Buying a home is a momentous occasion in anyone’s life. Thankfully, Canada Mortgage and Housing Corp. has some suggestions that can help you navigate the ins and outs of the home-buying process. (more…)
That is the question, but there is no easy answer that’s right for everyone
It’s an age-old question that still gets hotly debated, particularly by young adults who are determining where they are going to live: should I rent or should I buy?
It’s not an easy question to answer, and there are no clear right or wrong answers.
“One of the big things to contemplate is your time focus, because when you do buy a home, it is a long-term commitment. It does involve a five-year mortgage that’s amortized over 25 years,” said Tim Gensey, a market analyst with Canada Mortgage and Housing Corp. (CMHC) in Calgary. “On the other hand, renting allows you to be a lot more flexible. You have to really consider where you are in your life and what your needs are.
Former CREB® president Joyce Travis remembered moving beyond 9/11, adapting to circumstances
Four months after devastating terrorist attacks on Sept. 11, 2001, left thousands dead in the U.S., the pain was still palatable – even as far as Calgary.
“Everybody was just shell shocked,” said Travis, who, amid that atmosphere of uncertainty, took over as president of CREB®.
In Calgary, the attack led to hesitancy that was manifested, at least early on, by a sluggish housing market. Travis said consumers were reluctant to make major decisions, such as buying or selling a house.
What you should consider before listing your home
A smart seller knows that there is work to be done before listing a property. When you’re up against a buyer’s market, diligence is required in order to gain a competitive advantage. Curb appeal will translate value to potential buyers when they view your property.
Here are five things to consider before taking your property to market:
1. Take a look from the buyer’s perspective
Give the house and yard (all things within the scope of property) an honest aesthetic assessment. Within the first few moments of viewing a property, a buyer has formed either a negative or positive biased.
‘Don’t pay off someone else’s mortgage’
Many of us remember our parents telling us it is better to own a home than rent one at some point in time – “don’t pay off someone else’s mortgage,” they’d say.
They could not have been more correct.
So why are many people still choosing to rent when owning a property can be so financially rewarding? (more…)