Mike Bolger REALTOR® in Kitchener / Waterloo

You have established the numbers of what you can afford as you look for a new home. You have researched the neighborhoods that you like, and now you are ready to work with a REALTOR®. But which one? There are tons of them out there in your region. Now is the ideal to ask lots of question to determine if they are the right professional REALTOR® for you. As soon this process is complete, you can now concentrate on your search. Now you found a few properties that you like; you will want to ask your REALTOR® to ask these six questions to the seller's agent.  Why are the owners selling? This question will give you facts on two things: significant flaws or if someone is moving for a job or going overseas.  This information is necessary to find out if they are motivated to sell quickly. Some REALTOR®s might be unwilling to share this information because it's personal for their client. If you get an answer that makes sense,  move forward to the next questions....

Being a first-time homeowner can be one of the most exciting and stressful times of your life. Now you have a whole new set of challenges ahead.  There are a lot of opportunities to learn as you go and unfortunately mistakes will be made. Many new homeowner mistakes can be avoided by doing some preparation. Don’t let the following newbie mistakes damper your excitement. Be proactive and plan ahead by using these tips and tricks below to help you learn the ropes of being a homeowner. Ignoring Routine Maintenance You likely did a walk-through with a certified home inspector, so you’re alert to what issues you’re your attention, and that can wait.  House maintenance includes many jobs you might have never considered before, like power-washing the home, cleaning the gutters, and prepping your pipes for the winter. The easiest way to avoid costly damage is to create a quarterly or monthly maintenance schedule for all the areas of your home. You should include interi...

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...

For some people who are looking for a home, they will get impulsive. First-time buyers searching for their dream home have to be cautious. There are several fabulous houses on the market in Kitchener and Waterloo which have wonderful neighborhood potential and adequate curb appeal. On the other hand, few individuals will stop to think about what lies below their possible new home. People who underestimate the home’s foundation can have their dream of property ownership turn into a major problem. People must look over and above the design to prevent disaster or foundation repair later on. One important aspect when inspecting a house for sale is its foundation. An insufficient foundation may not be seen from the road. If the bad foundation goes without repair, curb appeal won't be high on the owner’s priority list. There is certainly a great deal more at stake if gone unchecked. A low-quality foundation will badly affect you in the future. You should partner with a real estate pr...

Who's looking out for the Millennials? Great article by the Toronto Star on the effects of our real estate market and Millennials. According to the Toronto Real Estate Board, the average price of a GTA home is expected to rise by double digits again this year, hitting a new average of $825,000. Millennials say that owning a home is more difficult now than it was for their parents. Provincial and municipal governments need to step up with better solutions to ensure that the dream of home ownership does not slip away from future generations. Check out the link for full details. http://on.thestar.com/2lO1zBR #Millennials #GTA #Toronto #MikeBolger #ColdwelBanker #RealEstate #BuyingANewHome #BuyingaHouse