Archive for Buying a Home in Kitchener-Waterloo

How to Invest in Real Estate in Waterloo Region

Be in Control of Your Financial Investments with Real Estate

Be in Control of Your Financial Investments with Real Estate

As you are most likely aware, the real estate market in Waterloo Region and surrounding areas is extremely active right now and has been for quite some time. When you witness the rise in home values the next logical step is to think, “Could I make money from investing in real estate?”

Most of the millionaires in existence have made money in real estate. That’s because as an investment, real estate is safe and increases in value over time. If you are thinking of your future and wondering how you will plan for retirement, owning income properties is a solid way of being in control of your financial future. With real estate, you have more control over this type of investment and you don’t need a financial planner to help you execute investment decisions. All you need is a relationship with a long-time Realtor who you trust to pick their brain every once in a while.

To find out how to affordably invest in real estate, watch my video below:

 

 

Find out how I’ve helped more than 2,500 families buy and sell homes in Kitchener-Waterloo by getting a copy of my free eBook here. Also for more great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

Real Estate Tips: Home Buying Mistakes to Avoid!

 Purchasing a Home? You Will Want to Know This!

Purchasing a Home? You Will Want to Know This

In this video, I tell you what other Real Estate Agents won’t: the biggest mistakes that home buyers make when purchasing a home. Whether this is your first purchase or you’re looking for your dream home, this is important information for you.

Watch this video for my complete answer to this home buying issue:

 

 

Find out how I’ve helped more than 2,500 families buy and sell homes in Kitchener-Waterloo by downloading my free eBook.  Also for more great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

Mark

How To Know When You’ve Found the Right Neighbourhood For You

On a scale of 1 to 10, real estate pros (don’t ask me who these people are, I just find the research haha) rated characteristics of a GREAT neighbourhood. I decided to take these results and apply my 21 years of real estate experience to provide you, the Waterloo Region homebuyer, with information that can help you when searching for your dream home in Kitchener-Waterloo.

Let’s go over the scale. Here’s my interpretation of the rating scale:

10 means: “It’s essential!”

1 means: “Pffft. Who cares?”

 

Find out how I’ve helped more than 2,000 families buy and sell homes in Kitchener-Waterloo by downloading my free eBook here: http://bit.ly/MMSellers. Also for more great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

House Buying Tips: New Mortgage Rules in Canada Effective October 2016

Learn How the New Mortgage Rules Will Affect You

Learn How the New Mortgage Rules Will Affect You

In this article I’m going to talk to you about the new mortgage rules that the federal Government of Canada has just imposed upon us that are going to take place effective October 17, 2016. If you have an existing mortgage this is not going to affect you at all. However, if you’re selling your home, buying a new home and applying for a new mortgage this is definitely going to affect you. So what the federal government has done is a couple of things really.

Foreign Investment in Canada

First of all they are taking steps in an attempt to cool a HOT real estate market. I have to tell you the truth; this is the hottest market for home sellers I’ve seen in my 21 years in real estate in Kitchener-Waterloo. Period! How the government plans to cool the market is by imposing a tax on foreign buyers. Up until now, foreign investors could come to Canada and a buy house as long as they lived in it for a year. Then it was considered their principal residence so if they sold it there was no capital gains tax on it. The government has now wiped that out so if you’re a foreign investor buying in Canada, whenever you sell that house and make a profit, you have to pay capital gains tax. The reason why the government wants to dissuade foreign investors from buying houses is to prevent so much quick flipping of these homes.

Mortgage Qualification Rules

The second thing the federal government has done is they’ve changed the mortgage qualification rules. Although you or someone you know may qualify for a low mortgage rate of 2.0% or 2.1%, the Government of Canada now says that nevertheless, you have to qualify for that same mortgage at the current five-year Bank of Canada rate which today is 4.64%. So for instance if you are buying a new home and you’re putting 10% down, where you would have qualified for a new mortgage of say 605,000… with the new rules you would only qualify for a mortgage of $510,000. The hope is that this will mean Canadian home owners won’t stretch themselves so far credit-wise. In actuality, this is a valid concern that trip mortgage rates take a jump of one or two or even three percent that would throw a lot of people out of their homes and we would have a terrible situation. We would have a lot of foreclosures, powers of sale – so I understand what the government is doing. It’s a little bit of what I call “social engineering” trying to tax our behaviour and make our behaviour such away by tags but it’s not totally free enterprise but it’s being done anyway so we have to live with it anyway.

To get my full response on the new mortgage rules in Canada, watch my video below:

Find out how I’ve helped more than 2,000 families buy and sell homes in Kitchener-Waterloo by downloading my free eBook here: http://bit.ly/MMSellers. Also for more great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

 

 

 

Is NOW a Good Time to Buy a Home in Kitchener-Waterloo?

Is this really the best time to sell your home in Kitchener-Waterloo? With all of the competition for home buyers, is now a good time to buy a home in Waterloo Region? I address these questions in an informative Q&A session with one of my team members.

In this video, I’m answering questions about the current state of the real estate market in Waterloo region. This is important information for you if you are selling your home in Kitchener-Waterloo. If you are looking to buy your dream home and currently own a house, you can benefit from my 21 years of real estate expertise in answering timely questions about the market for home buyers. Click the video below to hear my answers to relevant questions for home sellers AND home buyers.

