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Mistake #1: Buying Too Much Home

Before house hunting, it’s a good idea to get pre-approved for a mortgage. When you’re pre-approved, you’ll know exactly how much you can afford to spend on a home.

Your mortgage broker is going to tell you the maximum amount you can spend, but keep in mind, that doesn’t mean that you should spend the entire amount.

Take some time to crunch the numbers and see if you can afford the mortgage payments on a monthly basis.

You’ll want to leave yourself some financial breathing room in case mortgage rates go up or you run into a financial emergency.

Mistake #2: Forgetting to Budget for Closing Costs

If you’ve never bought a home before, it’s easy to overlook closing costs.

They’re just a drop in the bucket, right? Wrong. Closing costs can add up to four percent of your home’s purchase price.

Mistake #3: Buying Based Solely on Looks

Have you ever stepped foot inside a house and it became love at first sight? You see everything you’re looking for in a home: granite countertops, stainless steel appliances and an open kitchen. You’re ready to make an offer right then and there.

But before you do, take the time to look at the bones of the home.

I’m talking about the roof, windows, furnace and structure. Anyone can install a new backsplash in a kitchen or toss some fresh paint on the walls, but replacing something significant like the roof can cause a lot of heartache. 

Mistake #4: Skipping the Home Inspection

In red-hot housing markets, a new trend is for homebuyers to skip home inspections. And it makes perfect sense – when you’re competing against 10 other buyers for a house, including too many conditions can cost you your dream home.

What’s worse than losing your dream home? Winning what turns into your nightmare home.

For example, the home could have flooding issues. But if you don’t know the signs to look for, you’ll miss it. That’s an expensive mistake.

If you’re worried about including the home inspection condition in your offer, consider getting a “pre-inspection.” That’s a home inspection before you make an offer. That way you can make an offer with the confidence and peace of mind that you’re buying a rock-solid home, not a money pit.

Mistake #5: Not Shopping Around for a Mortgage

We comparison shop for everything from televisions to vacation packages, but so many people just take whatever mortgage their bank offers them.

There’s nothing wrong with your local bank branch being your first stop for a mortgage, but it shouldn’t be your only stop. By just taking the first offer, you’re likely leaving money on the table.

Buying a home is quite possibly the single-biggest financial transaction of your lifetime

Your local bank may have the best mortgage, but you won’t know for sure without shopping around. And the best way to do that is with an experienced mortgage broker

• Allan Harder – January 2018

Whether your are buying or selling, it is very important that you research the Realtor that you choose to help you. Before signing a listing contract, take the time to meet with a few Realtors to see if they are the right fit for you. You do not have to sign with the first Realtor that walks through your door – do you homework and make sure that they are willing to work for you – and your home. We have compiled a list of questions to help you interview prospective Realtors.

1. What are you going to do to entice buyers to view my property? Advertising is a key weapon in every agent’s arsenal. Where are they going to advertise, how often, what is their target market? Besides their sign on your front lawn, what else do they utilize for marketing?
2. Will my home be marketed on Realtor.ca within days of signing the listing contract, or will I have to wait a period of time before this happens? Many buyers start their search by using this tool.
3. Do you hire a professional photographer to photograph my home for marketing, or do you take the pictures yourself? A well photographed property communicates value to the prospective buyer – blurry, dark photographs do not do their best to communicate how inviting and bright a space can be. Buyers may skip over your property because of this.
4. Open Houses – yea or ney? Realtors have differing opinions on open houses. It is all personal preference, but it is important to discuss with your potential Realtor their views on this.
5. Comprehensive Market Evaluations – How does your potential Realtor plan to ensure that your home is properly priced? Do they pull a number out of a hat, or do they do a search for comparable properties in your area? Making sure that your Realtor provides you with as much information as possible to properly price your home is crucial.

Choosing an Realtor is an important decision. You want someone who represents YOUR interests first and foremost.

Every transaction is unique and so is every property.  A properties location alone makes it unique.  What amazes me is the vision that some people have to look at something unwanted, that everyone considers junk and see something spectactular they can do with it.  These visionaries sometimes miss the obvious the obvious things in their vision. and I guess that’s where I and other true professionals come in to help.   There are certain things that should be looked at when you are buying a property.

