Tanya DiNicolantonio, Author at Brandow Group

No matter what your circumstances, selling a house always involves a bit of work. Preparing it for showings usually requires a thorough cleanup and often means investing a few dollars to do some repairs or spruce the place up a bit.

You do not have to do everything for your house to sell. (Frankly, in a fast-moving market, all but the most problematic or overpriced houses sell.) The more of these items that you can do, though, the more you improve your chances of getting higher offers, fast.

Use this checklist to guide your home prep. And if you need a sounding board to help you decide which items you can skip, we are here to listen and discuss it with you! For a downloadable PDF versions click here

DECLUTTER

Go through each room and pack/store/get rid of anything that will not be used before the big move. Clear surfaces of things you do need by putting them out of sight. This includes items like:

Off-season or unused clothing/toys/equipment
Picture frames
Personalized décor (family pictures, religious items, mementoes)
Accessories
Files/books/magazines
Knick-knacks
Displayed collections
Pet supplies
Personal care items
Bulky and/or mismatched furniture
Thin out and tidy up items in closets, including linen closet

Find some tips here for major decluttering projects.

REPAIR

There is an important distinction between repairs and renovations. When you have decided to sell your own home, it is often not worth renovating. In many cases, putting in a new kitchen or bathroom will not result in a net profit to you. Read more about ROI on renovations here.

However, repairing existing items and finishing half-done projects is almost always worth the time. It shows that the place has been well cared-for and inspires confidence in buyers that they can trust that the house is solid. If you don’t have time or the skills to do these repairs yourself, consider calling in a handyman. (Or a qualified tradesperson for things like electrical and plumbing, etc.)

Here are some things that often require small repairs:

Every Room

Ensure that light fixtures, switches, and outlets work; replace burnt bulbs
Replace broken door hardware; adjust or oil sticky hinges
Check that windows are on their tracks, and that they open, close, and lock properly
Replace broken glass panes
Scrape and repair flaking paint
Repair small holes and cracks in ceilings and walls; touch up paint
Repair broken flooring to the best of your ability; shampoo carpets
Install new switch plate covers on outlets and light switches as needed
Fresh, neutral-coloured paint on walls, doors and trims (if painting isn’t an option, try a Magic Eraser to wash off scuffs)

Kitchen/Baths

Recaulk around all fixtures as needed and fill in missing grout
Repair/replace leaky faucets, valves, or pipes
Tighten or replace broken or loose cabinet doorknobs
Install a clean, new showerhead
Consider replacing or reglazing chipped or damaged sinks and bathtubs
If needed, consider painting cabinets
Replace hazy mirrors and old shower curtains
Install a new toilet seat
Repair/replace loose or broken door knobs and hinges

Other Spaces

Tighten loose handrails; install where missing
Inspect, clean, and repair fireplace and chimney as needed
Inspect, clean, and repair furnace and A/C as needed
Patch roof leaks
Ensure eaves troughs are extended far enough away from the house
Secure any loose stairs or steps.
Fill foundation cracks
Adjust garage door openers as needed

CLEAN

No matter how much of a clean freak you are on a daily basis, the cleaning you do before listing your home for sale is different. (And if it isn’t, you likely have a super-power that makes the rest of us jealous!)

A sparkling clean home, even one that is outdated, greatly appeals to buyers. They will pay more for a house they perceive to have been well maintained.

Don’t feel that you must do all the cleaning yourself. This is a big job, and hiring an extra pair of hands can speed up the process and save some energy for things no one can do for you!

There is a little overlap between cleaning and repairing. Since a coat of paint instantly gives a clean feel, some paint touch ups are included here!

