My Blog
rss feed
Search By Tag:  research
Why to Purchase a Home, Canadian Education System Similarity and Differences to the US System
Posted on Thu, 15 Mar 2018, 02:20:00 PM  in Home buying tips
Tags:,  ,    

The Canadian Education system is very similar to the US system. Students in Canada start school typically at age 5, and attend until age 18 at which point the students have entered grade 12. The province of Quebec has an exception to the grade K-12 system: students in Quebec finish a year earlier. Provinces are responsible for all forms of education, with the Canadian federal government only being responsible for the Royal Military College.

 

Plenty of Tertiary Options Abound Following Grade 12Why to Purchase a Home, Canadian Education System Similarity and Differences to the US System

Following grade 12, Canadian students have the option of attending post-secondary education. There are a wide range of schools, colleges, trade schools, universities, and graduate schools that students can choose from.

 

Large Investments In Tertiary Education Made By Canadian Government

Canada is known for making large investments into its tertiary education system. They spend roughly $20000 per student in tertiary education. As a result, Canada is also known for high levels of tertiary education among their students. Canada has a rate of 53% attainment of tertiary education which puts Canada at the top of the world for post-secondary attainment.

 

Plenty of Vocational Education Opportunities

Vocational education in Canada takes 2-3 years. Students pursuing a vocational path are able to take classes in beauty, business, culinary, fashion design, HVAC, health care, and various other areas. These vocational certificates can be very popular as a means of allowing young people to enter the workforce.

 

High Quality Universities

For those moving on to traditional universities, there are also plenty of high quality options as well. Approximately 16 of the 200 top universities in the world are Canadian. These universities have large endowments and are punching above their weight in their respective fields of influence.

 

Progressive in Advancement of Research

Canada is also known for being progressive in areas of advancing science and technology. Canada is also known for space research. In the days of the space shuttle, the robotic arm for the shuttle was the Canadarm which was made in Canada. Canada is also active in areas of medical, environmental, arctic, agricultural, communications, and defense research. The Canadian federal government has funded several small and large research institutions scattered throughout the country.

 

Fast Tracked Process For Foreign Students Becoming Permanent Residents

The Canadian government has also fast-tracked the process for foreign students looking to become permanent residents of Canada. Once foreign students become permanent residents, they are easily able to work for any employer and eventually acquire Canadian citizenship.

 

Consider Purchasing a Home In Canada

Many people choose to move to Canada for educational reasons because of the attractive environment that the country offers for prospective students. Students can choose from a wide range of universities and different options for courses of study. If you are planning to move to Canada for study, then you will likely want to purchase a home in the country first. In order to do so, you will need to locate a REALTOR® in your desired area first.

 


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
What You Need To Do To Sell Your Home Faster
Posted on Wed, 28 Feb 2018, 10:35:00 AM  in Home selling tips
Tags:,  ,  ,  ,    

What You Need To Do To Sell Your Home Faster

Canada continues to experience high demand for housing. However, some homes seem to stay on online property listings for long periods before the sale. Your house can sell in a month or even shorter period if the right marketing of the home is carried out. Others stay on listings for more than 90 days. Lowering the price might improve the attractiveness of the house and fasten the closing of the deal. Here are six things you should consider before listing your home for sale.

 

Do a thorough Property Market Research on Pricing

What You Need To Do To Sell Your Home FasterOne of the main reasons homes stay longer before is due to incorrect or high pricing. Check on significant property listings with similar houses to gauge the correct price of your home. Importantly, consult an experienced real estate agent who will guide on the appropriate value of the home. The agent can compare similar homes in the local area and come up with an attractive valuation of your home.

Despite upgrade and renovations to your house, inappropriate or too high pricing slows the selling of your home. Remember lowering the price below market rates will not guarantee the sale of the property. Ensure the pricing is the fair price for prospective buyers and is in line with other comparable homes in your locality.

