Real Estate Blog

Mortgage Tips and Facts for a Second HomeA primary mortgage and a secondary mortgage in Canada have a number of distinct differences that home buyers need to understand before consulting with a lender. Because second homes are seen as luxury goods, lenders and government officials can make it more difficult for buyers to get the interest rates they want. To complicate matters further, mortgage options are determined by the type of home a buyer chooses to buy: Type A or Type B.

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

Understanding Type A and Type B Homes

Both Type A and Type B homes need to have running water and be occupied at some point out of the year by the buyer. However, Type A

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Selling a Home? Prepare These DocumentsHome sellers need to gather important documents before listing a home for sale. Doing so can make it easier to sell a home and reduce the possibility of unnecessary hassles when a buyer wants to go into contract on a home. There may be differences depending on the province or area in Canada in which one resides, however the following documents are some that every homeowner would need to sell their home.

Learn more about required documents for selling a home in Canada today.

Start Collecting Home Selling Paperwork Early

There may be some differences for those who are not selling a single-family residence or who are choosing to sell a home without an agent. Partnering with a reputable local agent often is of great benefit for those thinking

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The Standard Clauses of Real Estate and How They Affect YouBuyers may hear the terms 'subject to clauses' thrown around a lot when searching for a home, but they may not know exactly how to use these conditions to their advantage. While it's impossible to foresee every situation, these stipulations are available to home buyers so they can get out of a contract if an unanticipated fiasco arises at the last minute. Buyers should learn more about how the main ones work, so they have every opportunity to safeguard themselves.

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

Financial Clauses

This clause essentially states that the buyer will need to obtain a satisfactory loan to move forward with the purchase. The

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How to Downsize a Home Without the StressEfforts to live a more minimalist way of life have become popular amid a more consumer-conscious society. What better time to embrace personal decluttering efforts than when selling a home and downsizing for a move to a new home? Here are a few stress-busting downsizing tips to streamline the moving experience while making a commitment towards a simpler lifestyle.

Digitize Documents, Media and Photos

One typically does not realize just how many CDs, videos, pictures and documents are accumulated over the years until packing for an impending move. While keeping hard copies of vital records is necessary, many of these other space-takers can be digitized and preserved eternally. Digitizing personal documents and photographs and uploading them to

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What to Know About Buying a New Construction HomeAs housing demand rising in different areas of Canada, new construction homes continue to be of interest to potential homeowners. In fact, an estimated 25 per cent of Canadian homes bought every year are new construction. There are many benefits of new construction, including higher standards of construction and improved energy efficiency. What should homeowners who are interested in new construction know?

Know When You May Need to Pay More

Many people appreciate buying a move-in ready home customized to their needs. However, this may come at a higher price than buying an existing property. Those willing to lay out extra can get the custom molding, luxe finishes and extra touches they want before moving in. However a potential homeowner

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What Mortgage Borrowers Need to Know About LMIMost potential homeowners need to obtain a home mortgage loan to purchase a home. There are many fees that come with purchasing and owning a home but one that may surprise some in LMI. When it comes time to calculate those mortgage payment, do not forget the monthly payment going toward LMI. Those making small down payments often have to account for LMI.

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

What Is LMI?

Lenders mortgage insurance (LMI) and applying for home loans often go hand-in-hand. Many mortgage lenders require an applicant get this type of insurance when they want a mortgage loan. Payments are made out to the lender or trustee. How

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What You Need to Know About Home WarrantiesWhen it comes to filing a claim for faulty workmanship or improper appliance installation, a homeowner might be surprised at what their warranty does and doesn't cover after they've purchased a home. This is partially because no one takes the time to read every clause and partially because a warranty in Ontario will not necessarily be the same as a warranty in Quebec. Homeowners should have a general idea of the underlying principles though, so they can get the most out of their warranties.

How It Works

The home warranty process is all about proof and circumstance. So even if it's clear that a construction worker busted a pipe during their time on the job, homeowners need to check to see if this particular event is covered under the warranty.

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Outdoor Living Space IdeasOutdoor living spaces are one of the many hot new trends in home construction. These unique, fun outdoor structures add value to the home and improve quality of life for members of the household. Homeowners who would like to install an outdoor living space in their backyard must decide which features will make their space most functional and enjoyable.

Shelter

Every outdoor living space needs overhead shelter of some kind. A good shelter will provide shade on hot afternoons, so members of the household can sit outside even when it's very warm. Some homeowners want to spend time outside even when it rains. For these homeowners, the shelter must also provide water protection. Shelter can take many forms. A pergola with a vine growing on it will

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How Can Homeowners Spot FoundationFoundation damage can be a serious problem. Homeowners who recognize the signs of foundation damage and who know what to do about it can help protect their home's value. These FAQs can answer many homeowner questions about foundation damage, the warning signs and what to do if the home has damage to its foundation.

What Causes Foundation Damage?

There are many things that can cause foundation damage. Soil settlement, presence of moisture and lack of moisture can all force foundations to shift, crack and become unstable. In addition, some new homes will experience foundation trouble as a result of freeze/thaw cycles that cause the ground to expand as it freezes. Noticing these conditions is one way Crystal Shores homeowners can quickly

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How to Get the Best Returns from Your Home Energy ProjectsMost homeowners want their home to be as efficient as possible, but it's not always clear what the best path is to get to that destination. After all, even the most energy-conscious individual isn't likely to spend $15,000 for solar panels if they're planning to move out in six months. To really understand how to get the most out of the energy projects a homeowner takes on, they need to learn more about the actual state of their home as well as the average returns for each project.

Insulating the Home

Homeowners who want to make their home more efficient typically can't go wrong with upgrading the insulation. This step isn't as simple as it sounds, but the effort is minimal compared to the nearly guaranteed returns of over 100%. Most experts

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