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Common Mistakes When Buying a House
Posted on Thu, 15 Jun 2017, 02:50:00 PM  in Home buying tips
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Purchasing a home is a process that many people spend the earlier years of their lives waiting for. Even after they are settled into their first homes, they have plans for larger ones or ones in different locations later on. Due to this excitement, you may become overeager and make some errors. One of the best ways to avoid mistakes is to know what they are in the first place.

 

Not Using a Real Estate Agent

Common MistakesChances are that you've made many purchases in your life. Therefore, you may assume that you can easily buy a house without the assistance of a professional. The purchase of a home is much different from other buys because you must go through many steps, and you need to ensure that they are done in the correct order. Also, you are spending a significant amount of money on something that you cannot just go to the store and return if you don't like it. As a result, working with someone who can guide you is wise.

 

Spending All of Your Money

Many people decide to obtain a pre-approval because they seriously get involved in the home-buying process. Once you have your own pre-approval, you will know how much of a house you are permitted to buy. However, that does not mean you should spend that entire sum of money. Consider the fact that you have all of your other bills to account for and that even if you love your new house, you will probably want to go out to explore the neighborhood and what it has to offer. In other words, just because you can afford a certain amount of house on paper does not mean that it is realistically the right decision.

 

Not Practicing to Pay

Before you buy a house, you should get an idea of how much money you will spend each month on all of your new expenses, such as the mortgage, taxes, electricity and so forth. Prior to making a bid on any house, see if you an actually set that amount of money aside without struggling. In the event that you cannot afford to do so, you must reevaluate how much money you want to spend on a house and if you are even ready to make that purchase at all.

 

Disregarding Neighborhood

You may have your sights set on a particular style of house or a particular aesthetic and pay little to no attention to the other factors surrounding the purchase. With the right permits, you can make a number of changes to the structure and interior of a house, but you can never change the neighborhood that it's in. Even if you find the house of your dreams, looking into properties is likely wise when it is in an area with high amounts of crime.

 

Going Too Big

If you are like many people, you are likely enchanted by a prodigious house with all of the trimmings. Remember though that what you want is not always what you need. By purchasing a larger house, many of your bills are going to cost more, and you are going to have more rooms to clean. Of course, with a large family, you may need a large house. On the other hand, when you are purchasing a home for a small family, ask yourself if you really need all of those extra rooms.

Making mistakes when purchasing a house can turn into serious blunders because they are not always so easy to fix. Knowing what errors could arise can help you to have more power in avoiding them.


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10 Of The Best Flowers To Plant When Moving Into Your New Home
Posted on Wed, 31 May 2017, 12:00:00 PM  in Home buying tips,  Home selling tips
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10 Of The Best Flowers To Plant When Moving Into Your New Home

Planting flowers in Canada can be one of the best ways to break in and personalize your new home. Once you have signed on the dotted line with your sales representative, then you can start planning all of the beautiful flowers that you would like to accentuate your yard with upon moving in.

Do not feel limited by the 10 flowers on this list. There are literally hundreds of flowers that grow in Canada both in the wild and those that can be planted from seed packets or small plants in yards. If you are lucky, you will get a wonderful mix of both.

 

Roses

If you love flowers, then you are likely thrilled that roses bloom very well in most places of Canada. Roses are actually one of the toughest flowers that you can plant in your yard, and they have one of the best scent payoffs for the price it costs to plant them. Roses are a perennial plant that will bloom every year if properly taken care of.

 

Dahlias

10 Of The Best Flowers To Plant When Moving Into Your New HomeDahlias are a beautiful flower that are sure to wow and inspire. These beauties should be dug up in winter and stored indoors to avoid freezing in the cold Canadian winter climate. They can be grown and planted outside again when it warms up in late April and throughout May. If cared for, these flowers will bloom for many years.

 

Foxgloves

Foxgloves are a uniquely designed flower that is sure to draw attention from anyone that sees them. These flowers can be planted in spring as seedlings and will bloom throughout the summer and into fall. They will appear in spring the following year after planted and will hit peak bloom that following summer.

 

Day Lilies

If you are a beginner and want to start planting flowers in Canada than you should plant day lilies. These are very beginner friendly and will grow in a variety of soil conditions. They are easily kept and can withstand missing a day of watering every now and then. The bonus of planting day lilies is that they come in a wide variety of beautiful colors.

