There are plenty of misconceptions about home insurance in Canada, making it difficult to answer even some of the more simple questions about it. Because each homeowner is different, each policy will come with its own specific set of rules. For new home buyers who just want to do the right thing for themselves and their property, it's time to consider the facts of home insurance. Picking the right level of coverage starts with understanding the underlying principles.
For informational purposes only. Always consult with a financial advisor or insurance agent before proceeding with any real estate transaction.
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The policy and premium will depend on a few basic factors. Location, size of the home, and financial standing are all
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Many people who have never bought a home go into the home buying process knowing little about closing costs. Without a good grasp of what closing costs are and how much they cost, it's hard to prepare to buy a home. Closing costs are a big expense that many home buyers must budget for specifically. If you're thinking about buying a home in the coming year or two, here's what you need to know.
It’s extremely important for individuals seeking to make a real estate transaction to hire the assistance of a real estate agent, regardless of if they’re buying a new home or selling their current one. But where do buyers and sellers start when finding the agent who is right for them? There are a lot of different real estate agents who can do the job, but they aren’t all created equally. When selecting an agent to hire, buyers and sellers should be on the look out for certain red flags that can identify an inexperienced or unhelpful agent. Here are those red flags.
Buying a home is a time consuming process. Buyers who budget their time wisely and who plan in advance can have a less stressful experience when the time comes to buy a home.
Buying a home in a seller's market can be hard for new home buyers. Fierce competition can make it harder to get a property, which can lead to wasted time and missed opportunities. Entering the market with finances in order and a good sense of focus can help. Home buyers who have little experience with buying a home can follow these tips to make the process easier and more productive.
A 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.
Buyers 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.
Efforts 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.
As 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?
Most 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.