Start with the exterior and move on in:

Exterior

Clean up and store toys, bikes, pool equipment, and outdoor gadgets
Thoroughly clean up after pets
Clean up and weed gardens
Rake up leaves
Trim overgrowth of bushes and trees
Clean and seal decks and driveways
Pressure wash decks/patios/siding/concrete walkways
Clean gutters
Wash windows
If necessary, paint the front door to cover scuffs or fading
Clean up railings, either by wiping down or adding a fresh coat of paint
Clean light fixtures

Interior

Every Room

Remove dust and cobwebs from ceiling to floor
Vacuum/wipe down vents and vent covers
Wipe baseboards
Clean windows and sills
Wash light fixtures and ceiling fans
Dust blinds/wash curtains
Wash and polish floors
Deal with any odours due to pets, cooking, or smoking
Remove any scented items: candles, potpourri, air fresheners, etc. (Open windows to air out instead)

Kitchen/Baths

Thoroughly clean appliances
Scrub all surfaces: Sinks, countertops, faucets, backsplashes, floors
Pull out fridge and stove and clean behind them
Unblock drains
Descale porcelain fixtures

Other Spaces

Unfinished spaces (garages, basements, laundry areas) should be decluttered, tidied, and broom swept

ADD FINISHING TOUCHES

You have some choices when it comes to final decorating choices to present your home on the open market. Stagers are skilled professionals who know how to maximize the appeal of a space with colour, texture, placement, and an eye for design. You can choose to let the stager loose in the house and totally re-decorate.

If you don’t need the whole service, which is the case with many sellers who will continue to live in the house while it is for sale, there is another option. Most stagers will do a consultation with you (ours sends the bill to us for this service, so you don’t pay for it). During this meeting, he or she will suggest ways of using your own belongings to enhance the beauty of your home. You may get some recommendations to add a few pieces here and there as well. Their fresh eyes on the home you’ve known for many years could be just the inspiration you need.

Or you can use your own creative flair to decorate to your taste and put your own finishing touches on the place.

Whatever you decide, there are some basics that you may find helpful. Here they are:

Plant simple, colourful flowers in the front flower bed
Install easy-to-see address numbers at the front
Add a new mat at the front door
Remove fussy window treatments and replace with simple blinds or curtains that allow lots of light in
Keep most colours neutral on furniture and walls, with little pops of brighter colour in accessories only
Display a simple, well-placed vase of flowers in the house
Carefully arrange furniture to allow a free walking path through the different spaces in the house
Hang fluffy, matching towels in the bathroom
Consider adding new bedding and a few throw pillows, at least in the largest bedroom

In every industry, professionals should offer a minimum standard of expertise and customer service. Whether you are hiring a lawyer, electrician, investment counsellor, or wedding planner – you expect them to know their stuff. Part of their job is to protect you, the client, from any unknowns.

Realtors work with buyers by showing available properties. More importantly, though, they research them and prepare offers that offer a measure of protection against financial losses.

In a market like the current Hamilton real estate market, which strongly favours sellers, many serious buyers find it frustrating to try to find a property that they can afford. An experienced buyer’s agent is a valuable ally when working to navigate the aggressive, fast-moving offer process.

Here are 10 things you, as a buyer, can expect from your Hamilton real estate agent:

1. Help setting up financing:

Your Hamilton real estate agent should have an understanding of the steps involved in getting a mortgage. He or she knows the difference between a pre-qualification and a pre-approval. With industry connections to lenders and mortgage brokers, your agent should be a reliable source of referrals to other pros who can help you get the financing you need.

2. An automated search of properties that you want to see.

Realtors belong to real estate boards that maintain the MLS system. Although you may also use realtor.ca (an excellent site!) to sort through current listings, your agent can provide more detail through a personalized search. For example, many of the listings that show up on realtor.ca have accepted conditional offers, and will not be available for viewing. Until the conditions are removed, though, they show as actively “For Sale,” which can be frustrating for buyers. A simple daily email with listings filtered by your personalized criteria can help you find what you are looking for more efficiently.

