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Tag: cottage security

  • Buying a Home in Retirement & What You Need to Know -   Retirement is a time in life that we all dream about. The day we can quit our job, celebrate with a big party and kick back and relax for years to come. The idea of retirement might make you think of spending your days cozied up with a few good books, long walks with ...
  • First-time home buyers – Does it make sense to buy a house now or wait? - If there is one thing we have all noticed lately it’s how crazy home prices are. If there is a second thing we have all noticed it’s how crazy rental rates are to rent a house or apartment as well. So the burning question of late is: Does it make sense to buy a house ...
  • Mortgage FAQs for First-Time Home Buyers - When you buy your first house, you have so many mixed emotions roll through you. From the excitement of buying a home of your very own, to a fear of buying the wrong house, to simply being overwhelmed by the whole process overall. It’s no small decision, buying your first home. That’s why I like ...
  • How much of a down payment do you need? - You’re ready to buy a house. You’ve lowered your debt, you’ve been saving for a down payment for a while, and you’re finally ready to take the next step in buying your first home. When buying a house, the down payment is one of the biggest upfront expenses you will have to pay. The more ...
  • A Quick Guide To Different Types of Mortgages in Canada - Getting approved for a mortgage is an exciting time. While it can be hard work, buying a house is one of the most rewarding experiences people go through in their life. Not only do you have a place to call your very own, but you are also investing your money into your future. However, there ...
  • What you should know before purchasing an investment property - There are so many great benefits of owning an investment property. Real estate is an excellent avenue to invest your money, receive a passive income, take advantage of income property tax reductions, and so much more. If you’re considering buying an investment property, now is a great time to do so. However, there is a ...
  • Beyond a Mortgage, what are the costs involved with buying a house? - You’ve decided to buy a house – congratulations! You’ve met with a fantastic mortgage agent or mortgage broker (like me), got approved for a mortgage, and have had your offer approved for the house of your dreams. But if this is your first time buying a house, have you considered what expenses come next? Buying ...
  • Buying your first home 101 - Thinking about buying your own place? Buying a house is one of the most rewarding and exciting experiences a person can go through. It can also be pretty overwhelming, particularly if you’re a first-time homebuyer looking to secure your first mortgage. Buying real estate is also one of the biggest financial decisions you will probably ...
  • Why get pre-approved for a mortgage? - Many people believe that their first step in buying a home is contacting a realtor to start house hunting. What you’ve heard, is untrue. Buying a house doesn’t start in an open house or with a search on MLS, it starts in a mortgage broker’s office. Why? Well, before you start shopping for a house, ...
  • First-time home buyers – Should you buy a house now or wait? - It’s no secret that the Canadian housing market is extremely hot right now. Particularly in Ontario, houses are selling at record-high prices. Since the beginning of the global pandemic in March 2020, housing market prices started to increase and are still on the rise in 2021. According to the Toronto Regional Real Estate Board, the ...
  • Spring 2021 & The Real Estate Market - 2020 was easily one of the hottest years in the Ontario real estate market to date. There was a huge demand for residential real estate, and it’s a trend we have continued to see throughout the beginning of 2021. There are tons of buyers out there, like yourself, but not quite enough supply for the ...
  • Recently divorced? Here’s how to get approved for a mortgage. - Going through a divorce or separation is not an easy process. It’s an emotional, heartbreaking experience that no one can prepare you for. Leaving your partner is not an easy choice to make, and it can drastically change your life in both positive and negative ways. One of the biggest setbacks, in particular, is the ...
  • Getting approved for a mortgage if you’re self-employed. - You’re thinking about buying a house, that’s great! Buying your first home is an exciting financial venture to take on. One of the first steps you will take on that journey is finding out how much of a mortgage you can get approved for. But, as someone self-employed, there are a few extra steps you ...
  • 5 Tips To Success When Buying a Condo in Barrie - There are many advantages to living in Barrie. Tons of activities to do, beautiful sights to see, and not to mention the top-notch health facilities and highly rated schools in the area as well. Yes, living next to Lake Simcoe is amazing, but do you know what would make it even better? Living in a ...
