First-Time Home Buyer

What are your top 3 tips for first-time buyers?

Tip 1: Do your research and think ahead Choosing a new home also means choosing a neighbourhood — one you may want to stay in for the foreseeable future. Think about where you'd like to be a few years down the road, and make sure your new home and community are right where you want to be. Researching average home prices and nearby amenities will help you determine whether a neighbourhood will be a good long-term fit.

Tip 2: Crunch the numbers Planning well saves you money in the long run. When going house hunting, it’s important to know both what you can afford comfortably and what's special enough that you're willing to stretch the budget. If you know that in a year or two you’re going to either expand your family or need a little more space, it’s a better idea to find a way to get a home you can grow into without all the expenses of moving again.

Tip 3: Have a list but keep an open mind.

It’s a good idea to write down a list of the things that are important to you when it comes to your first home. Knowing your must-haves will help you stay focused during your home search and help you feel confident when you think you’ve found the one. And remember: no home is perfect without your touch, so if you see a funky paint colour you don’t like, remember that paint isn’t structural.

How important are preparation and education for first-time buyers when entering the market?

You can never be too prepared, especially when it comes to buying your first home. That’s why working with a brokerage like Properly is so helpful — along with an expert team of real estate agents, Properly arms you with the data and tools you need to navigate the real estate market with ease. For example, Properly’s Instant Estimate tool is a free home value calculator that allows you to track the value of

Have Confidence in Your Real Estate Dealings

Buying a home is very exciting, but it can also be daunting, especially in a competitive or super-heated market.

Before you jump in, it’s essential that you feel as confident and in control as possible. That’s why it’s a good idea to hire an agent who's in good standing with the Real Estate Council of Ontario (RECO).

We encourage you to speak with several agents before choosing the one who you feel best meets your needs, and to use RECO’s real estate professional search tool to check the status of your agent.

What does the RECO do?

Like many other professionals — including lawyers, accountants, teachers, nurses, and engineers — real estate agents and broker-

ages are regulated in Ontario and in other provinces as well. The RECO enforces the Ontario government’s Real Estate and Business Brokers Act, 2002 to protect buyers and sellers. Our mission is to promote a fair, safe, and informed real estate market.

While most agents follow the rules, unfortunately — as in all professions — there are some who do not. If we receive a complaint about an agent or brokerage, we'll investigate and take appropriate action.

Education to meet the needs of buyers and sellers

Before they're allowed to become registered with the RECO and to trade in real estate, aspiring agents must pass a set of comprehensive exams to ensure they understand the rules and have the expertise to provide the best service

any home in the GTA, so you can keep your finger on the pulse of the market.

Tell us about your partnership with Properly and how it can help first-time buyers.

Properly is a new kind of real estate brokerage that’s making home buying easier and empowering first-time home buyers with data and real estate expertise.

Properly’s home search site lets you find new listings quickly and easily, and since listing prices don’t tell the whole story, it also shows recent sold history and sold prices. The Instant Estimate tool is powered by AI and helps you and your agent go into an offer situation understanding the true and accurate value of a home.

Properly also has a top-tier roster of agents who know the market inside and out and are backed by a team of in-house pricing, closing, and negotiation experts to support buyers. Expertise matters in today’s hot market!

possible to their clients. This includes having a thorough grasp of many topics, such as:

Laws that apply to real estate transactions

Rights and responsibilities of agent and client

Terms and conditions of agreements

Multiple offers

Pre-emptive (or bully) offers

Advertising rules

Lockboxes

Mortgages

Home inspections

Insurance to protect you and your money

Through the RECO, your agent is also insured. Consumer deposit insurance protects your deposit in the event of fraud, misappropriation of funds, or insolvency, and is available at no cost to those who hire a brokerage.

For more information, visit reco.on.ca

This article was sponsored by the Real Estate Council of Ontario

with the Scott Brothers

Avoiding the Home Renovation Horror Story Starts with the Right Contractor

We’ve all heard some shocking home renovation horror stories from our friends and family over the years, but the fact of the matter is that taking on a home renovation project, whether large or small, doesn’t have to be scary at all. It starts with establishing a clear idea of what you want to get done, setting a realistic budget, and outlining a timeline. Once you have this mapped out, it’s time to find a contractor. These days, this can be easier said than done, so here are a few ways to find the right contractor for you.

