Will a neighbor problem reduce the value of my Lethbridge property?

While it may not reduce the actual value, a cluttered landscape next door can detract from the positive aspects of your home. Review your local laws, which should be on file at the public library, county law library or City Hall.

A typical "junk vehicle" ordinance, for example, requires any disabled car to either be enclosed or placed behind a fence. And most cities prohibit parking any vehicle on a city street too long. It also may be worthwhile to check into local zoning ordinances.

Real Estate Buyer Blog

Buyers ... Stay Informed on the Local Market

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Homebuyer Appointment Wish List, by Courtney Atkinson, Lethbridge Real Estate Expert

Looking at a large number of homes for sale in Lethbridge can be a confusing and time consuming process. There are many great homes for sale and many times the features of the homes begin to run together. Often real estate agents schedule viewing appointments one after another for their clients without consideration for how difficult it is to tell the difference between them. Oftentimes, Realtors will only show their Buyers their own listings, avoiding other homes that might better suit their Buyer's needs! This series of appointments should be groups of homes that fit the buyer's criteria. Having a good Lethbridge Realtor who has the skills to help you develop a good short list will ensure that your time is well spent and that you're only looking at homes that meet your needs.

Looking at one home after another is an efficient use of time as well as beneficial to the decision making process, so long as they are the RIGHT homes. It is easier for buyers to compare similar properties to one another when they are viewed on the same day. However, viewing too many Lethbridge homes on the same day can become a confusing and even overwhelming process. Century 21 Foothills - ACTION TEAM suggests creating a list such as the one in the example below to help you keep organized while touring potential homes for sale in the Lethbridge area. If you bring along a digital camera, take a snapshot of the listing sheet given to you by your real estate agent prior to each home tour. If your camera has voice recording or video capabilities consider recording a few notes for yourself after each home tour. This tip will help you remember the differences between each house choice.

Make a Wish List

Make a realistic list of what your ideal Lethbridge homes will look like. Think mainly of features and needs that are realistic and don't get caught up in all the things you'd "like" to have, but know you won't be able to afford. If a 6000 square foot coulee view home is not within your budget, don't include this on the list. Here are a couple good examples of a realistic wish list for most homebuyers:

Attached two car garage
Three bedrooms above grade
2 bathrooms plus an ensuite that has a standup shower AND a tub
Near shopping
No hardwood floors
Fenced yard for dog
Dishwasher
Pie shaped lot

Although many items on your list may be fairly easy and/or inexpensive to change (such as wall color or carpeting), if a home already fits your criteria, that is one less item you would need to change. In the end, if you are torn between two properties, the little details may be what make your decision. Courtney Atkinson, real estate expert, has seen many home buyers torn between two properties. The homes for sale in Lethbridge that come closest to the buyer's wish list will be the ones that will eventually form the Buyer's shortlist, one of which that will eventually be called "home".

There is a lot of property for sale in Lethbridge and having a real estate professional on your team can help you to navigate the difficult process of buying or selling a home in Lethbridge. Call me at 403.795.7777 or email me at info@courtneyatkinson.ca to discuss Lethbridge real estate or Lethbridge land for sale and I will be more than happy to answer all your questions. Or, if you would like instant access to information about buying, selling, or building a home in Lethbridge, including Lethbridge real estate values and more, please visit the most complete website dedicated to everything Lethbridge real estate at http://www.courtneyatkinson.ca.

Finding the Perfect Home in Lethbridge, by Lethbridge real estate expert Courtney Atkinson

Buying a home in Lethbridge can be a wonderful experience for anyone. There are all kinds of things you have to look forward to:

There's the first time you meet that great real estate agent who will work with you.
There's the first very first home you ever set eyes one.
There's the home you finally choose and fall in love with.

That's the perfect home, right? But how does one find their perfect home in Lethbridge? Is anything really ever perfect? Does the concept even really exist?

Let's take a look.

Many potential first time buyers envision their next home as a home with all of the amenities. That home may even have hardwood floors, super high ceilings, a fireplace, and many other things like that that you feel you can't live without. However, oftentimes, people will see home after home without finding every single amenity they desire.

Here's another thing that happens. Oftentimes, people find a home that has everything they need, but not everything they want. Sometimes a home has a lot of the things they want, but not what they need. The fact is that most professionals that are in the business of selling or showing homes will tell you that you will not find the perfect home. It just does not exist. You won't be able to discover a house that has every thing you have ever dreamed of and none of the things you don't want.

