Buying Tips

Tips about Buying Real Estate In Calgary

Found 83 blog entries about Buying Tips.

Man holding a toy houseThere are many benefits that go along with home ownership such as the freedom to renovate, the ability to turn up your stereo a bit higher and the chance to sit out in your own backyard to enjoy a barbecue. There are also a lot of financial benefits associated with owning a home but we are going to take a look at the top 3 that include:

  • More financial control
  • Higher net worth
  • More borrowing power

More Financial Control

Let's assume that a person takes out a 25-year mortgage at a fixed interest rate. For the next 25 years of his life he is going to be able to budget for the mortgage payment and know exactly what is expected of him every month. A renter, however, never knows exactly how much his rent is going to increase when his

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Pre-Qualified or Pre-Approved: Smart Advice for Home BuyersMost first-time home buyers can't afford a home without a mortgage. When they apply for a mortgage, they must go through the pre-qualification and pre-approval processes. Both processes are mandatory for all people seeking a mortgage.

You can think about pre-qualification as being step one of applying for a mortgage. Pre-approval is step two. Understanding the differences between these two steps and what this means for the home seller can help you be prepared to make an offer on a home you wish to buy. If you're thinking about purchasing a home sometime in the next several months, here's what you need to know about pre-qualification and pre-approval.

For informational purposes only. Always consult with a licensed mortgage professional before

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Trending right now in the bathroom line of products is the rain shower head. If you love your morning shower and want the spray to shower down "just so", you're either going to love or hate this product. It's being promoted as the new luxurious and stylish alternative to regular shower heads but it will be up to you as to whether this is really the next big thing or not.

Why People Love Rain Shower Heads

Engineers have come up with a way to make the shower heads feel just like you are standing out in the rain. Today's models offer a wider surface area and larger water droplets. When these larger drops come down from the shower head they bounce into each other forming streams of fine droplets.

The effect is really quite amazing but whether

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First came the baby boomers, and then came Generation X followed by the millennials. You don't hear a lot of talk about Generation X as much as you do about the boomers and the millennials. While the baby boomers are thinking about their future retirements the millennials are busy preparing for their mid-age years. In the middle, Generation X, the people born in the 1960s and 70s, are purchasing real estate with a different mindset than the other generations.

What Do Gen X Homebuyers Want?

According to a recent survey conducted by TD Bank, Gen X home buyers want freedom from their mortgages and don't want home loans to cramp their lifestyles. More than 2/3 of those surveyed said that they didn't want to allocate their entire budget to a mortgage

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Renewal or Refinance? 5 Factors to Consider
Refinancing a mortgage may be a good decision for a lot of reasons. Interest rates fall, and people tend to get better terms once they have owned a home for a few years. Most homeowners need to renew or refinance the loan after the initial term ends, which calls for a few decisions. The right choice depends on several factors, and it may not be obvious from the renewal notice. Here's what homeowners need to know about the refinancing process, including some options they will need to consider.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

1. Renewal vs. Refinancing

Renewal is not the same as refinancing, and homeowners should keep this in mind. Renewing

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There are numerous advantages to owning a home both inside and outside of the city. What matters most are the needs you have to meet as a home owner, as well as the budget for your home purchase.

Real Estate in the Suburbs

Real estate in the suburbs is normally better priced than inside the city where housing can be more scarce and costly. You will find that for the same number of square feet, you will pay less for real estate outside the city. If you have a family and would like more room without greater financial strain, it would be a good idea to consider looking for real estate in the suburbs.

You'll also have to factor in the time spent commuting back and forth to work. Living in the city will mean shorter commute times to work while

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Mortgage Life Insurance vs Mortgage Term InsuranceWhen you have purchased a new home you'll also be asked whether you'd like to buy mortgage life insurance as well. This is sure is that is offered by the same thing that you're dealing with for your mortgage. In some cases it will make sense to get this type of insurance and other times it's a complete waste of time and money.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

The Difference Between Mortgage Life Insurance and Term Life Insurance

There are significant differences to consider when choosing whether mortgage life or term life insurance is the best choice to meet your specific needs. Whereas mortgage life insurance is designed to pay off

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The 5 year rule Canadian real estateIf you've been looking into real estate in Calgary you've probably run into the five-year rule and may not fully understand it. If so, here's a brief explanation that will help you get a grip on this rule and where and why it applies.

What is the Five-Year Rule?

This is a very general rule that means you should plan on remaining in the home you purchase for five years at least. If you don't, it will hit you in the pocketbook, in most cases. This is due to the closing costs that need to be paid when you sell your house and can be a substantial amount, depending on the value of the home.

As well, you'll have to look at how much equity you have actually built up in your property. When you first take out a mortgage you'll be paying mostly interest

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How Millennials Are Changing the Face of Home BuyingMillennial home buyers would seemingly be the most eager of the population to delve into homeownership. However, current trends, statistics and surveys seem to say otherwise—at least according to details from Angus Reid for CIBC. In all, 42 percent of Canada's millennials have delved into homeownership, with 81 percent of those claiming they intend to sell in the future. Nearly two-thirds of such respondents claim they plan to sell due to the high cost of maintenance, taxes and mortgage payments.

So, what are millennials who have not invested in a home just yet thinking? According to recent statistics, 23 percent of surveyed individuals state that they have no plans to buy a home, while 29 percent doubt that a home purchase will ever be within their

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What You Should Know Before Renting Your PropertyBuying a home and then renting your home to become a landlord can be a great way to really take advantage of a property. Tenants not only pay rent every month, but they also maintain the integrity of the property. (Just the simple act of using the plumbing system regularly can help it stay intact.) And if something goes wrong, such as a leak in the ceiling, the tenant will be there to alert the owner. But just because tenants can be a boon for property owners doesn't mean that all of them are worth the trouble. Here are a few tips to keep in mind before moving forward on a candidate.

For informational purposes only. Always consult with an attorney before renting your home or proceeding with any real estate transaction.

Start with the Regulations

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