Fun in the sun

How to buy a vacation home without getting burned

While sunburn can ruin a holiday, getting burned on a vacation home purchase can sting for much longer. Fortunately, doing your homework will help you find your place in the sun without feeling the heat.

“The market has seen price drops lately, so a lot of people are finding vacation properties at $300,000 or below,” said Bill MacDougall, a real estate professional with Optimum Realty Group in Calgary.

(more…)

Read More

My first home

W. Brett Wilson
Courtesy Heather Fritz

W. Brett Wilson

Well-known Calgary entrepreneur and former Dragons’ Den investor panelist W. Brett Wilson vividly remembers the first home he bought in Calgary.

The joy and pride of first-time homeownership for his young family will always be embedded in his mind, as well as the work he put into the home.

However, that first home is also a reminder of the infamous National Energy Program, which sunk Alberta’s economy and caused plenty of financial pain for Albertans during the early 1980s.

(more…)

Read More

Crunching the numbers

How much home can you afford?

Shopping for the home of your dreams requires knowing how much you can afford to spend, which for most buyers ties directly into a mortgage.

Financial institutions in Canada look at a buyer’s Gross Debt Service (GDS) and Total Debt Service (TDS) ratios to help determine how much mortgage to approve, and therefore, how much home a person can afford.

(more…)

Read More

Real-estate rookies

Five tips for first-time homebuyers

The financing, the finagling, the legwork and the looking – buying your first home is one of the most exciting times of your life, but it can also be one of the most intimidating and stressful things you’ll ever do.

An experienced REALTOR® can help guide you through every step, negotiate on your behalf and streamline the entire purchase process.

(more…)

Read More