Behind the Scenes of a Real Estate Transaction
Buying a home is likely the largest financial transaction you’ll make in your entire life. It seems like it should be a personal decision for that reason. However, a decision this big requires many people to make it happen; probably more than you realize if you’re a first-time buyer. Here’s who you’ll want on your team before making the largest purchase of your life. Real Estate Agent An agent is there to guide you through the whole process, and will be the person who not only scouts listing for you and shows you homes, but finds you properties within your budget that fit your requirements in terms of location, size and layout. They aim to give you your dream home, but will quickly clue you into factors like budget that might mean making some compromises. Mortgage Broker A broker is the person who can shop for the best possible mortgage for you. This will not only save you time from doing it yourself, but also protect your credit score since they can request it once and have permanent access without having to resubmit the request. Since the broker is paid for by the lender, they come at no extra cost to you. Insurance Broker Since your home is such a large financial investment, it’s only sane to protect it. An insurance broker will find you the best possible insurance policy to protect your new home, while providing you with the details of the various levels of coverage, from basic to comprehensive. Land Surveyor While many skip this member of the team, it’s a very wise idea to have a land survey done as it’s one of the most valuable items in any real estate transaction. It protects you from any future land disputes with the city or new neighbours by officially confirming the boundaries of your property in writing. Real Estate Lawyer This is the person who will, at the end of the day, hand over your new set of keys to you. Your lawyer will ensure you’re getting a fair deal and that everything is set in stone. They will confirm there are no issues with the property that you might inherit by searching for liens, conducting the title search, reviewing the purchase agreement and calculating land transfer taxes.
6 Home Repairs You Can Do Yourself
There aren’t many Canadians who don’t like to save a buck here and there. When it comes to repairing certain things in your home that need some tweaking, you don’t always need to pick up the phone to call a handyman. You might be surprised at how many repairs you can actually do yourself. When it comes to the big repairs like major plumbing or electrical fixes, leave those up to the pros. But here are a few things you may want to do yourself: Tackling the toilet. Replacing a toilet isn’t all that difficult. In fact, if you follow the directions, it can be quite simple. Just remember to measure before you buy and follow installation directions exactly. Most households already have the necessary tools with which you can do the job. Hardwood floors seen better days? Refinishing wood floors yourself will save you a lot of cash, but it’s not the easiest task. You can rent a sander at your local hardwood store, along with the stain and sealant. It will take some time and effort to get the job done though. Make sure you educate yourself before taking this task on, or you may risk ruining your floors. Sweeten up a smelly dishwasher. If your dishwasher smells like rotting fish after you’ve run it through a cycle, it most likely needs a deep cleaning. Start by cleaning the dishwasher screen at the bottom of the tub to get rid of all that yucky bacteria feeding on trapped food. Then, clean the gunk from the sprayer arm, the bottom edge of the door and the metal lip below the door. Once that’s done, run the machine with detergent and disinfectant on full cycle. It should smell as good as new. Unstick stuck drawers. This fix is as simple as buying a bar of paraffin wax. Rub the wax along the wooden drawer slides and any other areas of friction on the drawer. The drawer will slide right into place once it has been given a wax over. Wobble no more. Since Canada no longer issues pennies, you probably have a bag full of them sitting and collecting dust somewhere in your home. Put some of those to use when fixing wobbly table or chair legs. Simply add a drop of hot glue to the penny (or any other coin) and affix it to the problem area. The coin levels out the surface like a shim. Car wax in the kitchen? If your kitchen is like most in Canadian households, you have stainless steel appliances, which can be brutal to keep marks off. It’s an easy fix with car wax. Instead of using a surface cleaner to clean your appliances, use the wax. A little bit of buffing with wax will help the appliances to resist smudges and fingerprints.
4 Mistakes to Avoid When Moving Into Your First Home
Perhaps you’ve been living with your parents your whole life to save up for a down payment on a home. You finally have that first home you’ve been saving up for, but you’ve never moved before. You have no clue how hard it is to move your entire life from one space to another…but you’re about to find out. Here’s what you should avoid doing to ensure you can enjoy this new experience without pulling your hair out. Moving without help. You might have been able to do this for a small move from your parents’ home into your dorm room or small apartment, but moving an entire life into a new home is going to be a nightmare without the adequate hands to keep things moving. You might not want to bug friends and family, but you will be eternally grateful for their help when your move is done in hours instead of taking all day. Hiring the cheapest moving company available. If your friends and family are unwilling or unable to help, you should probably hire movers. Because buying a home is already so expensive, many buyers want to avoid hiring movers, but experienced owners know it’s worth the extra cost. That said, hiring the cheapest mover you find on Craigslist is not advisable. It might save you money in the short term, but the horror stories of broken valuables and stolen items from bad movers are plenty. Don’t skimp out—hire a reputable company with many great reviews you can verify. Waiting too long to pack. We’re all busy and packing is no one’s favourite task. But if you wait until the week before—or worse, days before—you’re not only going to be pulling your hair out, you’re going to be so stressed out you’ll be snapping at everyone and anyone about nothing. Don’t leave it to the last minute, especially if you hired movers. They will arrive on time, and if your stuff isn’t ready, you’ll be charged for that time anyway. Hoarding. This goes hand-in-hand with waiting too long. When you don’t give yourself enough time to sort through what you do and don’t need, you’ll end up packing everything just to get it done, including a bunch of garbage you haven’t used in years. Take the time to pack in stages on the weekends leading up to the move, so you can sort through your junk and toss what you no longer use. This way, you’re not paying extra to move boxes full of items you’re going to toss when you start unpacking in your new home.
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