The Real Estate Book of Guelph & Wellington County, ON

HOW TO SAVE UP FOR A DOWN PAYMENT

Saving up for a down payment is one of the biggest challenges for aspiring first-time homebuyers. A typical down payment can range from 5 to 20 percent of a home’s purchase price–that’s no small chunk of change. Although it might seem overwhelming to rack up thousands of dollars, practicing some discipline and using the right tactics can help you pull it off, making it possible for you to go from renter to proud homeowner.

To help you save for a down payment, consider these tips from the American Bankers Association: Develop a Budget and Timeline. Start by determining how much you’ll need for a down payment. Create a budget and calculate how much you can realistically save each month–that’ll help you gauge when you’ll be ready to transition from renter to homeowner.

Establish a Separate Savings Account. Set up a separate savings account exclusively for your down payment, and make your monthly contributions automatic. By keeping this money separate, you’ll be less likely to tap into it when you’re tight on cash.

Shop Around to Reduce Major Monthly Expenses. It’s a good idea to check rates for your car insurance, renters insurance, health insurance, cable, internet and cellphone plan. There may be deals or promotions available that allow you to save hundreds of dollars by adjusting your contracts.

Monitor Your Spending. With online banking, keeping an eye on your spending is easier than ever. Track where most of your discretionary income is going. Identify areas where you could cut back (nice meals out, vacations, etc.) and instead put that money into savings.

Look Into State and Local Home-Buying Programs. Many states, counties and local governments operate programs for first-time homebuyers. Some programs offer housing discounts, while others provide down payment loans or grants.

Celebrate Savings Milestones. Saving enough for a down payment can be daunting. To avoid getting discouraged, break it up into smaller goals and reward yourself when you reach each one. If you need to save $30,000 total, consider treating yourself to a nice meal every $5,000 saved. This’ll help you stay motivated throughout the process.

Reprinted with permission from RISMedia. ©2021. All rights reserved.

REID HOMES

HOME RENOVATIONS

6 GREAT BATHROOM TRENDS TO TRY

Bathrooms aren’t just utilitarian spaces anymore; they’re becoming personalized, spa-like retreats. If you’re ready to hit refresh on your bathroom, these eight ideas will inspire you to turn this everyday space into a calming sanctuary.

1. ACCENT WALLS

Homeowners and designers are increasingly using accent walls to amp up interest in the bathroom. These can be used to liven up a neutral palette or help draw focus to a show-stopping feature, such as a soaking tub or custom vanity.

If you decide to add an accent wall to your bathroom, carefully choose which wall to showcase. Look to the features around or on the wall to help you decide. If you’re still not sure which wall is best, select the one most visible from the doorway.

2. FREESTANDING VANITIES

Personalization continues to be a top priority for homeowners, and freestanding vanities (with their furniture-like appeal) present a great opportunity to add a custom look. Plus, freestanding vanities generally offer the same design and storage options as built-ins, but at a less expensive price point.

Updating your vanity is one of the quickest ways to change the look of your bathroom without undertaking an entire remodel. To customize your freestanding vanity even further, swap out the hardware with pulls in your favorite metallic finish, then accessorize the countertop with a pretty tray or vase.

3. BLACK ACCENTS

Though hardware and faucet finishes are one way to try this trend, you can also go with deep-hued vanities, black accent walls and even plumbing fixtures. Used sparingly, black accents can provide a pop of contrast in a traditional white bathroom. When applied liberally, black accents help foster a glamorous vibe.

4. NATURAL TONES AND TEXTURES

As homeowners seek to create a calming space, subtle natural hues are on the rise. In addition, natural materials like wood and marble blend beautifully with a wide range of color palettes. Whether you prefer a minimalist Scandinavian look, a rustic farmhouse vibe or a traditional feel, natural tones and textures work well with a variety of design styles. To help modernize the space, incorporate a small dose of black to ground the look.

5. DOUBLE VANITIES

As the average house size increases, bigger master bathrooms mean more opportunities to incorporate convenient design elements like double vanities. Although double sinks can reduce the amount of usable counter space, many manufacturers are now addressing that issue with creative storage solutions. Vanities outfitted with power outlets, full-extension drawers and custom holders for grooming tools can help minimize clutter and make the most of limited space. Side-by-side vanities are another stylish choice with numerous customization options.

6. LARGE SHOWERS

When space allows, homeowners are ditching the shower-bath combo and opting for a walk-in shower and equally luxurious tub. A larger shower area presents ample opportunity for introducing customization and spa-like extras. Add an element of luxury with built-in storage niches or a teak bench lined with pampering products.

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5 FACTS ABOUT SELLING A HOME IN THE WINTER

BY DIXIE SOMERS

Can’t wait until spring to sell your home? Winter can be a tough time to attract buyers, particularly if you live in a region where there’s going to be ice and snow all around. Your home may not show as well in bad weather; however, it is possible. Here are some winter real estate facts to keep in mind:

Everyone Appreciates Mood

Create a cozy feel by adding extra pillows or afghans to the sofa and beds, or some plush throw rugs on the floor. Leave the dining room table set for dinner, along with a champagne bucket and a couple of glasses. Add some extra-flu y towels or robes in the bathrooms. In short, make everything look comfortable and inviting.

Bright Light Is Cheery

There’s nothing that makes a house cheerier than sunlight. Wash the windows inside and out so they sparkle. Pull up the blinds and throw back the drapes for some warming illumination. In darker corners and niches where the sun won’t reach, place a lamp and keep it on. You could also use spotlighting to illuminate major features of the kitchen, living room or bathroom.

Warmth Is Comfort

People coming in from the cold will be pleased to find your home is warm and toasty. As a retreat from winter cold, your buyers will have more of a reason to feel comfortable and take their time. You might consider lighting a small fire in the fireplace or wood stove to keep things toasty. Try to keep indoor humidity between 4060 percent to avoid that dry, stu y feeling.

People Like an Orderly Property

In the winter, all visitors may see is a blanket of snow (depending on where you live). Do your best to keep the driveway and walkways neatly cleared and free of ice. Even if there’s just a light dusting of snow, sweep it away. Spread some sand over walkways to avoid slips and falls. Try to keep the roof clear of snow, as well, as a good roof is important to selling any home. You can always call in a roofing company if yours isn’t up to par.

Winter Can Be the Ideal Season

You’re more likely to get bids faster in the wintertime because you’re dealing with motivated buyers. They need to move, and soon, or they’d be waiting for the balmier temperatures of spring. You may get fewer visitors, but they’ll be serious buyers, not just frivolous house-shoppers. Stage your home well for the season and you may very well sell faster, and for a higher price, than you expected.

You always want to keep your home clean and in good repair, but the trick to selling in winter is creating the e ect of a warm, sunny retreat from the elements.

Dixie Somers is a freelance writer and regular contributor to RISMedia’s Housecall blog. Reprinted with permission from RISMedia. ©2018. All rights reserved.

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