Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: To Buy or Rent-that is the question!

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: To Buy or Rent-that is the question!: To Buy or Rent – that is the question! For a lot of people, the number one reason they choose to rent versus buy their own home is their ...

To Buy or Rent-that is the question!

To Buy or Rent – that is the question!

For a lot of people, the number one reason they choose to rent versus buy their own home is their fear of signing their name to a long-term mortgage agreement.  But let’s face it – very few of us can go through life without paying for our place of residence in one form or another.  In that sense, you’ve already made a commitment to a fixed schedule of payments for housing -- whether it’s in the form of a mortgage or a rental lease.  In actual fact, one of the major advantages of a mortgage agreement is that it usually covers a longer time period than a lease -- which can work in your favor.  Since no one can guarantee what your rental payments may be two or even five years down the road, your mortgage agreement actually protects you from the increases – compounding annually -- you can often encounter when you rent.

Nevertheless, some people are still intimidated by the total debt that a mortgage agreement represents.  Yet if you added up all the rental payments you could expect to pay over an extended period of time, you may find that going the mortgage route is actually the more affordable of the two options.  With today’s relatively low mortgage rates, and creative financing options, the cost of carrying a home may be lower than what you might expect.  Your Realtor® can show you how owning your own home may be more affordable than you ever imagined. 

While making mortgage payments may actually be more affordable than paying rental costs, let’s not lose sight of the biggest financial benefit of buying a home.

The simple fact of the matter is, when you rent, you’re slowly but surely building someone else’s ownership equity in the property.  On the other hand, when you buy a home, a portion of your mortgage payment is building personal equity for you.  And if sometime in the future, you decide to sell, that equity is something you’ll take with you as you make your next move. 

Lastly, let’s not forget the creative freedom and pride of ownership that comes with owning your own property.  When you buy, you decide the extent of home improvements, and decor changes you want to make.  You decide on color schemes and where you want to build that bookcase.  Maybe best of all, you gain the equity that those improvements add to your home.   Spending money to improve a rental property just puts value in someone else’s pocket. 

If you’re tired of paying off someone else’s home for them, talk to your Realtor® for a no obligation consultation and find out how to make your dream of home ownership a reality.

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Tips for a Smooth Move

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Tips for a Smooth Move: Tips for a Smooth Move To paraphrase an old real estate saying – the three most important factors for a stress-free move are: planning, pla...

Tips for a Smooth Move

Tips for a Smooth Move

To paraphrase an old real estate saying – the three most important factors for a stress-free move are: planning, planning, and more planning.  Plan your move at least one month in advance.  Set up an expense log, and start lining up your suppliers – movers, storage companies, delivery of new appliances or furniture.  Don’t forget painters, carpet installers and other services working on your new house prior to your move-in date. 

Now is the time to minimize the number of items you have to move.  Discard unwanted items, hold a garage sale, and collect boxes.  Notify friends, relatives, the post office, and companies you do business with of your change of address.  Don’t forget about those companies you might contact only once a year, such as life or car insurance companies.

Contact your real estate lawyer to confirm who will be handling the changeover of various utilities and services.  Typically, utilities such as power, gas, water, etc. are handled by your lawyer as part of the final adjustments on the sale’s closing.  Other services, particularly cable television, internet and telephone services, you’ll probably be instructed to handle on your own.  Try to schedule utilities and service connections before you arrive at your new house – and book your appointments as far out in advance as possible, especially if you plan to move at month end, or you might find yourself on a waiting list.

Make a floor plan of the new house and plan where everything will go.  Don’t guess - take measurements of room dimensions and major furniture items and then lay everything out.  You don’t want pay movers an hourly rate to move Grandma’s piano four times because it just doesn’t fit!  When you’re packing,  label boxes clearly by contents and by room, and on moving day, provide movers with a copy of your floor plan so they’ll know exactly where to put the boxes for ‘Johnny’s bedroom’.  Remember to provide plastic sheets to protect carpets.

Prepare a list of the items you wish to move personally such as jewelry and precious breakables.  Pack your pillows, a set of sheets and blankets, along with your nightclothes, a towel and toiletries to take with you in your car. Then at the end of a long and tiring day, you can get ready for bed without having to sort through 50 boxes.  You might also pack a lunch complete with utensils, napkins, condiments, (and perhaps a wine opener?) to enjoy your first meal in your home as a picnic on the living room floor.  And if you like a cup of coffee in the morning, you’ll want to pack the coffee maker and all the fixings to take in your car as well. 

These little things can add up to a pleasant adventure on moving day, rather than an exercise in frustration for you and your family.  Ask your Realtor® for more advice about hassle-free moves.  They’ve been through this with hundreds of customers, so they’re the experts!

Haldimand Weather-I confirm that it is raining in Hagersville now

HaldimandWthr Haldimand Weather

Now overcast 16°C. Wind: NE at 13 km/h. Today chance of storm. Min 10°C. Max 18°C. Tomorrow partly sunny. Min 9°C. Max 21°C.

Haldimand Weather

HaldimandWthr Haldimand Weather

Now 13°C. Wind: E at 2 km/h. Today chance of rain. Min 13°C. Max 22°C. Tomorrow mostly sunny. Min 11°C. Max 22°C. #HaldimandCounty

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: September Canadian 2011 @Home Newsletter

http://tomflatt.blogspot.com/2011/09/september-canadian-2011-home-newsletter.html?spref=bl: Sept. Canadian 2011 @HomeNewsletter Canadians believe buying a home is a good investment On September 7, 2011, the Bank of Canada ag...