3. Help to analyze the market.

With prices rising quickly, it is important to understand how to decide how much a house or property is worth. Your real estate agent will be able to show you how to compare other properties that are currently for sale or recently sold to any one that you are interested in. They can also provide x information, historical data, and other details that factor into current value.

4. Updates on market activity in your chosen area(s).

When you are watching a neighbourhood where you would like to buy, you likely want to know about every firm sale that happens there. Your agent can keep you informed of the sale prices of properties in the area.

5. Insight on neighbourhoods.

The benefit of choosing an agent who knows the local area cannot be overstated. This is especially true if you are relocating to an unfamiliar part of town. Your agent should be able to help you identify neighbourhood influences that will affect your daily life so that you can choose the right location for your lifestyle.

6. Strategies to win a bidding war.

Now that multiple offers (bidding wars) are, once again, the norm for most well-priced properties, most buyers need some guidance if they are to get an accepted offer. An experienced buyer’s agent sees the process from the inside every day and can help you understand how to compete in a way that gives you the best chance of winning the (much-despised) bidding war.

7. Expert negotiation skills.

In a seller’s market, you may not be able to have conditions in your offer – even previously normal ones, like financing and inspection. However, that doesn’t mean that your agent cannot structure an offer to protect your interests. There are questions that they can ask, and clauses they can insert into an offer that create accountability on the part of the seller.

8. Referrals to inspectors and contractors.

You may be able to have a pre-offer inspection, if you like a house enough to spend a little money on it before getting an accepted offer. Or, like some buyers, you may decide that you want to have a thorough inspection after taking possession. Your agent should have a network of reliable inspectors and contractors, or access to good-quality, reliable referrals for you to tap into.

9. A close working relationship with your lender and your lawyer.

Once you have an offer in place, and after it has been accepted, your lender and your lawyer will require regular updates and a steady flow of paperwork. Your agent should be able to facilitate this communication so that you can focus on packing and moving.

10. Stay on top of the process until closing and beyond.

There will be milestones between a firm sale and closing day. You’ll need to deliver a deposit before the deadline, you will have walk-throughs as described in your Agreement of Purchase and Sale, there is a Title Search date built into your contract, and there may be other communications with different parties in the days leading up to closing. Your agent will be there to help make sure everyone has all the information they need, and to work with your lawyer in the rare case that something doesn’t go as planned.

As realtors who treasure our relationships with our clients, our hope is that you will think of us when you have a question even after closing. We strive to be trusted resource that is available to you long after your name is on the deed to the house!

No matter whether you sell in a sellers’ market or a buyers’ market, the last thing you’ll want to do is leave money on the table. After all, you home is one of your largest assets and it should pay you back in full.

The question that sellers often ask is this: Should I price my home at a list price higher than my target sale price to leave a little room for negotiations?

It’s a sensible question, since almost every other commodity, product, or service works that way. With real estate in a strong sellers’ market, though, that pricing strategy can become a liability.

Here’s why:

Buyers are extremely well-educated. The vast majority of them start their search online, learning about comparable properties, neighbourhoods, and even some real estate legal matters. (This is a very good thing!)

By the time they reach out to a buyer’s agent for representation, they have been watching the market for some time. Most are probably aware of current conditions, at least to a certain extent.

Since well-priced properties are currently selling in multiple offers, and often well over the asking price, a large number of buyers are actually narrowing their search. They will ONLY look at properties listed below their actual budget. They expect to negotiate in reverse – as counterintuitive as it seems – competing with other qualified buyers and bidding up the house they want.

Let’s say you, as a seller, want to settle on a price no lower than $500,000. You reason that you want to list at $515,000 to leave a little room to negotiate. If you do this, you will actually miss out on a pool of buyers who refuse to look at anything listed over $499 000 because they believe they cannot afford it. (For the record: We agree – this is complete insanity, and we are not saying this is how it should be, just stating that these are the current conditions.)

Cater to an online audience

Another factor to consider as a seller is the way buyers shop. Since most of them start their search on Realtor.ca, it’s important that we work with the right categories on that site.

