Blog Archives
Calgary’s Global Liveability Index Rating and its Significance
You have likely heard the news that Calgary has ranked fourth on The Economist’s Intelligence Unit’s Global Liveability Index 2018. This is exciting news for Calgarians whom already know Calgary is a great place in which to live. In fact, Calgary ranks higher than any other city in Canada or North America for that matter (no U.S. cities ranked within the top 10 cities on the index). Vancouver ranked 6th and Toronto ranked 7th on the index. Many Calgarians are taking this as a well-earned pat on the back, but it is so much more. Why? First, let’s understand how the ranking was established. Out of a possible 100.0 points, Calgary scored 97.5 points on the overall index rating. The criteria include rankings for Stability, Healthcare, Culture and Environment, Education, and Infrastructure. Each category is then further divided into sub-categories covering a variety of indicators and scored as acceptable, tolerable, uncomfortable, undesirable, or intolerable. A score of 100.0 means that a city is liveable, while a score of 1 means that it is intolerable. The rankings include a qualitative Economist Intelligence Unit (EIU) rating based on the judgement of in-house expert country analysts and a field correspondent located in […]
Why Calgary Should be the Next Canadian City to Welcome Buyers from China
Many of us have read or heard the news stories coming out of Vancouver regarding the influx of vacant properties, skyrocketing prices and now a foreign buyer’s tax. We have also heard that much of the blame has to do with investment dollars coming from China. Society loves to cling to news headlines, especially about real estate, and why not? Real estate is an important topic. It affects where we live and to how we will live. I am certainly not discounting the news stories or that some of the blame is due to foreign investment, but Vancouver does represent a perfect storm. It is located on the coast and properties are at a premium because they simply are not making more ocean front land. But as long as I can remember, and even when I lived there in the mid 90’s, properties were always expensive already. It has always been densely populated and competition to live near the water in a densely populated market does drive up prices. It’s always been that way and it will always be expensive in comparison to much of Canada. It’s a Vancouver problem. Before we get excited about buyers from China investing […]
Home Buyers Wishlist, Taking it a Step Further
Everyone knows that some renos simply pay off better than others. Home buyers care more about rooms like the kitchen and bathrooms than the living room or office. But if you’ve recently tackled those most-important rooms, what are some smaller projects you can do to make your house really stand out to a potential buyer? Bamboo Floors. If you have carpet or lino still lingering in your home, you may want to replace it with bamboo. While this flooring had a shaky start, over the last couple years bamboo has just been getting more and more popular. This flooring is durable and a great environmentally-sustainable alternative to hardwood. The new generation of homebuyers is generally more in-tune with the environment and making green choices than the baby boomers, so making obvious sustainable choices like bamboo floors may be a selling point for many. Breakfast Nook. While a formal dining space is a luxury at Christmas time or Thanksgiving, many Canadians don’t want to eat in the dining room for each meal everyday. That’s why the breakfast nook is getting so popular. The nook is simply an informal place to eat a meal or have a snack, and is often just […]
How to Avoid Buying a Home with Major Problems
No one wants to spend $500,000 on a house they can’t live in, but unfortunately, this happens more often than you’d imagine. In Calgary, there can feel like a shortage of good homes in good neighbourhoods, and this can lead to rash decisions. Especially if your home’s already sold and your kids are done school for the year. It makes sense to want to move them into your new neighbourhood ASAP, but not if it means having a ton of problems to deal with for years to come. Get Two or Even Three Inspections. I know what you’re thinking: Two? You want me to pay for two inspections? No, actually. While, of course, I’ll advise getting and paying for a complete inspection of your home, the second one should be free. That second inspection is for the roof, and many Calgary roofers are happy to provide these inspections free of charge. The thing is, while inspectors are great for general things, they aren’t perfect, and they aren’t specialized. An expert roofer examining your roof will find things a general inspector may miss. Similarly, if you find you or a family member experiences allergies in the home, but your home […]
Home Insurance 101
