1) Appliances
Not all home purchases include major appliances. if you want the expensive stainless steel appliances you see in the home when you tour it, be sure to put it in writing. Name the appliance by brand and model in your offer, such as the Samsung French Door Refrigerator with the 'Convertible Zone,' or you may end up with no refrigerator.

2) Drapes, Curtains and Blinds
Although the custom in most markets is to leave all window coverings with the new owner, in some instances there are custom-made decorative drapes the home seller might exclude from the sale if nothing is said. If drapes are important to you, be sure to have your agent specify 'existing window coverings' in writing.

3) Personal Property
Seldom does personal property stay with the house. If there is a chair, mirror or table you believe fits the house perfectly, make a purchase offer to the seller. If your offer is accepted, have your real estate agent put it in writing.

4) Smart and Flat Screen Television Sets
The home you want to purchase may have a big-screen television mounted on the wall with no visible wires, but don't expect it to be left for you to enjoy. The expensive mounting brackets also belong to the seller unless you are able to negotiate a deal. Any agreements to purchase items in a home must be put in writing. There are many stories of buyers not getting something they expected because it wasn't in writing.

5) Buying a Foreclosure Home
Usually you are buying a home 'as is' when it is in foreclosure, and the previous owners may remove the bathroom and kitchen fixtures, lights, drapes and anything else they can take before vacating the home. Know what you are getting and how much you will have to replace.

Having all of the 'wanted item' inclusions detailed in writing can eliminate some of the headaches of buying a home, and you can go to your closing knowing you are getting everything you and the seller agreed upon.

We all know that paying off a mortgage as early as possible makes good financial sense. You’ll save significant interest costs and free up money for RRSPs and other investments, and changing lifestyle needs. Here are 5 strategies to help you become mortgage free sooner:

1. Add a bit to your monthly payment.Most of us can find an extra $50 per month by cutting out a restaurant meal. Add that money to your mortgage and you’re saving big on interest down the road.
2. Make a yearly pre-payment. Paying an extra one or two thousand on your mortgage once per year on the anniversary date of the mortgage could yield significant savings over the life of the loan. Take advantage of a tax refund or bonus from work. Lump-sum mortgage prepayments have a much greater impact on the total amount of interest you’ll pay if they are made early in the mortgage. 
3. Increase your mortgage payment if your income increases. Pretend your income didn’t increase and maintain your usual lifestyle. 
4. Choose accelerated bi-weekly payments. Instead of paying your mortgage on a monthly basis 12 times per year, pay your mortgage every two weeks for a total of 26 payments, effectively giving you one more mortgage payment each year.
5. Stay informed. Don’t let your mortgage go on auto pilot. Let me stay in touch with you throughout your mortgage years. I can help you save money at renewal, and will keep you up-to-date on interest rates and new mortgage options. You can save thousands just by understanding what your options are and by taking advantage of opportunities.

Let me help you build a plan to become mortgage free sooner!

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Navigating the world of Canadian home buying.

Step 1: Figure out how much you can afford.

Falling in love with a house you can’t afford can be heartbreaking. Avoid disappointment by figuring out your budget before you start looking.

- First, decide how much you can afford for your down payment. The Home Buyers Plan lets you withdraw up to $20K per person (or up to $40K per couple) from your RRSPs – tax-free – to be repaid over 15 years. The bigger your down payment, the less principal you will owe, and the less interest you will pay.
- Don’t forget about closing costs, like insurance, legal fees, home inspection costs, land registration and land transfer fees. Add those to your moving expenses and service hookup fees, and they can add up surprisingly fast.
- Your monthly housing expenses (mortgage, taxes, heat, etc.) shouldn’t use up more than 32% of your income. (If your combined monthly income is $5000, for example, 32% of that is $1600.) If you have car payments or credit card debt, the rule of thumb is that debt repayment shouldn’t be more than 40% of your income.
- Get pre-approved for your mortgage. It’s a good way of finding out how much you can borrow – and it speeds up the process once you’ve found the home you want to buy.

Step 2: Figure out what type of home is right for you.

- Sit down and make a list of must-haves and nice-to-haves. Be realistic, but be clear about the features you can’t live without. How many bedrooms do you need? Bathrooms? Do you want a home office? A garage? How about a big backyard? Hardwood floors? Eat-in kitchen? Consider your lifestyle and your stage of life. If you’re planning kids in a year or two, the studio loft might not be your best bet.

Step 3: Decide where you want to live.
Living in an area you like is as important as buying a home you love. Do you want a busy urban lifestyle, a house in the ‘burbs, or a quiet place in the country? Do you want to walk to work or are you okay with a longer commute? Do you need to be close to good schools? Rec facilities? Shopping?

Step 4: Start looking.
Go to open houses. Visit mls.ca. Check the classifieds. Drive around neighbourhoods you like looking for For Sale signs. Talk to your REALTOR® about your needs and start looking at properties.

Step 5: Build a team.
Put together the right group of experts to help you buy. Start with a REALTOR® you trust, then look for a reputable lender or mortgage broker, a lawyer (or a notary in Quebec), a home inspector and an insurance broker. Your REALTOR® works closely with all of these professionals, and will be happy to recommend people you can depend on.

Step 6: Make an offer.
You’ve found the perfect place – now it’s time to make an offer. An offer to purchase includes the purchase price you’re offering, chattels to be included in the purchase (like appliances or light fixtures), the amount of the deposit, the closing date and any other conditions.
Your REALTOR® will help you prepare your offer, and will present it to the vendor, who will either accept it or make a counter offer (which asks for a higher price or different terms). You can accept or reject the counter offer. If everyone agrees, the home is yours. If not, you can make another offer, or you may have to keep looking.

Step 7: Get a mortgage.
Once you’re approved, you’ll need to decide what type of mortgage works best for your needs. Will you go with a fixed or variable interest rate? Will your mortgage be closed or open? What will your amortization period be? Will you make payments monthly, biweekly or weekly? Your mortgage broker or lender can help you find a mortgage that suits your needs – and saves you the most money in the long term.

Step 8: Move in and enjoy!

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