  • Taking the leap from renting to owning a house - To rent, or not to rent? That is the question – whether to continue renting or to buy a house and take on a mortgage. There’s a common misconception that renters are throwing their money away, and another that you need to buy a house as soon as you can afford a down payment for ...
  • The Pros & Cons of Buying a Home with a Group of People - When it comes to buying a home in Canada, it is getting more and more difficult to do on your own. As property values continue to climb in different areas, it’s also becoming increasingly more hopeless to find a place on your own. That is why you may be considering buying a home with a ...
  • How to reach your down payment goals - You’re thinking of buying a house, that’s fantastic! Buying a house is a rewarding experience but requires a lot of planning and thinking ahead. More specifically, you need to think about your future financially if you choose to buy a house. What is your current financial situation like? Are you in a good enough place ...
  • 5 things to think about before upgrading to a larger home - There’s a lot to think about when buying a new home. Whether you’re still living in the first home you bought or you’re an investment property pro, each house you buy is a major investment that needs to be thought through very carefully. Particularly when you’re about to purchase a larger property, there are going ...
  • First Time Homebuyers 101: Your checklist to take care of before the house-hunt - So, you have decided to buy your first home – congratulations! Buying your first home is an exciting and rewarding experience. There is a lot to look forward to when it comes to shopping for your first home such as checking out different neighbourhoods and browsing houses online, looking at what’s available. However, there are ...
  • 5 Tips to Improve Your Credit Score - Your credit score can make or break your real estate dreams as a first time home buyer. Especially with the stress test looming overhead while you’re scrambling to get your savings together for a down payment. Mortgage lenders always will review your credit score before pre-approving you for a mortgage for a few reasons. So ...
  • What happens when you buy a house without a pre-approval - It’s exciting, house hunting for the place you will call home. Especially if it’s your first home buying experience. You look through all the listings online, you make your wish list, you go out and see them in person — or virtually! Then it happens…you fall in love with a home and you are set ...
  • 5 things I wish I had known as a first time home buyer - When I look back at the time I purchased my first home, I was far from an expert and I only knew the bare basics of mortgages and what I was getting into. Making the transition from renting an apartment, condo or house to buying your first home is a big leap, though a rewarding ...
  • 5 Thoughts to Ponder Before Buying a Condo in Barrie - There are many reasons why you should choose to live in Barrie. The affordable living costs, the amazing balance between urban and rural living, and the lively downtown core. With a Barrie condo, however, you get to experience all of that with the bonus of a killer view and an easy, and a “less-maintenance” lifestyle ...
  • Are You Ready for Home Ownership? - Congratulations! You’re ready to graduate from renting to owning your very own home. However, have you carefully thought about the lifestyle and financial changes that come with becoming a homeowner? Without careful preparation and research, taking the jump from renting to owning a house can come at quite a shock for some people. To help ...
  • What is Home Equity? - There are several reasons people consider taking out home equity loans. Perhaps you’re thinking about doing some home renovations. Maybe you’re paying off other large financial debts such as college tuitions, car loans or credit card bills. For some, it may be because you’re paying off a large emergency expense or with longer lasting retirements ...
  • TFSA – What Is It & How Does It Work - Want to start investing and you’re not sure where to start? You’ve come to the right place. In Canada, lots of millennials are saving – in fact, roughly 80% of the generation has savings. But are they really using their money to it’s fullest potential? According to a survey conducted by the Ontario Securities Commission, ...
  • Financial Planning of RRSPs, and Why You Should Care - There’s an acronym that keeps popping up recently: RRSP. Unsure of what an RRSP is and how they can help you when buying your first home? Well, you’ve come to the right place. Here’s a quick crash course on RRSPs and how they can make a huge impact on your financial planning strategy. What is ...
  • A Year in Review – Mortgage Highlights From 2019 - Wow, 2019 sure flew by, as did the entire decade! With the excitement of a brand new year upon us, let’s have a look back at 2019 and unpack some of the key issues that impacted the mortgage world and home ownership in Canada. The mortgage stress test The much-debated mortgage stress test has been ...
  • What’s Trending: Is Buying a Home with Friends or Family for You? - Today’s sky-high housing prices in many areas mean that young people and families are being priced out of home ownership. With record-high rents and limited affordable housing options in some cities, a new trend that is growing in popularity is that of buying a home with other people such as friends, family and coworkers. This ...