1.  The property itself in the full light of day.  Some inspectors will say the best time to look at a property is during a downpour.  I don’t think you have to go that far but I have been amazed when I’ve looked at a property at night and it looks fabulous and when we come back during the day we really see it for the dog it is.  Especially the destroyed landscaping in the back yard because apparently the owner house sits pit bulls for friends.

2. The area around the house. This may sound simplistic but in commercial real estate locational analysis is very important.  You’ve heard the saying location, location, location and the importance that is put on location.  If you are new to an area you should drive around that area and get to know what the neighboring properties are like.  Are they similar or inferior?  Is this area improving, disintegrating or stable?  How do you access the property? Is there a bus stop right out front?  The best research you can do is your own reconnaisance.

3. The title.  Looking at this document without someone who understands it might be frustrating or simply a feeble exercise, but the title tells you the property’s current to reasonably current state.  In fact this defining document can tell you so much about a property it deserves its own seperate article.

4. Any MLS® history you can find about previous sales – times it was on the market before.  It may not be relevant now but I don’t care about that.  I’d want to see it if I were buying the property.  It might tell me something interesting, like this property has taken a year to sell almost every time someone has tried to sell it, or it just 2 months ago for 100,000 less.  I might still buy it but it may affect my eagerness to buy it.

5. Any area and comparable sales.  Going around looking at houses is not enough!  Values can change significantly by just crossing the street.  Go one direction and values go up, go another and they sink like a stone.  It is easy for the uninitiated buyer to look at a home that is $50,000 more than another one they just looked at and say its over priced, go back and buy the other property thinking they stole a deal only to realize too late that there is a significant difference in the location.

Any Realtor® can and will show you this information.  A good one can interpret it for you and help you make a far more informed decision.

It has happened many times in this market that I have shown a client a home they love and we have pulled over in my car, pulled out my lap top, hooked up my portable modem and downloaded this information.  In some cases it has put people at ease and in other cases it has raised some concerns that changed their offer strategy changed or they decided not to pursue the property.  In the end it’s your cheque and if you’re going to make an offer and buy the property anyway, you might as well see this stuff, it could mean the difference between a great decision and a decision wrought with regret.

Building a fence around your property has many benefits. A solid fence is both decorative and practical as it adds attractiveness, security and privacy to your yard. A fence will provide your family with a safe and secluded outdoor living space for your entertaining, relaxing, gardening and for your children to play in. An attractive fence will also increase your property value and make your home more marketable when it comes time to sell.

Hiring a fence contractor will ensure your fence is built properly and that all local regulations and building permits are obtained for the project. Alternatively, you could choose to build the fence yourself. Here are some DIY tips on how to build a fence:

Obtain a building permit.

In most municipalities you will need a building permit to build a fence, but in others you might not. All jurisdiction’s will have a zoning bylaw that puts regulations on the height, material and location of your fence. You can check with your local municipality to see what the local regulations and restrictions are.

You should also check with your neighborhood association, if you have one, to ensure you are compliant with their restrictions as well. The last thing you want to do it tear down a fence after learning it wasn’t compliant with these regulations.

Call before you dig!

Regardless of whether you need a permit or not, you should book a visit with a “Call Before You Dig” organization like Alberta One Call to make sure you are not building or digging near electrical, gas, water or sewer lines. They will send someone out, free of charge, to mark where your utilities are in the yard so you can be sure to steer clear of those areas.

Choose a fencing material.

You have some options when it comes to what you’re going to use to build your fence. The most popular material is wood fencing, usually a durable pressure treated lumber, but you could choose to go with PVC vinyl, aluminum, wrought-iron or chain link fencing. If you are choosing wood, some lumber companies offer pre-cut fencing packages and can give you some tips on construction and design.

Stake out where you will build your fence.

Check your land title and be sure you find your property line so you don’t accidentally build your fence on the neighbour’s yard. Stake out the corners where you want your fence to go and connect the stake’s with twine to ensure your fence is outline is square. Use a level on the twine to ensure your stakes are squared and do the same for your middle posts.

Dig post holes and install your fence posts.

Your municipality will have let you know how high your posts need to be and how deep your post holes should be too. In Alberta’s climate, you’ll have to dig deeper than the frost line which is 3 feet deep, but some jurisdictions might require you to dig deeper than that. Save yourself the back-breaking work and rent a power auger to dig your post holes.