Get referrals

A great way to find a contractor is through referrals. Ask friends, neighbours, and colleagues who they’ve worked with or if there’s anyone they can recommend. It’s a particularly good idea to get referrals from people in your neighbourhood. You can easily go in and look at the work that was done and you can feel confident that the builder has worked with local inspectors.

Use technology

Things have changed a lot since I started in this business. More and more, I rely on technology to help me find the right people for my projects — whether I’m acting as the contractor or the home owner (and these days I do a lot of both). I’ve partnered with bidmii, a platform that helps make renovations easy, right from the start. It’s a simple three-step process.

Post a project: Home owners share photos and details of their project;

Compare bids: Connect with local pros who will bid on the project. Home owners select the best pro, at the right price; and

Book a pro and secure your payment: Once a bid is accepted, the payment gets held in trust until the job is completed to both parties’ satisfaction. This helps keep everyone honest.

Check ratings and reviews

Check out online reviews for contractors and tradespeople in your area. Make sure you’re reading reviews on reputable sites to ensure that you can feel confident in your choices. bidmii’s platform features a two-way ratings and reviews system, which helps build and establish trust. All of the contractor reviews and ratings are completed by other home owners on the platform, so you can feel con fident in your choices and know that your project will turn out exactly the way you want.

Becoming a home owner is one of life’s major milestones. Whether you’ve purchased a brand new home or a fixer-upper, there are always a few things that require extra attention once you move in. For some, a home renovation project presents an excit ing opportunity to bring their own taste and vision to their new space, while for others, it’s a monumental stress figuring out where to start, how to get help, and how to keep the process as stress-free and inexpensive as possible. bidmii is a great solution because it’s absolutely free for both the home owner and the contractor. The experience is easy, fast, and free — a real win-win for everyone involved.

To see how bidmii can help in your next home renovation project, go to bidmii.com

This article was sponsored by bidmii.

Nobody fully prepares you for the realities of home ownership — especially when unexpected flooding strikes, leaving you with a drawn-out headache and damage to your investment.

Luckily, there are easy ways to avoid common causes of water loss before they even start.

story — from it breaking during a cold snap to leaking in the middle of the night.

Most hot water tanks last approximately 10 to 15 years but can show signs of damage much earlier. Home owners should perform regular visual inspections of their tanks. Immediately connect with an expert in your area if you notice any of these warning signs:

Rust-coloured water

Uneven temperatures

Valve or pipe leaks

Unwanted water around your tank

Unusual noises

1. Understand your washing machine hoses

Washing machines transfer pressurized water through hoses at the back of the appliance. Those hoses commonly wear down over time and can leak or burst when compromised.

Many washing machines come with rubber hoses. This isn’t an immediate concern; however, we recommend upgrading to braided stainless steel hoses. The steel encases a rubber hose, creating a burst-resistant bond. Sometimes the braided steel can puncture the rubber hose if it becomes bent or kinked, so try to find hoses with an elbow at the end to prevent this.

2. Inspect your hot water tank

Everyone has heard a hot water tank horror

It’s wise to have an expert contractor inspect your tank annually as well.

pit; if the pump doesn’t discharge water, you may have a faulty switch

Ensure your exterior discharge line leads away from your home and that water is flowing out of the pipe

Install an alarm to alert you of a higherthan-usual water level within the pit Never use an extension cord or power bar

Consider purchasing a backup generator.

4. Learn about water leakage detection technology

This is a major preventative measure that will one day be as common as smoke detectors.

3.

Know your sump pump basics

A sump pump is a device that helps prevent flooding in your basement by activating when water levels rise. It could be your saving grace in a water disaster.

Here are some ways to maintain your sump pump and maximize its life:

Replace your pump every 10 years or sooner Conduct seasonal tests after the winter melt Test the pump by pouring water into the

Water leakage detection systems work by monitoring water flow patterns to detect irregularities. They can alert you of leaks directly to your smartphone so you can act quickly. Be sure everyone in your household knows how to manually shut off your main water valve in case your system detects a leak.

Some types of systems are capable of automatically shutting off your main water valve, minimizing the damage even further.

We recommend you install leakage detectors in areas where water escape is most common (such as the laundry room, bathrooms, and under sinks).

Be flooded with joy, not water! Visit savethestress. wawanesa.com for more tips.

This article was sponsored by Wawanesa Mutual Insurance Company.

