Top 5 Mistakes New Homebuyers Make

Mistakes

Are you preparing to buy your first home? Do you want to own a place that you can call home? If yes, there are a few things that you need to keep in mind to ensure that homebuying is a positive experience for you. In this article, we will take a look at some of the most common mistakes new homebuyers make, and what you can do to avoid those mistakes. So, let’s get started.

#Mistake 1: Jumping into Homebuying without Analyzing your Financial Situation

Buying a home is one of the biggest financial decisions for most people. Therefore, it is important to thoroughly analyze your financial situation before you start scouting for a property. Doing this is important as you will know whether you can afford to buy a home or not. If you have too many expenses currently, or if there’s a big expense coming up in the near future, it is advisable to wait for some time before you make such a big investment.

Financial mistakes

#Mistake 2: Not Getting Pre-Approved for a Mortgage

Getting pre-approved for a mortgage helps you know which properties you can realistically afford. Many first-time homebuyers make the mistake of scouting for properties without knowing whether they will qualify for a loan in the first place. Getting pre-approved for a mortgage will save you the time and energy, as it would narrow down your search. 

#Mistake 3: Selecting the Show Home

Well, truth be told, buying new homes is not only a financial decision for people; it is also an emotional decision. Many new homebuyers simply fall in love with the show home that the builder has spent a fortune on, without asking the necessary questions. The end result is their dream home doesn’t have all the features that they had seen in the show home. To ensure that you don’t make the same mistake, it is advisable to ask the builder about the features in the show home. Most of the accessories that you see in the show home are upgrades, and to have these incorporated in your home, you will need to pay the builder extra money. Therefore, before you decide to make your decision based on that beautiful show home, get real and ask all the necessary questions.

Mistakes

#Mistake 4: Not Seeking the Help of a Real Estate Agent

People who have experience with buying and selling properties can do without a real estate agent. But, for first-time homebuyers, seeking the assistance of a real estate agent is highly recommended. A real estate agent has access to better deals and he/she can also help you through the complete process of homebuying. Real estate agents also know about the track record and reputation of the builder which first-time homebuyers have little knowledge about.

#Mistake 5: Ignoring the Need of a Home Inspection

Home Inspection

Many new homebuyers ignore the need of having their home inspected by a professional. Getting your home inspected by a professional can help you get information about the structure of the new home construction and mechanical system of the property. With the help of a home inspection, you will be able to know whether you need to carry out any repairs and the cost for the same.

These were 5 common mistakes that new homeowners make. As we discussed earlier, if you have the knowledge, the whole process of buying a home will become a lot easier for you. Concluding, we hope that the tips mentioned in this article are beneficial for you.

Rent vs. Buy: Why Buying a Home Generally Wins

Buy or Rent a Home?

“Should I buy or rent a home?” — this is one of the most common questions that people ask. With a stable economy and belligerent housing market, many Canadians are thinking about realizing their dream of owning a home. However, the thought of committing to a mortgage, coupled with the uncertainty about a speculative bubble has made many Canadians think whether renting is the easier and more affordable option.

When it comes to the question of buying or renting a home, there’s no single, universal answer. Every individual’s financial state and goals are different — some are better off buying a home, while renting works great for some. There are a number of factors that you need to take into account to decide which option is better. 

Advantages of Owning a Home

Independence & Privacy

Buying a home offers you a greater degree of independence and privacy. People living in detached homes have the freedom to color their interiors and exteriors in their favorite colors. They also have the freedom to make any renovations or changes to their homes.

Pride of Home Ownership & Sense of Community

For a lot of people, owning a home is about realizing their dream of having a place which they can call their own. Becoming the owner of a home is associated with feelings of pride and honor. Becoming a home owner also gives a sense of community well-being and people become more actively involved with the issues concerning their locality/region.

Builds Equity

The monthly payments you make towards your mortgage helps you build equity in your home. The initial monthly payments go towards paying the interest, but over a period of time, you start paying the ‘principal’ and build equity in your home. This helps provide stability and security for your family.

