First Time Homebuyers Government Incentive Programs

    Thinking of buying your first home? If so, it may be time to get on with it, especially considering the possibility that interest rates will rise. Using government incentive programs that encourage first time homebuyers to enter the real estate market, you can realize additional savings. And, mortgage financing has been almost free for some time, but economic signals point to those costs rising.   Mortgage rates may increase   Several factors are threatening to push Canadian mortgage ...

Why Listing In January or February Can Make Sense

  Although it may seem odd, listing in the winter months can be advantageous for sellers. Statistically, there are indeed more buyers in the spring market.  However, there are also more homes for sale, including properties similar to yours. With more competition for the pool of buyers, your chances of finalizing a deal may actually be reduced. Here are several reasons to list in January or February.   Financial Planning And Taxes   Many families check their finances at year ...

Congratulations to our Award Winners

At Royal LePage Team Realty helping YOU is what we do and we couldn’t do that without a dedicated network of real estate professionals.  We would like to take this opportunity to congratulate our 2015 Award winners and thank them for their hard work and dedication.  We are so proud to work with those who consistently go above and beyond to ensure their clients are provided with excellent real estate service. Looking forward to an awesome 2016! ...

Why Homeowners Should Beware of Icicles

  Ottawa’s freeze-thaw weather patterns often create sparkling icicles that look magical. But, they actually identify a dangerous — and potentially costly — hazard, an ice dam. Imagine coming home from work to find water streaming down your interior walls and soaking into the hardwood of your foyer. What would you do?   What Is An Ice Dam   After frantically tracing the flow, you would find that a pool of water had formed behind a thick ridge of ice ...

Don't tax my dream campaign succeeds

    The efforts of the Ontario Real Estate Association (OREA) and the Progressive Conservatives were recently rewarded when the provincial government decided they would NOT be expanding the municipal land transfer tax program.   Liberals keep election promise   In an unexpected announcement during the legislature’s question period, Municipal Affairs Minister Ted McMeekin ended concerns that the Liberals would break their election campaign promise and allow other cities and towns to introduce the tax. “There has been no call, ...

8 steps to getting started in property investment

  This propertyinvestment.com post from Nila Sweeney is an excellent primer for those who want to start a property portfolio. First, check your finances to see how much you can invest and get mortgage pre-approval.   Then, define what success means for you, as well as the level of risk you are comfortable with, and set your goals. Next, start budgeting and create a purchase plan.   Finally, research the market for opportunities that meet your criteria and approach them ...

An Economist’s Letter to Millennials Who Can’t (Yet) Buy a Home

This post from Jonathan Smoke, chief economist at realtor.com, explains what Millenials can do to help themselves along the path to home ownership.   For example, a high debt burden will restrict their ability to qualify for a mortgage, and the amount they can get, so they need to limit their total debt payments (student loans, credit cards, car loans, etc.) to less than 15% of their income.   Smoke also covers the importance of improving their credit score, saving as ...

5 Questions to Ask Before Replacing Your Roof

  Most of us have little or no experience with re-roofing, so this post by home reno expert Bob Vila is a valuable guide to the questions a homeowner should ask before hiring a roofer.  First, ask for an estimate that is comprehensive enough (permits, inspections, materials, labour, contingency) to establish a firm budget.  Discuss the proposal in detail with the contractor.   Find out what materials are being used and get the specifications in writing.  Avoid cheaper, low quality ...

The 3 Most Common Reasons a Home Inspection Kills a Deal

  In this Redfin.com post, home inspector Dylan Chalk underscores the importance of a home inspection by identifying how they can prevent a potential sale.  The most common reason is the home is not what it appears to be, especially in the case of a “flipped home”, one purchased and updated with the intention of making as much profit as possible.  The inspection reveals there are more repairs and updates than the buyer expected.  Problems with the core systems of ...

Reno Investments Providing the Highest Returns

This detailed Home Inspection Network post provides useful data to anyone who is considering a home renovation. Author Bev Siciliano begins by explaining what many do not realize – we might not fully recoup our investment when the home is sold.  For that reason alone, home renovations should be analyzed individually to ensure we get the highest return on investment (ROI). Generally, renovations that provide the best return on resale are superficial upgrades, like painting and decorating, with limited capital ...

What You Need to Do When Saying Goodbye to Your Home

  Although you’re excited about moving, there are easy ways to reduce the ache you feel when thinking about leaving the old abode.  According to this Realtor.com post by Lisa Davis you could throw a going away party with the neighbours who shared your journey over the years.  Toast your soon-to-be former residence. Leave a reminder of your presence for future generations like a signature on a rafter in the attic. To read more click here.This article was first published on ...

The Do’s and Dont’s of Basement Storage

  This article from Bob Vila gives eight handy tips to consider when using your basement for storage.   The suggestions include taking advantage of vertical space by building up and not out, using open shelves for frequently-used items and built-in cabinets to conceal toys or cleaning supplies, storing off-season gear in sealed bins to protect from moisture and dust, using a pulley-hoist to store heavy or bulky items from the ceiling, protecting tools stored in the open with a coating ...

Is It Time to Downsize? Ask Yourself These 4 Questions First

  If you’ve reached the time of life where you are contemplating downsizing your home, the first question to ask, according to this Realto.com post, is what kind of lifestyle do you want after downsizing? By defining how you want to live, you can narrow your search and focus on housing that will meet those requirements.   For example, if you want to escape the bluster of winter and relax on a beach, local climate conditions and geography will drive ...

