Mike Bolger REALTOR® in Kitchener / Waterloo

People who can afford their mortgage payments but cannot afford anything else are called House Poor. You don’t want to find yourself in this situation. Buying a home that you can't afford will place significant restraints on your financial life. Here are some things that can assist you in finding a house that you can realistically afford. The first affordability rule, as set out by the Canada Mortgage and Housing Corporation (CMHC), is that your monthly housing costs that include the mortgage principal and interest, taxes and heating expenses (P.I.T.H.) should not exceed 32% of your gross household monthly income. For condominiums, P.I.T.H. also includes half of your monthly condominium fees. The sum of these housing costs as a percentage of your gross monthly income is your GDS ratio. What is your GDS ratio and can you pass the mortgage stress test? Use this mortgage calculator , no more than 30% to 32% of your gross annual income should go to "mortgage expenses&quo

Smart home upgrades are the most popular craze this year and home buyers want them. Research done from the Washington Post says that 65 percent of buyers, specifically millennials, are prepared to spend more on homes that are equipped with smart devices. Today’s definition of a move-in ready home has changed. It isn’t really about fresh paint and refinished hardwood floors any longer. An increasing amount of buyers do not consider a property “move-in ready” until it’s set up with smart gadgets. It is vital to understand that upgrading your home with smart devices is a must. Buyers want permanent gadgets and favor upgrades that stay with the home after you sell it. The most desirable upgrades have these features: Temperature control Security and safety Convenience Compatibility with mainstream voice control devices  You do not have to spend a bundle of money to make your listing more interesting. The good news is that many of these devices are sold for under $300