Blog - home buying

Closing Costs in British Columbia

Closing Costs in British Columbia

Closing costs in British Columbia typically include several expenses that home buyers need to pay at the end of the real estate transaction. Some common closing costs in British Columbia may include:

PROPERTY TRANSFER TAX:
This tax is calculated based on the property's purchase price and must be paid when the property title is transferred. 

LEGAL FEES:
You will need to hire a real estate lawyer or notary to handle the closing process, including title searches, document preparation, and transferring funds.

HOME INSPECTION:
It is recommended to have a home inspection conducted before finalizing the purchase to uncover any potential issues with the property.

APPRAISAL FEES:
Your lender may require a…

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The Pros and Cons of Buying an Older Home: Nostalgia Meets Practicality

When it comes to buying a home, there's a certain charm and allure that comes with an older house. From unique architectural details to a sense of history, older homes can be full of character and provide a glimpse into the past. However, alongside the nostalgia, there are important considerations to keep in mind. In this blog post, we'll explore the pros and cons of buying an older home, helping you make an informed decision when embarking on your home buying journey.

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How to Get Approved for a Mortgage in 5 Easy Steps

Whether you’re a seasoned homeowner or a first-time home buyer, navigating the mortgage process can be downright daunting if you don’t know what to expect ahead of time. Don’t worry, we’re here to help!

Here is the start-to-finish mortgage process, summed up in five simple steps.

1. Ready Your Down Payment

To purchase a home in Edmonton (or anywhere else in Canada), you’ll need to come up with the mandatory 5% down payment. While we understand it can be tempting to move ahead as soon as you’ve scraped together the minimum (after all, it can take months or years), keep in mind, the larger your down payment, the more affordable your mortgage will be in the long run.

Mortgage lenders also tend to look more favourably on larger down payments.…

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Using Your RRSPs to Purchase a Home

When looking at purchasing a home, one thing that many people are concerned about is the ability to put a down payment on the property. A 20% down payment of the purchase price of the home is typically required. If a 20% down payment is not doable, then a 5% option is available. However, you are then required to have mortgage insurance through CMHC to be able to qualify for the mortgage.

Regardless if it is a 5% or 20% down payment, the government of Canada allows home buyers to use their RRSPs to purchase a home without a penalty for withdrawing the RRSPs This is called Home Buyer’s Plan or HBP.

However, before you withdraw anything, the following conditions must be met:

1)     The maximum amount you can withdraw from your RRSPs per year is…

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Beyond Boxes: Packing Materials You May Need for your Move

Beyond Boxes: Packing Materials You May Need for your Move

As you can probably guess, when you're preparing to move, you'll need boxes and tape — and, perhaps some bubble-wrap or old newspapers to use as protective wrapping for delicate items.

But that may not be all you need. Take a look at this list and see if you'll want any of these on hand while you’re packing or on moving day.

• Colour markers for labelling boxes. (Tip: Colour coding boxes by room will make unpacking much easier.)
• Stretch wrap to protect larger items that can't fit into a box.
• Small plastic bags to store dis-assembled parts, such as sofa legs, cabinet hardware, etc. (You don't want to lose them!)
• Moving blankets to protect floors.
• A dolly or hand truck…

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