Buying Tips

Tips about Buying Real Estate In Calgary

Found 98 blog entries about Buying Tips.

Debt-to-Income Ratio and Mortgage ApprovalWhen considering the possibility of financing a home, some may overlook a few important considerations for lenders. Those buying a home with cash have less need to be concerned about the debt carried when buying a home compared with other applying for a home mortgage loan. Though higher mortgage interest rates and high debt levels can make it difficult to qualify for conventional mortgage options. Learn more about the debt-to-income ratio and how it may impact the ability to buy a home.

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

Household Debt in Canada

According to a recent Angus Reid Institute survey, debt is the reason that 18 per cent of

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How to Save Money On Your Mortgage PayoffThere are a lot of people that are just happy making their mortgage payments every month knowing that their 25 year mortgage will be paid off some day. For others, it's a race to the finish line where getting the mortgage paid off as fast as possible is a priority. If you fall into the second category and can't wait for the day when you can finally set the mortgage papers burning, here are the 3 tips you need to know in order to make it happen.

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

Shop Around For The Best Mortgage Possible With Your Credit Score

When a mortgage company has a small overhead cost to stay in business it typically means that

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The Best Amortization Period For Your MortgageAccording to The Bank of Canada's recent financial review, the number of people choosing amortization periods longer than 25 years rose by 10% in 2014-2015. Almost half of all uninsured mortgages in this country are now amortized over 30 years which is in direct correlation to high prices. Having your loan spread out over such a long period of time certainly keeps the monthly payments down. It is also helping to keep the rate of delinquent mortgages down as well. However, because the debt is being paid back at such a slow rate, it leads to a higher overall level of indebtedness in Canadian households. Whether buyers choose to spread out payments or are forced to, the 30-year amortization is becoming pretty stand.

For informational purposes

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Is a Fixed Rate Mortgage or Variable Rate Mortgage Better?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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What to Know About Avoiding Mortgage DefaultThe market conditions have changed quite dramatically over the past twelve months. As a result, some homeowners may stumble upon financial hardships that make it difficult for them to pay their mortgage payments. Once your mortgage loan defaults, the chance of foreclosure increases.

If you or your spouse has lost employment and no longer make as much money, and you see meeting your mortgage payment obligations is going to be problematic, the first step is to take a deep breath. There are literally millions of people that face the same problem. You are not a bad person, so leave any feelings of guilt at the door. You do not have time for them. Instead, you need to focus on your options.

Try not to panic and instead act quickly to find

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The Best Amenities in Real EstateWhen it comes to your next home purchase, location is going to play a vital role in your decision. You know that you have certain amenities that you want to be close to and will be asking your real estate agent to find you the perfect home in the right part of town. When it comes to real estate, location is relative but there are 4 different wanted amenities that are common to most potential buyers.

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

Restaurants Shops And Services

People are willing to pay extra in order to live close to services, restaurants and shops that are only a walk away. Buyers are looking for a home where they can purchase a

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How to Avoid Real Estate ScamsIt'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.

Avoid Sending Money

You'll want to be sure that there's a legitimate person at the other end of the transaction. If you're ever asked to send money through the mail or via wire transfer, turn the other way and run. A legitimate transaction will take place either between the buyer/ renter and the seller/ landlord in person or through an accredited property management company or real estate agent. The best way to make sure your transaction

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What to Know About Conducting a Land SurveyLand surveys are prepared for residential homes and show you exactly where your home is sitting and any renovations and improvements that have been made to the exterior of the property. Some things that may show up on a survey report may include additional decks, pools, driveways and buildings that have been added. This is a legally binding document that can be called upon by the local municipality, mortgage company or the bank and its helpful when any real estate transfer is taking place.

There is no expiration date on a survey but it is a good idea to get one if you are involved in a real estate transaction. In some cases it will be required by the lending institution as part of the financial conditions for the home loan.

Are You Required

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Selling a Home Where a Murder or Suicide Has OccuredRecently, 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".

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

The Laws Regarding Stigmatized Properties

In the United States, there is a law in most states requiring sellers to make a full disclosure about a murder or a suicide that has occurred on the property within the last 3 years. In Canada, Québec is the only province in the country that has a

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Home Buying Red Flags All Buyers Must KnowBuying 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.

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

1. Everyone Is Moving Out

Some seasons are more popular for moving than others, so buyers may see multiple homes in the same neighborhood for sale.

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