Then put 3 to 4 inches of gravel at the bottom of each hole before inserting your post. Make sure it’s lined up properly by using a post leveler and check your post height. Either have someone hold it for you or support it with boards nailed to the post near the bottom, supported by the ground. Then pour in your quick cure concrete mix into the hole until it’s about two-thirds full. Keep the boards on to support the fence post until the concrete is cured. Then fill the remainder of the hole with dirt.

Build your fence!

Tie a piece of twine from one end post to another at the same height. This will act as a guide to make sure you line up all your fence boards at the right height along the top. Make sure your fence boards aren’t touching the ground, they should be elevated a few inches. Then screw in your horizontal support boards. You might need 2 or 3 depending on your fence height. Once the horizontal support boards are in place, start installing your vertical boards, spacing them about ½” apart. Use galvanized screws over nails as they last longer.

Stain or paint your fence.

Staining or painting your fence will help it look finished and make it more weather-proof. You can choose a simple stain or paint your fence to match the design of your home and yard. Painting will also help hide blemishes in the lumber, but will require more regular maintenance over the years so be prepared to commit to that if you want to paint.

Do you believe in ghosts? Would you buy a house if you thought it was haunted? What if someone was murdered in the property? What if the former owner was a convicted criminal?

A stigmatized property is defined by RECA as: one that has an unfavourable quality that may make it less attractive for reasons that are unrelated to its physical condition or features. Examples of stigma issues may include: a suicide or death in the property, the property was the scene of a major crime, the address of the property has the wrong numerals, or reports that a property is haunted. What one person finds unacceptable may not be a stigma to another.

Sellers don’t have to disclose peculiar or disturbing facts or circumstances about their home…. unless you specifically ask.

We’ve worked with many clients that have had specific but unusual house hunting requirements, some have required a home where no one had died in the property, some wouldn’t live near a cemetery and there are many others.

For example, if you’re concerned that there may have been a death in the property, what would cause you specific concern?

• Would you find a death caused by a violent act or suicide unacceptable?
• What if the family brought an elderly grandmother home to die in the comfort of her family and familiar surroundings?
• Suppose it were a crib death of a newborn?
• What if you learned the owner’s pet had recently died in the home? Would you feel differently if the death was natural or if poison was suspected?
• Would you be concerned if a person had been killed by a car on the street in front of the house?
• Would you be as concerned by a death that occurred 50 years ago as you would with a recent one?

The important thing to remember is that just because it’s important to you, doesn’t mean it’s important to everyone, so you need to ask. When we’re helping someone find a house, we have an extensive questionnaire they can complete, to help identify their wants and needs, so we can ask sellers the right questions.

So if you don’t want to live in a home where a murder took place, and you specify that with your agent, they can ask the seller’s agent, and the seller is obligated to answer honestly.  But if you don’t ask, they’re not going to tell.

Moving to a new home can be tough. Moving to a new home that’s in a new city can sometimes feel overwhelming and – admittedly – impossible! But have no fear. Even though there is a lot involved with moving to a new city across the country, it’s manageable. Follow these tips to learn five essential things you need to do in order to move long distance:

• Stay organized. If you’re going to accomplish this feat without a ton of stress, you absolutely must establish a timeline. Begin by listing everything that needs to be done before the move. Then, consider how far in advance each of these list items must be completed. Finally, place each item on the calendar and mark them off as you finish them.
• Anticipate delays. Part of staying organized is having a Plan B in case your Plan A doesn’t work out. Remember, sometimes things take much longer than you think they should. Build padding into your schedule so you are not working down to the wire – that only causes stress! Furthermore, make sure that each member of your family packs an essentials bag filled with necessary toiletries, food, and clothing.
• Build a budget. Moving can be costly, but it’s possible to move without breaking the bank. Begin thinking about your budget by considering what it would cost to do everything the way you want. Look for moving calculators online and get quotes from a variety of moving companies to decide how much certain things would cost.
• Realize you need help. From packing to getting your belongings from Point A to Point B, moving is a lot of work. That’s why you shouldn’t do it alone. Organize a packing party so your friends and family can come assist you with packing up your stuff. Or consider hiring a moving company to pack your belongings, as well as provide extra services like assembly/disassembly, transporting, unpacking, loading/unloading, and more.
• Prep the entire family. If it was just you moving, things might not be so complicated. But if you’ve got kiddos moving with you, it’s likely you’ll have some pushback – and more complications in general. The best thing you can do is have a sit-down with everyone in your family and chat about your moving plans. Allow the kids to ask questions so they fully understand the reasons for moving, how the move will work, etc. Finally, give each family member a job so everyone can feel invested in the move.