What comes to mind when you think of interior design? Do you picture a beautifully-furnished living room with trendy curved furniture, limewash walls, and vintage lighting? Or are you envisioning colour swatches, cabinetry mock-ups, and flooring samples? Perhaps you imagine a decorator focused on selecting the perfect candlesticks, throw pillow, or coffee table. If this is what comes to mind, you wouldn’t be wrong — but you also wouldn’t be seeing the full picture.

Today’s interior designers are highly-educated and accredited individuals who are involved in much more than decorating. And for new home buyers, partnering with

an interior designer could get you closer to the home of your dreams.

The multifaceted world of design

For Cheryl Broadhead, a Vancouver-based registered interior designer and principal of Bob’s Your Uncle Design, collaborating with architects, engineers, and consultants is par for the course. “My team and I select plumbing and lighting fixtures, and we work with electrical and mechanical engineers to make sure we’re meeting the energy requirements and water restrictions of a building,” she says. “Maybe five percent of our work falls into the decorating category.”

Broadhead is also LEED-certified and

How nesto Helps FirstTime Home buyers Enter the Market

It’s not easy being a first-time home buyer in a market designed to make the process seem so complicated, let alone in today’s ever-increasing home price market. As first time homebuyers realize this, more of them are turning to nesto due to their quick, and unbiased solution.

One obstacle facing homebuyers is the minimum down payment required. The sharp rise in property values — especially since COVID-19 — has raised the cost of a down payment.

This reflects in Sagen’s 2021 research, where it’s shown that lower rent thanks to living with family and family gifts contributed to higher home prices met by higher down payments. While nesto can’t provide users with the funds to increase their down payment (yet), they have instead gone above and beyond in simplifying the mortgage process by way of adding transparency to the rate discussion and providing free and unbiased advice through their salaried mortgage professionals.

Best mortgage rates for first-time buyers on the first try “First-time buyers tend to focus on the lowest rate, an item which nesto specifically covers without any effort or negotiation on the user’s part,” says Belair. Not only is nesto offering among the lowest rates in the country, nesto was built to analyze each individual’s unique situation with the lowest rate top of mind.

One way nesto protects the user is if the lowest rate for a given situation happens to be a restrictive mortgage, nesto walks the user through the examples of how a restricted mortgage could be detrimental to their financial future should an unpredictable life event occur (i.e; employment changes, or relationship changes). In nearly all cases, nesto would recommend a full-featured mortgage product in lieu of, also at best rates for that product type and situation.

With mortgage experts across the country and access to the most advanced technology, the nesto team can screen the entire market in seconds to find the best mortgage for a client’s needs. Because nesto’s agents are salaried, clients can feel confident that they’re getting the best, unbiased advice from a trustworthy source. A quick look at nesto's 500 plus Google reviews with its overall 4.5-star rating proves one thing: nesto is trusted, and continuously fulfills its mission to always be on your side.

intimately familiar with the BC Building Code, and is regularly involved in selecting sustainable finishes and fixtures, addressing health and safety concerns, and incorporating technology into interior spaces.

“Interior designers wear many hats,” says Ian Rolston, President of Interior Designers of Canada (IDC), the national advocacy association for the interior design profession. “We’re part psychologist, part financial planner, part analytics specialist, and part project manager.”

Registered IDC members are qualified interior designers in good standing of their provincial interior design regulatory body in Canada.

Empowering home buyers

This wealth of experience is beneficial for home buyers, especially since the home-buying landscape has changed so drastically in recent years.

“In today’s market, there’s so much competition,” says Rolston. Buyers may wonder if they’ll be able to afford a home and to maintain a certain lifestyle. Fortunately, interior designers have the ability to address these concerns.

“We can help evaluate what buyers need,” says Rolston. “We also have the ability to evaluate potential housing opportunities, giving buyers an idea of what can be adjusted or suggesting renovations, to give them more ease in proceeding with a purchase, especially on a property that may not be everything they wanted.”

By helping home buyers see what’s possible and empowering them to make decisions that take into account sustainability, changing technology, and other key concerns, interior designers can help make home ownership more accessible. Interior designers can also help buyers create healthier indoor environments, equip their homes for the future with technological and aging-in-place inclusions, and create spaces they’ll love for years to come.

IDC is celebrating its 50th anniversary this year and Rolston looks forward to continuing its mission of representing the interior design industry with respect to the varying experiences and cultural, age, and gender make-ups that are representational of its membership. “I’m passionate about ensuring that we’re using spaces as opportunities to engage humanity,” he says. Because at the end of the day, that’s what our spaces are — places where we live, love, and grow.

purchase.

This article was sponsored by Interior Designers of Canada.

