If you have a workshop and a job or hobbies performed outside during the winter, you may find it challenging to stay warm sometimes. A space heater working alone will not do much to keep you and your tools warm. Here are a few tips for heating your garage to a comfortable temperature in winter and keeping it there.

Add Insulation Where Possible

No matter how much power any of your heat sources have, it won’t be easy to maintain any warmth without proper insulation. Many garage walls consist of just the studs, covered on the outside with sheathing and siding. Fibreglass insulation will go a long way in allowing your garage to retain heat and is an easy enough project for most homeowners to do themselves.

Garage doors are another culprit for lost heat. Since they are often manufactured from thin metal, it is not unusual to find frost on the inside during winter. You can keep the cold outside by insulating the garage door and making your garage space an average of 5 to 6 degrees warmer without additional heating. Thanks to garage door insulation kits, it is very manageable for homeowners to insulate their garage doors themselves.

Eliminate Any Drafts

Investing in proper insulation will go a long way in keeping your garage warm in winter, but you should also seal any gaps that let cold drafts blow through. There are three very likely sources of drafts in your garage:

The garage door frame – Garage doors don’t fit tightly in their frames and have small gaps running all around the door. Integrated weather strips will help to close the gaps so that the cold air stays outside.

The bottom of the door – If your garage door is more than a couple of years old, replacing the seal or garage door threshold where the door meets the floor might be a good idea. It is designed to block drafts but can become brittle and crack over time and start to let cold air in.

Windows – Like in your house, windows can be a significant source of cold air in your home. Apply shrink-type film wrap to the inside of the windows, tape it to the frame, and then use a hair dryer to heat the film until it fits snugly, sealing out drafts.

Use One or Two Appropriately Sized Space Heaters

For those who only use their garage periodically throughout the winter, one or two portable space heaters (like the ones used to heat any cold rooms in your home) strategically placed in the garage will do the trick. Space heaters are readily available at any home improvement store, making them an easy solution for your garage heating, but make sure that they are adequately sized for the square footage of your garage.

Consider More Permanent Heating Options

There are plenty of heating options beyond space heaters if you know you will spend winters in the garage each year. A forced air system is among the most popular permanent heating options. They work by blasting hot air into the room; however, if you do work that regularly involves dust and debris, it will be blown around the garage. Ductless heating systems are gaining popularity for garage heating since they are efficient and cheap to run; plus, they often include cooling for when your garage gets hot and stuffy in the summer. A wall-mounted heater is a similar option that is typically easier to install than a ductless heating system, so you may not need to call in a professional.

Install In-Floor Heating

If you spend a lot of time on the floor in your garage, such as when working under a car, you might find the concrete floor rather frigid during the winter. A radiant floor heating system is a solution that is viable only for those who are building a new garage or planning to tear out and replace the concrete floor because it is installed before the concrete is poured. A radiant floor heating system is connected to the boiler, which circulates hot water through the pipes to radiate heat to the floor and any objects placed on it. Remember that in-floor heating is not a DIY project, and you will need to hire a professional experienced in installing radiant floor heating systems.

There are plenty of options to make your garage a comfortably warm space to work in winter. With a bit of ingenuity, you can be out in your workshop through the cold

Whether you’re looking at a condo in the city or a brick home in the suburbs, the search for your dream home is an exciting time. For many prospective buyers, the period between the decision to buy and the day you get the keys to your new home takes a back seat to your dreams of the exciting times ahead. As a buyer, you need to be informed and educated through every step of the process. It can be challenging to set aside your search for the perfect window treatments when your agent is asking you to sign a document you don’t understand: the Buyer Representation Agreement (BRA). To help you tackle this, we are going to give you the short and sweet explanation of what a Buyer Representation Agreement is, so you can get back to the decisions you’re excited about making!

What is a Buyer Representation Agreement?

This document is a written contract that defines the relationship between you and the brokerage, and how the agent will represent your best interests. It outlines the services your real estate agent provides and what they expect from you, including:

• The agent’s duties and obligations to the buyer
• Agency relationships
• The scope of the agent’s duties
• Buyer obligations

Homebuyers will sign a BRA when they’re working with a real estate agent and are ready to make an offer on a home.

