Home Buying Blogs – Fort McMurray

Home buying advice for Fort McMurray, Alberta residents.

There are currently 22 blog entries related to this category.

Everything You Need to Know About Mortgages and Interest RatesIf you're a home buyer planning to get a mortgage, you probably know that your interest rate will have a big impact on your monthly mortgage payment. Knowing how important interest rates are, you may have questions about how they work and what you can do to reduce the amount of money you spend on interest. If you're thinking about buying a home soon, here's what you need to know about mortgage interest.

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

What Is Interest?

Interest is an additional cost added to the repayment of any mortgage. It's calculated as a percentage of the principle balance. Interest rates are related to market rates; as the market

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Buying a Home? What You Should Know About Debt-to-Income Ratio
Buying a Home? What You Should Know About Debt-to-Income Ratio
If you have a lot of debt, you could have a hard time paying your bills. This is why mortgage lenders pay attention to debt-to-income ratio. Understanding what the debt-to-income ratio is and how it affects your ability to get a mortgage can help you prepare for the mortgage application process.

By checking your debt-to-income ratio before applying for a mortgage, you may be able to identify potential problems and resolve them prior to filling out a mortgage application. If you're thinking about buying a home soon, find out what your DTI is. If your DTI is too high, you would be best off lowering it. Here's what you need to know about DTI and how it affects you.

For informational purposes only. Always consult with a licensed mortgage professional

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The Architecture Styles Home Buyers Should KnowBuying a home starts with asking some rather basic questions about what type of property will best the lifestyle of the people living in. Part of this equation is considering how an architectural style will influence how each person interacts with the home. The following tips can help home buyers streamline their open house experience because they can eliminate certain styles before they even get started. Learn more about how buyers can keep a fresh eye and clear perspective for every home they see.

Traditional

Starting with the more obvious of choices, traditional homes are typically two stories and have a symmetrical quality to them. They're popular because they were constructed to be as beautiful and sustainable as a more expensive home

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All About Buying Land for the First TimeBuying land seems like it should be simple, but there's more to it than you might think - it is not like buying a new home. Knowing what your priorities are, getting an inspection, and checking out the neighborhood can help you pick the right lot for your needs. Here's what you need to know.

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

Make a List of Must-Haves

Before looking at lots, home buyers must know what their priorities are for their new home. Lot size, layout, location and other features will all impact what kind of home the buyer is able to construct. Thinking through the must-haves before getting started with the home search will help the

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Modern Home Technologies and Materials for Home OwnersModern homes are more efficient and functional than ever. New building technologies come out all the time to save homeowners money and reduce their dependence on fossil fuels. If you're thinking about building a home in the next few years, here's what you need to know about building materials that can help.

Solar Thermal Cladding

A home's cladding is its siding, which usually takes the form of a traditional material like brick, wood or vinyl. Solar cladding is designed to look very much like traditional siding while it absorbs energy from the sun. Solar cladding can be used to heat the home's interior, and the home's plumbing as well. Solar thermal cladding is the perfect product to accompany solar panels on the roof of a home.

Some

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What You Should Know About Green Construction TechnologyThe construction industry isn't often associated with the green movement, largely because it's continued relying on traditional building methods long after the craze hit its peak. However, this stereotype is being challenged by start-ups and tech companies who see a niche market they can capitalize on. Luckily, developers, construction companies, and buyers alike are all starting to come around to more sustainable building methods. New home buyers often make a decision based on sustainable building materials and techniques. Learn more about which trends are starting to gain traction in the Canadian housing market.

Using the Earth's Core

The Earth's core is a stable temperature no matter how hot or cold it happens to be on its surface. Canadians

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All About Millennial Home BuyersThere are a lot of rumours surrounding Millennial home buyers. Some of these rumours say that Millennials don't want to buy homes and can't ever afford to anyway. The truth of the matter is that many Millennials are entering the real estate market and many more are considering entering in the near future. If you're a Millennial who is thinking about buying a home someday, here's what you need to know.

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

1. Millennials Can Afford to Buy a Home

Buying a new home does take careful budgeting and some saving. A typical down payment on a house is 5%, or larger for a house over $500,000. Many home buyers start

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The Basics of Credit Scores and Getting a MortgageBuying a home demands a reliable income, a fairly large down payment, and a decent credit score. Since improving a person's credit can take months or years, this may be the first place prospective home buyers want to start. Credit scores affect the types of loans people can get, as well as the interest rate. In turn, this alters how much borrowers can qualify to receive. This information shows how a buyer's credit score determines how they buy a home, and what they can do to improve it.

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

Credit Score Fundamentals

Credit scores range from 300-900, with higher scores indicating a better credit rating. Canada

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4 Steps To Choosing the Right AgentWhether buying a new home or selling an old one, everyone should hire a real estate agent before doing either. However, many buyers and sellers think that all real estate agents are more or less the same, but this just isn't so. All real estate agents are different, and not every buyer and seller will mesh well with every agent, so it’s important for them to know what to look for in an agent. Here are some useful things to do when looking for an agent.

Read Reviews From Past Clients

Just about every real estate agent will try to showcase reviews from their past clients, and in addition, if an agent doesn’t make reviews accessible, it can mean that they’re either very new to the profession or that they don’t get very good feedback from their

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The Facts About Home InsuranceHome insurance is a requirement for most homeowners that can feel very much like an afterthought at the end of a home buying process. When a buyer has been so overwhelmed with everything from the down payment to the closing costs, the last thing they want to do is go through a complicated policy with a fine-toothed comb. However, home insurance is a serious purchase that buyers may want to understand more before they choose a particular level of coverage.

For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.

The Premium

A home insurance company is going to look at the risk factors of the home before they decide how much to charge each client. They'll look at how many

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