Everyone wants to get the best mortgage financing offer. Does that mean getting the lowest rate, the longest term or the smallest payment? The best strategy for one person isn’t necessarily right for another.

Mortgage renewal is the perfect time to reorganize your finances based on your life goals. Your plan will be different, depending on whether you want to pay the lowest interest possible, reduce your monthly payment, save for a special project or optimize your debt repayment.

Here are 3 things to consider before settling on a mortgage agreement that’s right for you.

  1. Your financial commitments 

To find out how much flexibility you have with your budget, calculate the monthly payments for your:

  • Vehicle
  • Credit cards and lines of credit (monthly minimums)
  • Personal loans (e.g., student loan)
  • Other payments, like child support

Note: no more than 40% of your gross household income should go to all of your financial commitments, including your mortgage payment and other home-related expenses (e.g., property taxes, school taxes, energy costs).

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We are expecting a typical Québec winter this year. That means cold weather, snow storms, and humidity. Should you reconsider your home’s insulation? If so, this is the perfect occasion to take your first Eco-friendly step. Plus, you will save on heating costs.

Good insulation means improved comfort, protection against outside noise and energy efficiency; hence, the importance of having an adequate insulation system.

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First off, here is some basic knowledge. Since hot air tends to rise to make room for the cold air that is flowing down, the roof’s insulation is a top priority. Do not overlook the insulation of the piping system, even if it seems trivial. And remember, properly installed insulation means zero heat loss; therefore, no seams nor openings.

According to many experts, ecological insulation materials are more energy efficient than mineral wool insulators. You can expect less condensation because the ecological insulator is more breathable. In addition, they are less irritating to the skin during the installation. Ecological insulators are not as energy intensive to make as mineral wool, with a few exceptions.[……]

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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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The two-toned kitchen cabinet trend is in full swing: one colour for the upper cabinets, another one for the lower cabinets, or a different colour for the cabinet doors. Imagine all the possibilities!

Pairing two colours for the cabinets can instantly revive the whole kitchen, regardless of the colours you choose, whether they are lively or dark hues.

Now, close your eyes and imagine these combos: orange and brown, gold and brown, eggplant and anise green, orange and violet, blue and gold, blue and grey, turquoise and beige, turquoise and chocolate brown, grey and purple, yellow and cream, black and ochre. And the list goes on.

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Minimalism is the process of eliminating clutter. The decorative accessories are thrown out. Only the key pieces are salvaged. Everything is stripped to the bare essentials: colours, materials, and furniture. This gives greater depth to the decor, which is, to be frank, quite refreshing.

Minimalism is at the centre of the contemporary style, but it can also be expressed through other styles, like the rustic, lounge, industrial (loft, among others) decors or the shaker design, which is probably the barest look of all.

The simplicity of minimalism resides more in the shape and number of pieces than in the style itself. Sometimes, a room is so bare that only one expression comes to mind to describe it: it is naked.

The monochrome design is one of the secrets of minimalism. Usually, the colours are neutral. More often than not, everything is white, from the ceilings to the floors, as is the furniture. If not, you will find two colours, seldom three. Oftentimes, it’s the same colour that fades out into different shades. Featured somewhere: a concrete floor painted in turquoise with a sofa of the same colour.[……]

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Nowadays, buyers are lucky. They can search the web to get data on a desired property. They can then count on experts, such as the real estate broker, to obtain more data to bridge their knowledge gap. Having all the data on hand is the lifeblood of negotiation.

Some buyers use intimidation and tenacity to reduce the price of a property. When, in fact, raising your voice, constantly criticizing, and acting up are ineffective methods. All these attitudes lead to confrontation.

The buyer’s most persuasive argument remains his or her knowledge of a property’s data. The more the buyer knows about the property, the more negotiation power he or she will have over the seller, especially if the selling owner is unprepared.[……]

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Homeowners who wish to sell their home or condo should know the fair value of their property to set the selling price and to negotiate more effectively. Sometimes, homeowners will set the price according to their own calculations. This method is feasible, but not foolproof.

Many people rely on the municipal assessment to set their property’s market value. Bad idea. The real estate market evolves every day, whereas the municipal assessment services, bound by bureaucracy, are slower. Consequently, there is a gap between the fair price of the property and the municipal assessment. Oftentimes, this assessment is inferior to the true property price. The municipal assessment reflects the fair value of the property, but not the value itself.

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Some rely on a very popular practice: finding a property that is similar to theirs that has been sold, not too long ago, in the same neighbourhood. The property must be, if possible, identical or nearly the same. Same type of home, same year of construction, same living space, same lot size, same outdoor layout (pool and other installations), etc.[……]

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