What are the benefits and drawbacks of a BRA?

By signing a BRA, you enter into an agreement in which your real estate agent will represent you in the home buying process. Advantages include:

• Representation – A BRA ensures that your real estate agent works in your best interests and abides by the services listed in your contract. They can handle much of the home-buying process on your behalf, including negotiating, inspecting, and paperwork.
• Clarification – A BRA formalizes your professional relationship by clearly laying out what your real estate agent expects from you and what you can expect from them.
• Negotiable – Most of the terms in a BRA can be negotiated with your real estate agent.

Disadvantages of a BRA include:

• Locked term – By designating a real estate agent as your representative, your real estate agent will always receive a commission if you purchase property during the contract term.
• Exclusivity – With an exclusive BRA, you will not be able to use another real estate agent. If you are unhappy with your current agent, there are steps you can take to break your agreement and engage another agent.

How is a BRA presented?

While the agreement can be written, oral, or implied, it will ultimately be required by law to be reduced to writing with your signature in order to protect everyone involved.

When should you sign a BRA?

Like anything else you place your signature on, it’s important to fully discuss and understand the services provided, the cost related to the services, and that the written agreement is clear. Typically, a BRA is signed before you begin working with the real estate agent.

What will happen if you don’t sign?

According to the Code of Ethics, the broker and salesperson must protect and promote your best interest as their client on top of being fair, and honest. While you can choose to be a customer rather than a client, be aware that there could be some differences in how you are represented.

What is multiple representation?

Multiple representation means that a brokerage represents both the buyer and the seller of a property. There are no standard terms of service for multiple representation, so you need to consult the representation agreement before any offer is submitted. Multiple representation must be consented to in writing, so make sure you ask questions and are comfortable with how it may affect the services provided to you.

What is a holdover clause?

A holdover clause is an optional clause in your BRA. It means that once your BRA expires if you purchase a home after a certain number of days (usually 30 to 90 days) that came to your attention during the BRA, you must still go through the agent to purchase the home, and they will still receive a commission on the home purchase or lease.

For more information or clarification, feel free to get in touch with me at 905-878-7777 or Susana@homematterswithsusana.ca

As some of you may know, I have been publishing Family Matters Magazine, since 2013.  In the publication, I share stories of Milton families.  Families like yours and mine with journeys and lessons to share.  In addition to the cover family, sometimes, my Real Estate clients choose to share their story as well.  

The Leece family were one of my seller clients in Bronte Meadows in Milton.  It is an honour to have a platform like this, where they can share their story.  It is written by Nicole Leece, I hope you enjoy it..

 When I was just 8 years old, my family and I moved to the suburb of Milton. My

mother had heard about this little town from her uncle who lived there with his
family. He told her that was great for small families (like ours) and perfect for my
dad to make his commute to his relocated job in the GTA. Of course, at that time,
42 years ago, Milton wasn’t really considered part of that title(the GTA) because it
just was a small community of almost 30,000 people. Once my mom and dad
FINALLY came to Milton and found us a home, they loved it, and couldn’t wait to
start living in such a wonderful new place.
Growing up in Milton was simply perfect. Spring and summer time came with
excitement for me and my siblings as we could not wait to get our bikes out and
ride around the crescent with friends. Also, visits to our neighbourhood park in
Bronte Meadows, were so much fun for my mom to take us too as well. Then the
beautiful backdrop of the Niagara escarpment felt like pure bliss when autumn
would roll around, and there were the nearby apple orchards for my family to go
apple picking in the fall.
My mom and dad made friends quickly and they ended up meeting a lot of great
people around our street. Neighbours were made to always feel like family at our
house and my sister, brother and I made them honorary aunts, uncles, and
cousins. To this day, 42 years later, those same people remain as an extension of
my family.
Not only did my husband Tom and I have wonderful upbringings here, but we also
ended up meeting there too. In front of the same park, I frequented as a child,
was where I met him. Then, after dating for some time, he proposed to me ,
under the moon light in front of one of Milton’s favourite gathering spots in the
middle of town; the Mill Pond. Our wedding was at the Main Street church that is
St. Paul’s United. All of our sweetest memories together, would always include
our beloved Milton. When we had our son, we knew that raising him here, was
certainly no argument between with either of us. So in 2005, we bought our
home on Woodlawn Cres; the SAME street I moved to when I moved there when I
was 8! I knew it was the best decision we made for our little family, which then
grew by 1 more in 2011 with the arrival of our daughter.
Here are some of the places and memories listed that I will always remember
Milton for and that have left the best memories forever for me:

