Laura Barker -Your Rural Girl Blog

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on March 28, 2019

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Should you Loan Your Kids a Down Payment?

Parents come to me all the time wondering if they should help theirs kids get a start in life by loaning them a down payment for their first home purchase. Should they gift or loan them money? The answer to this question is maybe. Getting a start in the housing market can be very difficult for kids. Gone are the days when the local bank manager can be of any help when it comes to knowing the family and giving someone a recommendation to get them approved. These days kids require perfect credit scores, credit history, low or non existent debt plus job longevity. The final decisions are made in large financial centres like Toronto. Also to be considered, are the income to debt ratios and whether they will require mortgage insurance. Phew that’s a lot to handle. I have seen many parents succeed in loaning money but it has to be handled in a businesslike way in order for the kids to realize just how fortunate they are and how careful they must be. There are various ways...

WHY SELL IN THE WINTER

I hear it all the time. “I should have my house ready to list by spring when the grass is green”. A myth that many home sellers believe, is that is you should wait until Spring to put your property on the market. In fact there are many advantages to listing in the Winter. Selling your home in the Winter attracts a different type of buyer. It also enables me to do some different types of marketing. Here are my top 12 reasons why Winter is the time to sell. For even more reasons give me a call! 1. Many people wait for spring which translates to more selection for the buyers. More inventory or homes for sale in the spring means more competition – not good if you’re a Seller . 2. Buyers who take the time to put on their winter boots, toques and mittens to go house hunting are serious. They aren’t just nosy Nellies. They are motivated and ready to make a move . 3. January is the biggest month for company relocations. Is it bec...

Should you Buy a Condo?

Rural Girl Tips- Should you Buy a Condo? “ I don’t want to pay condo fees!” If I only had a dollar every time I hear that line. My suggestion when I do? Lets sit down and do the math. Condos aren’t for everyone, but for some people they are really a fabulous alternative to owning a home. These are my reason’s to consider this option: • LOCATION: Condos are located close to main roads, bus routes and local amenities. Suite owners can often walk to run errands, dine out and shop. Some Condos are so well situated that purchasers own vehicles by choice, rather than necessity. • DESIGN: Space is designed well in condos to allow you to use each room. People generally love the layouts. Developers are designing to maximize square footage. We see lots of main floor open concept layouts with everything you need on one floor. • AMENITIES: Some condos off common areas which are very useful. They are, in essence, extensions of your living space....

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