 

Poppies

Many flowers grow well in the warmest months in Canada. Poppies are another very hardy flower that grow in early Spring. These flowers can also be grown by simply spreading them anywhere that you like to fill in any awkward gaps. You are sure to love this bold pop of color in the early Spring.

 

Purple Coneflowers

Purple coneflowers have incredibly bright color and are simply stunning to look at. These flowers also help to attract bees and butterflies so they make excellent additions to every garden while simultaneously supporting these dwindling insect populations.

 

Blue Flag Iris

The blue flag iris is actually the official flower of Quebec, and for great reason. These flowers are actually naturally growing wildflowers in Canada that tend to prefer the wetter conditions of wetlands, swamps, and watery meadows in lower Canada. If watered enough, these are also excellent additions to personal gardens.

 

Canadian Columbine

The Canadian columbine flower is another flower that is native to Canada. It was so beautiful that it was was actually one of the first flowers sent back to Europe after European settlers first arrived in Canada. It is one flower that tends to keep away deer if you have a problem with deer eating your gardens. In addition, it will attract Canada’s most unique and beautiful butterflies and hummingbirds.


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5 Types Of Clients That Sales Representatives See Everyday
Posted on Mon, 15 May 2017, 11:50:00 AM  in Home buying tips,  Home selling tips
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5 Types Of Clients That Sales Representatives See Everyday

Sales representatives work with hundreds of different clients looking to buy and sell homes throughout their career. While there are certainly unique clients that pose questions and circumstances that sales representatives would say they have never seen before, these professionals can lovingly sort the majority of their clients into 5 separate categories.

It is important to know that different sales representatives classify clients informally based on their own unique set of standards and expectations. This is in no way meant to offend individuals or groups.

 

Those That Know Exactly What They Are Looking For

5 Types Of Clients That Sales Representatives See EverydayIt is not uncommon for a potential buyer to meet with a sales representative knowing exactly what they would like a home to have. These lists could outline a few details that would make or break a sale, but more than likely these lists are very long and non-negotiable. Unfortunately, it is not always possible to fill every request that a client may have. This is especially true if the budget is too low to include the homes that have many or all of these requirements.

 

Those That Ask Questions At Every Opportunity

Sales representatives see quite a few new buyers and sellers that are very interested in the process and ask as many questions as they can think of. Professionals generally welcome these questions and answer them to the best of their advantage, but the process significantly slows down for the clients that ask the same question over and over again. There is nothing wrong with wanting to be educated, but clients are advised to be aware that excessive questions could lengthen the buying or selling process.

 

Those That Are Not Proactive During The Buying Or Selling Process

A sales representative is a professional that helps clients to buy and sell homes as they need or want to do so. It is exceptionally frustrating when a client visits a sales representative with the expectation that the representative will take care of everything without any input, direction, or interaction of any sort from the client. In order for a sales representative to do their job efficiently a client must be able to communicate with them often, give input, and sign paperwork periodically. While it may not be the most exciting or joyous time in a person’s life, sales representatives really need all clients to be somewhat proactive in their own buying or selling process.

 

Those That Fall In Love On The Spot

Sales representatives meet quite a few clients looking to buy a house that do not really know exactly what they are looking for or what is available to them in their price range. When presented with a variety of options on paper, in magazines, or online these clients may love everything or may wish to wait to see the home in person. Once the client arrives at their next potential home, they simply fall in love with the home that they are looking at. The problem arises when a buyer falls in love with every home that they visit.

 

Those That Cannot Be Pleased With Any Outcome

There are individuals in Canada that are buying or selling a house because they have no other choice. These individuals would most likely rather just stay where they are. While circumstances vary greatly, these clients never seem pleased. Clients may be offered more money than they were asking for the home, may buy a home for significantly less than it had been listed for, or may have been relieved of fees for one reason or another and still cannot find joy in the situation. It is hard for a sales representative to see clients unhappy which makes this a hard group to represent.

 


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How To Fix Up Your New Fixer Upper
Posted on Sun, 30 Apr 2017, 01:20:00 PM  in Home buying tips
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It takes a very ambitious person to take a home in disrepair and make it fresh, clean, and new again. If this is exactly what you are, then keep on reading for a few tips and tricks to making your journey just a little bit easier.

 How To Fix Up Your New Fixer Upper

Look At The Foundation First

When you are looking into buying a home to fix up, look at the foundation first. Make sure to ask your sales representative what they know about the house and the condition of this very important structure. A crumbling or cracked foundation may mean that the house cannot actually be saved or used in the way that you would like it to be. Foundations that are in good or great condition can be stabilized and reinforced much more often than those that are in very poor shape.