1. Milton Fair Grounds. Many times during my youth were spent at the
Milton Fall Fair; riding all the rides, eating all the sweet treats and then
taking in the Derby later on. Plus, the Strawberry fair to fundraise for the
hospital and the infamous Steam Era on Labour Day weekend.
2. St Paul's United Church. From childhood Sunday school to getting married
in 1998; St. Paul's has been a sweet and lovely community church that is a
majestic sight when travelling down Milton’s main street.
3. Kelso Conservation Area. From hiking, swimming, skiing and even the odd
guide camping trip; the Niagara Escarpment and Kelso it one of Milton’s
best all season playground.
4. Original Milton with the inner square roads: Thompson Rd-Derry Rd-Bronte
Rd-Steeles and back to Thompson. Everything in this square is the Milton I
grew up to know and love. All the shopping we ever needed was inside of
this square including the Milton Mall with Zellers, both arenas, the Go
Station and Main Street. The Santa Claus parades original route always
started on Bronte, went along Main then ultimately finished at the mall.
Those memories are one of the best ever around Christmas time for me.
5. Milton used to be a community that wherever you happen to go for
errands, you would always run into someone you knew. You would chat for
awhile then remember exactly why you went out in the first place.
However, stopping to catch your breath with an old friend in the grocery
store was just what your soul needed at that moment. Now, being one of
Canada’s fastest growing communities, it has grown a little too big to have
that small town feel anymore.
Milton has and will be the best little communities and we always love what it gave
to us ; our childhood, then dating to raising our 2 children here as well
Many big community changes in Milton over the years and living through COVID,
we then made the hard decision to move. We knew that working from home was
an option for Tom, so we were able to move somewhere outside of Milton, and
maybe even the province. That’s when we set our sites on New Brunswick, and
more specifically, Fredericton. We searched online on realtor for home in and
around Fredericton, and we came up with the home we ended up buying.

We had got a very good price for our home in Milton and that allowed us to buy a
home 3 times the size of our previous one for half the price. So much more bang
for your buck, you would say!
Yes, we left a community that we knew and loved for most our lives. We also left
family and friends behind too. However, our home journey was made for us, and
it is definitely not for the faint of heart for sure. We wanted an adventure and we
sure got one.
We now love being Maritimers, and it has allowed us a calmer and more peaceful
way of life and we wouldn’t change that for anything! However, Milton, Ontario
will always have our hearts and when we always come back to visit, our memories
will remain and remind us of how much of a wonderful place it was and had been
to grown up and live in for most of our lives.

www.familymattersmagazine.ca

for more community sponsors, contributors and resources

Moving is HARD!  

I know, because we just it and it was the single, most complicated , move we have ever made!

We had been living in Milton for almost 20 years and so comfortable there.  Sure, we wanted a bigger lot, more parking spaces and a pool but we were comfortable in our little bungalow in Bronte Meadows.  We had no intentions of making a move.  

Until..

My husband, Dan's landscape business, Groundhog Earthmatters Inc (Shameless Plug ) had been leasing space on Nipissing Road for years. The developer who bought the buildings where we were located, gave us six months to vacate so that they can start constructions on yet another condo build in Milton!  With lack of required zoning to run our business, we decided to make a move to Flamborough for more outdoor space and a shop to store our equipment, and park our trucks etc..

