With the last days of summer drawing near, you are probably on the lookout for a new project. You are wondering what you could do or work on and suddenly it comes to you: your home. Whether you plan to buy, sell or renovate your home, National Bank has a range of financing products to help you out.

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Mortgage loans1

If you are looking for peace of mind, you may want to consider a fixed-rate mortgage with set monthly payments for the entire term of the loan. Not sure what is best for you? Try a made­to-measure mortgage, where part of your loan is financed at a fixed rate and part at a variable rate.[……]

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We often forget them, but they can provide an important service. Why not resort to an architect when the time comes to do major renovations? Such as expanding a house.

Of course, an architect will increase the cost of the work, but keep in mind that, in most major renovations, your property will increase in value. So why not increase this value as much as possible? Especially if it involves adding space to a house.

You don’t have to call upon a renowned architect. A student fresh out of university will do just fine.

Don’t be afraid to seek knowledge elsewhere when you want to renovate a house. An architect is a professional who has this knowledge.

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First advantage: you can talk to the architect before starting the renovation project and throughout the process, which removes a great deal of stress. You will feel less alone.[……]

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From stripping the African hut, the cradle of humanity, we have , we have switched to decorative abundance throughout the centuries. In 2015, we have the impression of going back to square one as we progress toward the world of tomorrow. We are stripping things down again. The living room is no exception.

Living room decor will be marked by simplicity, but without austerity. In fact, tomorrow’s living room will have more of a lounge atmosphere. And God knows how much the lounge style can burst with beauty and freshness!

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Screens on the walls, futuristic furniture, projectors and recessed lighting, tomorrow’s living room will go from the contemporary style to a more dazzling style. Everything will be designed, from the bookshelves to the staircase.[……]

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Get to know these four people when buying a home. Assemble your dream team for a winning result.

Whether you’re a first-time homebuyer or getting ready to buy your second or third place, making a move can be exciting. But, it also can be intimidating and a bit overwhelming when you consider the many steps you need to take before picking up your new keys.

Fortunately, it’s a lot easier when you work with professionals who know the ins and outs. So consider reaching out to these four individuals during the home-buying process.

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  1. Real estate broker: You may think looking for potential homes is something you can do on your own. However, first-time buyers and even more experienced buyers can benefit from hiring a real estate professional. They can help you find listings that specifically fit your criteria, including listings that may not be advertised, as well as provide insight into the market. Plus, they can help you negotiate things like price, the date you can take possession and any extras you want included like repairs, furniture and appliances.
  2. Lawyer or notary: A lawyer or notary may act as an advocate on your behalf throughout the home-buying process. They will help coordinate everything from drafting and negotiating the contract of the sale to examining inspection reports and mortgage documents. Hiring a lawyer or notary early in the home-buying process can save you time and risk.
  3. Home Inspector: It’s to your benefit to hire a home inspector to look over the home before you buy. A home inspection may cost an average of $450 (may vary by province). But it’s often money well spent, because a home inspector can alert you to issues you may not see on the surface, like problems with the roof, plumbing, electrical, heating or cooling, windows and doors and foundation. Make sure to hire a certified home inspector, ideally with a background in engineering and experience doing home surveys in the area where you are buying.
  4. Mortgage Specialist: Last, but not least, having a working relationship with a trusted mortgage specialist is essential during the home-buying process. He or she can help review your finances and determine a price range that is realistic for your budget, as well as help you decide what type of mortgage is right for your situation and how much you can afford for a down payment.

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You’re sick of your home office. You’re often being bothered or your space is poorly structured. You decided to dedicate part of your vacation to renovating your workspace, or possibly even creating it if you have just joined the ranks of the self-employed.

The door to your office isn’t insulated enough? There is a draconian solution: take the office out of the house, which is something many people have done. Some have even renovated a room near the family home, even if it involved paying rent.

Why not convert the shed into a workspace? That was the solution for author Roald Dahl (Charlie and the Chocolate Factory played by Johnny Depp in the movie) and Russian writer Anton Tchekhov, who set up a pavilion behind his property.

You could also use the garage. Some self-employed workers have also set up their offices there.

A less radical solution: build an outside door and cover the one that connects to the inside of the house.

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You have to expand the space between you and your family, your friends and your neighbours, who will not hesitate to travel the short distance to go and bother you.

If none of these ideas work for you, try the attic. It’s a space worth considering. Self-employed workers often take refuge in the basement. However, it’s harder to go upstairs than it is to go down. Your entourage will be less inclined to bother you.

If you want to keep your current office. Add a separation between you and your entourage. It could be a screen, a glass partition wall or even a bookshelf that covers the wall. The more massive it is, the more efficient it will be.[……]

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Who said that home offices had to be ugly? A tour of offices in large companies showed us that times have changed. Work spaces are being redesigned, colour is being added and clutter removed.

Look at your children registered for post-secondary studies. They have no qualms about decorating their offices. Increasingly limited by self-employed workers, they let their personalities shine through the decoration. By doing so, they are setting up a work space that is likely to inspire and motivate them.

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Your home office is more than a workspace. It’s a refuge where the only dictatorship allows is efficiency. After all, environment is one of the key factors in work.

If you prefer a stripped-down office, or if your office is as exciting as a room in a monastery and you feel good and are efficient in your work, stay on the same path.

If not, let your imagination run wild.

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The wall is the first thing to think about, since that is usually the first surface you look at outside your workstation.[……]

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Here are the answers to your questions about mortgage loans.

What is the minimum down payment?

You need to put down at least 20% of the selling price to qualify for a mortgage. If you don’t have 20%, you can take out mortgage insurance and you’ll only need to put down 5%. In both cases you need to prove you have 1.5% of the selling price to cover start-up costs.

How can some builders have properties for sale without requiring a down payment?

Some builders do offer Canada Mortgage and Housing Corporation (CMHC)-approved programs that don’t require a down payment. However, the programs usually have very specific eligibility criteria and the down payment is often just delayed.

There are really only a few exceptions to the legal requirement to make a down payment when buying a property. The best way to lower your down payment is to insure your mortgage with CMHC or Genworth. Insurance can get your down payment to 5%.

As with traditional mortgage loan insurance, every down payment has to come from the buyer’s own resources or close relatives.

Debt-savvy buyers can put 5% down and access many resources, including a loan or lender incentives, as long as the down payment is from a source that is arm’s length to and not tied to the purchase or sale of the property. Contact your lender to see if they can offer you mortgage insurance and if you’re eligible.[……]

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