Tag Archives: advice

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Win-Win Negotiation

What do you think is the ultimate goal when negotiating a property purchase? Is it that the buyer does everything in his or her power to get the lowest possible price? Or, is it that the seller gives his or her maximum effort to get the highest possible price? Or, is it none of these answers?

One day, a retired multimillionaire businessman told us what he missed the most about negotiating. His greatest satisfaction was to conclude an agreement where both parties were content. That is exactly what property buyers and sellers should aim for: closing a win-win negotiation.

It is useless for buyers to push sellers against the wall and force them to give up their property for an unsuitable price. This attitude rarely leads to good results. Conscientious buyers not only think about their own interests, but they also think about the sellers’ satisfaction. Continue reading

Heating and lighting: Can you bring down the cost?

In Canada, winter is synonymous with snowy landscapes, cold-weather sports… And soaring electricity bills. What if you could make changes to your house, or plan the construction of your next home to reduce the amount of energy you consume? From little fixes to major work, here’s how you can make your house more eco-friendly, increase your comfort level and save on heating and lighting.

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Adopt eco-friendly habits

“If you want to reduce your energy bill, your priorities should be ensuring that the house is well insulated and replacing energy-sucking appliances,” explains Martin Lambert, Founding President of Ecosolaris. “It always costs less to invest in conserving energy rather than producing it.” Guilty parties include incandescent light bulbs, which could be replaced by LED lighting, and old appliances that you’d be better to replace with Energy Star-certified appliances. Products that carry this certification are required to meet strict technical specifications related to energy efficiency and are tested extensively before being certified.

“Control systems can also be a good way to save,” adds Brian Wilkinson, President of Energie Matrix Inc. “A smart thermostat that can be controlled remotely could save you up to 20% of your electricity bill.” Continue reading

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Which Property Should You Choose?

Sometimes, buyers are faced with a difficult decision. They have already crossed out a large number of properties on their list, but two or three are still remaining. Now for the final elimination round. Which property will it be? Need some advice?

  • Ask your real estate broker. If your home search process was rather long, your savvy broker was able to identify your needs and personality because he or she has gotten to know you.
  • You would be willing to live with some constraints. Others, not at all! They would make your everyday life miserable. Learn to recognize them. Be honest with yourself.

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How to Absorb the Interest Rate Hike

It was bound to happen one day. The Bank of Canada decided to raise its interest rates on July 12th for the first time in years. Every large bank followed suit the next day. It is now time to revise your budget accordingly.

This first hike does not mean there will be a second one on September 6th of this year, and that the interest rates will keep rising afterward. But, better be safe than sorry, especially given the fact that the total Canadian household debt has reached a record high.

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The Bank of Canada is anticipating an increase in the inflation rate. CIBC Bank economists, who issued the “Canadian Inflation: What’s Gone Wrong?” report, also believe the inflation rate will hike soon. Mortgage holders living on a tight budget should prepare accordingly. Continue reading

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For Effective Home Visits

You’ve saved money. You’ve done your research and you’re just about ready to visit properties in the hopes of buying your very first home this year. You’d better make sure that these visits are effective. Here are a few tips.

  • We assume that you’ve defined your needs and priorities before visiting your first homes. Don’t make the mistake of defining them as you go along. If so, you’ll waste precious time.
  • Don’t wait to visit the property before getting the basic information, such as the age of the house, the electricity costs, the taxes, etc. Browse the websites of cities and power companies. They can usually give you this information. The real estate broker’s listings also hold a lot of information. If the house is not listed, a phone call or an email to the homeowner should suffice. If you’re afraid to sound too pushy, tell yourself that the homeowner is probably glad to proceed in that way. He or she will also be saving time.

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