Moving almost a decade worth of stuff from the shop and office as well as moving our home, was way more work than we anticipated! Adjusting to the distance from our beloved Milton, has been even more difficult, but we are adjusting nonetheless.  I think for me, what has been the most difficult is the feeling of displacement.  Milton was not just where we lived.  It was a community where we raised our 3 children and birthed our three businesses. I couldn't walk into a grocery store without striking up a conversation with someone I knew.  I was immersed in that community and I felt at home there. 

I love our new home and I love every bit of the almost 4 acres that it sits on.  I love that the shop is steps from our door and my son and husband can work on their equipment ( and motorcycles) all while technically being at home.  I didn't get my pool but there is plenty of room to dream one up in the future.  However, I do feel out of sorts and out of touch.  Out of touch with community and no sens of belonging.   I know our ties in Milton are forever.  We both still run businesses there and have made life-long friendships there and well.. my beloved gym, Onyx Fitness is there and that is huge part of my life, but I still feel like I left home.  I know I will make ties here.  I know I will be ok, but for now, I feel like I am in limbo and yearning for that feeling of home, here in Flamborough.  

Life changes and sometimes it takes a little while to find your footing.  I will find mine.

Through Life's Changes, Home Matters

Preparing for higher rates

Given inflationary pressures, the Bank of Canada indicated in their last rate announcement that rate hikes could take place earlier than previously indicated, in mid-2022, which means variable rates that rise and fall in tandem with the key rate will start climbing. Views among economists vary as to how many hikes we'll see in 2022 and 2023 because no one really knows whether inflation is truly transitory given supply chain issues, or even if it won't be a long-term issue at all.

Keep in mind that even with the projected increases, we'll still be in an ultra-low-rate environment and an incredibly stable market. We've also seen increases before to only see them decrease again. But rates will likely rise, so here are answers to the questions I'm getting:

What is the impact on my current mortgage? With variable-rate mortgages, as rates rise so too will be the amount of interest you pay. While your payment often doesn't increase, you'll pay less principal and more interest. Fixed-rate mortgages – which are based on the bond market – have already been trending slightly upward, although if you have a fixed mortgage, you aren't affected until it's time to renew. Consider taking advantage of your prepayment privileges and increase your payment so at renewal, you are accustomed to paying the higher amount.

Should I refinance now? Many have already taken advantage of low Covid mortgage rates to refinance their current mortgage to get a lower rate, for debt consolidation, renovations, or to help a child buy a home. If you feel this is a good opportunity and want to access these low rates that won't be around too much longer, please get in touch for an analysis of whether it makes good financial sense.

Should I lock in my variable-rate mortgage? A key question to consider is: why pay more money than you have to? It will take several prime rate increases for variable rates to be on par with a fixed rate, and you are likely better off sticking with your original strategy of focusing on payment vs. rate. Preparing for higher rates is different than locking in. You can prepare by increasing your payment amount if your budget allows, so you are paying down more principal and building a buffer for later. 

But if it's going to keep you awake at night then let's talk about your conversion options. Remember though, you should be confident you'll stay in a 5-year fixed mortgage for the entire term. Breaking a fixed mortgage can result in some onerous penalties. If you aren't sure you'll stay in the mortgage for 5 years, the interest rate risk of a variable mortgage may be a better option than the penalty risk of breaking a fixed mortgage.

What if my mortgage is coming up for renewal? Don't feel rushed or pressured by a renewal letter or call. Let's discuss your options. We'll review your renewal offer together and I'll shop around to see if it's really the best deal available. Do you have too much other debt? This may be the time to roll it into a new mortgage to boost cash flow and save on interest costs.

Should I jump into the market now? The prospect of higher rates could cause a sense of urgency among homebuyers to get their mortgages before those increases take place. My advice is always the same: buy when you are financially ready. Don't jump the gun just because rates "may" go higher. But, if you're thinking about buying, I can arrange a pre-approval, so you're protected from rate increases for up to 120 days while you shop around.

Should we talk? Yes for sure. You should have confidence in your mortgage plan and that's why professional mortgage advice is so critical. I have access to a wide range of lenders and know the right questions to ask to assess your situation and make sure you have the best mortgage strategy for whatever is ahead.This valuable information is brought you by Kimberly Singh of Mortgage Intelligence

What's involved in giving your child a boost to homeownership?

