Mortgage Repayment Tips

Fri, 25 Oct by edmontonhomepros

Supersize Your Mortgage Payments with the Edmonton Home Pros

Do you want to become mortgage free? It is easier than you think! Let Stephen Lau and the Edmonton Home Pros team show you how. Together they’ve developed some interesting tips that can help you make smarter choices when it comes to your mortgage; which can save you money and take years off your mortgage:

Mortgage Repayment Tips

Get pre-approved. The last thing that you want is to purchase a property that you cannot afford. Getting a mortgage pre-approval will not only help you better balance your budget, but will also help you understand your limits when house hunting.

Pay often. Once you’ve purchased your home, consider making bi-weekly payments rather than monthly. These payments help your overall credit rating and will add up at the end of the year.

Pay Double. At least once per year, pay twice the amount that is necessary. You would be surprised how much money you can remove from your amortization period with it.

Pay more. It is recommended that you pay more than the minimum amount required on a property’s mortgage. Homeowners who pay only the minimum amount on a mortgage typically take longer to pay it off due to the interests.

In a 2012 survey conducted by the Royal Bank of Canada, over 65% of Canadian homeowners are concerned with their mortgage rates and over 50% confess that their mortgage is much higher than anticipated. Before you take the step towards homeownership, educate yourself and take the guesswork out of mortgages. This will save you stress, time, and money down the road.

The Edmonton Home Pros team has a large number of business affiliates who are ready and willing to work with Edmonton homeowners. These professional associates include: lawyers, mortgage specialists, and financial institution representatives. For more information contact Stephen Lau today.

Hiring A Contractor

Fri, 18 Oct by edmontonhomepros

Do you want to renovate your Edmonton home, but lack the patience and knowledge? To save time and stress: Ask a contractor for help. Their experience, access to materials, and technical knowledge set them apart as expert home renovators. Many home improvement contractors operate in Edmonton; however, not all of them are true professionals. So take some precautions when hiring a contractor: 

Hiring A Contractor

Contractors work with you to enhance your Edmonton home.

  • 1) Do your research. Ask around for referrals, your neighbours might know of a professional contractor! When you find someone, make sure they are licenced to work in Edmonton, bonded, and insured.
  • 2) Interview potential contractors. Once you have narrowed the list down to a few potential contractors, setup some interviews. Ask questions such as: What is the project cost? Are you doing the work yourself or subcontracting? Do you have any work samples I can see? What other projects have you done that are similar to this?
  • 3) Review the contract. It is the contractor’s responsibility to provide you with a written contract detailing the work to be done. Go over the contract carefully it should state: What materials they are using, detailed payment schedule, and what you are obligated to pay for. Consider putting some Terms and Conditions into your contract, such as: times the property is open to them, requirement for them to cleanup at the end of each day etc…
  • 4) Remember: You get what you pay for. You may end up with low quality materials, rush jobs, or unreliable workers if you hire a cheap company in an effort to save money. Cheaper is not always better, so always put everything in writing and schedule a walkthrough after the work is completed.

The most important thing to remember is to choose a contractor that you feel comfortable with. Being mindful and confident when hiring a contractor can empower you to make educated decisions and have a smooth home renovation process.

For more great tips and advice, stay tuned to the Edmonton Home Pros real estate blog.

Condos & First Time Home Buyers

Fri, 11 Oct by edmontonhomepros

Are you tired of making rent payments that don’t go towards something? Transitioning from renter, to first-time home owner is easier than you think! Edmontonians are fortunate to live in a city that has a strong housing market, low interest rates, and favourable conditions for first-time home buyers. Choosing a condominium property as your first home has many benefits:

First-Time Home Buyers & Condos

  • 1) Low Competitive Prices: There is an array of condos to choose from in the city with more and more developments in the pipeline. Search through our extensive list of Edmonton Condos For Sale and you will surely find something!
  • 2) Extensive Support For Home-Buyers: The Edmonton Home Pros Team are industry leaders and professionals. They provide extensive Real Estate support to first-time home buyers. Stephen Lau and his team also makes sure you have tons of resources and information available to help you along the way.
  • 3) Attainable Mortgage Rates: Low interest rates make a huge impact your opportunities to purchase an Edmonton condo. Depending on the property your mortgage payments could be lower than what you currently pay for rent!

If you’re concerned about making the Down Payment on your first condo, consider turning to a financial institutions for support. Many of them offer programs to help you with the deposit on your first Edmonton condo. The Edmonton Home Pros team also has a list of business associates which include Mortgage Professionals, Lawyers, and even Developers. Start a conversation today and you will be well on your way to home ownership. Contact Stephen Lau and the Edmonton Home Pros Team!

What Type of Edmonton Home Can Suit Your Needs?

Fri, 04 Oct by edmontonhomepros
Edmonton House

Photo by: Miken32

The City of Edmonton has a home for every family and a long list of options for current house hunters. But do you know what type of Edmonton home can suit your needs? As you prepare to purchase a For Sale property, the Edmonton Home Pros recommend that you know how to recognize these types of homes in the Edmonton Real Estate Market; as it will help keep your home buying experience stress-free. Some of the Edmonton homes you will encounter are:

Bi-Level Edmonton Homes
Typically, Bi-level homes have steps leading up to the entrance or veranda. Basement rooms of a Bi-level home can accommodate big windows and are well lit compared to other basements.

4-Level Split Edmonton Homes
These homes are similar to a Bi-Level house, except they are bigger. These types of homes are common in Edmonton Suburbs among larger Edmonton families and homeowners looking to start a family.

Edmonton Duplex
A property large enough for 2 families under 1 roof is known as a Duplex. An Edmonton Duplex can have side by side units, or units similar to a 2-Storey home. Each unit operates like a self-contained home.

Edmonton Townhomes
These are also known as row houses or townhouses. Perfect for first-time homeowners or young couples, Edmonton townhouses are placed side-by-side and share common walls.

This knowledge combined with the help of the Edmonton Home Pros real estate team can help future home owners make a well educated decision. There is also an Edmonton community perfect for every family. When you contact Stephen Lau he will pair you up with the Right Agent that specializes in the area of the city you are interested in.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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