Cheryl Broadhead Registered Interior Designers & Principal, Bob's Your Uncle Design

Ian Rolston President, Interior Designers of Canada (IDC)

Interior designers have the expertise to help home buyers find — or create — their dream home.

Tania Amardeil

This article was sponsored by Tarion.

Prospective first-time home buyers face more challenges than ever. nesto’s team of expert mortgage brokers helps millennials navigate them.

Anne Papmehl

Peter Balasubramanian, President and

CEO, Tarion

Based on True North Mortgage’s current rates, the above savings might seem a little shocking. But does that mean a variable rate is the right choice for you?

Your rate type can have a big impact on your mortgage affordability and monthly budget. A variable rate may provide more  savings over a typical five-year term, but your rate and payments can change (tied to Bank of Canada rate fluctuations). A fixed rate is just that — your monthly payments won’t change, but you’ll likely pay more for the budget consistency.

Variable rates are all but guaranteed to go up — it's fixed, so how much and how fast are the unknowns. But with the current spread, variable rates have a long way to climb before they stop making savings sense.

A lower variable rate means you will:

Likely save thousands compared to current fixed rates

Pay more down on your principal

Save on interest costs

Need to budget for higher payments if the prime rate increases

Need advice on when to switch to a fixed rate

Pay lower penalties should you decide to break your term

A higher fixed rate means you will:

Be protected against rate increases

Have consistent monthly payments during your term

Likely have higher payments compared to a variable rate

Pay more for interest costs

Pay higher penalties should you decide to break your term

Want to look for your best fixed rate to save more

The choice can be personal, based on your financial situation and comfort level with changing rates and payments.

And despite the variable savings on current rates, many first-time home buyers may feel more secure with a fixed rate.

Just as important as the rate you choose are the flexibility and fine print of the mortgage you get. You’ll want to make sure that your rate doesn’t come with hidden fees or sneaky restrictions that’ll cost you more when you least expect it.

*Rates as of March 14, 2021. Illustrative purposes only. Makes assumptions that may not reflect all situations. Please consult a True North Mortgage broker for accurate numbers.

When Natalie Holgerson and her husband received an unsolicited offer on their townhome in Steveston BC, they couldn’t believe their luck. In the hopes of moving into a single-family house, they decided to take a chance. Unfortunately, things haven’t panned out as they’d hoped.

Today, they’re renting after losing out on multiple properties despite making a series of subject-free offers. There was never

time for due diligence or a home inspection and offers were always well over the asking price. “Unless you’re willing to take on a million-dollar-plus mortgage, which we are not at this stage in our lives, it’s a super challenging situation," says Holgerson.

Informed decisions instead of regrets

The fact is that BC has nowhere near enough housing supply to meet demand. In March

2021, 67,000 buyers were competing for just 24,000 listings. With so much competition, it’s no surprise that multiple and subject-free offers have become the norm.

Concerned that consumers are making increasingly risky decisions, the BC government has announced plans to introduce a mandatory “cooling-off period” in real estate transactions.

A cooling-off period would let buyers back out of a signed purchase contract with little to no legal consequences — likely leaving the seller in a difficult situation, especially if they’re buyers in another transaction, which is extremely common. A solution that only protects one side involved in a transaction is no solution at all.

That’s why the professional association for BC’s 24,000 realtors, the British Columbia Real Estate Association (BCREA), has recommended that the BC government introduce a mandatory “pre-offer period” of at least five business days from when a property is listed for sale, instead of a cooling-off period.

Pre-offer period: peace of mind for sellers and buyers

Unlike a cooling-off period, which protects buyers at the expense of sellers, the BCREA’s proposed pre-offer period would give both sides of a transaction peace of mind. During the pre-offer period, a buyer has time to review documents and disclosures, ensure their financing is in place, and arrange for a home inspection.

On the other side, when the seller receives an offer, they can be confident that the buyer is serious and has the financing in place to make sure the deal goes through.

BC realtors support more transparency

The pre-offer period is one of more than 30 recommendations that the BCREA has made on behalf of BC realtors to better protect consumers and improve housing affordability as part of a white paper called A Better Way Home: Strengthening Consumer Protection in Real Estate.

Buying a home is one of the biggest financial decisions we’ll ever make. Working with government, consumers, and other real estate sector stakeholders, the BCREA wants to help find a better way home for all British Columbians.

Cheryl Dawes Pearl

Not today, water. NOT TODAY.