Most real estate agents will tell you that what you should focus on is making a list of what's really important to you. There are many different factors to consider. Think about price, style, location, condition, size, the neighbours, surrounding schools, crime rate, or the number of bedrooms you'll need. The list of what is important to you could really go on and on.

Writing things down is key. Planning to get a perfect home in the Lethbridge may leave you worn out because each home you look at just won't meet up to everything you have ever dreamed of. You may end passing up on a really good home in Lethbridge because you are so concerned with finding that perfect house. Worn out, tired, and aware that home prices are on their way up, you may end up just buying the last home you look at simply because you are fed up.

You certainly want to have a much more pleasant experience than that when looking for a home in Lethbridge don't you? You can have one if you change your definition of "perfect" just a little. Perfect doesn't have to be an absolute. Allow for a few adjustments to your dream. Then, you will find a home that will come very close to being that perfect home you have always imagined.

How to Find the Best Builder in the Lethbridge Area, by Courtney Atkinson, Lethbridge Real Estate Expert

Finding the best builder in the Lethbridge real estate market is perhaps the most important part of building a new home. There are several factors to consider before choosing a builder. After all, the best builder is the one who fits your project criteria and best meets the requirements of your project. Communication is also a very important to consider. The person/company you hire is going to be a large part of your life for the next several months and beyond. You will be living in the results of their work for years to come. Communication is vital to the success of the project. Real Estate experts at Century 21 Foothills - ACTION TEAM suggest buyers interested in new construction make a list of criteria for their project. Another list should be made that includes what they expect from a builder.

Gather a list of builder names that fit your requirements. Discuss your project expectations with each potential builder on your list. After interviewing all of the builders on your list, you will be able to make a short list of builders capable of fulfilling your project needs. Then you will be able to make an informed decision on which is the best builder to build your home in Lethbridge.

Below is a sample list of questions to ask potential builders for your project. For a complete list of homeowner and builder questions email Courtney Atkinson at info@courtneyatkinson.ca or by phone at 403.795.7777.

Builder Interview Questions:

Are you a licensed builder/contractor?

Are you a member of any professional associations?

How much experience do you have with building homes in the Lethbridge area?

What manufacturers do you work with?

Do you build the style/size/type of home in our project? (Hire a builder who has experience with the quality of home you are contracting.)

Do you have a guarantee? (price, move-in date, etc.)

Are you flexible with customization and/or changes?

The professional real estate agents at Century 21 Foothills - ACTION TEAM can help you find the best builder for your new construction home in Lethbridge. Contact us today for more information.

Why Payoff Your Mortgage Early?, by Courtney Atkinson, Lethbridge Real Estate Expert

Paying off your mortgage early is the goal of many Lethbridge home owners. Even if you are not disciplined, you too can pay off your mortgage years before it comes due. Homeowners who have this discipline, but lack the knowledge needed to pay off their mortgage early, can benefit from similar financial planning know how. It's really not that difficult. It just takes a little effort to set up, it will cost far less than you think, and the mortgage on your home in Lethbridge will be paid off before you know it!

Some Lethbridge mortgage lenders will set up a special repayment plan for free. These plans can be a biweekly repayment structure, or an extra payment. Although it is best to work out a repayment option that does not require you to pay an additional fee, if that is the only way you can make the payment – do it! Consider what the fee will cost against the amount of money you will save over the life of the loan. Generally, you'll save THOUSANDS over the life of your mortgage!

It is possible to pay off a 30-year mortgage in 20-years or less by making extra payments and/or more frequent payments. The mortgage on your Lethbridge home is a structured repayment plan. Any principal paid over the calculated amount will reduce your interest debt. Over time this translates into satisfying the mortgage debt years before it is due to be paid off. That's right, you could pay off the mortgage on your Lethbridge property as much as 10 years ahead of schedule! Just imagine what you could do with the extra money you will have each month once your mortgage is paid off! Perhaps you could retire early.

When you pay extra principal on your mortgage you build equity in your home faster. Many people in the Lethbridge area use this extra equity to upgrade to a larger home by selling and taking that money and putting it down on their next home. Yet other financially savvy people use the extra equity to purchase a second Lethbridge area home. This becomes an income property for them. They are well on their way to building wealth through real estate.

There is a lot of Lethbridge property for sale and having a real estate professional on your team can help you to navigate the difficult process of buying or selling a home in Lethbridge. Call me at 403.795.7777 or email me at info@courtneyatkinson.ca to discuss Lethbridge real estate or Lethbridge land for sale and I will be more than happy to answer all your questions. Or, if you would like instant access to information about buying, selling, or building a home in Lethbridge, including Lethbridge real estate values and more, please visit the most complete website dedicated to everything Lethbridge real estate at http://www.courtneyatkinson.ca.