With the financial demands of school loans, living expenses, and finding a career path, many young people struggle to purchase their first home. Often, parents and grandparents are very sympathetic. They've enjoyed the financial benefits of long-term homeownership themselves and see how hard it is today to make that important first step into the real estate market. And when you add in the run-up in home prices over the last 18 months, it's not a surprise that homebuying assistance using these two strategies is up dramatically:

You do want to put some careful thought into this before you help. Here are some things you may want to consider:

Your own financial situation. Your first responsibility is to your own financial security, so you need to consider what kind of help you can afford. Can you afford to gift the money, and if so, how much? Will you be okay to assume responsibility of the mortgage payments if you co-sign and the primary borrower defaults? Co-signing could also limit your ability to borrow and affect your credit score.

Family dynamics. Are there siblings or other family members to consider? Will there be an issue of fairness that you need to manage?

Homeownership is a big financial responsibility. You know there are more costs to homeownership than just paying the monthly mortgage payment, like heat, hydro, insurance, cable, taxes, and of course repairs and upkeep. Before you offer your child a boost to homeownership, consider whether they're ready for the financial responsibility.

If your child is married or living with a partner, consider property law. Should your child's marriage break up, you may discover that 50 percent of the money goes free and clear to your child's partner as part of a settlement of family property. If this is a concern to you, be sure to get in touch with a lawyer to discuss what protections you may be able to put in place before funding.
 

THIS INFORAMATION WAS BROUGHT TO YOU BY

KIMBERLY SINGH

MORTGAGE INTELLIGENCE INC

Mortgage Agent

289.242.6791

https://www.kimberlysingh.ca

I hope you are well and squeezing out the last drops of summer!  I know we are here at our place!

I wanted to reach out today with an ask.  I have recently been nominated by The Canadian Champion for the Reader's Choice Awards.  These nominations come from community members, which to me, means EVERYTHING!

I was nominated in the Realtor category.  I know how hard I have been working and things like this make it all worth while.

The next step in the process, is to get as many votes as possible so that I could come in as a winner!  So many of my amazing, hard owrking peers are also nominated, but if you scroll down, you will MY NAME and all you have to do is click VOTE!

CLICK HERE!

https://www.insidehalton.com/readerschoice-milton/categories/people-professionals/subcategories/real-estate-agent

Your help is very much appreciated! 

As always, if you need me (and not just Real Estate related) I am a phone call away!

Selling your Home During a Divorce

SPONSORED BY ABSOLUTE DISPUTE RESOLUTION

AUTHOR - MARIAN GRANDE, MEDIATOR

One of the biggest tasks you face when separating or divorcing is the equalization of your assets.  For most people, the matrimonial home is the largest asset they share with their spouse or partner.  To most people, the realization that they must sell their home is daunting and overwhelming, and trying to split this asset may cause even more uncertainty and confusion.

Luckily, there are some steps that you can take that will make the process as seemingly smooth as possible.

What will happen to the home?

Firstly, you and your spouse/partner must decide on what will happen to the home.  Do you sell it and split the proceeds?  Does one party remain in the house while the other party buys the other party out?  Who would stay and who would go?  Does the party who is going to stay qualify for financing on their own? 

Will the party be able to carry the other expenses of the home such as property taxes and utilities?  If one party decides to buy out the other or have their share of the home transferred to the other party, you will need to retain a real estate lawyer to handle the transfer.  Will the legal fees be shared, or will one party pay for these expenses?

If you cannot decide what to do or cannot agree on what to do, enlisting the assistance of an accredited mediator who is experienced in family law can greatly help you reach a resolution.

When should we sell our home?

Selling a home may take many months, depending on real estate market fluctuations.  You may also need time to bring the home into a good state of repair which may add time to getting the home sold.

If the parties cannot agree on a realtor, a mediator can assist you with this process.  The parties should advise the realtor that they are selling due to a separation/divorce, and they should ideally choose a neutral realtor, that neither party has had any previous association with.  Steer clear of family or friends who are realtors.  Your mediator or lawyer may be able to recommend a few realtors for you both to meet with.