 

Renovate and Upgrade your Home

In today’s property market, buyers are searching for ready houses which require minimal or no repairs and renovations. Fix the kitchen, upgrade the bathroom, replace broken windows, and paint walls in the house. Additionally, carry out repairs on doors; fix appliances, electrical and plumbing items in your home. Buyers will be impressed with the house which requires little funds for repairs. The buyers cannot afford to carry out renovations after paying large sums of cash to buy your house. Renovating your home not only improves the attractiveness, but quickens the sale of your house, but it also boosts the value of the home.

 

Professional Home Inspection

Another way to ensure your house sells faster is to invite professional to assess your home. You can ask designers, real estate agents, architects, and friends among others to inspect if there is any defect in your home that might derail the sale. Additionally, invite home buyers to carry out their evaluation of the home before closing the deal. The buyers will be interested in verifying that the house is in excellent condition and meets the needs of the buyer.

 

Utilize Social media to Advertise your Property

To shorten the listing period of your house on significant listings sites, you can showcase the photos and descriptions of your home on social media platforms such as Facebook. Advertise on real estate pages and join groups dealing with sale and purchase of properties. Social media has a massive following, and you are likely to reach out to a person interested in buying your house.

 

Relist your Home

In case your house has stayed on listings for a while consider removing from the market and listing the property afresh. Remove the listing after a month and wait for 1 or two weeks before posting again. A new listing ensures new and old real estate agents have a chance to check on property enhancing the prospects for sale of the home.

 

Offer to Cover some Costs

Offering to deal with some of the property costs is another attractive way to quicken the sale of your property. You can promise to pay part of the closing costs for the purchase of your property. Remember buyers and dealers are on the lookout for the best deals in the market.

In conclusion, offering best deals in the market, relisting your house, posting your house on social platforms, renovations, home inspections, and correct pricing will boost the fast sale of your house. Try the tips, and you will get an offer within a short period.


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
Kitchen Features to Consider When Buying a Home
Posted on Fri, 15 Dec 2017, 03:00:00 PM  in Home buying tips
Tags:,  ,    

When buying a new home, you'll want to make sure that the bedrooms have enough space for your family members, that the roof is in good shape and that the bathrooms have some modern features. Another room you should pay special attention to is the kitchen. This is the room where you will spend time making meals with and for your family and where your family members will gather together. No matter how many homes you look at, always make sure that you consider some key features in the kitchens of those homes.Kitchen Features to Consider When Buying a Home

Layout

The kitchen triangle refers to the layout used in most kitchens, which makes it more convenient for those working in the room to get tasks done. It typically puts the refrigerator, stove and sink an equal distance apart from each other. When you draw lines from each point, those lines form a triangle. This makes it easier for you to do prep work like cleaning fresh produce, but you will also have an easier time getting ingredients from your refrigerator and cooking with those ingredients on the stove.

Included Appliances

Those buying their first homes do not realize that many former owners will take their appliances with them. That is why you shouldn't fall in love with a home just because it has modern appliances made from stainless steel. If those appliances were gone, would you still love the kitchen just as much? Check with the listing agent to see which of those appliances come with the home. Some owners will leave behind one or more appliances but charge for each one. Compare the price charged to see if you can get similar or even better appliances for around the same amount or even less.

Fixtures

Fixtures can play a key role in the way a kitchen looks and how you feel about that space. You might find yourself drawn towards traditional fixtures with a finish in antique brass or oil-rubbed bronze. Others prefer more modern fixtures made from stainless steel with a chrome finish. Pay special attention to the faucet on the sink too. Kitchen sinks can come with a faucet that has a sprayer you can pull down or with a touch-less design. You'll find faucets that are tall enough for filling pots and some that come with a matching hot water tap that gives you instant access to boiling water or with a matching soap dispenser.