  • Going for It: How to Reach Your Down Payment Goals -   If you’re tired of renting or want to move into your very own space, it’s a great time to think about buying a home. Not only are there a lot of affordable options to choose from in Barrie and Simcoe County to meet your specific needs, but there are great mortgage interest rates right ...
  • Fall & Winter House-Hunting: Tips for Savvy Buyers - Didn’t get to house hunt during the peak spring and summer months? Maybe you weren’t financially ready or didn’t have the time…but that might not be a bad thing! While the weather may be better for touring homes and it’s easier for families to move during the summer, you may find some big advantages to ...
  • 5 Reasons Why You Should Work with a Mortgage Broker -   Want excellent customer service, access to the best mortgage rates and peace of mind knowing you’re in good hands? Then you need to work with a mortgage broker when it’s time to buy your next property, renew your mortgage or take out a home equity loan! It’s an old misconception that a mortgage broker ...
  • What You Need to Know Before Buying an Investment Property - Buying an investment property can be a great long-term investment, with the added bonus of enjoying the income from regular rental payments. It also a great opportunity for first-time buyers to break into the housing market, as they can rent it out (or a portion of it) until they’re ready to take it over or ...
  • Digging Deeper – Knowing Your Down Payment Options - Are you excited about the prospect of buying your first home, but just can’t figure out how to get that down payment nailed down? It’s not easy to save up for something as monumental as a down payment, especially when homes are priced so high in many areas. However, having a strategy in place for ...
  • Rejected by Your Bank? Mortgage Options You Need to Know - Home ownership is a personal and financial goal for many people, but sometimes it can feel out of reach, especially if you’ve been dealt a rejected mortgage application by your bank. While you may think this rejection is the end of the road for you, there are steps you can take to move forward in ...
  • Want a Custom Home Build? Here’s How to Finance it: - Have you always dreamed of building your own custom home or cottage exactly the way you want it? You’re not alone! Perhaps you’ve found the perfect plot of land or you’re on the hunt for something super unique…all you need now is the financing. Don’t despair – there is a mortgage you can get for ...
  • Home Purchase Professionals You Need for Your Winning Team - It wasn’t that long ago that our Toronto Raptors brought home that long-awaited NBA Championship, and while Kawhi Leonard was undoubtedly a superstar MVP, it was the work of the entire team that earned them their success. The same is true when purchasing a property; you need a solid team of professionals to ensure a ...
  • Safe & Sound – Security Tips for Your Cottage - I’ve talked a bit about vacation, cottage and other recreational property purchases recently, so it only seems natural to explore the importance of how to protect your big investment and help to keep it safe and sound, all year round. A cottage or chalet is meant to be your time to relax and escape the ...
  • Top 5 Tips for Buying an Investment Property - The lure of owning an investment property is quite appealing, and for good reason. Real estate values keep going up, and the demand for rental properties is high – especially here in our region. Having an investment property can mean you have a steady income from the rental unit(s), as well as a nest-egg to ...
  • The “Ins & Outs” of Those Tricky Cottage Expenses - In an earlier blog post, I explored the importance of financial readiness when thinking about buying a cottage or recreation property. As most Canadians know, a cottage is so much more than a relaxing oasis or fun family getaway – it’s a truly magical place. However, it also carries with it financial and maintenance obligations ...
  • Are You Ready to Dive In & Buy That Cottage or Vacation Home? - With interest rates low and the current economy feeling pretty stable, many people are turning their thoughts to owning a cottage, cabin or vacation getaway. After all, who doesn’t dream of escaping city life to enjoy boating, fishing, swimming, entertaining friends and puttering around at their very own family cottage from time to time? You ...
  • On Your Mark, Get Set, BUY! How to Compete in a Busy Real Estate Market: -   Spring and summer are the most popular times of the year for homes to be listed on the market. There are several reasons for this, such as nicer weather, summer vacations and/or slower business which allows time to prepare a home to sell, and it’s also the ideal time to maximize a home’s outdoor ...
