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How to Not Pay Too Much for Your Home


Whether you are buying your first home, or your fifth, the process of buying a home is a detailed, time-consuming venture. At the same time, it’s an emotional period laden with difficult choices. You want to ensure that the home you purchase meets your family’s needs now, and in the future.

 

        

 

Each of these decisions often involves money. When you consider all that money represents, you’ll want to ensure that you don’t pay too much. This article helps you become a savvy buyer, by pointing out some of the pitfalls inherent in the home-buying process. These include such things as knowing what you want before you begin shopping, taking your time to shop, choosing the right professional, and remaining objective while viewing potential homes. With this information, you’ll be closer to finding your ideal home.

 

1. Before you shop, develop a needs vs. wants list
Everyone has a picture of an ideal home. This would include all the features you not only need, but have long desired. However, when it comes time to buying a home, the desires cost more. While it’s nice to think about having a beautifully landscaped backyard, or a solarium, perhaps even some built-in appliances, these are usually considered luxury items, which can add considerably to the price of your home.

That’s why it’s a good idea to develop a needs and wants lists. With this list, begin with items you really need like adequate space, garage and number of bedrooms. For most people, basic needs should be considered first. After that, you could consider additional desires, if you can manage these benefits financially.

With such a list in your hands, you’re less likely to be caught up in the excitement of the pursuit. You’ll have a good idea of what you want, within you price range, and if you can afford those additional items.

 

2. Get pre-approved prior to shopping
Visit your financial or lending institution prior to home buying. Quickly, you’ll know the amount of mortgage you’ll receive. Be sure to get a mortgage commitment in writing. Most importantly, you’ll tell sellers that you are a serious prospect. Depending upon market conditions, a seller may lean towards an unconditional offer. You’ll have less negotiating power if you have to wait for mortgage approval.

Banks and financial institutions have developed many programs especially for home buyers, be that first-time buyers or those with equity in their homes. When you review your needs and objectives with a lending officer, you’ll be one step closer to purchasing your home.


These are just 2 of the things to keep in mind when purchasing a home. Instantly have 20 additional tips to be aware ofCLICK HERE FOR THE REST OF THE REPORT

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Great Article today in the Calgary Herald!


First-time buyers fuelling housing market in Calgary

 

Low interest rates helping to push sales upward

 

CALGARY - First-time homebuyers have accounted for roughly half of home sales in recent years and continue to be a strong part of the Canadian housing market, according to a new report.

The report from the Altus Group said that on average first-time buyers purchase homes that are below the overall average selling price - about 10 per cent less for purchases between 2009-2013 in Calgary and for Canada on a whole.

It also found that the average price-to-income ratio in Calgary was 3.7 per cent, slightly higher than the Canadian ratio of 3.4, but lower than Vancouver at 4.7 and Toronto at 4.0.

“My team has definitely fielded more calls than ever for first-time homebuyers,” said Tanya Eklund, a Calgary realtor with RE/MAX Real Estate (Central). “I would equate this to the low vacancy for rentals and increased cost of renting due to low vacancy.

“First-time homebuyers also recognize the cost to borrow money is very reasonable so why pay someone else’s mortgage when you could pay your own. It is very frustrating for buyers when they cannot find quality places to rent for a reasonable price which has been the case. I suspect the trend will continue as long as interest rates stay low.”

The condo apartment market is one of the avenues first-time homebuyers seek to enter into the housing market. According to the Calgary Real Estate Board, year-to-date in the city until Aug. 17, there have been 3,192 MLS sales in the condo apartment market, which is up 21.28 per cent from the same period last year and the average sale price has jumped by 8.85 per cent to $325,178.

Mark Kolentsis, 28, and a first-time buyer purchased his two-bedroom condo in February and took possession on July 31. He had been looking since the fall but didn’t find much that would suit what he wanted. However, in the New Year he found the right condo - although others did too as seven offers were on the property.

“The price was right and interest rates are good,” said Kolentsis, an assistant superintendent at the Glencoe Golf and Country Club.

The Altus Group report estimates that there were about 300,000 first-time buyers in Canada per year on average in 2009-2013. About half of them were in the 25-34 year age group with the median age of 34. Single-person households accounted for about one in five first-time buyer sales.

“The extent to which these FTB levels prevail will be a function of the size of the population in the key first-time buying age groups, their willingness to purchase a home and their financial ability to do so,” said the report.

“Demographics alone are not a cause for concern about declining FTB activity in the short-term. According to Statistics Canada estimates, the size of the population in the key under 50 age groups is currently similar to what it was five years ago.”

It said current renters under 50 years still predominantly are either planning to buy a home someday, or would like to, but don’t feel they can afford it or that now is not the right time.

“Only about one in five renters under 50 years say they prefer the renter lifestyle or don’t want the responsibility of homeownership,” said the report, adding that there are about 2.4 million renter households under the age of 50 years in Canada.

 

mtoneguzzi@calgaryherald.com

Twitter.com/MTone123

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Lawrence Named Calgary Top Producer with Re/Max Landan!



It is with gratitude and many thanks I announce that I was once again named with the Top Producers with Re/Max Landan.  

Thank you everyone for your help - support- and referrals.  I appreciate your help.
 