Tax Deductions

Buying a home gives you an opportunity of deducting mortgage interest and property taxes from your income. Many homeowners benefit from these tax deductions as initially, most of the payments go towards paying the interests.

Stable Monthly Payments

When buying a home, you have the option of choosing a fixed-rate mortgage, which means your monthly payments will remain same over the term of the loan. This helps homebuyers plan their monthly budget in an organized way. People who rent a home have to pay a higher amount after a period of time (depending on the contract/lease). 

Increase in Borrowing Power

As you build equity in your home, new borrowing avenues open up for you in the form of HELOC and other loans. These loans can be used for any renovations/repairs or funding your child’s education.

Disadvantages of Owning a Home

Long-Term Financial Commitment

Most mortgages come with a 15+ years of amortization period, which means you have to make those monthly mortgage payments for a really long time. Some people feel as if they are chained when they think of committing to such a long-term loan.

Maintenance Costs & Property Taxes

In addition to making the monthly payments, homeowners also need to pay for maintenance costs and property taxes. This can put a burden on your budget or force you to take more credit in case you haven’t planned for it.

Decreased Mobility

Renters have the benefit of moving quickly from one job to another, in case of a job transfer, unemployment, etc. Homeowners on the other hand need to sell or rent out their property before they make the move. This involves a lot of searching around and legal work which can take a lot of time.

Buying Home Wins

Although home ownership and renting both have their pros and cons, the former is a long-term, stable approach, while the latter is usually a short-term fix. Since times immemorial, humans have shown an inherent tendency to settle at one place and develop a sense of community and bonding with their neighbors. Even from a financial perspective, owning a home is more beneficial than renting a place, especially if you plan to stay put for more than 5 years. The feeling of pride and the joy it brings it to your family cannot be measured on any mortgage calculator. We would like to conclude this article with this beautiful quote by Suze Orman — American author and financial advisor.

 "Owning a home is a keystone of wealth, both financial affluence and emotional security."

Fall Home Décor Tips for Your New Luxury Home

Autumn

Autumn, or fall is finally upon us, and it’s that time of the year when a certain level of melancholy and nostalgia creeps up even in the most vivacious of people. Trees start shedding their leaves, the sky turns grey, and an anticipation of a chilling winter invades most people.

It’s not to say that people don’t enjoy fall; in fact, many people make up special plans to see the foliage at various famous places. And, with the recent reports by Environment Canada that West Coast, Atlantic regions, Quebec, and Southern Ontario will have above-normal temperatures from September to November, many Canadians are looking to invest in home decoration for their luxury detached homes.

Fall Décor Trends in Canada

Custom-built homes

On the topic of home decorations, the autumn trend for most custom-built homes is incorporating bright, rich colors and patterns to create a lively ambience. Whether it is giving a little touch up to a porch or using color pillow covers, fall is the season of experimenting with the look of your home. Let’s take a look at a few home décor tips that you can incorporate this fall.

• You will spending more time indoors in the fall, and to create a warm, inviting ambience in your living room, it’s advisable that you use colorful pillows on your sofa or chairs. Including colorful sofas of different sizes and patterns adds a level of liveliness to your living room and makes it enjoyable for you to spend time there.

• While enhancing the visual appeal of your home in fall will help you create an inviting ambience, incorporating aromatic elements in your home will have a positive effect on your sense of smell. The smell of burning your fireplace for the first time will make you remember the cozy, lazy afternoons that fall and winter are known for. Also, including pumpkin pies will boost the aesthetic and aromatic elements of your home.

Bedroom

• To create a lively look on your floors, we suggest using colorful layered rugs. Layered rugs will not only add color to your floors, but also help your feet stay away from the cold tiles. While using layered rugs, just keep in mind that the colors should complement each other. Using contrasting colors can accentuate the look so, put your creativity to use when selecting the rugs.

• Although you will be spending more times indoors in fall, it doesn’t mean that you completely ignore your outdoor space. After all, it’s the first thing that your guests will be introduced to when they come visiting. Using colorful accessories in front of the door or on the stairs can create a warm atmosphere.

