Realty Executives Gateway Realty : Archived blog posts for : August 2021

Tips For Back 2 School Prep

Posted on August 25, 2021 by Realty Executives Gateway Realty

Start a morning schedule

Wake your kids up at what will be their regular morning wake-up time. For older children, help them set an alarm clock so they can take responsibility for their own morning wake-up routine.

Eat a healthy breakfast

By now, we all know kids need a nutritious breakfast so they are ready to take on the day. Incorporate healthy breakfast options like apples, bananas, and whole grain toast. This will give them the energy they need to be mentally alert all day, instead of the mid-morning crash they’ll get from sugary cereals.

Set out clothes the night before

Avoid frantic mornings by having your child choose what he or she will wear the night before. If you have a younger child, let him or her pick from a couple different options. Get into a routine of doing this even before school starts so your child is in the habit of planning ahead.

Pack a healthy lunch

In the days or weeks before school starts, plan and make your lunches for the next day together each night. Even though school isn’t in session yet, you can help your kids get used to packing a lunch by having it labeled and ready to go each morning.

Follow a lunch schedule

Start eating lunch at the same time as your child will be when he or she is at school. This will help get your child’s stomach on a schedule so he or she isn’t going to class hungry and distracted.

Make dedicated TV-free time

Start getting into a homework routine now by having TV-free time during after-school hours. Use this time for a learning activity like reading a book or even talking about your day together.

Play board or word games

Playing games over the summer is a great way to keep you child’s mind engaged and focused on building learning skills. This will help make sure your child is prepared when classes start and make the back to school transition a smoother one.

Stick to a bedtime routine

Early bedtimes usually go out the window over the summer break, but young minds need plenty of sleep to be ready to learn. Get back into a set bedtime routine now so your child isn’t up late the night before the first day of school.

Read every day

Learning shouldn’t stop over the summer. Each day, take at least 30 minutes to sit with your child and read together. This will help keep him or her engaged with learning and in the routine of daily schoolwork.

Stock up on school supplies

Take your child shopping for back-to-school supplies he or she will need to get the year off to a successful start. Shopping for backpacks, binders, and pencil cases will get your child thinking (and excited) about the upcoming school year.

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FAQ's for First Time Home Owners

Posted on August 18, 2021 by Realty Executives Gateway Realty

Perhaps you’re simply looking to transform all those “wasted” rent payments into mortgage payments that give you something tangible: equity. Or maybe you see homeownership as a sign of independence and enjoy the idea of being your own landlord. Also, buying a home can be a good investment. Narrowing down your big-picture homeownership goals will point you in the right direction. Here are six questions to consider

Your Financial Health

Do a serious audit of your current financial situation. You need to be able to budget for the purchase and the ongoing payments, maintenance and expenses of a home. Doing some sort of audit will give you an idea of if you’re ready to buy a home or if you need more time to prepare.

Look at your savings

You need an emergency savings that has 3 to 6 months of living expenses worth. When you buy a house there will be considerable up-front costs which include the down payment and closing costs. You need money put away for this, and the emergency funds.

Review Your Spending

Know how much you are spending each month and where it’s all going. This will tell you how much you can spend on mortgage payments each month. This will include your utilities, food, car maintenance and payments, student debt, clothing, kids’ activities, entertainment, retirement savings, regular savings, and any miscellaneous items.

Check Your Credit

Generally you will need good credit to get a home loan, you need a history of making payments on bills, and a maximum debt to income ratio of 43%.

What type of home will best suit your needs

There are single family homes, duplexes, condos, etc, the options are endless. So, give it some thought, because depending on your wants/needs/goals whatever type of property you should should reach those goals.

What features do you want your home to have?

All boxes might not end up being checked, however, this is the biggest purchase of your life! You still deserve a home that fulfills your wants and needs as close as possible, shoot to check 80% of the boxes, especially the basics like, size, number of bedrooms, garage and neighbourhood.

