How To Buy Your First Home - Step 1: Get Your Finances In Order

How To Buy Your First Home - Step 1: Get Your Finances In Order

While it’s not the most fun stage of the process, before you begin house hunting it’s essential to get an accurate picture of what you can afford.

Get a copy of your credit report, learn to understand what your credit score means and how to improve it, calculate your debt service ratio.

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Condo Living: Things To Know Before You Buy

Condo Living: Things To Know Before You Buy

There are the obvious things you want to know before you buy a condo, such as the financial state of the condo corporation, what the condo fees are, and how many parking spaces are included with the unit. But then there are the less obvious things that you may not think of that come with condo living. I thought I would compile my list of things you should know before you buy a condo:

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Why Your Bank Account Should Be Nicely Padded When House Hunting

Why Your Bank Account Should Be Nicely Padded When House Hunting

So you find your dream home, submit an offer, and the offer is accepted that night. Now the clock starts ticking – you have 24 hours for your deposit cheque to be delivered to the listing brokerage.  (Typically the buyer's real estate agent will pick it up from the buyer and then deliver it to the listing agent's office on behalf of the buyer).

It's something I find that a lot of first time home buyers are unaware of or maybe forget about in the middle of all the excitement from buying their first home. 

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Home Buyers: Be Sure To Budget For Land Transfer Tax

Home Buyers: Be Sure To Budget For Land Transfer Tax

When you're house hunting, remember to budget for the Provincial Land Transfer Tax and if you're buying in Toronto you'll also need to budget for the Toronto Land Transfer Tax. Watch the video to find out how much and when you need to pay. 

Want to know how much Land Transfer Tax you would owe on a specific property? 

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Sellers: Practice Your P-p-p-poker Face

Sellers: Practice Your P-p-p-poker Face

When I am representing a buyer, if at all possible, I prefer to present their offer in person to the sellers and the listing agent. Good old fashioned face-to-face interaction. Gotta love it! With the majority of offers being sent by fax/e-mail these days and the two parties never meeting, I think it’s refreshing when we all actually get to meet in person.

It may sound like I am just being warm and fuzzy, and I am. But aside from that, there is a motive for my preference to present offers in person.

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Mortgage Rules Tightened in Canada – What Does This Mean For You?

Mortgage Rules Tightened in Canada – What Does This Mean For You?

This morning, The Bank of Canada announced new mortgage rules (which will take effect July 9, 2012) in an effort to control the climbing household debt levels and cool what many believe is an overheated real estate market. The Bank of Canada reportedly plans to keep interest rates low for the foreseeable future and the minimum down payment amount remains at 5%.

How Do These New Rules Impact You? 
How Will These Changes Impact The Real Estate Market As A Whole? 
What Should You Do?

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