 

Always Do The Research On Roofing Materials

The majority of houses that are sold and purchased as fixer uppers will need to have the roof replaced or redone. Canadian winters can truly take a toll on the roofs of houses, both fixer uppers and those sold as “ready to live in”. If you are brand new to buying and fixing up houses, then you will quickly realize that the number of choices you have to choose from will be overwhelming. Do your research on the area you live in, the different roofing materials pros and cons, and what you can actually afford to spend on the materials necessary to redo the roof.

 

Keep Your End Goal In Mind

If you are fixing up the house to live in, then you have very little to worry about. You will be fixing the house exactly how you would want it. If you are fixing up the house to sell, then consider what the market is looking for. Does your neighborhood need a house with antique charm, an enclosed porch, and a row of fruit trees? Do the majority of houses on the market have brand new wooden floors and multiple bathrooms? If you know what the market is looking for, then deliver on those desires to the extent of your ability.

 

Consider Completely Replacing The Floors

Most carpets, laminates, and wooden floors in fixer uppers are in total and complete disrepair. These floors are crumbling, moldy, broken, and incredibly dangerous. If these floors have asbestos in them or other dangerous spores and fibers, then they can cause a great deal of harm to anyone that moves into the house. In order to completely eradicate this fear and use this as a marketing strategy, simply replace all of the flooring. If you can afford to replace all of the flooring with real hardwood floors then do so. This will give new owners the option to add carpet or keep the hardwood. If you can only afford to do hardwood in one or two rooms, put this in the kitchen and bathroom. The other rooms can be reasonably carpeted for an affordable price. It is totally reasonable to put carpet in bedrooms and the living room.

 

Take Home Advice

Buying a fixer-upper certainly takes a lot of trust, courage, and ambition. Congratulations on being that person. You are saving a beautiful piece of architecture from crumbling to pieces and being lost in history forever. Hopefully the tips above will help you to make this process as easy as possible with the greatest amount of personal satisfaction.


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A New Home Versus an Older Home: Drawbacks and Benefits
Posted on Wed, 15 Feb 2017, 10:05:00 AM  in Home buying tips
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If you were to ask most potential homeowners, they'd love to buy a brand-new home versus one that was built a few decades ago. Sometimes, it comes down to personal preferences, but there are some definite benefits and drawbacks to purchasing a newly built home.

 A New Home Versus an Older Home: Drawbacks and Benefits

 Benefits to Purchasing New or Having a Home Built

  1. Customization

If you've ever lived in an older home, you know that there are many tweaks that should have been made while it was being constructed. You can make those changes to accommodate your lifestyle. That includes the huge master suite, massive family room and office space you want.

 

  1. Design Elements

Along with the size of the rooms, you can choose design elements to fit your family like an eat-in kitchen or a walk-in closet. You can choose everything down to the paint colour in your newly built home.

 

  1. New Home New Everything

With a new home, you're getting all the newest wiring and technology. That includes alarm systems, cable and media sound. If you're a fan of technology, this is essential in a new home.

 

  1. Less Maintenance

New homes mean that along with the wiring, all the appliances and HVAC equipment is brand-new. You won't have to worry about costly repairs or maintenance for a while. In the case of the heating and air, you'll want to do some seasonal maintenance, but nothing expensive.

 

  1. New House Smell

Everything in the new home should be absolutely perfect and customized to exactly what you want in the home. That means a beautiful new house smell so to speak. There'll be no flaws or disappointing elements for you to have to deal with in your new home.

 

 Drawbacks to the Newly Built Home

  1. The Cost

New homes can cost thousands and thousands more than an older home. You're paying for the new home's perfection. When you're discussing the things you want with a builder, you'll want to be careful about the costs or they could skyrocket quite easily.

 

  1. Additional Amenities

When you're shopping for a new home, the model you've seen can actually cost a lot more than you expect. Upgrades and additional amenities can really start to accumulate. It can end up costing even more.

 

  1. Missing the Quaintness

When you buy a new home, you're not getting any of the quaint charm you'd find in an older home. That's also true of the neighbourhood. The neighbourhood, trees and landscaping will be new too.

 

  1. Travel Time

New neighbourhoods are often away from the main parts of the city. You'll end up away from your usual markets and shopping destinations as well as the children's schools and other activities.