Visitors to realtor.ca must set search parameters. For properties under $500,000, they show up in $25,000 increments – that is, you will select properties between $450,000-475,000, or $300,000 -$325,000, etc. Properties worth $500,000-1,000,000,are sorted in $50,000 increments, and over $1,000,000, it’s $100,000.

For a buyer to see your $500,000 house, if they are shopping within their budget as most are doing right now, you cannot put it in the next price bracket by listing at $515,000. Instead of leaving room to negotiate with your perfect buyer, you will have actually set it up to filter your property right out of their online search. They won’t even see your listing!

Even though the market is white-hot, over-priced properties still sit on the market much longer than well-priced ones. The only danger in the current conditions is in over-pricing. A property that has been for sale for longer than is typical will raise red flags. Buyers (and their agents) will wonder what’s wrong with it. This sets you up to face resistance from buyers during a time when the majority of sellers are experiencing multiple offers.

Please don’t misunderstand: We do not agree with the ‘strategy’ of pricing a property so low that you would not accept a firm, full-price offer. We just know that the old way of doing things has changed – and leaving room for negotiation by bumping the list price is no longer an effective way to attract the right buyers.

If you would like to know how we arrive at an appropriate list price for a property, please give us a call. We’d be glad to share our effective strategies with you!

Your neighbourhood is an extension of your home. For better or worse, your neighbours can feel a little like family.

This is probably why clients sometimes ask if we can sell a house without putting a sign on the lawn. (We are talking about people who want to use a realtor, not folks who want to try selling privately.) Many potential sellers simply dread having to explain why they’re moving away. They don’t want to hurt anyone’s feelings or have to answer personal questions.

Have you considered trying to do this kind of a ‘stealth sale?’

Of course, you are the owner, the client, and the ultimate decision-maker. However, there are a few reasons why we consider having a sign to be a crucial part of a marketing strategy. (And it has little to do with ‘getting our names out there.’ Really!).

1. A sign provides crucial information.

Your realtor has a system for answering calls and replying to messages quickly. Potential buyers and their agents who drive by can call on the spot. They can request information about your home while it is fresh in their minds. Without a sign, you could miss out on some serious interest from buyers who are looking specifically in your neighbourhood. We find this to be particularly important with out-of-town buyers who often spend a day driving around areas they like.

2. Many agents (including The Brandow Group) include QR codes or memory-friendly website addresses like ‘TheHouseOnYourStreet.ca’ on signs.

This can be useful to both passers-by and buyers who book showings. They can make a note of the website to review later on and virtually visit (or re-visit) the house. Given the amount of information and visuals that are included in your listing (photos, video, 3D tour, detailed description), this can prove to be a very effective part of your marketing strategy.

3. A For Sale sign can provide a layer of safety and a deterrent to door-knockers.

Many sellers report that, as they are preparing their house for sale, they have strangers approach the house and ask to see inside. This could be due to the shortage of listings in our area. Eagle-eyed buyers look for signs of an upcoming available house. They just want a shot at winning an accepted offer. However, it isn’t safe for you to allow unvetted strangers into your home. As awkward as it might feel to refuse entry to a lovely couple or family who just wants to buy your house, we strongly recommend that’s what you do. Without a sign, you will likely have more of those unwelcome visits from folks who have noticed a flurry of activity at the house. Once you have a sign on your lawn, you can simply announce that you are under a contract that prohibits you from allowing unescorted visitors through. There is contact information, and easy ways to obtain information without your direct involvement with buyers.