If you’re purchasing a home, then you’ll probably have learned there’s more than the mortgage to budget for. Besides taxes and repairs, you’re also going to have to leave room for home insurance. This is because your financial institute is not going to be okay lending you hundreds of thousands of dollars for an uninsured house that could burn down tomorrow. But whether you’re buying your first home, have owned your property for years, or are still renting, you should consider home insurance. Here’s why: They’re There for You After a Catastrophe. When you’re the victim of fire, flooding, or burglary, it’s common to feel confused, emotional, even vulnerable. Having proper insurance can help to relieve some of these feelings by providing you with the money you need to have your home repaired and your possessions replaced. For young homeowners who are struggling already, a comprehensive insurance plan can be a financial lifesaver after a major incident. It’s Usually Affordable. If you payed $300,000 for your house, that’s how much you should insure it for, right? Wrong. You should actually be able to insure your home for substantially less. This is because the land your house is sitting on is […]
Easing Home Buying Anxiety
Canadians are no strangers to stress. On the contrary, often studies argue that we work too much and relax too little. And unfortunately, when it comes time to buy their first house, many Canadian home buyers spend this exciting step in their life fretting and anxious instead of enjoying the new chapter of their life. As a long time Calgary realtor, I strive to make sure all of my clients can relax enough to appreciate this very special time in their lives. Learn about Mortgages. Over the years, I’ve learned nothing helps home buyers to feel more confidence and less anxiety than a strong understanding of mortgages and the mortgage journey. For better or for worse, mortgages are an integral part of buying your first home. Having an understanding of mortgage rates (and how they compare between lending institutions) and of mortgage features (and how they benefit your family) is useful for anyone, but for those purchasing a home in the near future, a little knowledge can go a long ways in helping you to feel less worried. Budget Like a Pro. Houses are expensive. Interest is expensive. Utilities and internet and taxes and repairs are all expensive. It’s no […]
Home Buyer Wishlist: Renovations that Increase the Value of your Home!
When it’s time to sell, it’s a good idea to take a good hard look at your home and see what work needs to be done before you list the house. With the right renos, you won’t only increase the likelihood that your home will be purchased quickly, but you’ll also be likely recoup all the costs spent. So which renos are best? The Kitchen is the number one room you should be looking at when deciding where to spend your renovation piggy-bank. This is because the kitchen is the first room many families inspect, and the kitchen can make or break couple’s decision to buy a house. Fortunately, you don’t need to completely redesign the entire area to reap the rewards. A little paint, refinishing the cabinetry, under cabinet lighting, and updated, modern faucets and fixtures will go a long way without draining your coffers. Light and Airy. Nobody wants to live in a cave, so houses that are dark, gloomy, and restricting just don’t sell. Make sure your home has enough light fixtures and replace all the bulbs for some extra brightness. Open floor plans are the preference with most Canadians now a days, so if you […]
Three Questions you Should ask BEFORE you Buy the House
Buying a home is a huge decision. I can’t even begin to describe how many questions you should be asking before purchasing a house. It’d be impossible to go through them all, and that’s exactly why you should be working with an agent that you trust. We’re at your side to remember to ask if the home has ever had an infestation problem and to remind you to try all the taps. But if you do go looking at prospective home by yourself. Here are some questions you really should remember to ask. Are There any Foreclosures in the Area? Foreclosed homes sell for less than other houses. If there are any foreclosures in the vicinity, those low prices are going to have a very real effect on how much sellers can demand. The competitive prices are great for you because you’ll likely be able to offer less than you’d otherwise have to. Related Bonus Questions: Any paranormal or criminal activity? Homes with suicides, murders, meth labs, or ghost stories sell for less. Is this Home in a Floodplain? The Great Flood has probably taught more than a few Calgarians that living in a floodplain is not the wisest decision. […]
How to Start Your Rental Property Search
Are you ready to become a landlord? Owning rental properties is an excellent investment opportunity, but it takes a lot of work and comes with its fair share of risks and annoyances. Bad tenants can leave you with thousands of dollars in damages, and taxes and costs may be much higher than you initially plan. However, if you’re determined to be a landlord and choose the right properties, there is a lot of success to be found. Who are your Tenants? The most important lesson a future landlord needs to learn is that the quality of a tenant matters. If you have an excellent tenant that takes pride in their home, keeps it in excellent repair, and rarely bothers you for help, it can be worthwhile to keep their rent low. Don’t have your own terrible-tenant story to share before learning how to tell a good tenant from a poor one. Buying in good neighbourhoods with low crime rates and above average schools will likely attract families who will treat your property like a real home. Budget Carefully. Everywhere is different, but the property tax you’ll need to pay on a home that is not your primary residence is likely […]