• While letting in fresh air and sunlight was the approach in the summers, you need to create insulation and warmth in the fall and winter. Using colorful draperies and curtains can add vibrancy and warmth to your rooms.

These were a few home décor tips for your new luxury home. We hope that the simple yet effective tips mentioned in this article will help you create a warm, colorful ambience and help you enjoy yourself completely this fall.  

Why Brampton is an Amazing City to Buy a New Home

Brampton, ON

Brampton is one of the fastest growing large cities of Canada. Brampton has seen rapid advancement in its economy and today, 72% of the city’s economic comprises of service-producing companies. With its multi-cultural fabric and sound economy, Brampton is fast becoming one of the preferred places to buying new home for many first-time buyers.

Brampton: A Brief History

Brampton takes its name from the rural town of Brampton in Cumbria, England. Brampton was incorporated as a village in 1853 and by 1869, it was in the County Town of Peel. Brampton was once known as The Flower Town of Canada because of the flower nurseries set up by Edward Dale, an immigrant from England. It is estimated that there were around forty-eight hothouse flower nurseries in Brampton at the height of flower producing business.

In the middle of twentieth century, Chinguacousy and Toronto Gore were incorporated into Brampton. It was only in the year 1974 that the new city of Brampton was created from the Townships of Chinguacousy and Toronto Gore. In the 1980s, due to a huge demand for new homes in Brampton, large swathes of land were sold to the developers. The constant influx of immigrants over the years, coupled with good employment opportunities has contributed to Brampton’s development, making it one of the fastest growing Canadian cities.

Multicultural Brampton

Brampton is known all over Canada for being a melting pot of people of different nationalities. According to estimates, the residents of Brampton represent more than 200 cultures and speak 89 different languages. East Indian, Canadian, English, Jamaican, and Scottish are the top 5 ethnic groups in Brampton. Also, Brampton is considered as a ‘young city’ as its largest population cluster is 30-49 years of age.

High Quality Living Amenities

New luxury homes

Brampton is known as a city that offers high quality living to its residents. There are over 850 parks in The City of Brampton. The city is host to a number of shopping malls where you can find the best products from around the world. The city is known for showcasing some of the finest arts and cultural activities in Canada. The Rose Theatre is famous not only in Brampton but also in Canada and North America.

Reliable Transport System

Transport

Brampton scores brownie points for its reliable transport system which includes CN’s largest intermodal facility in Canada and vicinity to some of the most extensive highways in the GTA. Toronto’s Pearson International Airport is easily accessible from Brampton, and it connects the city to destinations all over the world. Brampton’s transport system also includes Brampton Züm, an effective bus rapid transit system that transports you from one part of the city to another in no time.

Good Educational Facilities

Educational facilities

If you have children, or are planning to start a family in the near future, you can rest assured that you will have a lot of high-quality schools and colleges to choose from. There are over 130 elementary schools and 20 high schools in Brampton. The city is also home to Sheridan College Institution of Technology and Advanced Learning and Algoma University’s Brampton Campus. 

The quick pace of development in Brampton with its diverse population makes it one of the most preferred places to live, not only in the GTA, but all over Canada. Experts have predicted that Brampton will become one of the most developed cities in the times to come. If you’re thinking of buying a home in the GTA, Brampton is a great option for you.

7 Steps to Buying a Home

Home buying is easily one of the biggest financial investments for a majority of Canadians. Whether you are a first-time homebuyer or have bought properties before, investing your hard-earned money in buying a new home is always a bit daunting and it's only natural to feel overwhelmed. However, it's your responsibility to do thorough research about all the aspects of the homebuying process before you sign on the dotted line. In the following paragraphs, we will take a look at 7 steps of the homebuying process that will not only educate you, but also make the whole process seem less tedious.

Analyze need

•    Analyze your needs
When it comes to buying a home, there are a number of options that you can choose from, including single-family homes, townhouses, luxury condominiums, and multi-family buildings. To ensure you choose the right option, it's necessary that you analyze your needs. Do you have kids or are you planning to start a family n the future? Is the neighbourhood to your liking? Will you be able to live comfortably in a condo? You need to have clear answers to these questions before you begin scouting for your new home.

