Taxes to their list of closing costs. Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are a basic fact of life. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, tax...Read More

Closing costs are a list of charges your lawyer presents to you on the closing date of your home. Many people are surprised at the additional costs over and above the price of the home. According to the CMHC and Genworth Financial you should have at least 1.5% of the purchase price for closing costs in addition to the down payment (have around 2.5% to be on the safe side). The costs vary among pr...Read More

Title insurance is growing in popularity in Canada. But what is it exactly? Should you get it? Do you need it? Whether title insurance is right for you is something you should discuss with your lawyer, as it depends on the circumstances of your transaction. This article will provide you with some background information about title insurance to help you make an informed decision. Title to Propert...Read More

The size of a down payment can vary. Depending on the type of mortgage, down payments generally range from 5% to 20% of the purchase price. To obtain a conventional mortgage, home buyers are required to put down at least 20% of the purchase price or appraised value (whichever is less) as a down payment. If you don't have the necessary time or resources to save a full 20% d...Read More

This is a decision which many people face, and the decision is not as easy to make as it may sound. As a homeowner, you can reasonably expect the equity in your home to increase over time as your mortgage is paid down. That, combined with regular appreciation in property values, can be a rapid and rewarding way to increase your net worth. In contrast, the person renting over the same amount of ti...Read More

Bungalow A one-story house, cottage, or cabin. Condominium A large property complex that is divided into individual units and sold. Ownership usually includes a non-exclusive interest in certain "common properties" controlled by the condominium management. Close The final procedure in a home sale in which documents are signed and recorded. This is the time when the ownership of the pro...Read More