Purchasing a home will most likely be the largest spend people make in their lifetime. As couples make their first baby steps together towards building a new life, they must consider their financial situation and make smart decisions accordingly. Here are some tips to get you thinking: Get it all out Money and finances can be a stressful topic for newlyweds but it is a much needed conversation. Many couples choose to maintain separate bank accounts, which can often lead to hidden debt unbeknownst to the other spouse. While the way you organize your debt and savings is not as important, both of you need to have a clear picture of your entire financial landscape before purchasing a home. 2. Renting is a valid option Before going deeper into home purchasing, examine the debt you have as a couple- from school, credit cards or wedding expenses. It is best to take care of your debt before piling on a mortgage on top of that.  Often, the most important investment topic of newlyweds is about debt. If you are not confident that now is the right time to buy a home, consider renting to save ...

Seller’s Remorse: The Consequences and How to Best Avoid It You have found a buyer to purchase your home and you have signed the contract. As you’re getting ready to leave your home, you’re hit with a huge wave of regret and you think to yourself, “what have I done?!” You are feeling seller’s remorse, a common feeling many people experience as they sell their homes. When selling your home, it is always best to be sure of your decision before you make it. Backing out of a contract can produce many difficulties for both you and the buyer. The Consequences of Having Seller’s Remorse If you decide to back out of your contract you make experience several consequences: Lawsuit for Specific Performance A lawsuit for specific performance is when the court requires you to complete the sale. Buyers often have the advantage in this scenario if they have provided everything you have asked for. Furthermore, if buyers have already made moving arrangements such as changing jobs or selling their other home, the court will favour them as they have already made decisions that place them in a vulnerable position. ...

Why do you always need contingencies when purchasing a home? You have just spotted the perfect home. You calculate the costs and build a financing plan that works perfectly with your allotted budget. After deciding to purchase the home, a property inspector informs you that your house needs major improvements from termite and mold damage – all of which is too much for you to afford. What can you do now? When buying a new home, it is always best to plan for contingencies to prevent the worst possible thing from happening. With contingencies written into your contract, you can back out without any penalty. What are Contingencies? Contingencies are clauses written into contracts that act as a back-up plan. Contingencies state that a set amount of factors must be met before the sale of the house can go through. They allow you to exit a deal without penalties if anything should occur. Types of Contingencies Financing Contingencies Financing contingencies state that a buyer can terminate a contract if he or she does not receive proper financing to purchase the house. This means if the purchaser is unable to secure a loan, or ...

As a property investor, one of the most important things to consider is who your tenant will be. In a survey by LeaseRunner, 60% of landlords stated that finding the perfect tenant was one of the hardest parts of leasing real estate properties. By choosing the right fit for your house, you can guarantee more timely payments and a better kept property. So how do you find the perfect tenant? Imagine you have just purchased a real estate investment property. You’re excited and you want to get a new tenant in as soon as possible. Now what? 1. Advertise Your Place To find the perfect tenant, people need to know that your property exists. This means you need to advertise your place to get the word out. Some things you can do include taking quality photos of your place. This also means you should take time to make your property look nice. Clean up your place and make it look presentable. Quality properties will attract quality tenants. You can advertise your property by placing “For ...

Last month, the Calgary housing market recorded the best year-over-year sales and price growth, outshining the rest of Canada’s housing market. In April, Calgary’s MLS data recorded 3,003 sales, or a 10.4% increase, while overall national sales dropped 3.1% to 47,997. Key drivers such as a strong job market, full-time employment growth, migration, and income growth have played a vital role in driving housing demand and allowing Calgary to outshine the rest of Canada’s housing market. These key drivers make Calgary a valuable place for investing. To read more about Calgary and its economic indicators, also check out 6 Reasons Why Calgary is My Pick for Real Estate Investment in Canada! 1. Strong Human Capital The Toronto Region Board of Trade recently published global benchmarking report (Scorecard on Prosperity) ranking Calgary ahead of 24 global metropolitans, including San Francisco, Boston and Toronto, for its “robust employment”. Cities were evaluated based on key human capital characteristics such as employment, diversity, health and safety, and education. Calgary also placed first in fewest accidental work-place deaths (per 100,000 population) and female participation rates. Manager of workforce and productivity at Calgary Economic Development, Jeanette Sutherland, explained that the vitality economic ...