•    Determine how much you can afford
Experts always advise homebuyers to know how much mortgage they can afford before looking around for properties. You need to do a thorough analysis of your income, debts, and future liabilities to know how much mortgage you can pay off without missing on a single payment. It's very tempting to settle for the best home in the market, but you need to think pragmatically and choose a home that's within your budget.

Budget for buying new home

•    Get pre-approved for a mortgage
When it comes to buying a new home, the price ranges can be quite extreme. Therefore, it's advisable to get yourself pre-approved for a mortgage before you start scouting for your dream home. To get pre-approved, you will need to provide certain documents to a lender. Based on your credit score and disposable income, the lender will pre-approve you for a certain amount. The benefit of getting pre-approved for a mortgage is that it narrows down the range of homes that you should be looking at.

•    Seek the assistance of a reliable real estate agent
With the help of a real estate agent, you can get access to deals that aren't easily accessible to the public. A good real estate agent will help provide you useful information about the property and even help you with the whole purchase process. Experienced real estate agents have a good working relationship with sellers and they can negotiate a deal for you.

Settle a deal

•    Settle on a deal
After your real estate agent has shown you some really good properties, it's time you arrive at a decision. Again, it's important that you thoroughly research all the aspects, including the reputation of the contractor, vicinity to schools and shopping centers, neighbourhood character, and public transport. Work with your real estate agent and negotiate a fair offer that's comparable with the prevailing rates with similar properties in the neighbourhood. After you and the seller have reached an agreement, the home will go into escrow.

•    Obtain a home inspection
After the home has gone into escrow, an inspection of the home will be carried out to check for any structural damages or repairs that the seller may need to make before you close the deal. If the inspection reveals the need for any repairs, the seller is obligated to do the needful. You can then have a walk-through the house to ensure everything has been taken care of.

Closing the sale

•    Close the sale
If the home inspection is satisfactory or if the seller has made the required repairs, you should be ready to close the sale. You will need to need to go through a lot of paperwork in this stage. Your lender will also get the home appraised and get the title search done. After these important procedures are completed, you reach the stage where you are ready to move into the home of your dreams!

These were a few steps that are involved in buying a new home. We have provided you with a primer on what you can expect when buying a new home; the actual process can be a lot more elaborate than this. Being well-informed about the whole homebuying process can help you make a better decision and ensure you avoid the pitfalls that many homebuyers encounter during the process.

Modern Interior Design for a Sleek, Spacious Look

Interior design plays an important role in enhancing the appearance of your home. Beautiful interior designs can lend a certain level of character to your home and leave an indelible impression of everyone. The quality of your interior design can really make your home stand out from the rest, and create a setting that reflects your personal sense of style.

The innovation in technology has brought a sea change in our lifestyle, especially for those who live in the urban areas. The profound transformation in lifestyle has created a need for a sleek, functional and custom home designs and that’s why modern design has come to the forefront. Today, a lot of home owners want a simple and organized space that is free of the shenanigans that are associated with traditional interior designs.

Interior Design

 

Shape & Design Elements

One of the characteristics of modern interior design is that ‘less is more’. Modern design does away with clutter or chaos and focuses on creating a simple, spacious space that complements the modern-day lifestyle of working individuals. It uses basic geometry, such as curves and angles to create an ambience that is minimalistic, open, and free of any nuances, providing ease of access and increased functionality.

 

Sustainability, the hallmark of modern furniture

Sustainability is an integral part of modern furniture and every designer keeps this aspect in mind while creating a modern design. Modern furniture is sleek smooth, and uncluttered, and its primary purpose is to last for a long time rather than creating a strong impression with an intricate design. The focus is also on providing a comfortable space where one can not only spend leisurely time but also work from home if the need arises.