The home would be appraised and sold at fair market value by a qualified realtor that you both agree on, all expenses should be paid out of the equity of the home equally between the parties, and the funds remaining would be split between the parties.  A real estate lawyer can assist you with this process.

Sometimes, it may be necessary for your real estate lawyer to hold the proceeds of the sale of your home in trust, until all other matters have been agreed upon through mediation or through a court process, at which time each party would be paid out their respective share.

What price should we list the home at?

This part is often the point of disagreement between the parties themselves or the parties and the realtor.  It is not always easy to agree on this point.

Maybe you’re buying a home for the first time. Or maybe you’re selling your old home to move to something new. Whether buying or selling, you’re involved in an intricate process requiring many specialists. One of these specialists might be a REALTOR®, who’s responsible for making the transaction as easy as possible for you.

The REALTOR® Difference

However, not every licensed or registered broker or salesperson is a REALTOR®. To be a REALTOR®, the agent must be a member of The Canadian Real Estate Association (CREA). And to be a member of CREA, an agent is expected to be:

• Committed to the REALTOR® Code: The code is the accepted standard of conduct for all real estate practitioners who are REALTORS®. It’s your guarantee of professional conduct and the quality service. Read more about the REALTOR® Code.

• Knowledgeable about developments in real estate: A REALTOR® can get you the information needed to make an informed decision: comparable prices, neighborhood trends, housing market conditions and more.

• Actively updating education: Through courses, workshops and other professional development, a REALTOR® maintains a high level of current knowledge about real estate.

• Access: REALTORS® have access to Board MLS® Systems, which facilitate the cooperate sale of properties to benefit consumers.

Benefits of a REALTOR®

Whether buying or selling a home, you can trust that your REALTOR® will ensure the transaction is completed competently and professionally. You don’t have to worry about the details – your REALTOR® can take care of them for you. You can get advice from someone with an intimate knowledge of the local housing market. And you can count on the help of a professional who has committed to serve with integrity and competence.

2020 is on its way out the door and although I am ready to kick the door shut behind it, there is a part of me that wants to say my proper goodbyes. Every year, at this time, I take some time to reflect on the year behind me. I take the time to count the blessings, forgive myself for mistakes, come to terms with regrets but most of all, I focus on the lessons. 2020 brought with it no shortage of lessons!

I have always said that the people I wake up to every morning are the ones that matters most. Never, have I been more right about anything. In March, when all we had was the people we wake up with, it was make it or break it! Every family has its unique dynamics. Ours is no exception. For the most part, our home is very peaceful and we co-exist and live in harmony, with a splash of yelling and witty comebacks.

Like most families, the first lockdown, could have gone either way. I was proud of how we managed. The boys stayed busy. I was thankful for our industrial space we use for my husband's landscape business. It was a blessing. The boys spent a ton of time there working on their motorcycles. Yes, I did say morocycles. My 23 year old got a motorcycle and his M licence. I love to ride on the back of my husband's, bike, but my son on a bike was not something I thought I could handle. The lesson he taught me was that he was sensible and a lot more cautious than I gave him credit for. He took the responsibility seriously and I am grateful. The motorcycle also helped carve out some father and son time, for which I am also grateful.

Our 18 year old suffered some losses. As a twelvth grader, she missed out on many milestones, one of them being prom night. The dress had been bought and there were big plans. I thought for sure, that it would break her. I was wrong. The lesson here was that she learned, that although prom sounded exciting, she quickly realized that her best friend was that one person that mattered most when all was said and done. So they dolled themselves up as though they were attending prom and they had my eldest shoot some gorgeous shots of them in their very expensive prom dresses. She will always have that. I learned that my daughter is far more resilinet than I give her credit for and that prom dresses in this day and age are VERY expensive!

My eldest celebrated a huge milestone. Her boyfriend and her had been saving and planning for a home purchase for a couple of years and this year they finally realized that goal. They purchased their first home and on their closing day, he proposed to her in the foyer of their new home. She said "yes"! I am incredibly proud of both of them. The lesson for me in all of this is still to come I think. She is offically moving into her home with her fiance this weekend. I will have to learn how to live without one of the people I wake up to every morning. It is a lesson that will be hard to learn. I will miss the extra dishes all over the island and the extra shoes sprawled all over the front entrance. I am sensing that the lesson will be, "Careful what you wish for when you wish for a clean house, a quiet house".