                                       

  ~  Lawrence  ~



 


 




Lawrence Cuming
Re/Max Landan Real Estate


403-827-7823
www.calgarytopproducer.com


      


The Realtor Friends Recommend to Friends

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I have listed a new property at 126 CRANLEIGH TERR SE in CALGARY.
Amazing home - Spectacular location - perched high on the Ridge with unending views of the Rocky Mountains - River Valley and yes- the Bow River! This Dream Home has every bell and all the whistles! Very - very upgraded with hardwood flooring on the main - granite counters and stainless steel appliances. The main floor features 9' ceilings - custom woodwork - a private den - and an extra large mud room. Dramatic home - perfect for entertaining with a separate dining room and a wonderful great room with large view windows overlooking the valley. Upstairs has the perfect plan with a large bonus room - a separate library - three very generous bedrooms including an exquisite master en suite with double granite sinks- EXTRA large walk-in steam shower - tiled flooring and a very generous walk in closet. The lower walk-out basement is fully developed with a 4th bedroom - full bath - exercise room - and a wonderful family room with custom built-ins and a gas fireplace. This home is Priced To Perfection..
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Get cozy with your home decorating

(NC) – Cozy. The word is cute, comforting, and a bit quaint. It recalls country cottages, cats curled in front of the fire and silver-haired ladies sipping Earl Grey poured from a pot with a crocheted cover. It's an appealing image for those anticipating the cold months ahead – until we try to create a “cozy” retreat in a modern Canadian home.
 

“Cozy can quickly turn to dull, dated and even kitschy,” says Sally Morse, interior designer and director of creative services for Hunter Douglas, a leading window treatments manufacturer. “While we long for comfort, warmth and security, we don't want to sacrifice style, luxury or energy efficiency.”

 

Morse notes that Scandinavians manage to sail through the colder months and long nights, while maintaining their legendary style. With daylight at a premium during the winter months, Nordic homes rely on effective insulation, with window treatments that let in the limited daylight and help keep out the cold. It's a time shared with friends around a crackling fire and a candlelit table. Green winter arrangements, hot drinks and hearty dishes bring warmth and intimacy to their streamlined, modern interiors.

 

In fact, the word “cozy” has its roots in the Norwegian word “kose sig”: to make oneself comfortable. “Coziness also means intimacy, contentment and feeling fulfilled in your space,” says Morse. That space may be a modern suburban home, an urban loft, a restored Victorian or a city condo. Whatever one's refuge, her tips will help to create a feeling of well-being, comfort and luxury, as follows:

 

Start the Conversation. Arrange furniture in conversation areas that bring family and friends together. “Furniture pieces shouldn't be wallflowers,” Morse points out. Attractive area rugs add intimacy to the groupings and warmth to bare floors.

 

Make Fire a Focal Point. Real or electrified, nothing is more welcoming and warm than a roaring fire. Invest in attractive fireplace accessories, stack logs of birch or pine in an attractive box or basket, decorate the mantelpiece with large, dramatic candles and a winter wreath or branches. If you don't have a fireplace, invest in an electric one – it will pay dividends in atmosphere and energy savings.

 

Go for the Glow. Turn off ceiling lights and spotlights and let soft light glow from table lamps. Candles and tea lights placed in groups throughout a space cast a magical glow. Consider battery-operated candles. They even flicker and are perfect for placing in a window.

 

Window Dressings. “The right window treatments can bring warmth, ambience, texture and light, while making a very personal design statement,” says Morse. For example, new Solera Soft Shades from Hunter Douglas combine a soft, sculpted look withadded dimension and a unique cellular construction that increases energy efficiency at the window. Solera shades also come with the LiteRise cordless lifting system and have no exposed cords on the back for enhanced child safety.

 

Colour Me Cozy. Choose deep, soothing hues: dark greens, ruby red, warm shades of brown and taupe. Burnished accessories that reflect the light – bronze, copper, brass, and gold – will add to a feeling of comfort and peace.

 

Layers of Meaning. Layering with various textures and colours adds visual interest and a feeling of warmth. Studies suggest that decorating a room with varied textures makes the occupants feel three degrees warmer. “Be creative in layering colours and prints,” advises Morse. Try olive or mossy green, layered with a soft spa blue over it; dark gray paired with silver; deep brown layered with taupe and soft buttery hues. Accessorize with pillows, throws, quilts and blankets in subtle, coordinating prints.

 

A Soft Touch. Soft, supple fabrics are essential to creating a cozy retreat. A velvet sofa, a faux-fur throw, a silk-covered cushion, linens, mohair and cashmere areelegant and welcoming.

 

On the Scent. Signature fragrances for the home are a growing trend with “scent shops” offering an array of customized home fragrances. Create your own cozy scent with diffusers, sprays, scented oils, potpourri and candles. Buy these in complementary scents and “layer” them in different combinations. Start with a scent candle or diffuser in one scent and spray with another. The best scents in life are free and very cozy – cookies or bread baking, coffee brewing.

 

The Look of a Book. We love our Kindles but a collection of well-read books add charm and individuality. Stack them under a coffee table, by an armchair or on a shelf.

 

Get Personal. Family photos or mementoes from a vacation are other good choices. “Watercolour pictures on the wall,” says Morse, “from a Caribbean Island or Paris will remind us I've been there, I've experienced that.”

 

www.newscanada.com

 

 

For More information on Calgary Real Estate Contact Lawrence Today!

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