Trusted Tips and Resources

Trusted Tips & Resources

Trusted Regina Mortgage Broker Kent Bittner shares a tip on planning for additional costs with your mortgage

The purchase of a home is the largest purchase most people make during their lifetime. Kent Bittner at DLC-Bittner Mortgages, wants to make each and every purchaser aware of the many mortgage options available to them prior to their purchase and closing date. 

Whether you are a first-time buyer or an experienced buyer with excellent credit, DLC - Bittner Mortgages has access to the very best products and mortgage rates available across Canada.
 

Kent Bittner of DLC-Bittner Mortgages is a Trusted Regina Mortgage Broker 

Will you need to pay any additional costs?  The purchase price of your home is only one of the costs you'll encounter. 


You'll pay some costs at the beginning of the home-buying process and others, known as closing costs or disbursements, when your home purchase is finalized


Here are other possible costs you need to consider:


Property/Land Costs

(Provincial property/land transfer and registration taxes)
It is based on a percentage of the purchase price (0.3% to 2%) and varies from province to province.
Most provinces levy a tax on a home purchase that must be paid at the time of registration.

Legal/Notary Fees

Check with your lawyer or notary for current rates.
Professional representation protects your interests in the purchase of a property. Fees and disbursements may vary based on a transaction's complexity.

Mortgage Insurance

Premium fee depends on the amount you are borrowing and the percentage of your down payment. It typically ranges from 1% to 3.25% of the principal amount of the mortgage.
Any home purchase where the down payment is between 5% and 19% is considered a high-ratio mortgage and must be insured to protect the lender in case of default by the borrower.

Property Insurance

Varies based on value of the property, location and contents of the home.
Mortgage lenders require you to have property insurance in place when you take possession of your new home. Make sure you enlist an insurance agent early.

Home Inspection

$200 to $500
A home's clean bill of health from a qualified home inspector can provide a great deal of comfort when buying a resale home.

Moving Costs

Variable, per hour
Costs depend on what you can do yourself and the distance involved. Prices may be higher at the end of the month or in the summer.

Don't forget to consider general expenses such as: upgrades, and home decorating costs as well.

Adrenaline Trusted Regina roofer tip on which elements affect the lifespan of your roof


What elements affect the lifespan of my roof? 

Several questions need to be answered when determining the approximate lifespan of a roof that has been correctly installed. To start, one must examine the type of a roof. Whether the roof is sloped or flat, it has two basic elements: the roof deck and the wood planks, plywood, or oriented strand board, otherwise known as particle board. These elements are usually used in residential construction and have a weather-resistance or waterproof finish. A sloped roof can be finished with asphalt composite shingles, wood shingles/shakes, clay tiles, metal, or slate tiles.

                                      


A flat roof’s membrane typically includes several layers or plies of felt with a coat of tar between each ply. The surface of the roof is then covered with gravel to protect the membrane from the sun. Other flat roof finishes include a rubberized asphalt membrane, or plastic and rubber membranes. Even a flat roof is slightly sloped to allow the roof to drain properly and dry. The slope of the roof must also be taken into account. The weather resistant finish of a sloped roof can be compared to an umbrella - designed to shed water or snow and dry before the materials become saturated. The steeper the slope, the better the roof sheds water. Therefore, a typical asphalt composite shingle may last longer on a roof with a greater slope, as it allows the shingle to dry faster. 


Other factors that affect the roof’s lifespan include its proximity to weather, including sun, wind, rain and snow. Take exposure to the sun as an example: On a sloped roof finished with asphalt composite shingles, the portion of a roof that faces south or southwest typically has more exposure to the sun. The sun’s rays can cause the shingles to become brittle and age prematurely. This is why some areas may show more deterioration then others.


                                    


The conditions in an attic space can also affect  a roof’s life. If insulation and ventilation levels are inadequate, air leaks from an interior living space can cause a build-up of warm, moist air. Under certain weather conditions, moisture condenses in  an attic space, potentially causing mold and mildew accumulation on the roof deck and framing, which can lead to wood rot.

The following summary provides a typical life expectancy of various roof finish materials:

   Asphalt composite shingles: 1525 years

   Wood shakes/shingles: 1535 years

   Slate tiles: 35100 years

   Built up roof (tar and gravel): 1030 years

   Modified bitumen: 1525 years

   Rolled roofing (selvage): 5 10 years

It takes a trained eye to properly evaluate a roof and to understand the many facts that affect the performance of a roof system. A properly trained home inspector can provide a homeowner with an objective opinion regarding the current conditions of a roof. Call your AmeriSpec inspector today to learn more.


                                     


Trusted Regina Home Inspectors tip on Home Inspection FAQ's

 Trusted Regina home inspectors 

Homeowners Q: 

Why do I need a home inspection?

A: Whether you’re a buyer or a seller, a home inspection provides invaluable details about the condition of a home. It’s important for homeowners to learn as much as they can about a property, so they can make any necessary repairs if they have been reported. Home inspectors can also suggest preventative measures to help avoid costly future repairs. 