Hey water! You thought you had the upper hand. But this property is now protected by the Flex Seal Family of Products, so you better turn and run.

Why? Because it works to coat, seal, protect, and stop leaks fast. Want to rain on someone’s parade, water? Go next door. This home’s new owners are staying dry.

Personalize Your Dream Home with a Free Virtual Colour Consultation

As the leaders in paint and colour, Sherwin-Williams helps home owners create their dream home with free advice from its colour experts.

Tania Amardeil

Once you’ve purchased your new home or condo, the real work begins — or the fun work, anyway! When you’re finished dealing with listings, real estate agents, and mortgage brokers, and have your keys in hand, a new challenge arises: turning your newly-acquired house or apartment into a home that suits your personal style and makes your heart sing. Whether or not you’re planning on doing home renovations, you’ll surely want to give your new home a fresh coat of paint — and having the right knowledge and guidance before you dive in can make the difference between a painted paradise and a pile of regrets.

The power of paint

Painting is one of the easiest and most affordable ways to update and transform a space,

while brown hues can make you feel calm and cozy. However, while colour can bring depth, visual interest, and ambiance to your home, choosing the right paint colours can be overwhelming.

Why seeking support is smart

If you’ve ever stood before a wall of paint samples, you’ll understand the feeling of overwhelm. Differentiating between hundreds of paint colours is daunting. Even if you want something simple like white, there are so many different shades available. Then there are the finishes to consider — from flat and satin to gloss and semigloss. Latex, oil/alkyd paints, pearl, matte — the sheer volume of options is enough to make any home owner perspire. There’s also a wide variety of paint brands on the market representing a vast array of quality levels, and new home buyers may wonder if paying more for a better brand is worth it.

This is why when it comes to painting your new home, turning to the pros is the smartest way to get started. Sherwin-Williams is the experts on painting and colour, and the paint company offers many free tools and consultation services to home owners.

Expert tips, tools, and support

Sherwin-Williams’ offerings include innovative colour selection tools, exceptional paints and stains, a wide selection of brand name painting supplies, personal service, and expert advice. The expert advice in particular is one area in which Sherwin-Williams shines above its competitors, as it provides home owners with exceptional free guidance and support.

The company is also known to be a colour expert, driving industry trends with its annual Colour of the Year selection. This year, Sherwin-Williams’ Colour of the Year is Evergreen Fog SW 9130, a cool and soothing green-grey hue. According to Sherwin-Williams, the versatile, fresh, and chameleon colour — which is sometimes green and at other times grey with just a touch of blue in shadow — is about embracing a new beginning and hitting the refresh button. The hue is a perfect fit for the times, and comes with a striking palette

of complementary colour recommendations.

Booking a free Virtual Colour Consultation

For home buyers seeking to take the guesswork out of paint colour choice, Sherwin-Williams’ Virtual Colour Con sultants are here to help. Request a free Vir tual Colour Consultation and you’ll be connected with a professional who can guide you through your colour selection — all at no cost.

Sherwin-Williams’ Virtual Colour Consultations start off with a 30-minute meeting with a Colour Consultant. In this relaxed, fun, and informative session, you’ll receive expert colour recommendations — including some fresh colour options you may not have considered. Your Colour Consultant will send you up to 10 colour chip samples completely free of charge so you can try the colours in your actual space and in different lighting conditions. New home owners can also visit samples.sherwinwilliams.ca order free colour chips in over 1,500 colours. Finally, your Colour Consultant will provide you with a personalized project plan for your space. These fun, free sessions are designed to leave you with the confidence to tackle your project.

Moving forward with confidence Project plan and paint chip samples in hand, a Virtual Colour Consultation from Sherwin-Williams will leave you feeling empowered to embrace colour and to update your space. After all, there’s nothing that will transform your new house or apartment into a home as quickly and effectively as a good paint job.

So make Sherwin-Williams your first choice for all your DIY paint projects. With more than 100 stores in Canada and over 1,500 paint colours, Sherwin-Williams is the one-stop shop for all of your painting and staining needs. Most importantly, Sherwin-Williams offers personalized support and advice to help you succeed. And new home buyers could all use a little support.

Visit sherwin-williams. com/en-us/virtual -color-consultation to learn more and to book your free Virtual Colour Consultation today.

This article was sponsored by Sherwin-Williams.

Painting is one of the easiest and most affordable ways to update and transform a space, and best of all, you can DIY it with help from your new neighbourhood's Sherwin-Williams.