 

 

Find out how I’ve helped more than 2,000 families buy and sell homes in Kitchener-Waterloo by downloading my free eBook here. Also for more great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

Buying a Home: The Wrong Time to Buy

Looking for a house, Tyler quickly got in over his head. A professional REALTOR® helped him develop a more realistic and practical pathway to ownership. Watch Tyler’s story below:

Find out how I’ve helped more than 2,000 families buy and sell homes in Kitchener-Waterloo by downloading my free eBook. Also for more great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

Real Estate Tips: New Mortgage Rules in Canada

Learn How the New Mortgage Rules Will Affect You

Learn How the New Mortgage Rules Will Affect You

In this video I’m going to talk to you about the new mortgage rules that the federal Government of Canada has just imposed upon us that are going to take place effective October 17, 2016. If you have an existing mortgage this is not going to affect you at all. However, if you’re selling your home, buying a new home and applying for a new mortgage this is definitely going to affect you. So what the federal government has done is a couple of things really.

Foreign Investment in Canada

First of all they are taking steps in an attempt to cool a HOT real estate market. I have to tell you the truth…. click below to watch my complete explanation of the new mortgage rules in Canada:

Find out how I’ve helped more than 2,000 families buy and sell homes in Kitchener-Waterloo by getting a copy of my free eBook here. Also for more great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

Real Estate Tips: Buying a New Home

Don’t take our word for it, find out how a professional REALTOR® could have helped Charlene see the complete picture of what she was buying before the deal closed.

Find out how I’ve helped more than 2,000 families buy and sell homes in Kitchener-Waterloo by getting a copy of my free eBook here. Also for more great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

Real Estate Tips: Should I Buy a House First or Sell My Home First?

Real Estate Tips: How to Buy and Sell Real Estate in Kitchener-Waterloo

Real Estate Tips: How to Buy and Sell Real Estate in Kitchener-Waterloo

When selling your home, do you buy a house first or sell your home first? This is important information for you if you are selling your home in Kitchener-Waterloo. If you are looking to buy your dream home and currently own a house, you can benefit from my 21 years of real estate expertise in answering this crucial question. The first thing you want to do when considering to sell your home is to get an offer on your existing home first. In this case when you’re ready to start looking at homes you are now considered a “Cash Buyer.” If you are out looking at homes and you don’t have your current home sold, any offer you make will have to be conditional……

Watch this video for my complete advice on buying a new house and selling your current home.

Find out how I’ve helped more than 2,000 families buy and sell homes in Kitchener-Waterloo by getting a copy of my free eBook here. Also for more great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

Mark

Making Extra Mortgage Payments Can Be Beneficial. But Should You Do It?

Should You Be Making Extra Mortgage Payments?

Should You Be Making Extra Mortgage Payments?

Perhaps you have had your home in Waterloo Region for a few years now. You’ve purchased all of the necessities that didn’t originally come with your home – a lawnmower, gardening tools and maybe you have updated your furniture and you’re pretty much settled in. Now you’re realizing you have a little extra money each month and it occurred to you that you could knock some time off your mortgage if you made an additional payment here and there. What if you put a portion of every pay aside just for this purpose – is it a good idea? You’re not the first person to come to me and ask for my advice on this. I’ve had this question asked of me while couples are putting in an offer on a home as well as past clients contacting me years after I’ve helped them buy a home in Kitchener-Waterloo to discuss this option. Initially, it seems like a rather sound idea: make an extra mortgage payment or two every year and potentially save tens of thousands of dollars in interest over the lifetime of your mortgage.

The Benefits of Making Extra Mortgage Payments

Just one extra mortgage payment a year has advantages. Yes, you can pay off your mortgage in a shorter period of time and take a few years off the term of your mortgage. Let’s take as an example, a $250,000 mortgage over a 30-year term with let’s say a fixed rate of 4%. If you made one additional payment every year, you would save approximately $27,724 over the lifetime of your mortgage. This one extra payment per year would also shorten the term of your mortgage by somewhere around four years and a bit.

The Downside of Making Extra Mortgage Payments

Yes, there is a downside to everything in life. Let’s look at the disadvantages of using income you have freed up, to contribute to your mortgage. If you use this extra cash to put toward your mortgage, you are tieing up funds that could be used to put aside for emergencies. Everybody has one at some point or another. One of the big ones is automobile repairs. You need your vehicle and if it were to break down, do you have money put aside for repairs? Financial investment specialists I have spoken to over the years have told me we should have 3-6 months of salary put aside for emergencies. Another smart use for extra money is putting it toward retirement through a specific type of retirement investment. If you have children, you’re going to want to contribute to an RESP for college or university tuition. I have a step-daughter who is enrolled at McMaster University in the fall and it sure hit home how expensive an education is when we sat down and made out an itemized budget. Thankfully, an RESP was started for her when she was a baby and at least her tuition and book costs are covered every semester.

If you have decided to make additional payments toward your mortgage, the first thing you will want to do is to contact your mortgage broker. Here are the questions you will want to ask:

  1. Do they allow extra payments?
  2. Do the extra payments go toward the principal and NOT the interest?

If extra payments are allowed and the amounts you will pay go toward your principal, now you need to decide which is the best approach to making these extra payments. You can pay a little extra every month, pay a lump sum at the end of the year (or at any specific time during the year), or you can make your mortgage payments bi-weekly which at the end of a year works out to one extra mortgage payment. In any case, speak to your mortgage broker about all of this and ask for the answers to your questions in writing so that you’re clear on what you can and cannot accomplish by making extra payments on your mortgage.

Find out how I’ve helped more than 2,000 families buy and sell homes in Kitchener-Waterloo by getting a copy of my free eBook here. Also for great real estate videos you won’t find anywhere else, subscribe to my YouTube channel. I love to share my expert knowledge so if you have any real estate questions feel free to call me at 310-SOLD or email me at mark@maurerteam.com.

Mark