When it comes to selling your home, preparing it for potential buyers can be a daunting task. However, by following a few simple strategies, you can make your home more attractive and appealing to those who are in the market for a new place to live. Here are some tips for getting your home ready to sell: Declutter First and foremost, it’s important to declutter your home. This means removing any excess items that are taking up space and making the home feel cramped or cluttered. Go through each room and donate or sell items that you no longer need or use. This will not only make your home look neater and more spacious, but it will also make it easier for potential buyers to envision themselves living in the space. Stage Next, it’s important to stage your home. This means arranging furniture and decor in a way that showcases the home’s best features and makes it feel inviting and welcoming. Consider hiring a professional stager to help with this process, as they will have the expertise to make your home look its best. Clean Another important step in preparing your home to sell is to clean thoroughly. This means scrubbing floors, dusting surfaces, and making sure that every room is spotless. A clean home will not only look more appealing to potential buyers, but it will also help to eliminate any unpleasant odors that may be present.  I recommend hiring a professional for this step, as they'll often notice spots that need cleaning that may not be as obvious to the homeowner. Time Finally, it’s important to remember that selling a home can take time. While some homes may sell quickly, others may take several months or even longer. Be patient and keep your home in top condition during this time, as you never know when a potential buyer may come through the door. In summary, preparing your home to sell requires a combination of decluttering, staging, cleaning, and patience. By following these tips, you can make your home more appealing to potential buyers and increase your chances of a successful sale. So start preparing your home today and get ready to move on to your next adventure!

Setting out a budget is an important step when deciding to purchase a home, but there are several cash expenses that you may not think of that need to be taken into account when planning your budget. Here's a quick guide to help you calculate all of the upfront costs that you could incur when buying a home (for this example, let's assume the purchase price of the home is $1,000,000 and it is a BRAND NEW property).   Purchase Price of the Home: $1,000,000   Deposit: $50,000The deposit is typically 5% of the purchase price of the home and is to be paid upon acceptance (if there are no subjects) or within 24 hours of when the final subject is removed.   Let's say for example, you got an accepted offer on Monday with 4 days of subjects.  Your final subject would be removed on Thursday and your bank draft would be due on Friday. Down Payment: $ 150,000 In this scenario with a $50,000 deposit, the remainder would be $150,000 as a down payment, to be paid at the time of Completion (typically a day or two before the Possession Date). For any properties valued $1,000,000+, a min. 20% down payment is required. Properties valued between $500,000 - $1,000,000, a 10% down payment is required and any properties below $500,000 require a 5% down payment. Property Transfer Tax: $ 18,000 In B.C. The property transfer tax is calculated as follows: 1% on the 1st $200,000; 2% on the fair market value greater than $200,000 and up to $2,000,000 and 3% on any value over $2,000,000. Appraisal Fees: $ 300 - $ 450 +gst Before getting approved for a mortgage, your lender may require a property appraisal and will sometimes charge you for the appraisal, however sometimes they will cover the cost. Home Inspection Fees: $ 500 - $ 1200The cost of a home inspection will vary depending on the size of the property and the inspector you use. Some inspectors may charge additional fees for a laneway house, heritage homes, homes with a crawlspace or additional suite, as the inspection then becomes more complex. Legal Fees: $ 800 - $ 1,000 Cost varies based on each individual Lawyer or Notary. Moving Costs: $ 500 - $ 1,000If you decide to hire a moving truck, the moving costs will vary depending on the amount and complexity of the furniture that requires moving. Move-In Fee: $ 200 - $ 250If you are moving into a condo, the Strata will typically charge a move-in fee to book the elevator which can range in price depending on the strata property. GST: $ 50,000In this example, the property is brand new and therefore, will typically require the buyer to pay 5% GST. NOTE: GST is not applicable to a home that has been previously owned, unless the original buyer deferred the taxes. This is uncommon in the Greater Vancouver Area, but it does happen in some circumstances, so be sure to find out early on if the GST has been paid. Utility Hook Ups: $ 20.00 - $ 100.00This depends on what you require to be hooked up, as some condos have hot water, electricity and gas included in their strata fees and don't require you to have anything hooked up. It's a good idea to know ahead of time what will be required for you to have hooked-up so that you can include this into your budget. Adjustments: $ UndeterminedAdjustments are made at the time of Completion on the property and include any prepaid bills from the Seller such as property taxes, utility bills, and/or rent. The Buyer would reimburse the Seller for the portion they paid but will not use. ie. If the Seller paid the property tax for all of 2018 and the Buyer moved in March 31st, the Buyer would reimburse the Seller for the months of April - December Home Insurance: $ 50 - $ 200/monthMost lenders require the Buyer to have home insurance at the time of Completion. The price will be dependent on the size and age of your property. Fire & Liability Insurance: $ 20 - $ 100/month(Most lenders require the Buyer to have Fire & Liability insurance at the time of Completion. The price will be dependent on the assessed value of your property, the value of your personal items, and the cost of your living expenses).