4. Neighbours will be less likely to panic.

We know you love (most of) your neighbours. They will eventually find out that you’re moving. Without a doubt, there may be an uncomfortable conversation or two but, in our opinion, a For Sale sign is a better way to deal with this part of moving than a ‘stealth’ strategy. How will the neighbours react if they see a parade of strangers letting themselves into your home when they know you aren’t there? The most fearful may call the police – thinking you’re being broken into. The bolder ones may approach to demand to know who the ‘visitors’ are – putting a sour taste in buyers’ mouths even before they’ve seen the inside. And the quiet ones may be more hurt than they would be if you just told them what your plans were. We can’t think of any benefit to personal relationships that come from hiding the fact that your home is listed for sale.

You could sell your home without a For Sale sign. Just like you could carve a turkey with a dull knife…but we don’t recommend it! A sign is an important part of your total marketing package – one that, in our experience, speeds up the process of getting your home sold. Click here to see the complete strategy – and please don’t hesitate to call with any questions you think of!

For many, retirement is a goal they plan and look forward to for a number of years. It is a time to enjoy the fruits of your labours and some well-earned relaxation!

Depending on your lifestyle, you may be considering cashing out of some real estate – possibly including your own family home. Moving to a smaller home will likely mean going through your belongings and purging items you no longer need.

Your goal may be to simplify, to free up cash, to accommodate new medical needs, or even to get closer to grown children or grandchildren. What is the best way to approach the often bittersweet task of downsizing? Here are some suggestions to help you get started:

1. Give yourself plenty of time.

There are emotions attached to things, and it’s important that you allow yourself some time to deal with those. Nostalgia and reminiscing can be wonderful, even if there are a few tears along the way.

2. Get into the right frame of mind.

Be determined to get rid of items that are not working or are not being used. It can be difficult to part with things that hold sentimental value, but before you start, commit to some ground rules. You might decide that anything that hasn’t been pulled out of storage, or that has needed repair for a year or more has to go. Above all, try to make your decisions final. Avoid second-guessing yourself by going back through a pile a second time, “just in case.” Sticking to this resolve is easier if you work in manageable blocks of time so that you don’t get overly tired or drained during any single decluttering session.

3. Start in the easiest room and work your way up.

This will almost never be the kitchen, the garage, the basement, or the attic! A spare bedroom, office, linen closet, laundry room, or storage space will be easier to tackle. Once that’s done, you may find that you’ve built some momentum for the job, and bigger spaces will seem a little less daunting.

4. Ask for help.

If you work best when you have a sounding board for your thoughts and ideas, enlist the help of someone supportive. Sometimes, just hearing a person we trust say that it’s OK to get rid of things can help make decisions a little easier.

5. Rid yourself of duplicate items.

Simplify decision-making by starting with this step in each space. In a large home, it’s easy to store multiples of the same item: pots, pans, utensils, even full sets of dishes. Keep the item or set you will use regularly and donate, sell, or give away the extras. Take a good look at how many sheet sets, towels, extra blankets and pillows you really need, and purge the surplus.

6. Use technology to save space.

If you have many paper files or photo albums, consider having them digitized. This can free up lots of space and protect your records and memories at the same time! Save only the absolutely necessary hard copies of your important documents. This principle can even help you to reduce the size of some treasured collections. If you have display shelves of travel mementoes, dolls, or knick-knacks – why not start a digital photo gallery to preserve the beauty and the memories, and keep only a few favourite pieces from the collection? For help getting started digitizing, click here.

7. Sell what you can.

Sites like Kijiji, Craigslist, and Facebook Marketplace make it easy to list items for sale yourself. It is important, though, that you be mindful of safe selling practices. Consignment shops are also an option, and they may even pick up some of the heavier items for you. If you have many items to sell, you might consider hiring a company to run an estate sale for you.

8. Enjoy giving gifts early!

Have you been saving some heirloom-type items for children, grandchildren, nieces, or nephews? Consider giving them now. You will not only free up space for yourself, but you will also have the pleasure of watching loved ones enjoy your treasures all over again.

9. Pack and label items to keep as you go.

As you decide what to keep, pack up seasonal and other items that you will not need before moving day. Label each box carefully with the room where it belongs and a few details so that you can tell what its contents are at a glance. This will help you see how much you are bringing with you.

