How Do Interest Rates Affect Home Buying? What are interest rates and how do they work? An interest rate is the percentage of a loan that is paid in addition to the principal amount. This amount is paid to the lender to compensate them for the use of their money. The interest rate for a loan is typ

The Winter and Your Heating System. When a few cold days add up to months, it's time to start thinking about your heating system. A home's heating and cooling systems are essential and they're built to last. Still, the wear and tear of long winters, especially here in British Columbia, can have a l

What You Need To Know If You're Moving Into a Smaller Home. People downsize for a variety of reasons and they don't all face the same challenges. Before we go into what challenges you may encounter when you move into somewhere with less square footage, let's take a look at why some people sell a la

The Risks of Buying a Fixer-Upper What does it mean to buy a home as-is? If you buy a house "as-is" you are usually getting the home at a lower price, but you could potentially end up repairing or doing work that would have been ordinarily completed by sellers. Buying a home as it is can require a

Can You Afford a Second Home? Some homeowners are lucky enough to wonder "Can I afford a second home?" Whether you are just curious or are in the early stages of considering buying a vacation home, let's go over how someone can afford a second home. What will you use the second home for? There are

Should I Get a Reverse Mortgage or a Home Equity Line of Credit? Before we start, let's get the definition of a normal mortgage out of the way. Mortgages are loans given to people to purchase a property with. The money that you borrow is then repaid over several years, together with interest. To ge

When Do You Know That It's Time To Buy a Home and Stop Renting? Evaluate your current situation. Before you make a major decision like a home purchase, there's a lot of thinking that needs to be done. First, you need to look at your own current situation. How much are you paying monthly for rent? Y

How To Save On Your Utility Bills. Check your utility bills for accuracy. The first thing to do is check your meters. Make sure they are still accurate. The second thing to do is make sure the bill reflects your actual usage, not what you used last month or even last year. If you have an old air co

The Not So Obvious Costs of a Real Estate Transaction When buying a home, there are the obvious costs, like your down payment and your mortgage but in addition to these big sums, you also have to deal with a bunch of small fees. Both the buyer and the seller need to be aware of these costs as they

How To Choose a Buyer When Selling Your Home How do I choose a buyer for my house? The answer to that question depends on how fast you want to sell the house and at what price. A house with a lower list price means a faster sale but you could be leaving money on the table. After all the trouble you

What You Need To Know When Building a House. Designing the house's layout One of the first things you need to do when building a house is to decide on a layout for your design. There are many different layouts, so it all depends on what you want and how much time and money you have for your project

What Are The Steps in The Home Buying Process? Seven steps from start to finish. The home buying process can be broken down into six simple steps: Look at listings to set expectations right; Get a real estate agent; Get pre-approved for a mortgage; Find the right home; Make an offer; Negotiate the

Different Homes For Different Stages of Life. The Apartment Let's face it, most of us have been there. That first tiny apartment you share with your college roommates. The one-bedroom you're "settling" for because it's all you can afford and is close to the subway line that takes you to work. The d

Is Buying a Home Stressful? Short answer: of course. It's an emotional roller coaster with lots of money involved. Preparation can however make things so much easiest. Read on for some tips on how to stay cool and find your new home. The home buying process can be stressful People say moving is one

What Is Mortgage Refinancing And When Should I Do It? The process of refinancing your mortgage allows you to get a new loan for the same property, but with lower monthly payments, better terms or both. It can also be done to take cash out of your home's equity. That is if you have sufficient equity

Real Estate Deal Breakers & Red Flags Lack of a yard or outside space. When you're dealing with an apartment in the heart of Vancouver, this might not be a huge deal, but if you're somewhere less crowded, some form of outside space is essential. Whether you use it to get some fresh air or sunlight,

The Best Season To Sell Your House? Winter might not be the best season to sell your home. If it has snowed recently and may continue to do so in the future, you might be disappointed by the lack of guests during an open house. You might even lose a potential buyer because of this. Put yourself in

Adding a pool? Find out what it means for your home's value. What does adding a pool entail for your home? An inground pool adds a level of luxury typically associated with larger homes. They’re a great way to keep the family entertained, but one thing they come with is added maintenance and upkeep

All About Foreclosures. Before taking any concrete action, get in touch with a lawyer or counsellor. The following is meant to give you a quick rundown about foreclosed homes, financial institutions, and your options with regard to your mortgage lender. What is a foreclosure? When a homeowner falls

Is Buying a Fixer-Upper Worth It? Buying a fixer-upper can be a great investment because you'll have the potential to make more money off of it. Most fixer-upper homes are lower-priced houses because of the financial difficulty faced by the previous owner. These repairs and renovations can be costl