  • Buying a Condo? Check Out the Top 4 Condo Conundrums - If you’ve been looking through the local papers or on MLS for properties for sale in Barrie and Simcoe County, you’ve likely noticed that there are a lot more condominiums up for sale, as well as in the construction stage. Condos are definitely on the rise not just in our area, but all across Canada. ...
  • Considerations for Purchasing a Cottage or Vacation Property -   With winter finally behind us, it’s time to start thinking about summer and start making those sunny-day plans! Many people dream of owning a cottage or cabin getaway and visualize long, lazy days on the dock, naps in the hammock, fishing and barbeques. There’s only one thing getting in the way however…how to finance ...
  • Why You Need a Real Estate Agent - There are many things we can do on our own to save money without the need to call on a professional. For example, lots of us can build a deck, paint our house, or do our own taxes just fine without any outside help. However, when it comes to real estate transactions, it’s not that ...
  • Getting a Jump Start on the Spring Housing Market - There’s no denying that winters in Barrie are long, and when spring comes around there’s an energy and excitement in the air that just can’t be beat. The real estate market also revs up in the spring, and in order to take full advantage of it and get that home you’ve been dreaming of, you’ve ...
  • Thinking of Buying a Rental Property? Read This First. - You’ve thought about it for years. It’s a great way to make extra money in addition to building more equity. But what about the risks? Are there any downsides you should be aware of? Are you really ready to become a rental property owner? Before jumping in head first and buying a rental property, it’s ...
  • What the Heck is a HELOC? - If you’re a homeowner, you’ve likely come across the term HELOC before. You may have even considered applying for one. But do you really know what the heck a HELOC is? What is a HELOC? To understand a HELOC also known as a Home Equity Line of Credit, it’s best to think of it as ...
  • What is the Difference Between an Appraisal & a Home Inspection? - Purchase agreements, chattels, variable mortgages – when it comes to buying a new home, there are quite a few real estate terms that you should be aware of. Two terms that you may have already come across are home inspection and home appraisal. Although somewhat similar, these are not actually the same thing. Here is ...
  • 10 Awesome Things to Do in Barrie this Summer - Summer is finally here! How do you plan to make the most out of your summer and make great memories? With consumer debt a growing concern for Canadians, many families in Simcoe County are choosing the ‘stay-cation’ option rather than a costly vacation away in order to save money. If a ‘stay-cation’ is part of ...
  • Buying Your First Home? Read This First. - The spring season is almost upon us. In addition to nicer weather, spring also brings a surge in real estate activity in Simcoe County, with many individuals and young families looking to purchase their very first home. While it’s an exciting process, the search for your first property can also be a little stressful for ...
  • Why January is the Best Time to Buy a Home - Looking to purchase a new home in Barrie? Not sure when is the best time to buy? Although the weather may not be ideal, you may be surprised to learn that the winter season is actually the best time to purchase a home. Why Winter? Although spring is typically thought of as real estate season, ...
  • How Does the Bank of Canada Control Interest Rates? - The Bank of Canada seems to be shrouded in mystery; who are they and how can they control interest rates for an entire country? This unique corporation has an interesting job to do, and as Canadians, it’s rather comforting knowing they ultimately have our backs. What is the Bank of Canada and how does it ...
  • When might I need a co-signer on a mortgage application?  - After looking at houses and applying for a mortgage, there’s nothing more disappointing than having an application denied. If your application is rejected, it’s usually because you (and/or your spouse) did not meet all the lenders’ criteria, or, simply put, your application wasn’t strong enough. You may not even have a poor credit rating, it ...
  • What does amortization mean, and how does it impact my payments? - Wait! Keep reading! Most people’s eyes glaze over when we start talking about amortization and mortgage calculations, but I am here to simplify and explain this important part of your mortgage. Amortization of a mortgage refers to the length of time it takes to pay off your mortgage loan, and it is impacted by the ...
  • Is the bank the only place to get a mortgage? - When you’ve made the decision to buy a new home, whether you’re making the transition from being a renter to becoming a home owner or you’re taking the leap into home ownership moving out from under your parent’s roof… The most important part of the process isn’t finding the right house to buy… It’s securing ...
  • What is the best payment frequency for my mortgage? - When it comes to buying a home as a first-time home owner there are so many things to keep in mind, understand and make decisions about, it can be very difficult if you’re not fully understanding how each step in the mortgage process and what each of the decisions you make will mean for you ...
