Found 18 blog entries tagged as budget.

Real estate negotiations can be a tricky process, but with the right approach and mindset, you can come out on top. The key to successful negotiations is to be prepared, confident, and flexible.

Do your research

Understand the market and the comparable sales in the area to determine a fair price for the property. Set a budget, and determine your must-have features. It's also essential to have a good understanding of the market conditions in the area where you're looking to buy or sell.

Be prepared

Have all necessary documents and information ready, such as your pre-approval letter and proof of funds. It's also important to consider all aspects of the deal, including closing costs, contingencies, and other terms. The necessary documentation…

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Buying your first home is a major life milestone and possibly one of the biggest decisions you’ll ever make, both from a financial and long-term commitment perspective. And while being ready for every possible outcome isn’t possible (not to mention unrealistic!) it is possible to prepare for potential pitfalls you may run into during the home buying process. From identifying and making the most out of saving opportunities, to explaining how working outside of your budget will cost you in the long run, here are some common pitfalls first-time buyers tend to experience, and how two REALTORS® recommend avoiding them. 

Image via: Photo by Green Chameleon on Unsplash

1. Attempting to manage without professional assistance 

For Regan O’Rourke, a…

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The kitchen is the heart of the home and a great place to invest. A kitchen renovation can bring more light, more space, and more style into your home, making it an ideal place for friends and family to gather. Kitchen renovations can be intimidating. It’s a big job and not one to take lightly. But if you're ready to make the leap, there are plenty of options available to help you upgrade your kitchen with minimal fuss and maximum impact. Let’s explore some of the best ways to get your kitchen renovation project off the ground and running in no time!



The first step for any kitchen renovation is planning. Start by making a list of what needs to be done, including minor updates like replacing outdated appliances or repainting cabinets, as well as…

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Purchasing a home can be confusing with all the different terms and requirements. Two steps involved in the mortgage process are pre-qualification and pre-approval. But what’s the difference between being pre-qualified and pre-approved?

Prospective homebuyers should consider getting pre-qualification at the onset of their home-buying process. It allows them to consider their budget and gain insight into their mortgage options.

Prospective homebuyers should consider getting pre-approval when they are more involved in the home-buying process, ideally within three months of the expected purchase date of their new home. It allows them to understand their financial position better and narrow their options.

Being Pre-Qualified

Getting…

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When you’re looking to buy a home—whether it’s your first, something larger, downsizing, or an investment property—you need to think about your needs versus your wants. This way, when you meet with a REALTOR®, they’ll be able to better assist you in finding a home that suits you and your budget.

While you may think you really want to splurge for hardwood floors throughout your new home, you may actually need to have an extra bedroom for when family comes to visit, so there are going to be compromises you must make. Taking the time to narrow down your needs and wants will help make the house-hunting process even smoother, as you’ll already know what things you can and can’t live without.  

How do you define a need vs. a want?

While many people…

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We’re all looking for ways to save money. A good first step to build your savings account is to lower your cost of living. Whether your savings goals include a down payment on a home, an emergency fund, you want to save for retirement, or you simply need more money each month to cover your expenses, these small but impactful saving tips can help you find money – potentially lots of money! – in the long run. Consider these tips to help you put money away and start saving!

How to save money in 5 simple steps

Start a carpool

Those who drive to work everyday end up spending thousands of dollars on gas each year. Starting a carpool is an easy way to spend less on gas every week. Not only are…

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Once you become a homeowner, you can forget about calling the landlord or superintendent if something breaks—you’re now responsible for maintenance and repairs. Let’s face it: there’s a plethora of tasks and projects to stay on top of to keep your home in top shape, everything from replacing the furnace filter and cleaning your gutters, to testing your smoke and carbon monoxide detectors and winterizing your lawn. You also have lots of important paperwork to keep track of, such as warranties and manuals for your household appliances and systems. The best way to stay organized is by creating a homeowner’s journal. Here’s how to get started so you don’t find yourself drowning in random reminder notes.

What is a homeowner’s journal? 

Simply…

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Outside of “are there enough of them” or “will they let in enough natural light,” windows aren’t typically top of mind for most people. Despite being an important detail that can help add to the value of your home, it’s typically not until problems such as physical damage, drafts, water leaks, or noise pollution appear that windows are considered.

Though it’s common in homes 20 years or older still fitted with their original windows, it goes without saying updating or completely replacing windows will be necessary at one stage or another. But how do you know when it’s time to change or upgrade your windows? How do you determine the type of window that best suits your home and their impact on your home’s energy-efficiency? Let’s find out!

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Renovating your home is a big decision and often an expensive one. After weeks or months of planning, saving money or acquiring financing, your dream home is finally within sight! Be warned, however, completing these renovations requires thorough research if you hope to stay on budget. Renovating is exciting and friends, family and neighbours will all offer advice and tips aplenty. You need to verify and evaluate all the ways you can save money on your next renovation. Read on for ways to save on your renovation and save yourself a bundle!

5 Savvy Ways to Save Money on Your Renovation

1. Make A Budget and Draw Up a Roadmap

Going over-budget when renovating is easier than you might think, making it the most significant threat to your…

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When housing markets begin to cool after record highs, some homebuyers get cold feet. Imagine you buy a home for $1.2 million. When it comes time to close after you have signed your purchase agreement, you notice a comparable home down the street sells for $855,000. What happens when a buyer backs out of a real estate deal?

Some homebuyers choose to walk away when it comes to closing day, despite agreeing to purchase the property. Another common scenario occurs when a homebuyer backs out after overbidding in a hot market and going over budget. Once it comes time to close, the bank completes an appraisal and refuses the entire mortgage amount. The homebuyers need to come up with hundreds of thousands of dollars to close. They walk away because they…

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