                                                                          

Q: Do I have to attend the home inspection?

A: : It’s a good idea to attend the home inspection because any questions that you may have can usually be answered on the spot. It’s important for sellers to keep in mind the inspector has not been retained to point out all of the good aspects of the home, and they should not feel offended when the inspector points out a defect or potential defects.

 

Q: How long does a home inspection take?

A: A typical inspection of a property less than 2,000 square feet lasts approximately two and a half hours.


                                         

Adrenaline Trusted Regina Roofers tip on keeping your eavestroughs clean


 

Keep your eavestroughs clean to prevent costly damage to your home:

Often homeowners neglect exterior items of their home, like the eavestroughs (gutters) and downpipes. But neglecting them can lead to serious problems with both the home’s interior and exterior. That’s why it is extremely important to keep up annual outdoor maintenance on your home to avoid costly problems later on.

 

 

If your roof gutters are too high for you to safely take care of yourself, you can always hire a professional for the job. If it’s something that you feel you can safely do yourself, here are some things to keep in mind when caring for your eavestroughs.

Be sure to clean out your eavestroughs at least twice a year. It is important to do this before the temperature drops below freezing, so remember to schedule this in for the fall and then again in the spring.

 

 

The gutters need to be cleared of any debris and make sure the drains to the downpipes are open. Clogged gutters can cause many issues like discolouring your siding or causing leaks inside your home. Even something as simple as leaving rotting leaves in there can rot wood fascia, damage shingles, and break the eavestrough itself.

Safely climb up on a ladder to inspect the eavestroughs and see what debris may be clogging them up. You should wear gloves when clearing them out because of sharp metal bits that could be in there or use a garden hand shovel to get out dirt and leaves and put them into a bag that you can hang on the ladder. Once everything is cleaned out, wash the gutters out with a hose and the water should drain properly down the pipe. You can always install mesh screens or leaf guards to make this job easier in the future. If you can, also open any downpipes that have been crushed at the ground. Another thing to inspect is the eavestrough’s nails and then hammer in any loose ones back into the fascia.

 

 

Taking the time to inspect and maintain your home’s eavestroughs will help protect your home from precipitation and help minimize water damage to the outside and inside of your home.

 


 

Trusted Regina tip on Home Inspections for Sellers


Home Inspections are important for sellers too

Homeowners and REALTORS® under-estimate the value of a home inspection before a house even goes on the market for sale.

While a buyer will likely have his or her own inspection conducted, there is value to the seller:

  • Give you the confidence that you understand the true condition of your home
  • Let you fix or make allowance for items which could negatively affect asking price when you’re negotiating the sale
  • Lessen the risk of surprises that could postpone a sale
  • Ensure full disclosure at the time of the sale

 

 

Here’s a good article by Mike Holmes on this topic:

Getting a home inspection is smart - paint can hide a world of trouble. If the home inspector finds problems, it can help when it comes to renegotiating the asking price.

But home inspections don’t just help home buyers. They can work to your advantage when you’re selling, too.

  • Anyone selling their house will go through a home inspection you can’t avoid it. But getting one before listing your property puts you ahead of the game.
  • You will know of any issues or fixes before buyers find them. If you wait and hope they don’t, there’s a good chance they will and your home will stay on the market longer.
  • And get ready for some heavy renegotiations. When buyers find problems, they are not happy, and they will show it by cutting the selling price in some cases, by quite a bit.
  • Fixing any issues in your house helps to increase your property value, decrease the time it’s on the market and avoid renegotiations. Bottom line: Your house will look better to buyers.
  • Some home inspectors will give you a coloured hard copy and CD of the inspection report. If you place these on the coffee table when people are looking at your house, a responsible homebuyer will appreciate it.
  • You can also reference the inspection report in listings, feature sheets and online, to help speed up a sale.

 

Today, people want to get as much information as they can on their phones, on their lunch, during breaks and so on. If you have an inspection report with photos plus some beauty shots of your house, you will speed up the selling process.

But the key here is finding the right home inspector, whether you’re buying or selling. You don’t want to depend only on home inspectors your real estate agent recommends. Real estate agents want to make a sale its their job. But their commission is based on the final selling price of the house, so its likely they want to keep it higher. This is fine, except if its done by hiding problems.

When you’re buying a house, a real estate agent might recommend a home inspector that will likely not catch all the problems, just so they can make a quick sale. A home inspector might do it because they want to keep getting referrals from the agent. If you’re selling, the real estate agent might not want problems in your home caught again, to keep the selling price up. They might have your best interest in mind, but the strategy is off. You could end up facing renegotiations or not selling.

Find the problems, get them fixed, add the cost of the repairs to the selling price, and speed up the sale. Everybody wins you (the seller), the real estate agent, and the buyer, because they will be getting an honest assessment of the house and its worth.

A home inspection is a great tool for the entire housing industry real estate agents, contractors, homebuyers and sellers. When we use them right, everyone wins. But just like any tool, they require the right skill.

 

 


 

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