My Real Estate career brought a ton of lessons as well. I am grateful for an incredible year, the absolutely beautiful human beings God has brought to me as clients and the lessons and challenges that came along the way.

I look forward to more lessons in 2021. Whatever come my way, I accept it with an open heart and an open mind. I wish you and your family a peaceful year. I wish that when you wake up every morning, your home is filled with love and an abundane of good health.

Blessings to your Family Home from Ours

Susana Medeiros

How to Buy a Home in 10 Steps

1. Choose a real estate agent that’s right for you. A home is a huge investment, so work with a realtor that’s knowledgeable, professional and responsive. Treat your search for the right agent like a job interview. Meet with a few different agents, ask lots of questions and check references. Here is a list of 7 questions to ask an agent before you commit.

2. Know your budget. As you already know, buying a home is going to be expensive. Knowing exactly how much it will cost and how much you can spend is a crucial step in making a wise investment. Consider your lifestyle, your income and any current debts you’re carrying. Are you secure in your employment? Are you planning any major life changes in the near future, such as a job change or growing your family? Be mindful of the financial impacts this could have.

3. Explore mortgage options and get pre-approved. A mortgage pre-approval informs you of how much your lender is willing to lend you based on a number of factors, such as your credit rating, income and debts. The lender also guarantees the current interest rate for up to 120 days (time may vary depending on the lender), giving you the freedom to house hunt, knowing that you’re safe from interest rate increases. If rates drop, so too should your guaranteed rate. In addition to the interest rate, be sure to also take into account the terms of the mortgage. Here is a quick mortgage calculator that you can refer back to anytime.mortgage-calculator

4. Start home hunting. Admittedly, this step that has many sub-steps, but let’s narrow it down a bit. While the old adage of “location, location, location” still stands when it comes to good real estate investments, the recent trend of remote workplaces has given people greater flexibility when it comes to answering that all-important question of “where?” Then comes the what: what type of home do you need to accommodate how you and your family live? Condominiums, townhomes and freehold homes each offer distinct benefits, so ensure you’re choosing something that will work for you for the next rive years. Create a remax.ca account and register to receive listings that meet your criteria when they hit the market.

5. Schedule showings. Did you know your agent can show homes in-person or virtually? Virtual showings have been around for some time, often used for purchases by buyers from overseas, however it has picked-up speed with local buyers too, due to the Coronavirus pandemic. Regardless of how you choose to view the listings, keep your eyes on the prize. Remember your budget and the must-haves outlined in step #4 above.

6. Make an offer. You’ve found the home you want, in a location you like. Now, to make an offer to purchase for a price and terms that are agreeable to both you and the seller. Here’s where working with an experienced realtor can give you the upper hand. Different market conditions require a different approach – a seller’s market might mean lots of competition, requiring you to come in at or over asking price with few to no conditions, while a buyer’s market means you have choice and time is on your side. Lean on your agent on how to best handle the situation.

7. Get a home inspection. Regardless of the market, this is one condition that we recommend you keep as part of your offer. The home inspection is intended to identify any existing or potential underlying problems in a home, alerting the buyer of risks and giving them leverage in negotiating a reduced selling price. Your home inspector will examine systems that are visible without opening walls or floors, including heating, plumbing, electrical, roofing and foundation. The inspection should take approximately three hours and will cost a few hundred dollars, depending on the size of the home.

8. Close the deal. Depending on the agreed upon terms in the Agreement of Purchase and Sale, the closing period is typically 90 days, however is can range from a weeks to months. The homebuyer has some important obligations during this waiting period. Once the offer has been accepted, there’s typically a 10-day “cooling off” period, during which you take all the necessary steps with regard to financing, home inspection and everything else that needs to happen before you officially seal the deal. Your mortgage lender will need a copy of the offer to ensure it’s in-line with your pre-approved level of financing. After the 10 days have passed – with any adjustments or repairs made to your satisfaction – your Realtor will finalize the deal and your lawyer will process the paperwork, including the mortgage documents with your lender. All of this will point to a final date of actual legal possession: the real closing day.