10. Hire a junk removal company to come and haul away the trash.

If you are emotional about watching it go, plan an outing and ask someone else to meet them and settle up the bill for you.

Downsizing can be exciting, liberating, and terrifying, all at the same time. As with every stage of life, there can be much to look forward to and enjoy after the hard work is done! If you feel that you are ready for this one, and you would like a helping hand, feel free to give us a call – we are here to help with recommendations and referrals.

You know how your math teacher always told you that you wouldn’t have a calculator when you need to do math in real life? That’s not at all true. We have SIX free calculators available to make your life a little easier. Sorry, Mrs. Jones.

LAND TRANSFER TAX CALCULATOR

Have you ever heard of welcome tax? It’s a one-time tax bill charged to home-buyers when they take possession of their house. I’ve always thought what a backhanded “welcome” it is to call it that. Seriously?

“Welcome to the neighbourhood. Pay up.” Sheesh.

As it turns out, the name of the tax is just a play on words: Jean Bienvenue was a Quebec politician who created a tax on the transfer of property in that province in 1976. “Bienvenue” means “welcome.” Ironic, right?

In April 1974, Ontario instituted a Land Transfer Tax that is paid by buyers (never sellers). In 2008, Toronto added its own municipal tax that effectively doubles the amount of tax a buyer can expect to pay.

The only situations that *may* offer exemptions from paying land transfer taxes are:

A purchase by a first time buyer (up to a capped maximum)
A transfer between spouses
A transfer between other family members
A sale or transfer involving related corporation, or employer/employee relationships

A first time buyer who qualifies for a refund can buy up to $368,000 without paying any of the LTT. This equates to $4000 refund.

You can figure out how much Land Transfer Tax you will pay, if you want to. Here are the rules:

On amounts up to $55,000 you pay 0.5%
On amounts over $55,000.01 up to $250,000 you pay 1.0%
On amounts between $250,000.01-400,000 you pay 1.5%
On amounts between $400,000.01-2,000,000 for a single-family residence you pay 2.0%
On amounts over $2,000,000.01 you pay 2.5%

*Only use the information above if Mrs. Jones is standing over you and not allowing you to use this Land Transfer Tax calculator!

MORTGAGE PAYMENT CALCULATOR

When you work with us at the Brandow Group, you will often hear us recommend that you talk to a skilled mortgage broker to explore your options for financing. Mortgages are not all created equal, and it’s important that you get as much information about what type of loans are available to you as possible before you agree to anything.

Interest rates, amortization schedules, mortgage type and terms, prepayment privileges, default insurance, and early payment penalties all factor into your total cost. Examining these details ahead of time will help you choose wisely and plan for your own financial success.

If you aren’t sure how much of your savings you want to use toward your downpayment, or how much difference the interest rates being offered will make – this calculator is for you. Try different combinations of numbers and you may be surprised where the biggest savings are to be had!

*This calculator is not a substitute for a consultation with a great mortgage broker – just a tool you can use to impress the broker with your knowledge when you meet him or her!

MORTGAGE AFFORDABILITY CALCULATOR

Banks love acronyms. Look around at the posters on the walls, and you’ll see a bunch of them: RSP, RRIF, GIC, CD, ATM, APR…and if someone is having a bad day, they may throw in a NSF.

Two acronyms you may not hear as often are GDS and TDS, which stand for Gross Debt Service and Total Debt Service. Even though we may not see them as often, these ones are a huge part of your home-buying qualification, since lenders use these two ratios to decide exactly how much money they will allow you to borrow.

Gross Debt Service calculates your housing costs in relation to your income this way:

Mortgage Payment + Property Taxes + Heating Costs + 50% of your Condo Fees

Annual Income

Total Debt Service adds in any other debt, like credit cards, car payments, and other loans to the calculation. (Ironic that the word “gross” is in the other ratio, isn’t it?)

