Fort McMurray Real Estate Blog

How to Choose a Conventional Home Mortgage

Should You Get a Conventional Home Mortgage?People usually try for Canadian conventional mortgages first because they tend to offer better terms than FDA or other government-backed loans when buying a Gregoire new home. But because a conventional mortgage isn't backed by anyone else, the lender has no recourse if the buyer defaults. Hopeful homeowners will need to understand the stipulations, benefits, and drawbacks of the conventional loans before making their final decision.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

New Laws

Canadian federal laws for conventional loans are always subject to change based on factors such as the general economy and societal pressures. Homeowners may need to check with a financial planner or research on their own to learn of any new changes. In general, though, home buyers may have more options than they realize when it comes to conventional mortgages. No longer do they need a 20% down payment in order to qualify for certain terms. Today, they can put down as little as 3% as long as they comply with the following terms:

  • The mortgage must be fixed-rate
  • The...

Selling a Home in 5 Easy Steps

The Beginner’s Guide To Selling a HomeBuying and selling homes can be a confusing process, especially to those doing it for the first time. Even after thoroughly researching what to do, homeowners can feel overwhelmed with the amount of information that’s out there and the seemingly uncountable number of things that have to be done just to sell property. Fortunately, selling a home doesn’t have to be confusing or overwhelming. These are the five basic steps everyone has to do in order to sell a home.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

1. Hire a Skilled Real Estate Agent

No homeowner is going to get very far without the help of a professional agent on their side. Real estate agents spend years learning about the market and the ins and outs of how the job is best done, so they have a lot more insight than the average homeowner ever could, even with help from the Internet. When using an agent, homeowners can be assured that their home is reaching interested buyers, and they will never be left floundering trying to figure out what they should be doing next.

2. Set The Right Price for the Home

There are a few different websites out there that keep track of how much money...

What to Know About Buying a Home

Buying a home isn't complicated when buyers understand the basicsThe 2006 census estimates that over 68% Canadians own their own home. Home ownership continues to be a strong motivator for those working to build their futures. Even Millennials many of who watched parents struggle through the financial crisis of over a decade ago are entering the housing market in increasing numbers.

The home buying process can seem complicated. There are, after all, many elements and multiple parties involved in a sale. When it comes to the basics however, buying a home is pretty straight-forward.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Pre-Purchase Preparation

It is best to pre-plan for a housing purchase by checking on and building your credit rating and saving for a down-payment. The amount of down payment required to buy a home will depend on a variety of factors including a buyer's credit rating, income, job history, loan to value ratio of the home and more. Generally down payments will range from 5% to 20%. In Canada, loans made with less than a 20% down payment require mortgage insurance from the Canadian Mortgage and Housing Corporation (CMHC).


Curb Appeal In One Weekend: A Guide for Sellers

Curb Appeal Fast Track: What You Can DoHome buyers like homes that look well maintained and well-loved, so curb appeal is important during the home buying process. In fact, a good landscaping job can deliver a return on investment of over 200 percent. In many cases, curb appeal is more important than staging a home. For home buyers in a hurry, there are ways to boost curb appeal in just one weekend. These tips can help.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Tend the Grass

Overgrown, weedy grass makes a bad impression on buyers. Sellers can remedy this problem by pulling weeds, trimming the grass, edging the lawn and sweeping away all leftover debris. If the lawn is not healthy (example, if there are dry, dead patches), the seller may need to take more dramatic action. Buyers who plant seeds in bare patches will need to give the grass time to grow.

Fill Bare Spaces With Plants

Dead or unhealthy plants can make a home look barren or even spooky. Removing dead plants and replacing them...

Home Showing Tips That Help Your Home Sell

4 Must Read Home Showing TipsEvery homeowner wants to do everything in their power to ensure that their home sells when it’s time to put it up on the market. But when selling relies on the unique taste of the buyers, wouldn’t that be impossible? Not necessarily. There are quite a few different things that homeowners can do to boost their home’s chances of selling. Here are some different ways to help home showings go over well and put any home’s best foot forward with buyers.

Keep the Home Furnished

It may seem like a good idea to remove furniture from a home in order to cut down on distractions for buyers coming through, but it actually does the opposite. The proper staging of a home involves using the furniture that's available, not removing it. Here is what emptying a home can do:

  • Make the home feel cold and uninviting.
  • Make it difficult for buyers to envision how their furniture will fit in rooms.
  • Make buyers nitpick faults because the home is so empty.
  • Make rooms feel smaller than they actually are.

Keeping furniture in a home can give buyers inspiration for how they want to furnish it and make them feel welcome in the home. Homeowners should do everything in their power to keep their home furnished when selling, and sellers who can’t due to work or another important factor can hire a professional...