 

Accessories have a unique appeal

Accessories for home decor

 While modern design is all about having a space that is sleek and spacious, accessories, especially art pieces with a unique appeal are used to accentuate the look of modern interiors. Modern designers carefully choose art pieces that are minimalistic and don’t become a focal point of attention in a room. The aim is to create a setting that is holistically pleasing rather than dependent on a single striking aspect.

 

Dramatic Effect of Colors

Modern designers use effervescent colors to create a lively, vibrant setting. Usually, they use neutral shades of gray, brown, blacks, and whites for floor covering, while bold colors, like red and green are used to create a visual contrast for walls.

Modern design is more popular among city dwellers as it complements their lifestyle. People living in condos prefer modern interior designs as it gives an impression of a larger space. Working professionals who do not have the time to clean or vacuum their homes every day are also better off with a modern design. However, families with young children might need to make a few adjustments before adopting this style. A consultation with an experienced modern designer can help you create a customized design that includes your specific needs and goals.

5 Factors to Consider When Choosing a Neighbourhood

Neighbourhood

Buying a home is one of the most important decisions for many people. Apart from being a major financial decision, being a homeowner is a very emotional thing for a lot of people. However, before we arrive at the decision of owning a home, it is important to not only research about the home but also the neighbourhood. After all, you might not be content with your decision if you have a beautiful home, but the neighbourhood character is not to your liking.

While searching for new construction homes, it is also important to pay attention to the community. You should be looking at a community where your family feels safe and comfortable. Let us take a look at the 5 factors you should consider while choosing a neighbourhood.

Finding a Home

Is the community in the proximity of basic facilities?

Your comfortable home might not feel so comfortable if grocery stores, pharmacies, shops, etc. are not in its vicinity. While choosing a neighbourhood, you should take into account accessibility to basic amenities. If you have to walk a long distance or take out your car to buy grocery, you might need to look somewhere else.

Are there reputed schools in the vicinity of the neighbourhood?

If you have kids or are planning to start a family in the future, you should prioritize communities that are in the vicinity of reputed schools. You should do some research on the good schools that are in the vicinity of a community as realtors are not allowed to provide direct information to buyers about specific schools in accordance with The Fair Housing Act. Even if you are not going to have kids, choosing a community with good schools is a wise thing to do as houses in these communities hold onto their value for a long time.

Does the neighbourhood provide for easy commute?

 

Transport

 

Easy access to public transit options can save a lot of time and money. When scouting for the right neighbourhood for your family, you should research about the available options to commute. Lack of good transport service will make it difficult for you to commute easily. However, you should also keep in mind that homes in communities that are in the proximity of subway stations or highways come at a higher price.

Does the region have a low crime rate?

Ensuring that you or your near and dear ones feel safe and secure in a new community should be on your priority list. Thankfully, you can now check the crime statistics of a region on the internet. You can also get in touch with the local police authorities and know about the crime scenario in the region. As a homebuyer, it is your prerogative to ensure that you are aware about the prevailing crime situation in the neighbourhood where you are planning to move.

Are there any issues related to traffic congestion and noise pollution?

Many expert realtors advise homebuyers to visit a neighbourhood during the daytime and as well as in the night. This is because neighbourhood experiences can be different for day and night. Neighbourhoods with too many pubs or bars might become noisy when it is time for your kids to sleep, therefore, you need to know about it before you make a move. Another reason for visiting a neighbourhood at various hours is that you will get to know about the traffic situation. If you visit a neighbourhood in the afternoon, many people may be in their offices or homes and the traffic will seem minimal. However, you should also know whether there are long traffic jams and congestion on roads during the peak hours. To know more about the neighbourhood character, you should talk to the residents or mom-and-pop store owners.

These were a few things that you should keep in mind while selecting a new neighbourhood. Although this list is not exhaustive, we hope that it helps you in getting a gist of things to lookout for when choosing a neighbourhood.

