Buying

Found 128 blog entries about Buying.

Want a master suite with a walk-in closet? A double attached garage? A newer kitchen with high-end finishes and appliances? An open concept floor plan so you don't feel like you're cut off from your company when preparing dinner? These are not unreasonable desires for your next home but can be hard to find in pre-owned homes on the market, especially if the homes you are looking at are 25+ years old.

So you've exhausted the market and are now considering purchasing a new build. You get to choose the floor plan and the finishes, so it's understandable that you would be feeling this as an option. No matter how shiny and new sounds in theory, though, there's always pros and cons that should be considered before you buy a house. Let's dive into the

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For most people, buying a house is the single largest purchase they’ll ever make.  Wanting to ensure you get a good deal is only natural. But how can you really know? It’s not like you can ask the seller how much the other buyer is offering, and in a seller’s market there are likely to be multiple offers and competing bids.

Having said that, you still don’t want to overpay just because the market is hot. Of course, the price is not the only determining factor in deciding whether a home is a good purchase—location and condition are also integral factors. With that said, as your REALTOR®, I have many tools I use to help you ensure you get the best deal possible.  

Comparables

When you show interest in a property, and before we even discuss a

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SASKATOON REAL ESTATE REPORT

February Update:

February's residential sales of 352 units were up from January's total of 278. They were up 53.04% from February 2020 which saw 230 units sell!

- 131 of the 352 were in the price range between $200,000 - $349,999 (37.22%)

- $200,000 - $299,999 had 85 units sell (24.72%)

- $300,000 - $349,999 had 38 units sell (12.50%)

Here are some interesting numbers for February

-$500,000 - $750,000 had 37 units sell, February 2020 saw 15 units sell

- $750,000 - $999,999 had 8 units sell, February 2020 saw 0 units sell

- $1,000,000+ had 1 unit sell, February 2020 saw 0 units sell.

When home sales are up, along with higher priced homes, it's an indication that consumers are confident in the

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Known as the Paris of the Prairies, Saskatoon is the largest city in Saskatchewan. With the South Saskatchewan River flowing through its centre, as well 6 traffic bridges and 2 train bridges, it has also been called the City of Bridges by many, too! No matter what nickname you choose to use, though, there is a lot to love about the city of Saskatoon; and more and more people are choosing it as a wonderful place to live, work and raise a family! Why? Well, here are just 10 reasons why:

Meewasin River Valley

Saskatoon lies on the banks of the South Saskatchewan River and has wide, tree-lined streets amid vast parks and green spaces. Listed by Reader’s Digest as one of the top 10 greatest hikes in Canada, the Meewasin Valley Trail extends for 60

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Canadian interest rates are low, and Saskatoon home buyers are rushing to lock in the lowest possible interest rates. However, low interest rates are not the only thing to consider and be aware of when looking into and applying for a mortgage. Below I will explore some of the biggest mistakes some house hunters make before they even offer on a home.  

Spending Too Much on a Home

Lenders are legally prevented from approving mortgages for more than 35% of your household income, but most financial advisors recommend mortgages no more than 28% of your income. However, just because you may be approved for a larger mortgage does not mean you should purchase a home for that maximum amount.

Do your homework. You know your family's spending habits—is

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The Saskatoon real estate market is hot right now. Buyers are searching for homes for sale quicker than they are coming on the market, and homes in certain price ranges are seeing an increase in value. This is making it even tougher to get onto the property ladder as a first time home buyer. These programs from the Government of Canada may be helpful to you if you are ready to start your house hunt:

The First Time Home Buyer Incentive

The First-Time Home Buyer Incentive is just like it sounds—an incentive for first time home buyers to buy their first house.

If you have the minimum down payment for an insured mortgage, you can apply to finance a portion of your home through a shared equity mortgage with the Government of Canada. For a purchase

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Finding a foreclosed property for sale is not easy—it takes patience and a lot of searching. But the thought of finding a gem for a great buy is a dream for any investor, making foreclosed homes an appealing option!

Having said that, purchasing a foreclosure is definitely not for the inexperienced. And in order to handle the process best, you will need to have a strong team of real estate professionals on your side. Let’s take a deeper look into foreclosures and see if you’ve got what it takes to purchase a foreclosed home.

Buying a Foreclosed Property

Benefits: 

Great Price - Perhaps the biggest appeal to buying a foreclosed home is the chance to purchase a great property for less than market value. This is a very real possibility, since

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Some people may make the mistake of rushing into renting or buying a property, only to realize later on that there’s something that they dislike or is missing. I’m not talking about missing shingles or whether it is up to code or not—a proper home inspection can easily catch that. I am talking about those key features and lifestyle elements you and your family are looking for that take the property from house to home. Those should play just as important of a role in your home search as whether the plumbing has been installed correctly.

Below are my best house hunting tips to ensure you choose a property that you will love.  

#1 - Does It Check Your Boxes

My best advice before you even begin your house hunt is to evaluate your current home.

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Entering the real estate market and buying a home can feel overwhelming. You may be asking yourself where to start and what do I need to know? Well, to help you get started, I’ve compiled a list of frequently asked questions to help you get you ready for your home search!

What Should I Do Before Starting My Home Search?

This is a great question because it means you realize that buying a home begins long before the house hunt. Saving for a down payment may take months or even years to accomplish and having a down payment ready to go is the first step on your journey to home ownership.

Next, you will need to look into your finances, set a budget, and interview lenders to shop for your ideal interest rates and mortgage options. Once you’ve

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When you buy a home with a REALTOR®, you gain peace of mind knowing they’re trained professionals who work with property purchase contracts on a daily basis. Having said that, you are still the principal on this contract and you should never sign anything that you do not fully understand. Let’s dig a bit deeper into a typical real estate purchase agreement, specifically looking at conditions and clauses.

Real Estate Agreement 101

An Agreement of Purchase and Sale is a written contract between a seller and a buyer for the purchase and sale of a property. In the agreement, the buyer agrees to purchase the property for a certain price, provided that a number of terms and conditions are satisfied. 

The process begins when the purchaser makes an

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