9. Update utilities, transfer services and change-of-address. During your closing period, keep track of utility and credit card bills, magazine subscriptions and any other regular mail or standing orders that you receive at your current address. Alert them of the address change in advance of your closing date. Also be sure to contact your doctor and dentist. For family and friends, you can easily send a change of address card via mail or email, but there are a few more steps when it comes to informing government agencies.

• Click here to change your address with the Canada Revenue Agency

• Contact your local Ministry of Health and Ministry of Transportation to find out how to change your address on your health card and driver’s license.

• Forward mail to your new address by visiting the Canada Post website or at your local post office.

10. Move into your new home! If you’re moving during the busy season (typically summer) ensure you’ve booked a moving company well in advance. If you’re doing it yourself, book the truck, enlist some help and ensure you have ample packing materials. Here are some packing tips:

• Pack the items you will need first in a clear plastic bin

• Pack your plates vertically so they are less likely to break

• Take a photo of how you electronics are connected so you can know where the wires go

• Wrap your breakables in clothing to save on bubble wrap

• Keep your glassware safe by packing it with clean socks

SOURCE:https://blog.remax.ca/how-do-you-buy-a-home-10-essential-steps/

When it comes time to sell your home, you will likely be put in a situation where home updates, repairs, and upgrades are recommended in order to boost the value of your home for maximum returns! Now before tearing down a wall or throwing your money at everything it's important to understand not all home renovations are equal. Below you will find a list of the top 5 home renovations that have significant impact on your selling potential:

1. Improve energy efficiency

This one is often a surprise to people - when you think of home improvements, they are generally the physical changes you see with your eyes. The secret is that potential buyers are taking energy efficiency very seriously when making considerations on what to buy.  

Just to give an example, attic insulation projects return approximately 120% of their costs! Other energy-efficiency upgrades that are effective include updating HVAC, water heaters, and windows. If you do these changes early in the process (enough to get utility bills), your real estate agent can show potential buyers the difference between the monthly costs before and after the upgrades! 

2. Spruce up your curb appeal 

First impressions matter, and it starts the moment a potential buyer lays eyes on your home. These exterior improvements don't need to be radical either, there are many subtle touches that have huge impact. Some examples include power washing the home exterior, re-painting window frames and doors, and installing some potlights. If your property has abundant green space, you should consider landscaping services which beautify the lawn with mulch, shrubs, and planting seasonal colorful plants. If you have the means for it, adding new stone veneers, entry doors, and garage doors almost always recoup 100% of their cost.

3. Minor kitchen remodeling

The heart of the home; the kitchen. Buyers often report that the kitchen is their favourite room - and so it's easy to see how a gorgeous kitchen can entice even the most reserved buyers. In fact, if the kitchen is impressive enough, buyers may be more forgiving to other outdated spaces.

As the title suggests, I'm not recommending that you spend tens of thousands to improve the kitchen. I'm talking about the minor renovations that bring the most impact. Some examples include re-painting cabinets, installing new handles, installing stainless steel appliances, upgrading countertops, and putting up a new backsplash!

4. Bathroom remodeling

Next to the kitchen, buyers will zipline to bathrooms to develop their opinion of the home. Studies have shown that a minor bathroom remodel can provide a 102% return on investment - consider re-grouting tile and replacing the caulk around the shower, tub, and toilet. In some cases it may be best to replace the toilet - accomplshing both a modern look as well as energy efficiency (remember, energy-efficiency is a huge selling point).

5. A fresh coat of paint

A clean coat of paint is the facelift every seller can benefit from - we are talking 109% returns on investment here! New paint will lighten rooms and hide any defects. If your home has rooms with non-neutral paint colours, then painting over those spaces with neutral tones can have huge benefits! Ther buyer wants to enter the home and impose their personality within it, and areas with too much personality often work against your goal of selling effectively.