Moving long distance doesn’t have to be hard. Stay focused, do your research, and get organized – and you’re sure to have a successful move.

Real estate transactions almost always require a current Real Property Report (RPR).

An RPR is a legal document an Alberta Land Surveyor prepares. It’s basically a high level drawing of the property, the boundaries, and the buildings and structures on it, so buyers know exactly what they’re buying.

An RPR contains:

• legal description and municipal address of the property
• date of land title search and date RPR was done
• Certificate of Title (land title) number and names of registered owner(s)
• location and description of all buildings and structures (e.g. decks, fences) with dimensions, directions and distances from the property boundaries
• location and dimensions of any visible encroachments (i.e. buildings or structures that are too close or even beyond the property line)
• designation of adjacent properties, roads, lanes
• evidence of municipal compliance (i.e. the RPR has been reviewed by your municipality and adheres to all municipal bylaws and regulations. They usually stamp and date compliance directly on the RPR)
• illustrations of any easements that affect the property (an easement is an agreement between the property owner and some other party (usually your municipal authority or utility) for them to utilize part of your property as needed)
• Certified Land Surveyor’s duly signed certification and opinion on any concerns
• copyright of the RPR to the land survey company

Sellers
The standard seller representation agreement used in Alberta requires sellers to provide a current RPR to the buyer, unless otherwise agreed to by the buyer. In most transactions, a buyer’s lender and lawyer require a current RPR to complete the transaction.

A current RPR allows everyone involved to know if there are any issues with encroachment, easements or non-compliance with municipal bylaws.

A current, compliant RPR allows sellers to:

• meet the requirement of some seller representation agreements and purchase contracts
• know the location of the property boundaries and improvements
• know the measurements and distances for the property and improvements
• know any issues with the property or adjacent properties
• receive advice from a real estate professional concerning any property issues
• address compliance issues early in selling process before a sale

Existing RPRs
If you have an existing RPR, you can sign a Statutory Declaration or Affidavit stating the existing RPR is accurate and the property hasn’t changed since the RPR was prepared.

If there have been changes, you can contact the surveyor to see if they can update the existing RPR. If there have been changes, only an updated RPR with a compliance stamp can confirm the property complies with municipal regulations.

Your real estate professional can also help you find a surveyor if the one on the existing RPR is not available.

Compliance
Surveyors are responsible for completing the RPR, but they do not determine if the property is compliant. You have to go to your municipal authority, in person, to obtain a compliance stamp.

Before the municipality stamps your RPR, it will look for non-compliant issues, including:

• Encroachment: If a structure encroaches on adjoining property, you and the adjoining owner may enter into an encroachment agreement. In order to do so, the owner of the other property has to agree to allow the encroachment. The parties register the agreement on their property titles. If the adjoining owner doesn’t agree, you may have to remove the encroaching structure.

• Relaxation: If a structure is too close to the property boundary or over an easement or utility right-of-way, your municipality may grant a relaxation to allow it to remain. This will usually require a relaxation permit, for which your municipality will have to conduct a further review and may require additional information such as photos of the structure and an extra permit fee. If the municipality does not grant the relaxation, you may have to move or remove the structure. As part of the sale, the buyer or lender may require a holdback of part of the purchase price or mortgage proceeds until you have a relaxation permit.

If you cannot resolve non-compliant issues before the sale closes, title insurance may be an option to enable the sale to close on time.

Buyers
Most standard residential purchase contracts require the seller to give the buyer a current RPR with a municipal stamp of compliance. Your lender will typically also need an RPR for your financing.

Benefits to buyers include:

• knowledge of the exact property boundaries
• knowledge of issues with the property or adjacent properties
• knowing if a property can have further developments or improvements
• a current RPR on hand for when you sell (as long as you didn’t build anything new in the meantime)

Typically, sellers are responsible for resolving RPR issues before the sale closes.

