Just Listed Calgary Real Estate Blog

Understanding LMI for Home PurchasesThe standard down payment for a home is 20 percent of the purchase price, but not everyone has that much saved up. Homebuyers typically pay for Lenders Mortgage Insurance (LMI) if they're unable to make come up with the 20 percent. The expense of LMI can be considerable, but it's often the only way for a buyer to purchase the property. See how it works, and why it actually benefits buyers in the long run.

How It Works

A bank wants to take on as little risk as possible, so they're going to reward people with more cash on hand. Meeting only the minimum down payment of 5 percent means a homeowner is going to have very little equity in the home, making it that much easier for them to abandon. LMI is designed to protect the lender in case the

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What Is A Home WarrantyIn some provinces, new home builders are required to offer a home warranty to home buyers. In other parts of Canada, the decision to offer a home warranty to buyers is left up to the home builder. Regardless of location, buyers of new homes should be aware of a builder's home warranty policy and what it covers.

Lack of a home warranty policy can be a point of concern. Reputable builders who are customer service oriented often provide a warranty to ensure the customer's needs are addressed even after move-in. Reading the policy before purchasing the home can help the buyer go into the deal with open eyes.

What Does A Home Warranty Cover?

In general, home warranties often offer protection against structural defects, defects in work, defects

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Facts about Home Insurance in Canada Everyone Should KnowAlthough possessing home insurance in Canada is not mandatory when you buy a home, home owners without at least minimal insurance coverage on their property may one day face severe financial problems or even bankruptcy due to weather-related damage to their home, fire, theft or living expenses if they are unable to reside in their home. Additionally, Canadian home insurance policies provide personal liability coverage for personal injury accidents occurring on your property. For example, if someone trips and falls in your home or yard due to negligence on your part, your home insurance policy may help pay for medical costs and litigation arising from the incident.

Types of Canadian Home Insurance Coverage

Comprehensive House Insurance in

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Common Documents Needed to Sell a HomeOnce a homeowner has decided that they want to sell their home, they need to make sure that they get everything together to make the process smooth. That means the homeowner needs to have all of the right documentation in place and readily available for the process. Some of these documents can be created by their real estate agent during the process but there are also some that they need to locate on their own. Once they know what they need, they can start the process of selling their home and they can help the process run smoothly and faster as a result.

The Main Documents they Need to Sell their Home

There are a few main documents that homeowners should gather when they are considering selling their home. These are documents that their

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Should I Repair Myself or Call a Professional?DIY projects are some of the most satisfying activities a homeowner can do after buying a property. It's a chance to learn a new skill while eliminating the high cost of labor. However, DIY projects also come with their fair share of risks. Besides the frustration and time delays that often arise during complicated procedures, there's also a much darker side of DIY repairs. If the owner makes a mistake while they're working, they may end up endangering the house or the family who lives inside of it. These types of mistakes may not even be apparent until after a disaster occurs. See when to break out your toolkit, and when it's far more practical to whip out your cell phone to call a pro.

Safety Considerations

Homeowners need to first weigh the

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What to Know Before You Buy a Fixer UpperWhen done right—and with understanding of the risks involved—a fixer upper can be worthy investment that's also a fun side project. To measure the risks, make sure you understand these 4 things to know about fixer upper home value, neighbourhood, and true costs of renovation.

The Home's Structural Condition is the Most Important Aspect

You must know what you're really buying before you invest in a fixer upper. A thorough home inspection can tell you whether the house's problems exceed what meets the eye. If you skip this step, you could wind up with a house in need of a pricey service, such as foundation work or mold remediation.Once you understand the home's condition, ask yourself whether you're comfortable proceeding. While mold in homes

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How to Decide If You Should Buy or Rent a HomeChoosing whether or not to buy or rent a home is an important decision form many Canadian residents. Many may believe that buying a home is a worthwhile investment and the idea of homeownership may be quite attractive. What do residents need to know in order to decide which path, renting or buying, is right for them at this time?

Speaking to a financial planner may help Canadian residents determine which course may be most suitable, depending on their assets and the current housing market. Understand some of the factors involved in choosing to buy or rent a home.

Are you ready to put down 10-20 percent of the purchase price?

In Canada, big banks want a first-time buyer to be able to put down an average of 10 percent on a home. This does not

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Home Improvements to Do on a BudgetReal estate professionals know that sometimes it's the smaller and budget-friendly improvements that can make a difference when selling a home. A kitchen remodel has potential to impress some buyers, but home sellers may find it best to focus on less costly improvements. Benefits from investing in improvements like updated landscaping and a closet organization system for the master bedroom often outweigh those from larger, more expensive projects.

Ceiling Fans

The right ceiling fan can make a huge difference in the look and feel of a room. According to ENERGYSTAR, a fan with blades 36" to 42" easily accommodates a room with 76 to 144 square feet of living space. Larger rooms, 144 to 225 square feet need at least 44" fan blades, while a room

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How Smart Technology can Help Sell a HomeThe short answer is yes! Canadians have been quick to adopt new technological developments, and this country's residents spend almost twice as much time online as the global average. Home automation and smart technology are well on the way to becoming the new normal in Canadian homes. At present, about 34 percent of households have smart technology, and 60 percent of owners report that they intend to own at least one "smart" device within two years in South Calgary homes and elsewhere.

If you're thinking of selling your home, you may be wondering what immediate improvements are likely to attract buyers. You also might be nervous about the dollar amount you have to spend upfront in order to boost your home's appeal, attract buyers and generate an

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What to Know About Buying a Fixer UpperA fixer upper may be a great choice for those equipped with the know-how and expertise to tackle renovations projects or are willing to contract professionals to make necessary upgrades or repairs. Are you looking to live in the fixer upper or do you want to sell it after your renovations? This question may make a difference in how you plan your time and budget for repairs and cosmetic fixes.

What should you know before buying a fixer upper?

Homeowners can enjoy the process of making a home their own and can bring in preferred design elements to make the most of a property. However, there can be challenges for those looking to buy and renovate a fixer upper home in South East Calgary or elsewhere in Canada. Learn more about permits, budgeting

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