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FIRST-TIME BUYERS PLAN: 8 STEPS TO BUYING SMART

NAVIGATING THE WORLD OF CANADIAN HOME BUYING

STEP 1: FIGURE OUT HOW MUCH YOU CAN AFFORD.

Falling in love with a house you can’t afford can be heartbreaking. Avoid disappointment by figuring out your budget before you start looking.

First, decide how much you can afford for your down payment. The Home Buyers Plan lets you withdraw up to $25K per person (or up to $50K per couple) from your RRSPs – tax-free – to be repaid over 15 years. More on that here . The bigger your down payment, the less principal you will owe, and the less interest you will pay.
Don’t forget about closing costs, like insurance, legal fees, home inspection costs, land registration and land transfer fees. Add those to your moving expenses and service hookup fees, and they can add up surprisingly fast.
Your monthly housing expenses (mortgage, taxes, heat, etc.) shouldn’t use up more than 32% of your income. (If your combined monthly income is $5000, for example, 32% of that is $1600.) If you have car payments or credit card debt, the rule of thumb is that debt repayment shouldn’t be more than 40% of your income.
Get pre-approved for your mortgage. It’s a good way of finding out how much you can borrow – and it speeds up the process once you’ve found the home you want to buy.

STEP 2: FIGURE OUT WHAT TYPE OF HOME IS RIGHT FOR YOU.

Sit down and make a list of must-haves and nice-to-haves. Be realistic, but be clear about the features you can’t live without. How many bedrooms do you need? Bathrooms? Do you want a home office? A garage? How about a big backyard? Hardwood floors? Eat-in kitchen? Consider your lifestyle and your stage of life. If you’re planning kids in a year or two, the studio loft might not be your best bet.

STEP 3: DECIDE WHERE YOU WANT TO LIVE.

Living in an area you like is as important as buying a home you love. Do you want a busy urban lifestyle, a house in the ‘burbs, or a quiet place in the country? Do you want to walk to work or are you okay with a longer commute? Do you need to be close to good schools? Rec facilities? Shopping?

STEP 4: START LOOKING.

Go to open houses. Visit mls.ca. Check the classifieds. Drive around neighbourhoods you like looking for For Sale signs. Talk to your REALTOR® about your needs and start looking at properties.

STEP 5: BUILD A TEAM.

Put together the right group of experts to help you buy. Start with a REALTOR® you trust, then look for a reputable lender or mortgage broker, a lawyer (or a notary in Quebec), a home inspector and an insurance broker. Your REALTOR® works closely with all of these professionals, and will be happy to recommend people you can depend on.

STEP 6: MAKE AN OFFER.

You’ve found the perfect place – now it’s time to make an offer. An offer to purchase includes the purchase price you’re offering, chattels to be included in the purchase (like appliances or light fixtures), the amount of the deposit, the closing date and any other conditions.

Your REALTOR® will help you prepare your offer, and will present it to the vendor, who will either accept it or make a counter offer (which asks for a higher price or different terms). You can accept or reject the counter offer. If everyone agrees, the home is yours. If not, you can make another offer, or you may have to keep looking.

STEP 7: GET A MORTGAGE.

Once you’re approved, you’ll need to decide what type of mortgage works best for your needs. Will you go with a fixed or variable interest rate? Will your mortgage be closed or open? What will your amortization period be? Will you make payments monthly, biweekly or weekly? Your mortgage broker or lender can help you find a mortgage that suits your needs – and saves you the most money in the long term.

STEP 8: MOVE IN AND ENJOY!

Trademarks owned or controlled by The Canadian Real Estate Association. Used under licence.

December 17, 2017 + Uncategorized

Moving with Pets

by lkondratuk

Moving is tough enough on humans – imagine how overwhelming it would be if you didn’t understand what was going on. When you’re moving with pets, the boxes, the commotion and tension can add up to confused, stressed – even sick – animals. To keep your cat or dog (or iguana) calm and relatively happy during your move, all you need is a little planning – and maybe an extra treat or two.

STICK TO A ROUTINE

Stay consistent by keeping walks and feedings at the usual times.

PREPARE THEM

Let them wander around and smell boxes and suitcases so they understand that they’re safe.

TALK TO YOUR VET

Pick up your pet’s records, make sure all shots are up to date, and ask for a recommendation for a vet clinic in your new area.

UPDATE ID TAGS

Make sure tags have your new address and phone number on them in case Max or Boots decides to run away. And though this may seem obvious, make sure they’re actually wearing the tags when you move. Microchipping is a bit pricier, but if you can afford it, it’s the best way to ensure they’ll be returned to you if they get lost.

PICK UP A CAT LEASH

Your fluffy friend may not be impressed, but it’s an easy way to keep tabs on her in the car or on a plane.

GET A STURDY CARRIER

Leave the door open a few days before the move so your pet can get used to it. Make sure it isn’t too small; your cat or dog should be able to move around comfortably inside.

ON MOVING DAY, PUT THEM SOMEPLACE QUIET AND SAFE

You don’t want your pup to get underfoot or take off through an open door. If you can’t leave pets with a neighbour or in a kennel, make sure there’s a safe “pet room” (like a bathroom) in both your old place and your new one. A few days before the move, move their food, water, toys and litter box in there. Then, on moving day, put a sign on the door that says “Cat inside, do not open,” so movers and friends know to be careful.

DON’T GET A NEW PET RIGHT BEFORE A MOVE

Wait till you’re settled before adding a new member to your household.

