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------------ FIRST-TIME HOMEBUYER REPORTS --------- Also see my website dedicated to First Time Home Buyers www.LoveYourFirstHome.com
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Thinking About Buying Your First Home?
One of the first things you need to consider when thinking about buying a home is "how much can I/we afford? Experienced buyers can skip this one. This report talks about the cost side of buying a home. How much can you afford, is the question considered here. Word doc., 2 pages.
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New tax credits for first time home buyers and homeowners
1/28/09 New Federal Budget. See how you can get money back from the Federal Government for home, condo or cottage reno from $1,000 to $10,000 at 15% (max of $1,350) and additional credits for First Time Home Buyers. Effective January 27, 2009. Some limitations. PDF, 1 pg
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Help Yourself to the Secret $$$$
There is a great opportunity for first time buyers to cash in on a little known secret about the Canadian Government Home Buyer's Plan. Learn how you may qualify for up to $11,500 in as little as 3 months. Twice this for couples. This report shows you the simple steps to take to get your money. A must read for all first time home buyers. Updated to reflect new budget changes as of Feb, 2009. Word, 3pgs.
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Home Buyer Plan (HBP) - Revenue Canada Details
Here is the detailed version of the Home Buyer Plan from Revenue Canada. See my simplified version (Secret $$$ above). Note that you can be eligible even if your spouse is not. And if you or your spouse lived together and either of you owned a house during that time (back 5 years) - you are both NOT eligible. What your spouse owned BEFORE you were a couple does not impact you but may make him/her ineligible. If this is confusing - talk to me. This plan does NOT reflect the latest tax changes, e.g.; the guide still refers to $20,000 as the limit but is the best available info until the government updates this guide. The new maximum per person is now $25,000. The rules and limitations have not changed so it is worth a read. PDF, 16 pgs.
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Buy vs Rent - How Much Can Your Save?
My report shows very clearly when it pays to own a house and when it does not pay to own. The report compares renting at $1000 per month with home or condo purchase of $200,000 and $300,000 under different market conditions. The tool used to calculate these results is available on my website - See Mortgage Calculator - Buy vs Rent. PDF, 5 pgs.
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Pre-Qualifying for your Mortgage and Locking In Your Rate
This is a critical first step in buying your new home. Read this report to understand the importance and the process of doing this earlier rather than later. The report explains the big difference between getting "pre-qualified" and getting "pre-approved". Word doc, 3 pages.
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Mortgage Calculation Chart
Find out how big a mortgage you qualify for by using this handy chart. It shows the maximum mortgage you could get given your Gross Salary and the Interest Rate of the loan. If you want to calculate this for yourself, use the mortgage calculator found on this website. Word doc. 1 page.
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Mortgage Eliminator Plan
Learn how you can save $70,000 or more on a $200,000 mortgage and pay it off in fewer than 11 years or over 14 years sooner! It's simple - once you know how. You can thank me later when you are mortgage free! Word doc., 2 pages
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Working with a Realtor - The Agency Relationship
What is Seller Agency, Buyer Agency and Dual Agency? Why should you care is explained. For example; Did you know that a Buyer Agent works for the Buyer and yet is paid by the Seller (but not always)? Be better informed about what duties are owed to you by your Realtor. Word doc., 2 pages.
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Educated Buyers - They seek homes near high quality schools
Learn how school quality has become a top criteria for educated home buyers and why you should care too, even if you have no school-aged children. Re-sale value can be impacted by 25-30%! Word, 2 pages.
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Condominium Buyers' Guide (also see my online guide on this website)
So you decided to buy a condo .... This is a handy guide developed by CMHC (Central Mortgage and Housing Corporation) that explains the basics and provides checklists to make your search and selection easier. Contact an experienced Condo-savvy real estate agent to help you well in advance of visiting any condos for good pre-shopping advice that will save you time and money. See my "Toronto Condo Guide" page on this site. Pdf format, 42 pages.
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Buying Steps - From Deposit to Celebration Day
Okay, the offer to purchase is firm (no conditions remain) and your deposit is being held in Trust until Closing (Celebration Day). What happens just before, during and after Closing is explained with guidelines and tips to help you prepare properly. You need to have certain documents in hand and sufficient monies available for this big day. Read all about it here. Word doc. , 3 pages.
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11 Mistakes to Avoid when Purchasing Your Home
This is a MUST READ for first time buyers!
Contains important tips that will save you thousands of dollars and make your home buying a pleasure! Word doc., 9 pages
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Homebuying Step by Step
A handy, well-written consumer guide and workbook by CMHC that explains and illustrate with examples the steps to buying a home and provides checklists. Contact an experienced real estate agent to help you well in advance of visiting any open houses for good pre-shopping advice that will save you time and money. Pdf format, 66 pages.
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Home Buyer Checklist
A 2-page checklist of home features to help you shop for your home. Tip: bring a camera but ask your agent to get permission to take pictures. Word doc., 2 pages.
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Procrastination Could Cost You
Why you should not wait to get into the Real Estate market right now is explained. Is there a "Bubble" that could burst just after you decide to buy? Answers to these and other related concerns can be found in this excellent article that looks at North America real estate factors as well as the specific Toronto market. Bottom line: Hesitatation now can cost you a lot of money. Word Doc, 3 pgs
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Here's the Scoop on Multiple Offers
Be in the know about these all too common buyer situations. The more you know the better prepared you will be to WIN and get that home you really wanted. PowerPoit Presentation, 13 slides.