  • How Important Is The Financing Waiver When Purchasing Your Home - In today’s real estate market many people have been waiving the financing clause in their offer to purchase a home. Before 2017 adding a financing clause was what most Realtors® would recommend adding to your offer along with an inspection to ensure the home didn’t have any problems that could be a big expense to ...
  • When buying a house do I really need a home inspection? - You’ve finally found a house you love and are ready to make the offer to make it your own. As simple as that statement is, it’s a little more complicated than signing on the dotted line and making a cheque out for your deposit. Although it’s easy to get wrapped up in all the excitement ...
  • Why Barrie Is A Great Place To Live - As a mortgage broker in Barrie, I’ve become very familiar with the city, and I can say emphatically that Barrie is one of the best places to live in Ontario. Not only does the city have a thriving real estate market and economy, but it has access to some of the premiere natural landscapes in ...
  • How Good Does My Credit Score Need To Be To Buy A House - One of the most anxiety-inducing parts of getting a mortgage is wondering if your credit score is good enough to be approved for the mortgage you want. Since your credit score not only determines whether you’re eligible for a mortgage but also has an enormous influence over what the interest rate will be, it’s important ...
  • Mortgage Penalties Can Be Debilitating, Find Out How To Avoid Or Reduce Them - Far too often I see home owners inquiring about refinancing their mortgage in Barrie to consolidate debt, separation/divorce or a major home renovation only to find out that their pre-payment penalty is outrageous.  In most cases it prevents themselves from progressing into a better financial situation.  It is critical to read into the fine print ...
  • Why Should I Get a Mortgage Pre-Approval Before Shopping For a Home in Barrie? - Don’t go looking without one but also don’t rely of one too much!  I prefer to call a “pre-approval”, a “rate hold”.  Lenders will guaranty a rate for 90 to 120 days while you are out shopping for a home, if the rate drops over that time period you normally will receive the lower rate.  ...
  • Is Rent-to-Own the Right Choice for my Barrie Home Purchase? - You’ve dreamed of buying your own house in Barrie but for some reason you can’t qualify for a mortgage, due to ever tightening qualifying restrictions.  This has frustrated many young families who are struggling to break a cycle of renting.  There are many reasons why someone might not be in a good position to buy their ...
  • Is A Fixed Rate Mortgage Now The Right Choice For My Barrie Home? - It is true that fixed rates offer some longer-term deals if rates go up but are they going up anytime soon?  No one truly knows, economics have been wrong for the last 5 years.  So why should we believe them now?  While it’s true that the economy will eventually get stronger, we’re still a long ...
  • What to do when you can’t find the “PERFECT” home in Barrie? - So you’ve spent weeks with a real estate agent looking at everything & anything in your price range.  You’re getting frustrated because every property you look at has at least one “x” on your checklist.  Did you know that you have financing options to improve a property so that it meets your needs & wants?  ...
  • 5 Tips on Buying a Home in Barrie - Buying a home in Barrie or anywhere across central Ontario can be both an exhilarating and stressful experience. In this article, we offer 5 tips to help make buying a property a smoother and more pain free experience for you. Tip #1 – Educate Yourself Buying a house is a big deal, especially if it”s your first time. ...
  • How to Find the Perfect Home in Barrie - Have you ever spent day-after-day touring resale homes in Barrie with a real estate agent but not finding the “exact” match for your family?  There always seemed to be something just not right, maybe it was the kitchen, the bathrooms, missing a fence or the lack of landscaping.  Did you know that the Canada Mortgage ...
  • The Importance of a Mortgage Pre-approval in Barrie - You’ve probably heard the old adage “Don’t put the cart before the horse.” That same idea holds true when it comes to home buying in Barrie.  It happens far too often when a person will find that ‘perfect’ place and fall in love with it, only to discover that the home is out of their ...
  • The Complicated World of Pre-Approvals - Most home shoppers know that it is important to get “pre-approval” before they start looking around but do they have a true understanding of what they are getting?  Many don’t understand that a standard pre-approval simply confirms that, based on the information provided on an application, they would qualify for up to a $xxx,xxx mortgage.  ...
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