Real Estate Blog - home purchase

Should You Get a Home Inspection?

Should I get a home inspection? A careful mind always answers “yes” but under certain market conditions, some homebuyers may be tempted to bypass this critical step in the purchasing process. It could be a competitive seller’s market, or the immediate “feels” you get when you find a home that could be “the one.” From the moment you walked through the front door, you knew it had to be yours. The walk-in closet, open-concept plan and lush backyard are exactly what you’ve been dreaming of, and may be enough to overlook the leaking faucet in the bathroom and the strange smell wafting up from the basement.

Sometimes when viewing a home, it is easy to let staging get the best of us. We get so caught up in the pretty wrapping that we forget…

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What Is a Clean Offer?

What is a clean offer? This term actually has nothing to do with housework. Below, we answer some of important questions about what a clean offer is, how to go about presenting a clean offer, and the risks and benefits of making one.

What is a clean offer?

A clean offer is an offer to purchase a home without any conditions attached to it. Also called a contingency-free offer, a clean offer aims to entice the seller with the promise to buy a home without any caveat that might cause the deal to fall through, which can happen based on the conditions specified in the offer. Conditions, and reasons to renege, may relate to the buyer or seller, and may include conditions like an unsatisfactory home inspection, the buyer’s…

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A Look at Financial Help and Incentives for First-Time Homebuyers

Despite recent softening in the housing market, home ownership in Canada is expensive and can be intimidating if you’re a first-timer. Luckily, there’s financial help and incentives for first-time homebuyers, which can help offset the cost of purchasing a new home. You don’t need to feel as if you have to do it all alone – read below to see what incentives are available.

Incentives for First-Time Homebuyers

Home Buyers’ Plan (HBP)

The Home Buyers’ Plan (HBP) offers an alternative way of securing funds for a down payment for first-time homebuyers. If you have a Registered Retirement Savings Plan (RRSP), you may withdraw up to $35,000 from the account to buy or build a qualifying home for yourself or a related person…

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The First-Time Home Buyer Incentive – 2022 Edition

Over the last two years, a new trend has formed in many parts of the Canadian real estate market: investors accounting for a considerable portion of the broader housing sector.

Indeed, with many investors purchasing single-family homes, acquiring townhomes and scooping up condominium suites, a chance at home ownership has become a challenge for many first-time homebuyers. Moreover, in an environment with little supply, the competition for residential properties was exacerbated by individuals or corporations adding to their vast inventory of homes.

Public policymakers have tried to intervene, but industry experts maintain that the only real solution is to build more housing. Until then, it seems that the Bank of Canada’s…

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Real Estate Tips for Buyers from REALTORS®

Buying a home is no easy task. It’s likely the biggest investment you’ll ever make in your lifetime and there are so many things you need to take into consideration, like where you should live, how much you can afford to spend, and when the right time to move is. 

These are just some of the questions that buyers need answers to—and truthfully, just the tip of the iceberg when it comes to buying a home. With the help of a REALTOR®, you’ll be able to answer these questions for yourself and get a better sense of what the home buying journey looks like for you.

We asked a few REALTORS® for some of the advice they give to home buyers, whether it’s their first home or they’re downsizing, to help them feel more confident in the process. 

When is…

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Tips for Single Home Buyers

Buying a home is one of the most exciting times of your life, however, it can be extremely daunting for individuals looking to make the biggest purchase of your life. Buying a home as a single person can be intimidating, but we have some smart tips for single home buyers that will make the process much smoother.

With home prices across Canada rising at a fever pitch, entering the housing market as a solo act can carry more stress from a financial perspective than if you were going in with another person. However, each scenario has distinct advantages. For example, as a single you don’t have to consider another person’s needs and wants when it comes to finding your dream home. This means less compromising. If you work…

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Using Your RRSP to Maximize Your Down Payment

Saving a down payment for a house can be a daunting task. In this day and age, it can take years to save up enough money to afford a home, depending on various personal and economic factors. However, the Canadian government has created a Home Buyers’ Plan program, which allows first-time homebuyers to withdraw up to $35,000 from their Registered Retirement Savings Plan (RRSP) to increase their down payment. If you’re buying with someone who also qualifies for the program, that gives you up to $70,000 to put toward your home purchase.

Essentially, by using your RRSP, you are borrowing funds from yourself to purchase your home. Below, we will explain both how much of a down payment you require and how you can leverage your…

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Recipe for homebuying

Buying a home is a big undertaking, and all aspects should be carefully considered before looking to buy. Not only do you want to find your dream home, but you want to do it within a reasonable budget. In hopes of staying within that budget, you may decide to cut some corners by carefully analyzing the things you want over the things you need.

In making these decisions, you may decide to skip using a Buyer’s Agent. Is this a good decision? No. Here’s why:

• It’s free! The cost of using a Buyer’s Agent is covered by the seller out of the sale of their home. This means that choosing to use an agent will not only make your home buying journey much easier, but it won’t add a single penny to your budget.
• A Buyer’s Representation Agreement is what…

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Homebuyers – Be prepared!

Homebuying is a journey that starts well before buyers need an agent. Homebuyers can better prepare themselves. ????

Contact a RE/MAX Infinity Agent today to start your own home buying experience!

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