BRING STUFF THAT’S FAMILIAR

In the new place, surround your buddy with toys, bedding and dishes that look and smell like home. Let cats explore on their own terms, and at their own pace; you may want to keep them in one room to start, and allow them into the rest of the place gradually. If you’re moving into a high-rise, don’t open the windows wide enough for an animal to squeeze through, and remember to keep kitty off the balcony.

CLEAN UP ACCIDENTS RIGHT AWAY

Get rid of odors fast so your pets won’t be tempted to use that spot again.

STAY IN A PET-FRIENDLY PLACES

If your move requires an overnight stay in a hotel, call ahead to find one that will let your pet stay in your room with you.

TIPS FOR CAR TRAVEL

Cats are generally not happy passengers, so keep them safe in a well-ventilated, securely positioned carrier. Don’t put animals in the trunk or in the open bed of a pickup, and never leave them alone in a parked car, especially when it’s hot out. Stop every couple of hours for a break.

TIPS FOR AIR TRAVEL

Whether your pet is flying in the cabin with you or as freight, try to get a direct, non-stop flight to minimize travel time and handling.

YOUR PET TRAVEL CHECKLIST

Make sure you’ve packed these animal must-haves:
• Veterinary records
• Recent photos
• Medications
• Food and water
• Bowls
• Can opener
• Reusable lids for canned food
• Leash
• Plastic bags and litter box
• Paper towels
• Favourite toys

TRAVELLING WITH A MORE “UNUSUAL” PET?

Fish are easy to move short distances. Just put them in plastic bags that are half-filled with water and half with air. Long distance moves are trickier, and you may want to contact an aquarium retailer to get advice. With hamsters, small reptiles and birds, keep them in their usual cages/enclosures when you travel. If you’re driving, keep the car at a warm, comfortable temperature all the time. If you’re flying, contact the airline to see what their guidelines are for transporting pets other than cats or dogs.

December 17, 2017 + Uncategorized

Decorating your Walls

by lkondratuk

Walls. Everybody’s got ‘em, but beyond slapping on a coat of paint, not everyone knows what to do with them. Walls are more than just room dividers – they’re a great big canvas that you can use to express yourself, have fun, and really add personality to your space.
Here are a few ideas to get you started:

Give old stuff a new life.
Whether your home is modern or traditional, using architectural salvage to decorate your place is a wonderful way to add interest. Think old tin ceiling tiles hung as a series in your hallway. Graceful beveled-glass windows or intricate ironwork floor grates above your couch. Or an antique door or wrought iron gate anchored against a large bare wall. Check out your local antique store or architectural salvage shop for great ideas.

Kid art: think beyond the fridge.
For a real “statement” piece, pick up a large stretched canvas at an art supply store and let your kid loose on it with colors that complement your décor. If you get tired of that painting, paint the whole canvas white (or blue or pink or ochre) and start again.

Use frames as art.
Wood or metal, antique or modern, ornate or simple, frames can be beautiful in themselves – no art required. Hang one or group several together for an elegant, architectural effect.

Think “off the wall.”
Wallpaper’s for walls, right? Well, yes, but it’s got other possibilities too. To create a quick piece of avant garde art, take a large piece of plywood (the bigger it is, the bigger the statement) and cover it with beautifully patterned paper. Hang it up – or lean it against the wall for a gallery look. (It’s a great way to cover up a damaged wall or anything else you want to hide.)

Chalkboards: not just for the classroom anymore.
Use chalkboard paint in kids’ rooms for an ongoing art project. (Mix in some magnetic paint, and the kids can use it to hang up paintings, photos and other stuff, too.) Don’t limit yourself to a traditional square or rectangle; apply the paint in a circle, in the shape of a tree, or using an outline of your child. And go beyond the kids’ room – try a chalkboard in your entryway as a reminder board, in your kitchen as an ongoing grocery list, or in your dining room for a charming bistro-style menu.

Stencil it.
Forget the kitschy stenciled borders you remember from the eighties. Create something striking by marking off a rectangle on your wall and stenciling an interesting shape randomly within it. Not into stencils? Simple painted blocks of colour can add drama to any space. Group blocks together symmetrically, or scatter them randomly around the room.

Create a vignette.
Display ledges are often used for photos, but you could also try pairing a photo with a favourite book, or a child’s drawing and a favourite photo of her with a small glass filled with crayons. Here’s a cute idea: Hang an empty frame around a small ledge, and use it to display a small vase with fresh flowers. Another idea: Hang an empty frame in your front hall, install hooks in it for keys, and call it “artful organization.”

Mirror, mirror.
Beautiful mirrors look great on any wall – grouping them has an interesting effect, too. Look for mirrors you like at garage sales, auctions and antique shops.

Use snapshots as art.
Take a cue from the design shows on TV: an inexpensive way to create striking, highly personal art is to play with photos you love. Scan or colour copy your favorites, crop them in interesting ways (half a face or part of a flower are okay), then blow them up to 11×14 or bigger, and have them matted and framed for an edgy, sophisticated look.

Go cheap and cheerful.
Hang anything you like: photos from calendars, postcards, letters, baby clothes, pieces of pretty fabric. Are you a book lover? Scan or colour copy the covers of your favorite novels and hang them in a literary grouping near the spot where you most like to read. Or if you’re into wine, display the labels from some memorable bottles.

The only limit to interesting walls is your imagination. Hope we’ve given you some good ideas to start with – now go forth and decorate!
Callout: “Walls are a great big canvas you can use to express yourself, have fun, and really add personality to your space.”

First Time Buyers