What’s the best property type for your first home?

  Inexperience can cause first time home buyers to be confused by the multitude of available options. This post by Caroline James is an excellent introduction to the advantages and disadvantages of five popular property choices: a large detached house on a suburban block, a small home on a sub-divided lot, a townhouse, an apartment in a small block and an apartment in a high rise block. To read more click here.This article was first published on https://www.teamrealty.ca. ...

8 Mistakes That Could Screw Up Your Home Sale

  Usually we hear “buyer beware”, but real estate author Michael Corbett advises sellers to beware and gives 8 reasons why in this trulia.com post.  Always work with professional help, including a real estate agent.  Their expertise, experience, neighbourhood knowledge and resources will help you plot a course through the selling process.   Overpricing is a temptation to be avoided since most buyers are savvy and have the advice of an agent.  Ensure that you use high quality photos because ...

5 tips for eco-friendly renovations

  If you are renovating, you should consider the green strategies suggested in this realestate.com post by Danielle King.  For example, add insulation to the roof and external walls and you could save 25% on energy costs.  Replace inefficient windows or add window film since up to 40% of your heating can be lost through windows in winter.   Energy efficient appliances, LED lighting and solar panels will also contribute savings, while protecting the environment. Implement water collection techniques to ...

Canadian Home Prices Are Growing At One Of The Fastest Paces In The World

  The Canadian real estate market continues to boom, according to this Financial Post offering.  With a year-over-year increase of 8.2%, Canada ranked 4th of the 23 countries studied in Scotiabank’s report Global Real Estate Trends, behind Ireland (13.3%), Sweden (10.5%) and Australia (8.3%).  However, the report warns the trend could change if economic uncertainty and high unemployment counterbalance the attraction of low borrowing costs.  To read more click here.This article was first published on https://www.teamrealty.ca. ...

Here’s What Pushes People to Buy Homes in 2015

  If you want to sell your property quickly, at near the asking price, it is important to know why people are buying.  In this post, Realtor.com chief economist, Jonathan Smoke, suggests we pay attention to the five main triggers for home buyers: they have grown tired of their home and want a change, interest rates are exceptionally low, housing prices are favourable in many markets, they need or want more living space and they have the money to spend. ...

Unchecked Emotions Can Cause Costly Property Mistakes

  We are sometimes enthralled by the presentation of a property, but ignoring the things we cannot see or overlooking obvious problems and risks can lead to disastrous consequences. To the extent possible, put your emotions aside and make buying property a business decision based facts and data.   Getting Too Attached To A Property   Impulse decisions in real estate can cost major dollars and can have life altering effects. If you fall in love with a house, you may ...

The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care

  According to this realtor.com post, the number of real estate appraisers is dropping to the point where parties on both sides of real estate transactions could suffer. Since most residential mortgages need an appraisal before a sale closes, a shortage of appraisers will affect buyers, who rely on accurate valuations to structure their offer, and sellers, who can lose a deal if appraisals come in low.   The Appraisal Institute notes the number of appraisers has dropped 20% since 2007 ...

Boost Your Curb Appeal with 4 Doable DIY Projects

  Most sellers realize that preparing the interior of their homes for viewing is essential.  In this article, Bob Villa explains it is just as important to stage the exterior of your house as it is to prepare the inside rooms when you are selling.  For example, a clean, well-maintained yard will signal that you have taken care of the property during your time as owner.   Power washing the garage door, driveway and fences will add to that impression.  ...

5 must-do’s for first-time home buyers

  This homeownership.ca article by real estate lawyer Mark Weisleder gives the essentials for the novice buyer.  Start by calculating what you can afford (general rule is 30% of gross income).  Then, figure out what is important to you and search for properties with those features.  Ask the seller about flooding, leaks, mould, insurance claims and neighbourhood problems.  Pay for a thorough home inspection by a qualified inspector and buy an after-sale warranty.  To read more click here.This article was ...

5 Steps to a Safer Bathroom

  If you are planning to remodel your bathroom this Consumer Reports article give sound advice on how to do it with safety in mind.  Install pressure-balancing and anti-scald valves to provide a steady flow of water that remains at a safe temperature.  Add a sturdy, properly secured grab bar that will support 250 pounds.   Since mold and mildew thrive in a moist environment, ensure your vent fan exhausts to the outside and run it after every shower to ...

How to Reduce Your Energy Bill with No Cost or Sacrifice

  This excellent post from Adam Dachis on lifehacker.com tells how to lower your electricity bill easily, at no cost, by using your appliances more efficiently.  For example, promoting optimal air flow will lower energy costs by reducing the demand on your cooling/heating system.  Opening all vents in the house and replacing filters on a monthly basis will support ideal air flow, while standing or ceiling fans can be positioned to push hot air up and out (summer) or down ...

Inexpensive Ways to Make Your Home Green

  In this bhgrelife.com post, we learn just how easy it is to join the green movement and become an eco-warrior.  For example, by improving the energy efficiency around home, you reduce consumption, conserving the planet’s resources and saving money at the same time.  Installing a programmable thermostat lowers consumption and, surprisingly, a fully loaded dishwasher uses less energy than manual washing.   Changing furnace filters and cleaning dryer lint traps regularly will improve operating efficiency and reduce consumption.  Green ...

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Kenny D

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Royal LePage Team Realty


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