So…

Housing Expenses (per GDS) + Credit Card Interest + Car Payments + Other Loan Expenses

Annual Income

When analyzing a file, the lender analyzes the “GDS/TDS ratios” and there are some benchmarks that they use to create an offer for you.

The standard, average numbers they look for are 32% for GDS, and 40% for TDS. (Meaning that your household expenses represent 32% or less of your total annual income, and your total debt load is no more than 40% of your income.) Lenders express this as 32/40.

Some applicants with excellent credit scores, good, stable income, and a higher down payment may be able to borrow based on calculations that show up to 39/44.

When CMHC is involved, though, the rules tighten up, and the maximum they will consider is 35/42. This was adjusted in July 2020 to prevent buyers from struggling if the interest rates go up on mortgages.

See what lenders will see when they work on your file by running your own numbers here.

*Check out some tips that could help improve your ratios before you’re ready to apply for a mortgage!

CMHC INSURANCE CALCULATOR

CMHC is one of three mortgage insurance providers in Canada that help buyers with lower down payments to get into their first home. They bridge the gap between the traditional 20% down payment that lenders require by insuring the difference for folks with 5-19% down.

By charging a premium to the buyer for their insurance policy, they create the opportunity for more Canadians to own real estate. There are limits and parameters, of course.

For example:

The value of the property cannot exceed $1,000,000.
A buyer may purchase up to $500,000 with only 5% down, but must have 10% of the remaining portion for amounts over that.
Funds must come from the buyer’s own resources or a gift from a family member.
Property being purchased can contain between 1-4 separate dwelling units.
GDS/TDS ratios must be within allowable limits.

To calculate the cost of mortgage default insurance, enter your purchase price and your downpayment amount here. It will give you an idea of whether investing now is worth the additional premium in order to take advantage of current market growth.

*Pro tip: If you must discuss your decision to go with a high-ratio mortgage with someone who is convinced you should have waited and saved more, here are some points of analysis to show that you’ve done your homework. This could be a real generation gap issue between Boomers/Millenials/Gen Z!

DOWN PAYMENT SAVINGS CALCULATOR

Have you ever seen the story of what happens if you start saving with a penny, doubled every day for a month? The point of the story is to demonstrate the power of compounding – and it is a very impressive chart.

Chances are pretty good that none of us will be able to put funds away that aggressively … but every one of us can benefit from momentum once we begin saving. The snowball effect is real, and watching your nest egg grow is immensely satisfying.

You will find many websites dedicated to helping you start a side hustle for extra cash, cut costs or even slash taxes to keep more of your own earnings.

However you choose to save for your down payment, you will doubtless benefit from an organized plan, including a written budget.

Create an official cash flow summary for yourself to help with motivation!

*The time-tested method of saving that advocates Paying Yourself First is a very effective strategy for reaching your financial goals.

DEBT REPAYMENT CALCULATOR

There is no doubt that debt, especially credit card debt, can be extremely stressful. High interest rates on outstanding balances can inflate the true cost of purchases to unreasonable heights, and make repayment difficult and exasperating.

For anyone who is considering buying a house, especially for the first time, it is wise to consider paying off all debt first, if at all possible. This will help you qualify for better mortgage rates and terms, and give you the wiggle room you may need, as you make your mortgage payments, to do repairs and improvements to your home.

As with saving toward a down payment, rapid debt repayment requires commitment to a plan, preferably one that is down in writing. The good thing is that, once you’ve paid off all debt, if you just continue putting the same amount into savings for a while, you will soon have a positive balance that is even larger than the outstanding amount owing was!

Here is a repayment calculator to help you plan for the day you get your ZERO statement from the credit card company!

*In conclusion, here are some wise words from Manoj Arora:

‘When you know the impact of little expenses, you will realize that there is nothing little in this world.’