 

  1. Construction Zone

If you're one of the first homeowners in a new neighbourhood, you'll likely be living in a construction zone for a few years while the rest of the homes are built. Along with the noise, there'll be plenty of dust and dirt flying around too.

When you factor in the benefits and the drawbacks, you'll likely have your decision about whether a new home makes sense for you and your family. If technology and new construction and amenities are important, you'll want to go with a newly built home instead of an older one. When your idea of a home is large trees along shaded walks with quaint details, you'll likely want an older house.


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What You Should Know About Restrictive Covenants
Posted on Tue, 31 Jan 2017, 10:05:00 AM  in Home buying tips
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If you are considering buying a home in a planned subdivision, there is a good chance that you will become part of a homeowners’ association, commonly referred to as an HOA. One of the jobs of an HOA is to protect the property values within the community. One way an HOA does this is by requiring member homeowners to pay monthly, semi-annual, or yearly fees. These funds are used to maintain the common areas of the community. Another way is through a set of rules known as restrictive covenants that govern what homeowners in the community can and cannot do with their property.

 What You Should Know About Restrictive Covenants

Examples of Restrictive Covenants:

Restrictive covenants can vary widely between communities. These covenants can cover numerous issues, including

  • the colors that you can use to paint your home,
  • the type of landscaping that you can plant,
  • the size or breed of dog that you can own,
  • the type of window coverings allowed,
  • the number and type of vehicles that you can park on your property,
  • the height and type of fencing that you can install, and
  • whether you can install basketball hoops or other sporting equipment in your driveway.

A neighbourhood with an HOA that implements and enforces reasonable restrictive covenants will typically appear better maintained and see home values increase faster than a neighbourhood without an HOA.

 

Your Rights When Purchasing a Property in an HOA Community:

Once a seller accepts your offer, you are entitled to review the community’s covenants and by-laws. You should take advantage of this opportunity since you are expected to abide by the rules whether you have read them or not. If you find the terms unacceptable, you are normally entitled to back out of the contract without penalty within a certain number of days. Another option is to bring the issue to the attention of the HOA board to see if an exception can be made.

 

What Happens if You Violate an HOA Rule?

The consequences for violating a restrictive covenant vary from community to community. In most cases, you will be issued a warning advising you to remedy the situation. If you fail to do so, you may receive a fine.

 

The Benefits of an HOA:

While some homeowners are reluctant to be told what they can and cannot do with their property, an HOA does offer some significant benefits, including access to more recreational amenities and a better community aesthetic. You will also typically have fewer maintenance concerns in an HOA community since mowing, snow removal, and even trash service are often included in your dues.

 

Restrictive Covenants Can be Changed:

In most cases, restrictive covenants enacted by an HOA are reasonable and ensure that all residents of the community are able to enjoy their home and neighbourhood amenities to the fullest extent possible. Unfortunately, there are instances where HOA boards over-reach and tighten regulations to the point that they infringe on the rights of individual homeowners. In these instances, it is important to remember that restrictive covenants can be changed by a majority vote of the member homeowners.


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How to Know You’re Ready to Buy a Home in Canada
Posted on Thu, 15 Dec 2016, 10:55:00 AM  in Home buying tips
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So you are thinking of picking up and moving to a new home in Canada? We really could not be happier for you and all that you are going to experience. But are you still having a handful of reservations and are in need a little reassurance. That is what we are here for!

 

Examine the Reason You Have Thought of Moving to CanadaHow to Know You’re Ready to Buy a Home in Canada

You clearly have a reason to be buying a home in Canada if you have thought this far ahead and have found yourself here on our blog. You just have to remember what that reason is and whether or not you really want to be in Canada as opposed to the other locations on Earth that you could be moving to.

 

Are You Considering Buying Because You Feel Unsafe Elsewhere?

This is actually a very common reason that buyers come to Canada to buy their very own Canadian dream home. Many people flee their countries because of political stress or the lack of safety that they feel they have there. You would not be alone if you are moving to Canada to buy a home that would make you feel safe day in and day out. In that case, we are more than welcome to take you in and show you just how wonderful Canada is to live in. If you feel unsafe where you are, please continue to seek that perfect Canadian home.

 

Are You Financially Stable?

You may be wondering if you can afford to buy a home in Canada. Maybe you have recently married or had your first child. Maybe you are moving to follow your dreams or to get a job. Whatever the case may be you must explore whether or not you will be financially able to afford the move and the home you wish to move into. To do so you can talk to a financial advisor, or seek additional help online. There are plenty of sources willing to help you figure out whether or not you can afford a home, and if so, how much you can afford to spend on the home you would like to buy. Congratulations on making this a serious consideration of yours. If you are wondering, questioning your financial stability is an excellent first step toward buying a new home anywhere.

