If you're like most Albertans you prefer the fixed-rate mortgage. This is according to a recent survey conducted by CIBC showing that most residents in the province would select a mortgage with a fixed-rate over a variable rate.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
What Are the Pros and Cons of Variable-Rate and Fixed-Rate Mortgages?
An adjustable-rate mortgage (ARM) has fluctuating payments based on the specific terms of the mortgage and a benchmark interest rate that is chosen by the lender. This can be beneficial for home buyers, especially for those who are expecting changes in the next few years and are not looking for long-term
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It's important to take certain precautions when you're house hunting or looking for a place to rent. In today's tight real estate market in Calgary, it can be easier to fall prey to a scam due to desperation. In order to help you avoid these scams, we have put together some common sense guidelines to follow.
Recently, a home in Calgary went on the market that had a dark past associated with it. The home is the one where multiple murders occurred this year. Across Canada every year, many homes get listed where violent attacks have occurred. In the industry, these homes are referred to as "stigmatized properties".
Buying a new home is a huge investment, and buyers want to ensure that the home they buy is right for them. As buyers go to home showings, they will discover that some homes have big problems that become deal breakers. However, what they may not realize is that homes may also have problems that aren’t so obvious. Here are some big red flags, both visible and otherwise, that all home buyers should be looking out for to protect themselves from a bad deal.
There are many, many books written on negotiation. There are as many good books as there are bad. In the past, manipulation used to be the standard method of choice for negotiating. Learning how to control and use subtle techniques to get what you want, and then leave the other side without a leg to stand on. This ultimately led to prolonged negotiations, with one side feeling cheated. As a result, that side would likely choose not to do business with the other party in the future, or would go out of their way to compensate for their losses. As a result, both sides would lose.
This is an old made-up story but one that makes a lot of sense. The heat turned off one day and a couple had to call in a specialist to look at their furnace. The house was getting colder and the children were starting to complain. When the furnace professional arrived he was warmly welcomed into the home and made his way downstairs. Upon arriving at the furnace he gave it a quick inspection and then gave it a good bang in a certain spot. The furnace instantly turned on, the couple was elated and they all headed upstairs to give the children the good news.
A septic system may last for about a quarter of a century. For someone looking to buy a home, this is an important consideration. Septic systems pose a number of unique questions and concerns for home buyers, so it helps to have the facts before making a final decision.
When most people think of Calgary real estate investments they envision taking their money and putting it into some type of commercial property. This isn't the only meaning for a property investment though. Any time anyone buys a condo, townhouse, semi-detached dwelling, single-family home or a luxury property they are putting their money into an investment in the future.
In Calgary and throughout Canada, there are several home architectural styles that are prevalent. The style of the individual home is likely influenced by the time period in which it was built as well as the neighborhood in which it resides. Home buyers should know that each home architectural style features a distinct floor plan and layout, which can influence their ultimate decision.
If you are seriously considering buying a property in Calgary you should get pre-qualified for a loan first. By doing so, you will be taken seriously by your real estate agent and home sellers. It shows that you have taken a step towards buying a house and you are committed to it.