It is our hope that these tools will help you make sound financial decisions along the way in your journey to home ownership. If you have questions or would like to discuss your circumstances with a view to buying your first home, we are here to help!

We wanted to share a couple of news items with you this week. Links to the full articles are below

Hamilton – Lead Pipe Upgrade Program is Being Accelerated

Hamilton’s Planning Committee (I know I said City Council in the video…forgive me that error!) met this week and reviewed the current Property Standards by-law about lead in Hamilton’s water supply pipes. If approved next week, an adjustment to the law could compel Hamilton homeowners to match any city upgrades to the private portion of their pipes. Although no one would argue against the benefits of this program, it could result in a cost that could be a hardship for some. It seems as though some exceptions may apply. If you live in an older home, most typically ones built before 1950, read the article in the Spectator to find out more about how this might affect you.

Caledonia – Land Claims Unrest Affects McKenzie Meadows Project

Caledonia holds appeal for many buyers who are looking to leave Hamilton or even Toronto. It’s got a small town “feel” and beautiful, tranquil surroundings, but is still accessible for commuters. As we have mentioned to our clients many times, though, anyone new to the area must be aware of ongoing disputes over Native Land claims.

This week, we have reports that there is an active occupation of a building site that is in its fifth week. Buyers who expected to move in this fall are growing more and more concerned.

DECLUTTER

REPAIR

CLEAN

ADD FINISHING TOUCHES

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Listing or finding a house is just the beginning. A successful sale depends on effective negotiations.

How long will negotiations take?

For Buyers: If the seller accepts my first offer, does that mean I offered too much?

Will I get a chance to improve my offer?

For Sellers: Do I have to accept the highest offer?

Should I counter an offer?

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Here are 10 things you, as a buyer, can expect from your Hamilton real estate agent:

1. Help setting up financing:

2. An automated search of properties that you want to see.

3. Help to analyze the market.

4. Updates on market activity in your chosen area(s).

5. Insight on neighbourhoods.

6. Strategies to win a bidding war.

7. Expert negotiation skills.

8. Referrals to inspectors and contractors.

9. A close working relationship with your lender and your lawyer.

10. Stay on top of the process until closing and beyond.

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No matter whether you sell in a sellers’ market or a buyers’ market, the last thing you’ll want to do is leave money on the table. After all, you home is one of your largest assets and it should pay you back in full.

Here’s why:

Cater to an online audience

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Your neighbourhood is an extension of your home. For better or worse, your neighbours can feel a little like family.

1. A sign provides crucial information.

2. Many agents (including The Brandow Group) include QR codes or memory-friendly website addresses like ‘TheHouseOnYourStreet.ca’ on signs.

3. A For Sale sign can provide a layer of safety and a deterrent to door-knockers.

4. Neighbours will be less likely to panic.

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For many, retirement is a goal they plan and look forward to for a number of years. It is a time to enjoy the fruits of your labours and some well-earned relaxation!

1. Give yourself plenty of time.

2. Get into the right frame of mind.

3. Start in the easiest room and work your way up.

4. Ask for help.

5. Rid yourself of duplicate items.

6. Use technology to save space.

7. Sell what you can.

8. Enjoy giving gifts early!

9. Pack and label items to keep as you go.

10. Hire a junk removal company to come and haul away the trash.

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LAND TRANSFER TAX CALCULATOR

MORTGAGE PAYMENT CALCULATOR

MORTGAGE AFFORDABILITY CALCULATOR

Gross Debt Service calculates your housing costs in relation to your income this way:

Total Debt Service adds in any other debt, like credit cards, car payments, and other loans to the calculation. (Ironic that the word “gross” is in the other ratio, isn’t it?)

CMHC INSURANCE CALCULATOR

DOWN PAYMENT SAVINGS CALCULATOR

DEBT REPAYMENT CALCULATOR

‘When you know the impact of little expenses, you will realize that there is nothing little in this world.’

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