 

Do You Love Winter Weather?

You may be thinking, why ask about winter if you already know we are looking for a home in Canada? Doesn’t all of Canada experience a brutally harsh, long, and cold winter? Actually, no. There are many different areas in Canada. You will find that you can find a home in that brutally cold, harsh, wintery location you have pictured in your head, but you can also find a home along a beach with mild summers and sunny days. You will be able to find a range of temperatures and climates all over Canada to better meet your needs. If that was a concern, you should consider visiting the homes you are considering purchasing to make sure that they are in locations that you will be able to handle as a new homeowner. On these visits, make sure to take to the neighbors and the community members. These people have lived in Canada for varying amounts of time- some of them have lived in Canada their entire lives. They will be the most knowledgeable on the location and the winters you are wondering about. So no, you do not have to love winter to live in Canada, but you certainly could.


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What You Are Looking for Close to Your New Home
Posted on Mon, 31 Oct 2016, 03:40:00 PM  in Home buying tips
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When shopping around for a new home, it is important for you to consider what amenities are around for you to enjoy. There are many different types of lifestyles that can benefit from all varieties of communities, and learning how to plan ahead can be one of the best ways for you to make a home purchase that you can be proud of. Keep some of these community factors in mind the next time you are in the market for a new home.

 

Public TransportationWhat You Are Looking for Close to Your New Home

This is perhaps one of the most important factors to consider when browsing around for a new home, especially if you commute to work or have kids that need to get to school on time. Take a look at local transportation sources, such as the airport, bus station and subway, and see how close your home is to it. Depending on the proximity, you can consider some home choices over others, especially if you have a busy household that needs to commute regularly.

 

Curb Appeal

Most homeowners pay close attention to the way the neighborhood looks when they go shopping, but for some, the right type of curb appeal can be paramount. If you have a lot of guests or plan on doing a lot of entertaining, you want to make sure that the neighborhood looks great. Take a look around the property and spend a little time familiarizing yourself with the sights and sounds. Being prepared and doing your research is the best way to get a feel for the surrounding area.

 

Gym Accessibility

If you regularly exercise and need to stay on top of gym locations, it is crucial for you to take a look at the surrounding gyms and exercise facilities before making your purchase. Think about what trails are in the area as well if you're a serious jogger. Ask around and take a look at local maps to see if there is something around you that would appeal to your needs. A quick search can be all you need to get results.

 

Pet Friendliness

This is particularly important if you are planning on working with condos or other rent-based purchases. Make sure that the neighborhood is pet friendly before you move in, especially if you have a larger pet, like a dog. There may be certain neighborhood laws that you need to stay on top of as well, so ask around before moving in. If having pets is important to you and the neighborhood does not approve, move on in your search.

 

Local Restaurants

This is important for those who order takeout frequently and enjoy eating out. What types of restaurants are around? Are there a lot of fine dining opportunities? Do you care that there are or are not? Analyze your own lifestyle and plan ahead for what type of dining you plan on doing. While you're at it, make sure that the grocery store is close enough as well. Looking at shopping opportunities and making sure that you are covered can be one of the most important parts of the home shopping experience. Never be caught unaware.

 

Schools

Finally, make sure that there are schools around the area for your kids, especially if you are moving during a crucial part of their development. Most schools will have your kids covered, but check in with them to make sure that you can transfer relatively quickly and easily. You want to make sure that your children can resume their studies as soon as you move. Look for schools based on your child's age group and be sure to take public transportation into consideration.


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Buying a Home? How to Find the Right Community
Posted on Tue, 30 Aug 2016, 11:25:00 AM  in Home buying tips,  Marketing strategies,  My services
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Are you thinking of buying a new home? If so, it is important to understand that the neighborhood that you choose can be just as important as the house that you buy. After all, you will likely be living in that neighborhood for many years to come. The last thing that you want is to buy in a neighborhood that is not a good fit for you or your family.

So, how can you find the right community? The key is to figure out what you're looking for, do research and find a neighborhood that meets your needs. Even if you have already found the perfect home, you should fully investigate the neighborhood before making an offer. Here are some things to think about when researching a neighborhood.

