Mobile deposit technology to be rolled out

Mobile deposit technology to be rolled out

The Canadian real estate market may be poised for transformation with the introduction of mobile-driven deposits, set to help investors avoid the snafus that too often scuttle deals.

ExactDeposit will be launched via a pilot project through Royal LePage Atlantic and other local brokerages before it is rolled out across Canada to follow.

“Mobile payments for real estate deposits have never be possible before,” says Chris Ryan, founder and director of ExactDeposit. “We are the first of our kind.”

The technology has been designed to offer greater convenience and efficiency to investors, Realtors and real estate brokerages.

“[The transaction] can be completed from anywhere, using a smartphone, laptop or…

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Why more Canadians are raiding their RRSPs

Why more Canadians are raiding their RRSPs

For the past 22 years, the Home Buyers’ Plan has helped more than 2.5 million Canadians borrow money from their RRSPs to help make the dream of home ownership a reality. However, the $25,000 maximum that can be withdrawn per person doesn’t give prospective homeowners a lot to work with.

The reasoning behind this plan is fairly straightforward. First-time home buyers (or anyone who hasn’t owned his or her primary residence in the past five years), are permitted to take up to $25,000 from their retirement savings without penalty as long as it is paid back within 15 years, which starts two years after the withdrawal occurs.

If you are buying with your spouse or common-law partner, it is possible to withdraw…

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3 things to consider before helping your kids buy a house

3 things to consider before helping your kids buy a house

As prices continue to escalate in many Canadian markets, it’s only natural for parents to want to help their kids buy a home. But there are three things parents should bear in mind before doing so, reports The Globe and Mail.

Ask any Realtor or mortgage broker about home first-time homeowners, and you’re bound to hear stories about parents providing financial assistance.

“The bottom line is that when a first-time home buyer buys a house, the parents more often than not are contributing something to the down payment,” says David Larock, a mortgage broker with Integrated Mortgage Planners.

Some parents are more than happy to help their kids buy that first home. However, there are three good…

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Canadians are big users of hot water

Canadians use an average of 75L of hot water each at home every day—for washing dishes and clothing, cleaning and personal hygiene. For the average family, that adds up!

Water heaters account for 17 percent of the energy consumed in the average Canadian home. That share can vary from 15 to 25 percent depending on the house type, number of inhabitants and their lifestyle habits.

Consumers enjoy greater efficiency and more choices

Manufacturers are making more efficient models of water heaters, due to Canadians’ desire to save energy and money, and to comply with Canada’s Energy Efficiency Regulations.

Canadians can choose from various types of water heaters—storage tank, tankless, combination, solar, and heat pumps—and different energy…

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Why It Is Better to Work with a Real Estate Agent When Buying a Home

Why It Is Better to Work with a Real Estate Agent When Buying a Home

It’s true that home buyers can buy a home without the help of a real estate agent, but buying a house is not as simple as buying a cup of coffee or new clothing. Purchasing a home is more complicated than it looks and the real estate transaction involves interacting with many key persons in the process – the lender, the appraiser, the home inspector, the lawyer to name some. It would be really overwhelming for you if you deal with the whole process alone.

While you can save money by doing the hard work alone – going solo is not the way to go and in the end may cost you more than the real estate commission your agent gets.

Here’s why you should drop the idea of going solo. This…

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Understanding Strata Fees

Condo living definitely has its perks. You can take advantage of amazing locations in the heart of urban centres close to public transportation. You can be a part of a community and you don’t have to spend your days doing yard work or home maintenance. But, best of all, you can enjoy convenient amenities like fitness centres, party lounges and pools, all at your doorstep. Sounds great, but how does this affect your bottom line? When purchasing a condo you want to consider your monthly strata fee.

What are strata fees and how are they determined?

Your monthly strata fee is money that’s used by the strata corporation to pay the common expenses of the development. Your individual fee is assessed by taking the total cost of the strata’s expenses and…

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4 Tips for Selling a Home Far Away

Whether you’re in the next state or across the country, selling a home remotely can be tough. To pull it off, you’ll need to plan ahead and get some help from a local agent.

Just a few years ago, at the height of the real estate crisis, if homeowners were transferred for work or moved for personal reasons and couldn’t afford to sell their homes, they often opted to become “accidental” landlords.

Not experienced real estate investors, they became such as a result of the market. Now that the economy has picked up, many of these landlords are finally selling their investments.

If you know that you’ll be selling a home remotely, don’t wait until the last minute. It’s hard enough to sell a home, and being far away makes it even more difficult to prep…

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Home Staging Tips: Paint It Right

Giving your home a fresh coat of paint in modern, universally appealing colours is one of the most effective, easiest and cheapest ways to help sell your home, but it’s important to do it properly, otherwise it could end up being a mess and putting buyers off. Here are the key tips.

What to Paint

If you decide to paint the entire interior, paint every room the same light, neutral colour to keep it simple (whites, creams, pale beiges and fashionable greys are best). Your initial reaction may be that it will make your home “sterile” or “boring,” but it will in fact enable buyers to view your home’s features and not think about having to paint the walls because the existing colour will clash with their belongings. It will also allow a seamless flow…

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Avoid these Home Improvement Mistakes to Sell Your Home Faster

Owning your home means more financial responsibility than merely being an occupying tenant in a rental property. There are a considerable amount of additional costs that go in to purchasing a house such as Home Owners Association fees, insurance, maintenance, and repairs. In spite of the extra expenses having a place to call your own gives you a sense of pride and accomplishment as well as provides a fantastic investment opportunity as equity is built over time. 

One of the best aspects of purchasing your own residence is the ability to put a personal touch in to the decor and style. Paint colors, flooring, lighting, or total room redesigns are all just waiting for you to choose and customize. However, a home owner not only needs to keep their finger…

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How to sell a home leading up to the holidays

There is no controlling the time of year that a seller might be required to sell their real estate, but what about the busy period leading up to the holiday season?

Although listing a home too close to Christmas isn’t ideal in many cases, it can yield positive results if done properly.
 
One advantage of selling a property around the holidays is that there’s typically less competition. With fewer listings on the market at this time of year, you can take advantage of the more serious active buyers. It’s not uncommon that work schedules lighten up leading to the holidays, which may allow active buyers to focus on house hunting.

The amount of active buyers will be somewhat dictated by the condition of the local market – for instance, a seller's market…

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