Overall Space

If you love cooking at home and whipping up new dishes for your family to try, you may want a kitchen with more overall space. A small kitchen may make it hard for two people to work at the same time. Also look at the amount of prep space available. Some kitchens have just one set of cabinets with a small amount of counter space. Prepping will require the use of a new island or a table that will take up more space in the room.

Storage Options

Check the kitchen to see if it offers all the storage space and options that you need too. The more cabinets the room has, the more space you will have for your cookware, dishes and ingredients. If you need even more space, you might look for kitchens that come with a pantry off to one side. A pantry provides space for canned goods and other ingredients as well as your cleaning supplies and heavier pots and pans. When you find a home with a good kitchen that meets all your needs, you'll love cooking in that home after you buy it.


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
Deciding if Home Refinancing is Right for You
Wednesday, 30 August 2017, 09:20:00 AM
Tags:,  ,  ,  ,    

Buying a home in the first place is a major decision for any family. A given home can cost six-figures on average. Once the financing is in place, you're presumably happy with this payment for many years. However, changes in the marketplace make it tempting to refinance the loan after a decade or more. Refinancing isn't right for every property, but it's an option that should be explored before you make any permanent changes. Get to know the situations where refinancing is either good or bad so that you can make an educated decision.

 

Nearing the Mortgage's Final Payment Date

Your current mortgage is nearly paid off with only a few more months to go. In this situation, refinancing is the worst choice to make. You'll add extra costs to theright home for you loan while lengthening out its terms. The amortization process also starts the loan off again with paying mostly interest. Your ideal decision in this case is to finish paying off the original mortgage. Owning the property free and clear is an achievement that shouldn't be postponed. You can tap into the home's equity with a line of credit if extra funds are necessary now or later.

 

Exploring Lower Interest Rates

Homeowners with a fixed interest rate may have locked in their value at a higher point in the past. Current rates are now one or two points lower than your mortgage. Refinancing to drop the interest rate downward is a common reason to seek out this service. It's possible to change the monthly payment by several hundred dollars. For this reason alone, it's valuable to explore a refinance. Be honest about your credit so that you can receive the lowest rate possible.

 

Investing Back Into the Property

Refinancing is almost always a right choice when you're investing back into the home. You might pull several thousand dollars out of the home's equity in order to add an addition, remodel the kitchen or paint the exterior. Improvements to the property will only add value to it if you ever decide to sell. Your bank will often approve of certain withdrawals that might be declined otherwise. Investing in the home benefits you and the lender so make your intentions known during the application process.

 

Understanding Closing-Cost Calculations

Be aware that closing costs can negate the value of refinancing the home in the first place. These costs cover the paperwork fees and appraisal processes that must occur before loans can be transferred and repackaged. You might pay down the interest rate through points too, which can lead to thousands of dollars of extra costs. Carefully examine the costs associated with your home loan. If you have too many charges to make the refinance a bargain, you may want to keep your original loan.

 

Paying off Other Debt

You might have a lot of equity in your home, and credit-card bills are growing larger by the day. Consolidating debt is another way to approach home refinancing. Ideally, using your home to pay off unsecured debt isn't a financially sound idea. If you have a small balance, paying the card off may not be too detrimental to your financial livelihood. In most cases, you want to maintain as much equity in the home so that your loan amount isn't too inflated.

Refinancing any loan is serious business. Ask for several quotes from various lenders who have good reputations in the marketplace. Their quotes should be relatively similar as they offer their best plan. Select a lender that offers you a fair deal in the end. You'll be working with them for many years to come.


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
If You Didn’t Ask Your Sales Representative These Questions, Then You May Be In Trouble
Sunday, 30 July 2017, 11:20:00 AM
Tags:,  ,  ,  ,    

Buying and selling houses in Canada can be a rough and tough business to get into. Sometimes your sales representatives may be moving too quickly for you to understand. Maybe they skip over information that they assume that you already know to avoid boring you or bogging you down with the small details. Maybe they really are trying to do as little as possible in order to get the job done. You may know which of the scenarios you fall under if you have failed to ask your sales representative the following questions. Don’t get yourself into trouble that you could have avoided.ask your rep

 

What Are Your Strengths?