Please click through the following link if you are interested in reading some of my other blog content related to buying a home in Lethbridge

appealing your property taxes

Where can I learn more about appealing my Lethbridge property taxes?

Contact your local Lethbridge tax assessor's office to see what procedures to follow to appeal your property tax assessment. You may be able to appeal your assessment informally. Mostly likely, however, you will have to go through a formal tax-appeal processes, which begin with an appeal filed with the appropriate assessment appeals board. Visit the City of Lethbridge website for more information.

loss from selling your home

Can I deduct the loss I suffered when I sold my Lethbridge area home? The Canadian Revenue Agency currently does not allow deductions for losses on the sale of your own home. In fact there's no way to use a loss on the sale of your principal residence to your advantage on your income tax return.
Read more...

inheriting a house

What are the rules on capital gains when inheriting a house?

When children inherit a home, the Canadian Revenue Agency determines their basis in the property on the date of the owner's death. The cost basis is not the amount the owner originally paid for the house, but the property's fair-market value on the date of the parent's death.

Cost basis is a tax term for the dollar amount assigned to a property at the time it is acquired, for the purpose of determining gain or loss when it is sold.

sellers disclosing other offers

Do sellers have to disclose the terms of other offers? Sellers are not legally obligated to disclose the terms of other offers to prospective buyers, but by law, a licensed Realtor must inform other potential buyers of existing offers.
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considerations before buying

What are some pre purchase considerations to think about?

When you buy a resale home, you can find out a lot more about the Lethbridge area property and the neighborhood before you buy than when you buy a new home.

Land to support new-home developments usually is located on the outskirts of town. Potential buyers should ask the developer about future access to public transit, entertainment activities, shopping centers, churches and schools. Find out how far it is to the nearest library, for example.

builders financing

Do Lethbridge area builders offer financing? Builders often include financing programs to help move more buyers into a project early on. If it's a buyer's market in the Lethbridge area, you can be sure that developers will offer incentives such as low-down-payment financing.
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are vacation homes an investment?

What do you think of a Lethbridge area vacation home as an investment? You can buy a vacation home today for investment purposes as well as enjoyment. And yes, there are tax benefits. Some people buy a vacation home in the Lethbridge area to use as a permanent retirement home later, which allows them to get ahead on their payments.
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Best time to sell a home

What is the best time to sell your Lethbridge house?

There is no "best" time to sell per se. Selling a house in the Lethbridge area depends on supply, demand and other economic factors. But the time of year in which you choose to sell can make a difference both in the amount of time it takes to sell your home and in the ultimate selling price.

Weather conditions are less of a consideration in more temperate climates, but most of the time, the real estate market picks up as early as February, with the strongest selling season usually lasting through May and June.

With the onset of summer, the market slows.

Disclosing property info

Whose obligation is it to disclose pertinent information about a Lethbridge area property? In Canada, it is the seller, but obligations to disclose information about a property vary. Under the strictest laws, you and your agent are required to disclose all facts materially affecting the value or desirability of the property which are known or accessible only to you.
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what is APR?

What is APR? The Annual Percentage Rate (APR) is the relative cost of credit as defined by the Bank of Canada.
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how rates are set for seller financing

How are the rates set for seller financing?

The interest rate on an owner-carried loan is negotiable. Ask your Lethbridge agent to check with a lender or mortgage broker to determine the current rate on institutional first (or second) loans.

Seller financing typically costs less than conventional financing because sellers don't charge fees. Interest rates on an owner-carried loan will also be influenced by current Treasury bill and certificate of deposit rates. Sellers usually aren't willing to carry a loan for a lower return than they would earn if their money was invested elsewhere.

which home insurance should you get?

What kind of home insurance should I get?

A standard homeowners policy protects against fire, lightning, wind, storms, hail, explosions, riots, aircraft wrecks, vehicle crashes, smoke, vandalism, theft, breaking glass, falling objects, weight of snow or sleet, collapsing buildings, freezing of plumbing fixtures, electrical damage and water damage from plumbing, heating or air conditioning system
.
Such policies are "all-risk" policies, which cover everything except earthquakes, floods, war and nuclear accidents.

replacement cost insurance

What is guaranteed replacement cost insurance? Guaranteed replacement insurance is a more comprehensive policy. It tends to cost more, but it promises to cover the complete costs -- less deductible -- of replacing a destroyed house. With these sorts of policies, limits on the policies are not as common, because complete coverage is more explicit.
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