You’ve made up your mind to purchase a new home.

You have started looking at online listings to get a feel for the types of houses that are currently available. Before you give into those real estate temptations, there are a few crucial tips you need to bear in mind.

1. Know your Purchase Power
Before you even start looking at houses know how much your lender will pre-approve you for. Getting your heart set on a listing you can’t afford will taint your entire home buying journey. Keep in mind that there is usually negotiating room on a listing price, but try not to look at homes more than 10% above your pre-approved mortgage amount.

See our article on pre-approval/qualification

2. Decide what you are looking for
Know exactly what you are

Frequently Used Real Estate Terms

If you are new to real estate and hear terms and phrases that you are not quite sure on their meaning why not bookmark this page and get your real estate terms explained.

Acceleration Clause

The acceleration clause in a mortgage contract states that the entire balance of the debt is due and payable in full should the mortgagee default on the mortgage.

Acquisition Cost

The acquisition cost combines the purchase price with the estimated closing costs of the home.

Adjustable Rate Mortgage

An adjustable rate mortgage is also referred to as an ARM. This type of mortgage includes a lower initial rate of interest that changes after a predetermined time has passed and it is adjusted periodically. At that

Have you heard or been told things that you think "that doesn't seem right" in regards to Real Estate?

A home is likely the most expensive purchase you'll ever make. And the best way to protect yourself from costly mistakes is to go in with a solid understanding of all aspects of the home-buying process. Feel like you're swimming in misinformation?

Well lets look at a few of these "myths" and debunk them. Here is a list of the “Top Real Estate Myths.” There is no particular order. A typical consumer would not encounter all of these (and may not experience any of them) in a transaction. We could substitute many different “myths” for the list above. Some of these may surprise you, so there are general comments about each myth.

1. Experienced agents

The vast majority of successful real estate agents are true professionals who take the long view.

Their advice is in their clients' best interests. Some agents go further by being fully transparent when conflicts arise (which often do) and make certain they are fully disclosed to their clients.

Realtors live a conflicted life.

On the one hand, they are salespeople that only make money when their deal closes.

On the other hand, they are consultants. They advise buyers and sellers throughout the process, ideally giving clients advice that is disinterested from their own financial outcome.

Often, these two objectives are aligned and there is no issue. For example, a listing agent makes more money if he is able to sell a house for a higher

We know that getting ready to purchase a home can be confusing.

It is important to know the difference between a pre-qualification and a pre-approval, as one could lead you on, while the other nurtures your path to home ownership.

One of the primary steps of Buying a Home, is getting pre-approved for a mortgage. You should do this before the house hunt begins, so we (your Realtor) can show you houses that you can afford, to ensure we don’t waste any time or get your hopes up. There should be an open line of communication between your Realtor and your Mortgage Agent throughout the process, from determining the price range criteria, to putting forth an offer.

In the grand scope of things, a Pre-Qualification is a birds eye view of your ability to

With the average price of a detached home in cities such as Toronto now above the $1million mark, for many, condos have become the new starter home and possibly the domicile option for years to come.

First time home buyers are plagued with a whirlwind of decisions when looking for the perfect place to settle down. From locations to schools and public transportation, there’s one major consideration that will determine your type of lifestyle for the years to come, house or Condo. After coming to terms with the loads of money you’ll be borrowing, you’ll have to decide on whether you want to live in a condo vs house. But there are some major differences between house ownership and owning a condo. Here are some key factors to keep in mind.

Fees For All

Whatever you do with your life, and wherever you live, you have to sort out your finances.

Having enough money to live, to pay bills, to buy treats etc… is fundamental to being independent and being able to live a comfortable life.

Being able to maximise your money (whatever your income), and knowing how to get the most out of every penny is crucial because  it frees you up to concentrate on the important things in life.

Leaving money worries behind means knowing that you have things under control. You can free up valuable time and energy so that you can get on with actually living! With all this in mind I have put together a list of my Top 10 tips to get your finances organised – starting today. I hope they will get you started and move you

You just made an offer on the house you love and it has just been accepted!

Congratulations!!

But then the panic and feeling of being overwhelmed sets in.  It’s a time filled with many different emotions, a seemingly endless To Do List, critical due dates, and a multitude of important decisions to be made. Buying a house is a tough challenge, no matter how well qualified you are, or even if you’ve done it before, and it’s pretty normal to feel stressed out.

Especially when you already lead a busy life and now have what feels like another full time job to do!  But there are some things you can do to manage that overwhelmed feeling and get done what has to be done. It's your responsibility!

1. Rely on your Buyer Agent

It’s his or her job to

July 13, 2016

Canada’s residential real estate market posts strongest growth in five years in the second quarter of 2016

Central bankers expected to keep interest rates lower for longer in light of Brexit and global uncertainty

TORONTO, July 13, 2016 – Canada’s residential real estate market continued to show strong appreciation in the second quarter of 2016, posting the highest national year-over-year gain seen in five years, according to the Royal LePage House Price Survey[1] and Market Survey Forecast released today.  Amid continued world economic uncertainty, the historically low interest rate environment that has fueled Canada’s real estate market growth in recent years – most notably in Greater Vancouver and the Greater Toronto Area (GTA) –

New home builders make money by selling upgrades.

Usually, if you get all the builder upgrades, you can easily double the price of your home or more. This article will explain which upgrades are best to purchase from the builder and which can be done at a later date.

Lot
Upgrading your lot to a larger lot or a more preferred location is a great upgrade to purchase since you generally cannot change your home's location in the future.

Structure
Structural changes are also good to upgrade before the home is built. Adding an additional garage, an extra bathroom, or a covered back porch are usually more difficult and costly after the home is built.

Electrical and Plumbing
Electrical or plumbing additions or changes are good to upgrade before a home