Home buying tips for people looking to buy Calgary or surrounding area real estate.

Navigating The Home Buying Process: Key Costly Mistakes You'll Want To Avoid

Buying a home is often the largest purchase a person will make in their lifetime, so it’s especially important as a home buyer to avoid those common and potentially costly home buyer mistakes.

Avoid These Home Buying Financial Mistakes

House buying cost

Dive into the crucial financial aspects of home buying that many overlook, from the misconception that a large down payment is always required to the nuances of securing the best mortgage terms. Here are a few common financial pitfalls.

  1. Not Getting Pre-Approved Before Starting the Search
  2. Assuming You Need a 20% Down Payment
  3. Leaving Your Deposit in an RSP or Virtual Bank
  4. Not Anticipating Closing Costs Like Lawyer Fees

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Get all your first-time home buyer questions answered, so you avoid costly mistakes (2024)

Owning a home may be your dream, but in order for the purchase to be the happy and satisfying experience it was meant to be, especially for a first-time home buyer, you need to ensure that you are financially and mentally prepared for the responsibilities that come with it.

  • 11 Questions to Ask When Hiring a REALTOR
  • 10 Questions to Ask About the Cost of Buying Your First Home 
  • 5 Questions to Ask When Searching for a Home 

Questions to Ask When Hiring a REALTOR

11 Questions to ask when hiring a Realtor.

1. How do REALTOR fees work? How much do you get paid?

The fees are determined at the time the home owners sign the listing agreement with the Listing REALTOR. The fees can…

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4 Tips you need to know when buying a home in a seller's market in 2022

Buying a home at any time can be stressful and overwhelming, however buying in a seller's market can be an emotional roller coaster. In a seller's market the experience of your Realtor matters.

You deserve an expert Realtor to help guide you through the process, providing advice and strategies to ensure you are successful in your home purchase.

First of all, what is a seller's market? In a seller’s market, there are more buyers than there are homes for sale. With fewer listings to choose from and more competition, homes typically sell quickly, often with multiple offers and selling over asking price. In a seller’s market, the seller has the upper hand.

If you have…

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You want to find the best Realtor for you when moving to a new city, so you have no regrets buying a home!

It sounds like one big adventure to just pack up everything you have and move to another city. You'll get to live in new place, meet new people and start a new job. It might sound like all fun, but that's a lot of new things to deal with all at once and it can get stressful.

There are tons of questions you start asking yourself when you are moving to a new city. Where will we live? What type of home can we afford? How far will I have to commute to work? Can the kids get into a good school? How do we avoid making costly mistakes?

When you move to a new city you want to feel confident that you are working with a Realtor who you can trust to…

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When buying a home in a newer community, you could be paying a Home Owners Association Fee.

Many of Calgary’s newer communities have Home Owners Association Fees or what's more commonly known as HOA fees. When you purchase a property in communities, like Auburn Bay, Mahogany, Springbank Hill or West Springs, you pay an annual fee to the community association which goes towards the maintenance of community amenities such as lakes, spray parks, tennis courts and outdoor skating rinks, to name a few.

Part of the appeal of these newer Calgary communities is that they are well looked after, with gardens or waterfalls welcoming you to the neighbourhood. So how are these great features taken care of? By Home Owners Association Fees.

1. What do HOA fees…

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How many rental properties do you think it would take to replace $100k in income at retirement?

Is it 20? 15? How about 10? It is actually 4.5.

The average household income in Calgary is just under $100,000 per year. The amount of free and clear real estate one needs to own to replace that income is surprisingly low. If you knew that four rental properties would replace your working income with passive income at retirement, do you think you would want to own revenue properties?

Like any large investment, it's important to know the pros and cons before making any big decision and you need to be clear on what your goals and risk appetite for owning Calgary rental property are.

Step 1. Can I Afford Income Property?

Are you financially…

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