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October 2017

Found 11 blog entries for October 2017.

Dream HomeIn today's economy saving every penny helps and can go a long way to getting that dream home you've always wanted. There are more ways then just the following tips on how to save money while purchasing your home. But this is a good start on how to save thousands with your next home purchase.

1. Have your Realtor perform a price comparison

In other words, make sure your realtor is comparing the property you're interested in with those that have sold in the area recently. Sometimes listings are over priced in hopes that when they get offers, it's closer to their "bottom price". You never want to offer more then the home is actually worth if you can get it for cheaper down the street. 

2.Get a Home Inspection

By getting a home inspection you can

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Duplex Calgary If you’re even considering buying a home in Calgary, there are several things that could easily sway your decision in favour of a duplex.

Affordability

The first reason why you should buy a duplex is that a duplex is not only more affordable than a traditional single-family home, but sometimes includes the same amount of space, often making it a great deal for first-time buyers.

Extra income

If you choose to live in one side of the duplex and rent out the other side, you could also bring in another source of income. This could mean help with traditional monthly expenses or simply paying down your mortgage faster, reducing your interest payments and boosting the equity you hold in the property.

You may even choose to hang on to the property

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Condo Regulations AlbertaNewly detailed regulations translate to an extra layer of protection for buyers of new condos in Alberta. Passed a few years ago, but now getting ready to go into effect, the rules mean condo developers have to spell out more information to potential buyers in their contracts.

The rules call for providing things like floor plans in the contract so there’s a better understanding of future condo fees in the future. The new rules also call for providing a final move-in date so that buyers would then have some room to cancel or renegotiate if that date isn’t met.

In addition, the new regulations give the government more power to fine developers if necessary, or at least to investigate certain offenses. A majority of the new regulations begin January 1,

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Calgary Halloween 2017Halloween is right around the corner and that means it’s time to start planning out not only the big night, but also some of the days leading up to Halloween. We’ve uncovered three of the best Halloween events in Calgary this year.

Ghouls’ Night Out- Heritage Park

The first is a long-standing tradition for the younger crowd at Heritage Park. The annual Ghouls’ Night Out is aimed at those with kids ages nine and younger in search of a fun and safe place to take the kids for some Halloween fun. The event runs from October 26-29 and is free for those ages two and under.

Hollywood Horror- Rocky Ridge

If you’re in search of a slightly more frightening experience, don’t miss out on Hollywood Horror in Rocky Ridge. The event is this year’s attraction

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Calgary ViewsOne of the best ways to experience sweeping views of Calgary is from atop any of the citys stunning condo towers. Three specific locations supply some of the best scenery there is.

Evolution Calgary

Rising up 31 storeys, Evolution sits right in downtown, with generous views of the surrounding area. Found in the East Village, the three-phase project includes walls of windows and enviable private outdoor space.

Verve Calgary

Meanwhile, a rooftop terrace and lounge provide the perfect setting for admiring the views from the Verve Condominiums. The 25-storey high-rise also includes a six-storey podium, with sensational views from the large windows looking out upon the city and the nearby river.

Solaire Calgary

In comparison, the Solaire

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Buying a Home in Calgary In case you haven't heard, buying a home in Calgary next year could soon be significantly less affordable, meaning first time home buyers need to act fast if they want to secure a home loan before the turn of the calendar. So, if you’re in the market to buy your first home in Calgary, we have a few quick tips to put you on the right track.

Get pre-approved

The first thing you’ll need to do is to get pre-approved for a mortgage. This is especially important for your first home because it helps narrow down what you feel comfortable with spending each month, and what you qualify for.

Know the extra costs

Another tip is to make sure you fully understand what goes into owning a home each month in addition to the mortgage payment. This could include

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Calgary Real Estate Market It may not be at a quick pace, but Calgary’s housing market is beginning to slowly recover, following other signs of an improving economy across the region. With projections of oil prices rising and a rise in jobs and full-time employment in Alberta, in turn come signs of recovery in home prices. 

Calgary, in particular, has seen a five-percent rise in the aggregate home price year over year, while Edmonton has experienced a four-percent rise year over year. 

When looking at just Calgary, the median home price for a two-storey home was up to $520,624 for the third quarter of this year, while the median bungalow price was up to $505,925. Although much more modest of an increase, the median price of a Calgary condominium year over year rose to

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Mortgage Stress Test The final version of new mortgage rules to hit Canadian markets is out, and there are definitely some pretty major chances. Among them is a new requirement that’s designed to “stress test” borrowers with uninsured loans in order to better understand whether they’ll be able to manage higher payments should interest rates increase. 

Under existing laws, home loan borrowers must purchase mortgage insurance when putting down anything less than 20%, and under the old guidelines, such borrowers were already subjected to a similar stress test. 

But now, even borrowers who put down more than 20% will be required to prove they can withstand higher interest rates, which of course is meant to further protect banks and lenders from loan defaults if and when

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Mortgage Rates CanadaIt’s widely expected that housing will be much less affordable in 2018, but by how much is still anybody’s guess. According to reports, mortgage carrying costs could increase by nearly 8% next year, largely because of rate increases and stricter mortgage rules and guidelines. 

To make matters worse, it’s also estimated that household incomes are only projected to increase by 2.5% in 2018. Translation: higher mortgage premiums and minimal wage increases is a bad combination for any housing market, especially when it comes to affordability for entry-level home buyers. 

But even as Canadian regulators may soon force borrowers to qualify for a higher interest rate, perhaps for even as much as 5%, it’s still unlikely actual rates would reach that level,

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Calgary Condos For Sale The ultra-modern condos of The Concord Calgary are now listed on the MLS, providing new options in luxury living right along the Bow River. This spectacular, new construction development offers two towers, altogether including more than 200 planned luxury homes.

Made up of private residences, suites and villas, many condos for sale at The Concord Calgary include two- to three-bedrooms, plus some private outdoor space. The richly adorned buildings surround an all-season garden.

As well, the development also offers a swimming pool and a nearby, waterside lounge, a full fitness centre and a yoga studio. The opulent design features also extend to concierge service, some valet parking and enclosed parking, with even some private garages.

Other

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