Everybody on Earth has their strengths and their weaknesses. That is why we have different personalities, enjoy different hobbies and items, and work at completely different jobs from one another. Your sales representative will also have strengths that will help them to buy or sell your house. This is your opportunity to ask them what they have to offer and why you should hire them to represent you during your unique process.

 

What Experience Do You Have?

Sales representatives can range from having just a small amount of experience to having decades of experience buying and selling homes for people just like you. This may bother you, but it may not bother you either. This really depends on you, your unique situation, and what you are really looking for in a sales representative. In any case, you should know what sort of experience they have and for how long they have been buying and selling houses professionally.

 

Are Your Fees Negotiable?

Any great sales representative will understand that not every sale works itself out perfectly as outlined in a textbook. There are sellers that decide that they really do not want to sell their home, buyers that find last minute offers for other homes that they’d rather live in, and professionals that drop communication at various times throughout the process. For these reasons and more your sales representative should make their fees negotiable in certain situations. If they are not willing to work with you, then you may want to look for an agent that will.

 

Are You Willing To Communicate With Me Often?

Going along with the point made above, you are going to want to make sure that your sales representative is open and willing to communicate with you as often as you feel comfortable with. This shouldn’t matter whether or not you call in on a regular basis for updates or whether you specifically ask them to notify you only when there is a significant update to share with you.

 

Will You Walk Me Through The Process Step By Step?

This is your opportunity to build a relationship with your sales representative. You get the information that you need and your sales representative will get the opportunity to impress you with their skills and knowledge.

 

What Should I Know That I May Not Already Know?

This is your sales representative’s opportunity to give you any information that they feel you need to have before signing contracts and starting a process that could change your life. If they say that there is absolutely nothing that they have that they can share with you, then you must decide whether or not they are being truthful or if they are trying to hide something from you.


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
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
Tags:,  ,  ,    

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.

 


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
Choosing A Sales Representative To Meet Your Needs
Posted on Sat, 15 Apr 2017, 01:15:00 PM  in My services
Tags:,  ,    

Are you thinking of buying or selling a house in Canada. It can be a tricky process to go through if you have to do it all on your own. That is why most professionals will recommend that you hire a Sales representative to meet your needs. There are plenty of them around, so do not feel bad about passing a few up if they just don’t feel right to you.

Here are a few things to keep in mind when choosing a sales representative to meet your needs:

 Choosing A Sales Representative To Meet Your Needs

You Have To Trust Them

If you are hiring a sales representative to buy or sell a house for you in today’s market, then it is imperative that you trust them completely. You are literally handing your rights to this person and asking them to make deals that will have a significant impact on you, your family, and anyone else that is involved. If you feel like they are not telling you the truth then you need to move on to an representative that you feel will be completely honest with you. If you feel like your representative just isn’t doing all that they can to help you, then you and your loved ones deserve to move on until you can find a representative that will do just that. You never have to settle for a representative that doesn’t meet your needs and that cannot be trusted. There are plenty out there that will listen to you and earn your trust in all of the ways that you need them to.

 

Don’t Be Afraid To Investigate

You have every right to ask your sales representative about their qualifications, certifications, licenses, and experiences. These professionals should be happy to tell you all about the wonderful things that they have accomplished for families just like yours. Do not be afraid to ask for proof as these representatives should be treating the first meeting or two like an interview. They should have resumes, profiles, and experiences all mapped out for you to view while you are getting to know them. You may also do a bit of research online to find out if they have a valid license that is currently in good standing. You have every right to find out who you will be handing your information to.

 

If You Are Selling, Ask For Their Opinions

If you are selling a house, then you will likely need their opinion on how to do certain things within the house. You are going to want to ask them such things as how much your house is worth, and what you can do to ensure that your house sells quickly. You are going to want to ask them what factors of your house diminish or take away from the price you would like to get for your home. You may even ask what about your house is unique and how to play up the features of your house that you would like to showcase.

