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MaxWell Real Estate Blog

Oftentimes, the only thing that an outdated living space needs is a sprinkle of pick me up to create a fresh new look. If your home needs a little TLC or is starting to look outdated, but you’re not interested in breaking the bank or going the extra mile with renovations, then the following pointers will give your space the updated new look it deserves!

Paint: Painting can add a whole new life to a tired space. The possibilities are endless when it comes to painting as there are so many different colours and styles to choose from. Whether it’s on the inside or the outside, a coat of paint will dramatically improve the look and feel of your home. Painting a house is the best bang for your buck when looking to increase home value.

De-clutter: The

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Selling your home is one of the biggest decisions that you will ever make! This decision becomes more stressful especially when you need to move in order to buy another home. Timing is crucial! When is the right time to list your home to have a higher guarantee of a faster sale or get the most amount of money? When we look back in history, we start to notice that there are certain trends and patterns to when people are more inclined to buy and sell their homes, as well as when the market starts to die off.

Spring fever is a real thing, especially if everyone has been in hibernation during a brutally cold winter! When temperatures start heating up and snow starts to melt, buyer activity often blows through the roof. You’ll also notice that mortgage

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The cold winter months are inevitable. Here are a few easy steps you can do to prepare your home for anything this winter has to throw at us.

Clean the Gutters: In this step, you’ll need to get on the roof to gain access to the eaves troughs. It is always a great idea to have someone hold the ladder while the other is climbing. After you have cleared the troughs and drains, rinse away any left over debris. Clean gutters will help extend their life as well as help drain water easier once spring starts.

Check and Fix Leaks: Check your home for any leaks and drafts. This normally occur where utility lines run through the exterior of the home. Some of the best places to inspect: Exhaust vents, electrical sockets, door jams and windows. Most of the time

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To Renovate or Not? 

It’s difficult to determine whether or not it’ll be worth your time and money to renovate your home or just leave it be and sell it. Both options, depending on the circumstances, have good and bad, pros and cons. With all the options considered, the choice can sometimes be difficult. Below are a few things to consider when making your decision on renovating and/or moving.

First and foremost, what types of changes or upgrades would you like to make? Always make a list of the changes you’d like to see in your home. Be sure to include everything that you would need in order to complete the renovation. It’s important not to concentrate on the cost at this time, but what it is that you truly would like done.

Once you have

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People use the equity in their homes for many different reasons. Home equity is often used to pay off other debt, fund home renovations and upgrade projects as well as help purchase other necessities. It’s important to know these few facts when obtaining a Home Equity Line of Credit or HELOC to ensure that this is something you can manage.

  1.        HELOCs do not have fixed rates. This means your monthly payments can fluctuate. The interest rate is determined by the prime rate plus the percentage rate that the bank has set.  Let’s say the interest rate at the bank is prime + 1.5%. If the prime rate is 2%, then take 2% and add 1.5%. This gives you a total interest rate of 3.5%.
  2.        You might be paying way more than expected if the interest
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There can always be a negative side to purchasing a short-sale as an investment.

It’s possible to pay more than what the property is actually worth.  Most of the time a short-sale happens because the home owner is upside down on the loan.  However, just because the property is listed at what you think is a low price doesn't mean you're getting a great deal.

Normally these homes are sold 'as-is, where is', In this case, if there are hidden defects within the property (ie: unstable roof, termite damage, or appliances are worn out) that start showing after the deal goes through, you as the new owner, are the one who will be picking up the tab of repairing and replacing.

It could also take months for the lender to actually accept your offer, then

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Spring is in the air, the birds are chirping and the white is slowly turning to green. It’s exciting giving your home a fresh new look when winter is over. Here are some tips for your spring cleaning.

Organize Closets and Dressers: Get rid of clothes that don’t fit, or attire you no longer use. The best way to clean out a closet is to donate unused items. Organize accessories into baskets or cubby holes separated by the type of accessory (pants, shirt or belts).

Clean Walls and Baseboards: Scrub a little dish washing soap and water on a sponge or cloth over your baseboards, casings and walls to clean them up. Make sure to rinse the wall with warm water afterward.

Clean Carpets: In order to give your carpets a long life and brighten them up,

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The housing bubble simply means that there’s an increase in demand but a decrease in supply. In this case, fewer houses are available compared to the number of people looking to buy.

What happens during a housing bubble?  

House prices increase significantly when a housing bubble occurs. The home that you thought was reasonably priced is now priced noticeably higher.

Why does a housing bubble happen?

There are a few things that tend to ignite a housing bubble. Though, all aspects will play a role in making the housing bubble happen. 

  •        Increase in economic activity.
  •        Population increases significantly.
  •        Low interest rates to make homes buying attractive to home buyers.
  •        Higher risk taking as a borrower.
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When considering purchasing your home there’s one thing that the majority of people are concerned about, that is having enough for a down payment on a property. Have a 20% down payment of the purchase price on a home is most preferred. If you don’t have a 20% down payment, then a 5% down payment option is available. When you have less than a 20% down payment you are required to have mortgage insurance through CMHC to be able to qualify for your mortgage.

Nonetheless if it’s a 5% or 20% down payment, the government of Canada allows home buyers to use their RRSPs to purchase a home without a penalty for withdrawing the RRSPs. This home buyer option is called Home Buyer’s Plan or HBP.

But before you withdraw your RRSP, the following conditions must be

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