Purchasing a home is often one of the largest financial investments of your life, which is why it's important to have a professional guide you through every step of the way to ensure you're making the right decision for your situation. There are several benefits to working with a Buyer's Agent when searching for your home.       1. REALTORS® have the ability to be notified the minute a listing hits the market that matches your criteria, which they can then revert back to their clients. This reduces the time you have to spend searching for homes.       2. Your Buying Agent can further reduce your time requirement in searching for a home by handling all the logistics of scheduling property tours.     3. Once you've narrowed in on a few properties you're interested in, your REALTOR® can put together a Comparative Market Analysis to show you what else has sold in the area to ensure that the property is listed at a fair price and that you're not going to be over-paying for that property.     4. When you're ready to make an offer, your agent can use their negotiation tactics to help you get the best value for your home.     5. REALTORS® often have a number of Professionals that they can quickly and easily refer you to such as Home Inspectors, Notaries, Lawyers, Mortgage Brokers and Contractors. Think of us as the 'Quarterbacks' of Real Estate with a large team of Pros to pass the ball off to.     6. Your Buying Agent can help you keep your home purchase timeline on track.     7. Although the final decision of which home you want to purchase lies in your hands, a REALTOR® can help you analyze the pros and cons of each home.     8. When writing an offer, not only will your REALTOR® write the contract for you, they will also provide you the information required to ensure you have the right subjects and/or clauses in your contract to ensure your protection in your home purchase.     9. If purchasing a condo or townhome, your REALTOR® will use their expertise to evaluate the strata documents to ensure there are no "red-flags" about the building or the financials of the strata.     10. If you're lucky, you'll get a good REALTOR® who will provide you with moral support. It can be a stressful process, and when you find a good REALTOR®, they'll make sure you feel comfortable and confident every step of the way.

Before I jump into what Mortgage Loan Insurance (also known as Mortgage Default Insurance) is and whether or not you'll need it when buying a home, first we need to understand what a Mortgage is.     What Is a Mortgage?     A mortgage is a loan that you use to buy a home. By signing a mortgage contract, you are agreeing to repay the loan, plus interest, within a specified period of time. Until that loan is paid off in full, your property continues to act as security for the lender in case you default on your payments. In other words, if you fail to make your payments as outlined in your contract, the lender can take possession of your home and eventually sell it.     This is where the lender is taking a risk. If the borrower (home buyer) defaults on the loan and the lender is then required to sell the home, the lender may be selling the property at a loss. That risk becomes greater for the lender the smaller the down payment is, therefore, the lender requires some type of security on high-risk loans (loans with down payments less than 20%), which is where Mortgage Loan Insurance comes in.     What Is CMHC*?     The Canada Housing and Mortgage Corporation (CMHC) is a Crown corporation that was originally established to help provide low-cost mortgages to World War II veterans by offering Mortgage Loan Insurance. Since that time, the CMHC has continued to provide security to lenders and housing opportunities to people who otherwise wouldn't be able to qualify for a mortgage.     *Although there are other Mortgage Loan Insurance providers (Genworth Financial Canada and Canada Guaranty), CMHC is the most commonly known.     Who Needs To Have Mortgage Insurance and How Do I Pay It?     By now, you're probably asking yourself, do I need to have Mortgage Insurance or not? In Canada, any down payment less than 20% of the value of the mortgage is required to have Mortgage Loan Insurance. It's also worth noting that any property with a purchase price of $1,000,000 + requires a 20% down payment and therefore Mortgage Loan Insurance is unavailable for any properties over $999,999.     The premium for Mortgage Loan Insurance ranges from 2.80% - 4% of the mortgage amount, depending on the amount of your down payment. Rather than paying that amount as a lump sum, the Mortgage Insurance is added on to your Mortgage and is paid out over the period of the loan.     For example;     Purchase Price of your home: $ 500,000.00   Down Payment: $ 25,000.00   Mortgage Amount (Purchase Price less Down Payment): $ 475,000.00   Mortgage Insurance (in this example we'll use 4% of $475,000): $ 19,000.00   Revised Mortgage Amount ($475,000 + $19,000): $ 494,000.00     If you're curious to know how much your Mortgage Loan Insurance cost will be, try out this calculator to help. (RateHub, 2018)           The views expressed are those of the author, Leslie McGuire, an Angell Hasman & Associates Realtor, and do not necessarily reflect those of Angell Hasman & Associates. It is provided as a general source of information only and should not be considered personal investment advice or a solicitation.