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Home Buyer Closing Costs Worksheet
Best to be prepared and budget for these one-time closing costs. They can typically amount to an additional 1-3% of the purchase price of the home. This handy worksheet allows you to determine your costs. Includes revisions to account for the new Toronto Land Transfer Tax. This one page report focuses on resale home purchase closing costs only. For a more complete picture of the costs (for both buying and selling) see my "Financial Worksheet Calculator" in the Buyer section of this website. Suggest you request the three reports that are listed below and print them out. PDF 1 page.
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Ownership Utility Costs - An Example
If you have never owned a home, you likely have little ide of the costs of your utilities involved(water, heat, sewage, electricity/hydro, etc). I do not want my clients being unpleasantly surprised about the cost of home ownership. This handy one-page report itemizes the utility costs of a home as an example. Your costs will no doubt vary but it may at least make you aware of some items you need to budget for. Suggest you request and print out the report "Guidelines for Financial Worksheet" and then you use my new "Financial Worksheet Calculator" under Home Buyers section of this website. PDF, 1 page
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Guidelines for Financial Worksheet
Step-by-Step explanation of the items used in the "Financial Worksheet Calculator" available on this website in the Buyer section. PDF, 5 pages.
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30+ Year Mortgages Have Arrived
January 9, 2008 - Learn the "ins & outs" of spreading your mortgage payments over more years rather then the usual 20-25 years. Word Doc, 2 pgs.
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Land Transfer Tax - Example
Buyers pay this tax at time of closing and it is usually one of the biggest costs involved in the sale after the mortgage of course. Expect to pay in excess of $2,200 on a house purchased for $250,000 for example (and twice this if you buy in the city of Toronto). First-time buyers of NEW and as of Dec 13th, 2007 (RESALE) homes get a break with a $2,000 provincial rebate and $3,725 Toronto rebate, subject to conditions. See how they are calculated so you can budget for this cost. PDF, 1 pg.
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HEADING
----------------- SEASONED HOMEBUYER REPORTS --------
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House Prices to Grow at 4% Annually for next 25 Years
What's New?
Home Price Trend Good Canadian house prices to Grow at 4% Annually over next 25 Years TD Financial Group Report - sees long range 25 year trend as positive for buying into Canadian home ownership. Also go to my Market Watch page for lots more info about the GTA market and beyond.
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Here's the Scoop on Multiple Offers
Be in the know about these all too common buyer situations. The more you know the better prepared you will be to WIN and get that home you really wanted. PowerPoit Presentation, 13 slides.
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Six Simple Steps To Ensure a Smooth Home Purchase
Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible. This report provides six simple but important steps to guide you. Word doc, 3 pages.
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How Much Do Seller's Have to Tell Buyers about "Defects" ?
Do Sellers legally have to reveal all property defects to potential buyers? I have been asked this question so many times that I am pleased that I have finally found a good article that answers this question well. The answer may surprise you. Better to know the answers before you get taken to court. Sellers should read this too. PDF, 4 pages.
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What the Heck is Title Insurance?
Protect yourself against Title Fraud. Also known as Mortgage Fraud. Don't let someone take your home away from you. Do you want to pay someone else's mortgage? More and more people are doing that because they did not pay $325 (one-time fee) or less to protect themselves against this latest crime wave victimizing home owners. Word Doc, 2 pgs.
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The Three Big Myths About Title Insurance
If you are thinking of buying a property or are a current owner, you should read about the three big myths before you become a victim. PDF, 2 pgs.
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Evaluating Property
In the real estate industry, the determination of value is complex. The value of a house (or condo, or co-op, or townhouse) fluctuates often, based on many factors, such as an ever-changing market conditions, the condition of the home, and the costs associated with owning it. Find out more about these important factors in this report. Word Doc, 1 page
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Negotiating Guidelines
Some sage advice on how to approach the negotiating steps of the real estate transaction. A good agent will know all this and much more as this is where you separate the average agent from the top-level agent and where you can make or lose money at a blink of an eye in the final stages of selling or buying your home. Word doc. 1 page.
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Comparison Shopping for Energy
Homeowners have a choice to make when they shop for their gas and electricity these days: fixed or variable rates (just like mortgages). It is not always clear what is the best choice - this reports helps you make a sensible choice that suits your risk taking profile. PDF, 10 pgs. Nov, 2007
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Home Prices Slipping
Prices are slipping in some parts of Canada but so far Toronto and GTA are only experiencing a slow down not a retreat in price growth.
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Moving Checklist
A complete and helpful Checklist to help make your next MOVE a big success. Don''t make a MOVE without it! For your own sake, read this well in advance (3 months) before you plan to move. Many tips to save you time and money. Please feel free to share it with your friends and family, they will thank you for the kindness. Word Doc - 7 pages.
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Watch Out for Those Tax Rates - 2008
This report compares tax rates for 2008 for 32 major cities in and around Toronto. A comparison is made to the Toronto Rate for 2008. It may be a surprise to learn that Toronto has the lowest tax rates of all compared and that the range is from 3-200% higher in the other areas of the GTA. PDF, 1pg
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What's Hot - What's Not in GTA - Exclusive Report (replaced)
This report has been replaced with a newer version (Nov 07-Nov 08) - see Investor's Reports on this website. Link above.
Shows where different styles of homes (detached, semi, town and condo apt) are growing or declining in price (and by how much, based on solds in the Toronto Real Estate Board Market Watch Reports for May, 2008 - May, 2007. Pdf, 5 pgs.
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York Region - Summary of Sweet Spots by Area
This report shows the "Sweet Spots" by Area for both Public and Catholic schools. Areas are cities or sub-regions within York Region (Richmond Hill, Markham, Newmarket, etc. There are 11 areas. Sweet Spots are aften rare combinations of elementary and secondary schools BOTH of high quality serving the same area. Areas are ranked by best to worse. PDF, 1pg.
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