Real Estate Blog - homebuyers

The Difference Between Being Pre-Qualified and Pre-Approved

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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Factors to Consider When Deciding Where to Live

Whether you’re choosing to stay in the same city or relocate to a new province entirely, there are plenty of options available when looking to buy a new home, and it’s important not to box yourself in. Sure, you like the neighbourhood you live in right now, and it may be sad to leave, but there are plenty of other unique places across Canada to live, and it’s essential to consider all your options when deciding where to live.

Which is the Most Important Factor in Deciding Where to Live?

Before deciding where you want to live, it’s important to think about what you want out of a city and a home. Therefore, your decision where to live should be guided by your goals from homeownership. Before starting your house hunting…

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What You Legally Have to Disclose When Selling

You know about staging and pricing a listing properly to attract buyers, but sometimes there’s an out-of-sight, out-of-mind history that sellers may have to disclose. A  property might look perfect on the outside, but if there was a death on site, it was used for illegal activity, or even if it’s reported to be haunted, it can become what’s known as “stigmatized.” This label can make the property more difficult to sell and might even bring down its value.

Some potential buyers may not care about a home’s stigma, while others could perceive it as a red flag. However, depending where you live, sellers are not always obligated to disclose certain issues, leaving the onus on the buyer—with the help of their REALTOR®—to learn more.

We asked two real…

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Pros and Cons of Banks Versus Mortgage Brokers

When looking for a good mortgage rate, there are two main options: going directly through a bank or working with a mortgage broker. Each can be a good option, depending on your financial situation. So how do you decide which one to try? Let’s look at the difference between banks versus mortgage brokers, their pros and cons, and how to figure out which is best for you.

The Difference Between Banks Versus Mortgage Brokers

The big difference between a bank and a mortgage broker is that a mortgage broker can provide you with mortgage products from several different lenders, while a bank can only give you the mortgage option from their own company. Mortgage brokers have access to a variety of lenders and rates, which means…

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Explore the Neighbourhood Before You Buy

The quality of the surrounding community is a significant factor in determining whether you will be happy in your new home. While choosing a neighbourhood and forming an accurate impression of it is tough until you actually live there, preliminary research on the area can reduce the likelihood of suffering from buyer’s remorse down the road. So, how can you ensure that you’re well-informed? Here are five strategies for investigating a neighbourhood before you buy.

Choosing a Neighbourhood: Journey of Discovery

To determine whether the area is ideal for you, it is best to pay multiple visits. Listen for things like planes, trains and automobiles as you wander the neighbourhood. Living near places that frequently generate…

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6 Signs It’s Time to Buy a House

Many people dream of having their own house at some point. Owning a home is an excellent way to build financial security and equity. And while renting gives you the freedom to move when you want, the urge to own often rises to the surface. But how do you know when you’re ready? Here are six signs that it’s time to buy a house.

Your Rent is Increasing… Again

Both buying and renting have their drawbacks, but one of the great grievances with renting in recent years is rising rental prices. These make it difficult to have enough for monthly costs and save for the future. Unlike paying rent, owning a house builds equity, and the monthly costs are cheaper in many areas, even with extra expenses like property taxes and…

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Buying a Home? Narrow Down Your Needs and Wants List

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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How To Choose A Real Estate Agent

Buying a home is one of the most complex and important transactions that most of us will ever undertake. As a homebuyer, you get to choose who will represent you throughout the process. When choosing to work with a real estate agent, you expect a professional who has experience in both the market and your preferred neighbourhood, as well as in the type of housing you are looking for.

But not all real estate agents are created equal, so there are factors you must consider when searching for the right agent for you.

Agency Representation

Agency Representation (or fiduciary representation), simply means that the agent you hire is legally bound to represent your interests. When choosing…

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Selling Your Home in the Winter: How You Can Make the Most of It

From creating a warm, inviting space in your home, to clearing your driveway for potential viewers, to making sure any essential home renovation and repair is complete, we’ve compiled some ways to prepare your home in the winter and help maximize your selling potential. 

If you think selling your home in the winter is the same as selling your home in the summer, well, that’s a cold take. Each season has its distinct benefits when it comes to listing a home, so how can you take advantage of the snow and frigid temperatures?

We recently spoke with Amber van den Broek, a REALTOR® from Winnipeg, Manitoba and owner of Amber van den Broek & Associates, to speak about the  advantages of selling your home in the winter.

“There’s less competition on…

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8 Tips for Selling in a Buyer’s Market

In a buyer’s market, getting your property to stand out form the rest will take some creative know-how. A seller’s market occurs when real estate listings outnumber the number of potential purchasers. This means sellers will have to work a little harder to attract offers to their home. Here’s how you can help tip the scales in your favour, and hopefully get that sale contract signed!

Low Down

When the amount of real-estate inventory matches the number of buyers shopping the market, people tend to be pickier about the price they’re willing to pay. Really hone in on the listing price you’re comfortable with — if you want to sell quickly, consider listing it on the lower side.

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