16 Dec

Single Ladies buying a home

General

Posted by: Tammy O'Callaghan

Single Ladies Buying Homes

 
All the single ladies, all the single ladies…. put your hands up! 
Take it two a single lady who have bought homes on our own.  It is both scary and empowering.  You need an expert on your side.
 
It’s becoming increasingly apparent that a greater number of women are now taking the reigns when it comes to home purchases. There’s a growing trend among single women – and, more precisely, professional single women – who are becoming independent homeowners. While many of them may be putting off marriage, they’re not waiting around for Mr Right before taking the plunge into homeownership.
 
It’s believed that around 20% of homebuyers in North America are single women based on a 2011 report released by the US National Association of Realtors. Harvard University’s Joint Center for Housing Studies also released a report that said single women are buying in record numbers.
 
There’s no equivalent data for Canada, but an abundance of anecdotal information has led to the creation of shows like HGTV’s Buy Herself, which follows single women making their first real estate purchases.
Women are looking for ways to become financially independent, and investing in real estate and building equity for themselves are ways to invest in their future –building financial security.
 
Women are taking advantage of historically low interest rates and recognizing homeownership is often more affordable than renting.
 
Seeking expert advice
One of the amazing things about women looking to invest in real estate is that they’re getting more advice before they make the decision to enter the market. They’re seeking out mortgageexperts and real estate agents, and building a plan for the perfect entry into the market. They’re making lists of areas in which they’re interested in purchasing, itemizing amenities they would need in their ideal neighbourhoods, ensuring they have all the facts around closing costs and fees associated with making the purchase, and securing a mortgage.
 
Buying a home is likely one of the largest purchases you’ll ever make in your lifetime, and can feel overwhelming. That’s why working with a professional mortgage agent, real estate agent, home inspector and so on is essential. You’ll be working with these professionals closely – possibly for months – so interactions should feel comfortable, and they should be knowledgeable and responsive even to the smallest question.
 
The more prepared you are, the smoother the experience will be so do a little research on your own over the Internet to get a good idea of what types of properties and areas are of interest to you. Make a list of questions to ask your mortgage agent or realtor – and keep it on hand so you can add to it as more questions arise.
 
Interest rates are the lowest they’ve been in history and they have nowhere to go but up. Industry professionals believe that as rates begin to rise, they’ll continue to rise for some time. There has never been a better time for women to make the decision to get into the real estate market to find the perfect place to call home.
 
 
You don’t need to do it alone! Call Tammy and Carie today, experts in the mortgage field and women who have done it themselves 1-888-755-1126
5 Dec

Purchase plus improvement

General

Posted by: Tammy O'Callaghan

What does a mortgage broker do?

Learn more about mortgage brokers and how they can help you. Mortgage brokers with Harmony Mortgage group part of Dominion Lending Centers will help you find the best lending options and rates available at no cost to you ! Harmonymortgage.ca

 
 
 
 
 
 
 
 

Buy a lived in house, and still get to pick your specifics??  Is that possible??

 

Wouldn’t you love to buy an older home but be able to pick your own kitchen and fixtures and even the paint color on the walls???  Buying new is great because you get to pick your own colors and specifics.   But we know a way that you could save the cost of buying new and still have the option to make it what you want……..  It’s called Purchase plus improvements and it is quickly becoming an option to help clients get exactly what they want out of a used property.
How can purchase plus improvements help you?  Whether you are buying a home for yourself, as an investment, or you are a realtor and are looking for creative ways to help sell that property.  The Purchase plus improvements program can help.  It is often overlooked as an option, however if you are a buyer or a realtor this is a tool you can add to your belt.
Many people are able to look past the visible eye sores and see a final product that will be a worthy investment.  How it works is as simple as it’s title.  You are buying the home and mortgaging the improvements in with the purchase price.
It is as simple as getting estimates for what you would like to do, submitting to the lender for review then once the improvements are complete you receive a cheque from the notary in the amount of the improvements.  Some lenders will even allow you to do the improvements yourself and receive the estimated $$$ for the improvements.  This can be a significant benefit for someone in the industry or simply someone who is handy on the reno scene.
This is not for everyone when doing a large scale reno however some lenders allow what’s called sweat equity, or “paying yourself to do the work”.  This could help those of you who are motivated and trained to do some or all of the work yourself.  And in turn helping to pay the cost of the improvements. 
We are here to help you find solutions like these to either help sell your current home or to make the home you are interested in but just needs some tweaking exactly what you want.

 
Tammy O’Callaghan
Carie Pool