Do You Want to Live in the City or the Suburbs?

communityDeciding what type of setting that you prefer is one of the most important things to consider when buying a home. Do you love skyscrapers and cityscapes? Do you want to be able to walk to shops, restaurants and parks? If so, the city might be for you. One the other hand, if you are more at home living someplace quieter where you can take advantage of nature’s wonderful views then moving just outside of town might be ideal. Some folks prefer rural areas where there are no nearby neighbors.

What Type of Home Do You Want?

Would you prefer a single-family home or a condo? Typically, location is the deciding factor. If you want to be located in the middle of the city, you will likely find that condos are more plentiful. Typically, large single family homes are not as common in the city.

Is the Neighborhood Attractive?

Are residents maintaining their homes? Do the yards look like they are being kept up? If so, this is good news. An attractive neighborhood means that the residents care about it. A neighborhood that is attractive will help home prices in the area stay strong. On the other hand, lots of vacant homes or foreclosures in a neighborhood is a bad sign. They often become eyesores as they deteriorate from neglect. These properties can significantly diminish property values in a neighborhood. Be wary of any neighborhood that has a lot of these properties.

Do You Have Children?

If you have children, one of your priorities might be choosing a neighborhood in a good school system. Another factor for parents might be the number of nearby community centers, libraries, pools and parks.

What are Your Interests?

Do you like hiking, boating, and swimming? Many of today’s communities offer a number of amenities to support almost any interest or hobby. Do you want to be able to hike near your home? Maybe you are an avid tennis fan and want neighborhood courts. Whatever your interest, find out if your neighborhood has offers things that you are interested in.

Is the Neighborhood Safe?

Even a neighborhood that looks nice can have a crime problem. Often, a neighborhood’s crime statistics can be found online. Check out the local police department website to determine if they publish crime statistics information online. Do not forget to look up registered sex offenders in the area. You can get this information by searching the National Sex Offender Registry. This is especially important if you have young children. You do not want to purchase a home only to find out that a violent sex offender lives next door.


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Benefits of Lease to Own Homes
Posted on Fri, 15 Apr 2016, 09:00:00 AM  in Home buying tips,  Marketing strategies,  My services
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One of the hottest real estate trends sweeping the world today is something called lease to own packages. In the same way that rent to own stores let you make small payments to buy a product, lease to own homes let you make small payments to buy a home outright. The trend started during the worldwide recession as many buyers couldn't afford home loans, but the trend continued as buyers found it harder to qualify for home loans. Buying a home through a lease to own agreement has some big benefits that appeal to many buyers.

 

Smaller Down Payment

Saving money to make a down payment on a house may take you years or even more. Many lenders ask that you put down 10% or even 20% of the total purchase price as a down payment. You're also responsible for closing costs and other fees that add to the total amount you need to put down upfront. With a lease to own home, you generally make a smaller down payment. Some sellers require a down payment equivalent to three months of rent, which also covers your security deposit.

 

Fewer Monthly Payments

Banks offer mortgages that range in length from 10 years to 30 years. That leaves you making payments every month for 120 months or more. Sellers who uselease lease to own contracts often ask that you make payments for as little as six years. The amount you pay each month is equivalent to one month of rent, and the seller agrees to put that money into a special account. If you decide to buy the home once your lease expires, the seller will use that money and any additional money to pay off the house.

 

More Time to Save

With a traditional mortgage, you may find yourself scrimping and saving every month just to make your payment, which leaves you little savings for the future. A lease to own contract gives you more time to save. Once you reach the end of your lease, the seller gives you the option to buy the house outright or walk away from the sale. If you walk away from the sale, you can use your savings as a down payment on another property or rent another home. If you want to buy the house, you can use your savings to cover the final balloon payment and take over ownership of the home.

 

Freedom to Make Changes

When you rent a home, you must follow the rules in your rental agreement carefully. Most landlords forbid tenants from making any significant changes to the property. The landlord may not let you paint the walls inside, make repairs to the exterior or even plant new flowers outside. With most lease to own contracts, you have complete freedom to change the house because the seller expects you to finish buying the property later. You can replace bathroom fixtures, change the floors, paint the walls and even do landscaping outside.

 

No Bank Intervention

One of the biggest benefits of lease to own homes is that these properties do not go through the bank. Instead of applying for a home loan, you work directly with the seller to buy the house. Each payment that you make goes to the full purchase price of the home. You won't worry that the bank might foreclose if you miss a payment or that a late payment will affect your credit score. Buying a home on a lease to own or rent to own contract may appeal to you more and have more benefits than taking out a traditional mortgage does.


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