Your dream home is waiting for you, come home to Bremont homes…

Basic amenity for a person in his life is that he should have shelter, a roof on his head. That’s your own home and there is nothing like owning a place to live in. you would be giving not only yourself a sense of security, but also to your family members and your growing children or may be just your parents. Parents have helped you throughout your life, in your studies in your struggle to become independent; they have given you the most precious times of their lives. Now it’s your time to pay back, nothing can be better than gifting them a house, where they can spend their quality time, time which they had spend taking care of you, a place of their own. Buying home for your growing children would be a great idea. Nothing is more wonderful than cherishing your childhood memories of the small tree house you had once. 

Buying a new home

Buying a new home has always included many important things to take into consideration. 

• What do you want the most? 
• What is your preference in the kind of surroundings you want to live in? 
• How is the neighborhood? 
• Do they have schools nearby? 
• Transportation and commuting to your work place should not take much time.  
• Is there a library or a museum located near the surrounding? 
• How is the view outside the window?  
• And most important is the place that you are planning to buy affordable, if not where to get one? 

Researching on all this things takes a whole lot of time, but you cannot skip it and ignore it. But what if you get these things taken care for you by someone else? And that’s not a consulting service provider or a brokerage person doing it for you. How about if a real estate builders look all this problems for you and provide the best for your convenience.

New construction in Brampton

Designed by the award-winning firm Hudson Kruse, the new construction in Brampton from Bremont Homes is the ideal place to move in.  If you are working in communications, logistics or life sciences, Brampton is the place for you. If you work in any of this field its great time to move to this new and developing city of Brampton, which is a home for many more companies and different fields. And in addition to the convenience for your work Bremont homes has new, affordable homes for everyone  close to all the amenities like shopping , schools and many more in Brampton. 

With the new affordable homes from Bremont you can enjoy finest craftsmanship and luxury townhouses in Barrie, Brampton, Innisfil, Wasaga Beach and other cities of GTA with the help of the very skilled construction team of the building company. And also if you have any questions during the construction of your home or after moving in, a team of professionals from the customer service will always be there to help you. 

Know The Best Fashion Trends of Modern Home Decor

Home designing has seen a sea of change in the past decade. Earlier, homes were built for a necessity and not much attention went into the designing aspect. It is only of late that detailing in home designing has come to the fore front. There are many reasons that have led to this; we will see them in the following.

Home Decor Trend

Even the real estate industry is not left untouched by fashion. Yes, I am talking about the home decor followed by builders at different times in the past years. From hardcore budget oriented and functional home decor to lavish and luxurious modern home decor the trend has been totally buyer centric. As they say, builders deliver what people demand. Today modern interior designs call for artificial ceilings, customized kitchens, exquisite outdoors, subtle color schemes, and so on. Earlier people were more oriented towards a flashy color scheme and a living space that had more storage space than beautifying elements.

Modern home decor

Trends change and the deciding factor mainly is the buyer. There is this general group of buyers that form a major chunk in a particular season that wants to buy homes. For example, when the economy is doing well and the loan rates are steady buyers are mostly from the middle class segment. Thus the supplies cater to those buyers for the next few years.

It would be inappropriate to say though, that there are no exceptions. There are some well known builders, or shall I call them ‘brands’ that have a set of customers and irrespective of the season, they know they have buyers ready to invest on their schemes.

Modern Home Decor

Interior designing is hot in this decade, with builders collaborating with modern interior designers for their projects. These professional home designers work towards adding a unique touch to each project without compromising on functionality and allure the buyers with the idea of having an exquisite home for themselves that doesn’t match with any of their friends’ or relatives’ homes (that’s sure an alluring thing, isn’t it?).

Modern interior design

New materials and modern techniques are what make people to run for modern home decor. They give scope for variety and experimentation with floors, counter-tops, furniture, storage space, etc. For example, French windows in skyscrapers let you have a stunning view of the city as well as allow sunlight to enter your home. Lightings are another big thing when it comes to modern interior designs; designers play with different lights to give dramatic or subtle effects to specific features in the home.

The real estate industry is said to be ever growing and one that is richer in terms of asset return value since probably the beginning of time. Traditional home designs or modern home decor, finally it all depends on personal choices. Most buyers select a traditional scheme only to convert into a modern design few years later when the finances are better.