 

Ask About Paperwork Upfront

You never want to find yourself in a situation where your sales representative is constantly giving you paperwork to sign that you had no idea existed. A crucial part to getting to know your representative is asking them about paperwork upfront. If these agents are willing to work with you, then they will not be afraid to let you know about all of the signatures that you’re going to have to provide during this process.


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
Tips for Flipping a House
Posted on Tue, 28 Feb 2017, 10:10:00 AM  in Home selling tips
Tags:,  ,    

House flipping can be one of the best ways for you to make an advantageous purchase and sell it for a large profit in the future. Like many other investments, however, it is important for individuals to plan ahead accordingly and work with local market conditions to get the most out of their next big sale. If you are interested in pursuing a career in house flipping, it is strongly recommended for you to follow some of these tips and see what a difference they can make in your career. The tips can be particularly helpful for those just entering the industry.

 Tips for Flipping a House

Always Stick to a Budget

One of the most important things that all home flippers should remember is the meaning of ARV. The term stands for After Repair Value, and it is identified as the amount of money that the property is going to sell for after it has been repaired and dressed up. One of the most important rules of thumb to remember is to never be in the process of repairing the property for more than 70 percent of the home's ARV. Calculations needs to be made carefully and accurately to make sure that you can maximize your profits without having to worry about potential pricing issues in the future.

 

Know the Local Market

Another important thing to remember is that each housing market is different. What one home may go for in one state or region may drastically change in another. Knowing what to expect can allow you to prepare accordingly and invest in the appropriate tools to get the job done. If there is a niche for the property, it is a good idea to learn more about it and determine how you can benefit in the future. Always try to stay one step ahead of the curve in terms of market prices and trends, and try to know what factors can make a deal better.

 

Know the Buyers

In addition to learning as much as you can about the market, it is crucial for you to learn as much as you can about the buyers as well. Once the numbers have been figured out, it becomes a matching game for potential shoppers. Not all home buyers are the same, but knowing what to expect along different price ranges can be just what you need to prepare yourself for open houses and staging days. Learn as much as you can about the audience and try to think about the local neighborhood in terms of amenity advantages.

 

Show Your Work Off

Be proud of the work that you put into the property. You had to work through all types of issues to make that unique property stand out on its own. When it is time to set up a showing day or prepare the staging for the sale itself, it is important for you to make it look like you take pride in the work that you do. Not only is this a necessary strategy to draw attention, but it can also be one of the best ways for you to build your personal credibility.

 

Do Not Get Greedy

Try your hardest to avoid overvaluing the home as well. Speak with your customers and try to get a feel for the market as best as you can before you make the final adjustments to the price. Though every market is different, there are always trends to watch out for that can help define the work that you do. When in doubt, consult with other agents and see what they may think about the property's final value.


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
A New Home Versus an Older Home: Drawbacks and Benefits
Posted on Wed, 15 Feb 2017, 10:05:00 AM  in Home buying tips
Tags:,    

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.


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
What You Should Know About Restrictive Covenants
Posted on Tue, 31 Jan 2017, 10:05:00 AM  in Home buying tips
Tags:,  ,    

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.


How May I Contact You?

Please ask me your question by filling out this form. You will receive an answer to your question at the first opportunity I have to reply. I appreciate the time you have taken.

 

 


Thank you for taking the time to complete this questionnaire.
I will be in touch with you.

       comment on this
adminlistingsprivacy policycontactsite map
RE/MAX Metro - City Realty, independently owned & operated
MLS®, REALTOR® and the associated logos are trademarks of The Canadian Real Estate Association
Copyright © 2002-2018. All rights reserved.
Real Estate Website Design by Lone Wolf Technologies.
Lone Wolf Technologies