The initial thought of purchasing your first home can be exciting, nerve-racking and confusing all at once. There are many unknowns if you’ve never been through the purchasing process but once you know where to start, the process becomes much less intimidating. I’ve listed 4 steps leading up to purchasing a home that will help guide the way to a positive home-buying experience. 1. Get Pre-ApprovedThe minute the thought “maybe I should buy a home” enters your mind, go and speak with a Mortgage Broker. Bringing a professional into the equation early on will make the process much smoother for you going forward. The best part is, there’s little to no cost to you to get pre-approved. Here are the main reasons why you want to talk to a Mortgage Broker first: You May Have No Idea What You Can AffordTime is valuable, which is why you don't want to waste it searching through endless listings and touring open houses when you don't know what you can afford. By getting pre-approved early on, you will know right off the bat how much you'll be able to spend on a home, making your home search more efficient.It Limits ObstaclesBy getting pre-approved early on, the lender will be able to identify any obstacles you may have to get approved for a loan such as a bad credit score, too much debt, not enough years of income to show, etc. In identifying and addressing any obstacles you may encounter prior to finding your dream home, you increase your chances of successfully getting financing which leads to less stress when you're ready to make an offer on a home.It Makes You More AttractivePut yourself in the Seller’s shoes; How likely would you be to accept an offer if you didn't know whether the buyer could get financing to go through with the purchase? Probably not very. By being pre-approved, your offer will be looked at much more seriously than others who have not. In a multiple offer situation this can help leverage your position to come out on top. In addition to knowing how much home you can afford, be sure to go through all of the additional expenses that will be involved in purchasing a home. Here is a detailed guide of what expenses to expect.2. Find a RealtorOnce you know how much home you can afford, now would be a good time to start chatting with a REALTOR®. Buying property can be a complicated process, often with many variables to consdier.  So, once again bring in the professionals early on to avoid mistakes and inefficiencies. Read more about the benefits of working with a Buyer's Agent.So how do you pick a realtor? The amount of bus ads and flyers that come at you on a daily basis by agents can be overwhelming. It can be challenging to find the right REALTOR® for you. You may even have a REALTOR® or two in your family or among your circle of friends. Before reaching out to them ask yourself “am I just hiring this person out of convenience or do I feel like this is the best person for the job?”. We often go through 2 or 3 doctors, dentists, or hair stylists until we find one that we like so why wouldn’t you do the same for someone who will be helping you make one of the biggest investments of your life? Feel free to interview a few REALTORS® until you find one who you trust, you connect with and who you feel has your best interest at heart.3. Make a List of Must-Haves and Nice-To-HavesNow that you know how much home you can afford, it's time to start thinking about what you want your home to look like. Whether you're purchasing a home by yourself, with a partner, or perhaps as an investment you need to know what your "Must Haves" and "Nice-to-Haves" are (this step can be done on your own or with your REALTOR® in case you want their opinion). "Must haves" could include things like, "I need 3 bedrooms, I have to be within a certain school catchment for my children, the building needs to allow dogs, etc".  Anything that would affect your life in a meaningful way should be on this list.Alternatively, your "Nice-To-Have" list should include things that wouldn't largely affect your life negatively but, by having them, could make for a nicer lifestyle. Some examples could be things such as, "I want to be within walking distance of shops and restaurants, I want a concierge, and/or I want an open-concept kitchen with an island". All of those could potentially have a positive influence on your lifestyle but perhaps they won't be hindering you if they didn't exist. 4. Go Tour Properties!Now that you have your Criteria in place, it's time for the fun part...Touring Properties! Be sure to go over your "Must-Haves" and "Nice-to-Haves" thoroughly with your REALTOR®. Your real estate agent can then set up a search that will match your criteria and filter through the listings to narrow in on some properties for you to view together.