How much mortgage do you qualify for

Make sure you get pre-approved for a purchase price you can afford. Then you will

How much home can you actually afford

Sometimes a bank will give you more money for a home than you can actually afford. Just because a bank will lend you $300,000 doesn’t mean that you should borrow that much. First time home buyers who make this mistake often end up “house poor” when most of their monthly incomes go towards their mortgage payment and they have no money left over for other things. Consider things like property taxes, home insurance, home maintenance & improvements and closing costs along with the payments.

How do you get pre-approved

Call your mortgage broker or your bank’s mortgage specialist first before you even start looking at houses.

Make sure you are good with the minimum down payment

The minimum down payment in Canada is 5% of the total purchase price. The biggest hurdle for a first time buyer can be saving up for this down payment. A savings plan is essential, because the more you save for a down payment on a home means the less you have to borrow for it.

Shop around

This doesn’t just apply for house hunting, but also for a mortgage. Do your research and compare mortgage rates. Even half a percentage will make a difference.

Consider using a mortgage broker

Mortgage brokers compare mortgages from many different banks and financial institutions to find the best option for their clients. In addition to getting lower rates with the Big Banks, mortgage brokers have access to mortgage products and special rates from trust companies and credit unions. They also work with smaller lenders who don’t have the same overhead costs as the Big Banks. The best part? Most mortgage brokers don’t charge you for their services. It is the lender that pays the broker’s commission. All the negotiating and paperwork is handled by the broker and they will assist you in the application process, from pre-approval to home appraisal. Our own Richelle is a Mortgage Broker with TMG and can help you with all your mortgage needs!

Take advantage of the first time home owner programs

As a first-time homebuyer, you’ll want to be familiar with various programs that apply to your situation. Whether it’s a rebate you may qualify for or a tax-efficient way of funding your down payment, there are a number of government programs listed below that can help you potentially save some money when you buy your first home:

The Home Buyers' Tax Credit currently works out to a rebate of $750 for all eligible first-time home buyers.
The Canadian government's Home Buyers' Plan (HBP) allows first-time home buyers to borrow up to $35,000 from your RRSP for a down payment, tax-free.
If you buy your home before it’s built, or if you substantially renovate an existing home, you could qualify for a rebate for a portion of the sales tax. The GST/HST new housing rebate amount you can qualify for depends on the purchase price of the home, and can only be claimed if the net purchase price is $450,000 or less.

Who will find you a home and help you through a purchase

Buyer’s actually pay nothing for the commissions of a real estate agent. SO, you have nothing to lose by working with an agent, except getting the help, knowledge and insight that they will give you to buy a new home at the right price.

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How To Take Care Of Your Outdoor Spaces

Posted on August 4, 2021 by Realty Executives Gateway Realty

Having a huge garden or front lawn can be intimidating. Give your readers some general tips about maintaining outdoor spaces, or even link some local gardening businesses that will be willing to help out.

Always try and invest in that deep spring cleaning

You know the drill, leaf sweeping, wall washing, wiping down furniture etc. it might seem uptight but it will make a huge difference over the years.

Protect your outdoor furniture

Help your furniture last longer by using covers or storing it away for the winter.

Deck and patio care

Find out the best way to care for the wood, plastic, metal, or stone that your deck or patio is made of. Concrete, brick, and stone surfaces always benefit from, at the very least, a mopping with simple soap.

Keeping it tidy

Now that you have all the fun outdoor stuff, you’re going to need somewhere to store it.

Blast Away Grime

A careful sweeping with a sturdy broom is a good starting point, but to get your outdoor space truly clean you may need a little more power. When used at the appropriate settings, a pressure washer can clean a wide range of surfaces from patios, decks and sidewalks to siding, windows, screens and tables.

Take Care of Textiles

Outdoor textiles often take a beating from the elements. Freshen up often-overlooked things like outdoor rugs, lawn furniture cushions, pillows and umbrellas. A thorough vacuuming may be adequate to remove leaves, bugs or dirt. However, if stubborn spots persist and a deeper cleaning is needed, review the manufacturer's guidelines. Washing covered furniture from time to time helps ensure it's ready for use no matter the season.

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