An RPR should be available to you before you write a purchase contract. If it isn’t, your real estate professional can advise you of your options. You, or your lawyer, must have a reasonable opportunity to review the RPR before the property title transfers and the purchase funds are advanced to the seller.

What is radon gas?

Radon is a cancer-causing, radioactive gas that comes from the ground. You cannot see or smell it. When inhaled, radon breaks down into further radioactive particles, releasing burst of radioactivity that can cause injury to lung tissue. Exposure to high levels of radon causes lung cancer, the second leading cause after tobacco smoking.

When it gets into homes through places where the house comes into contact with the ground, it can accumulate into high levels and pose a health risk to home occupants. The level of risk from radon exposure depends on how much radon one is exposed to and the length of time of that exposure. Your risk of developing lung cancer is especially high if you are a smoker and are also exposed to high radon levels.

The only way to find out if your home has high levels of radon is to have your home tested. A reading of 200 Bq/m³ or higher indicates that you should reduce radon levels.

How to reduce high radon levels in homes

High levels of radon can be successfully reduced by installing a radon reduction (mitigation) system. Typically, this involves installing a vent pipe that exhausts radon from underneath the house to outside, preventing it from getting into the house. Such a system is a one-install solution that becomes part of the house systems, just like a furnace or water heater.

The type of radon mitigation system depends on the construct of the home where the house meets the ground. Homes with slab foundations are typically mitigated by installing the vent pipe through a hole made in the foundation slab (also known as active sub-slab depressurization or ASD). This method has been shown to reduce radon levels in homes by an average of 91%.

In Canada, radon is recognized as a health risk. Despite radon exposure being responsible for more deaths (more than 3,000 per year) than carbon-monoxide (50 per year), awareness levels still remain low among Canadians. However, various prevention strategies have been developed, included changes to building codes.

New Alberta Building Code requirements to protect against radon

The Alberta Building Code 2014 has adopted new requirements to protect new homes from radon. These requirements came into effect on November 1^st, 2015. The aim of the requirements are to minimize radon entry into homes, and to provide for a radon mitigation rough-in pipe to make it easy to install an effective radon reduction system should testing reveal the presence of a high level of radon.

The new building code requirements relating to radon require new homes to be built with the following features:

• Gravel sub-membrane layer: allows for proper venting of the whole sub-floor from suction through one hole should an active mitigation system be installed (vent pipe with a fan).
• Poly-membrane beneath the slab: provides an air-barrier that minimizes radon entry.
• Proper sealing around wall-floor joints: requires sealing up to the foundation wall to minimize radon entry
• Properly sealed and labelled radon pipe: the radon pipe should at least 100mm in diameter and should run underneath the floor up to the mid-point of the home. Sealing the pipe prevents inadvertent radon entry. Labelling clarifies purpose of pipe to prevent inappropriate use, like hook up a toilet.
• Properly located radon rough-in or passive pipe: makes it easy to access and install an active system, should one be required.

These requirements apply to homes where the building permit application was received on or after November 1^st, 2015.

What you will see in new homes

If you are buying a new home built according to the new standard, you should expect to see a sealed and labelled rough-in radon pipe in the basement.

It is important to note that this is not a mitigation system. It is a rough-in mitigation pipe that can be linked to a radon mitigation system should it be needed in the future.

While the building code provisions will greatly reduce the chances of radon getting into a home, it is impossible to prevent radon entry completely. Radon is a gas – a million radon atoms can fit into a hole the size of the width of a human hair. It may still find entry into a home despite best preventative efforts.

Homeowners should understand that they should test their home for radon to decide if they need to complete the radon mitigation system. If testing reveals high radon levels, a mitigation system can be activated on the rough-in by extending the rough-in with a vent-pipe and a fan to discharge radon outside of their home.

There are important considerations involved in properly installing an active mitigation system that is effective, efficient and long-lasting. Homeowners should look for a mitigation professional that is certified by the Canadian National Radon Proficiency Program (C-NRPP) to complete the job.

Ultimately the rough-in reduces the time and effort required for installing an active mitigation system, thereby reducing costs associated with radon mitigation.