The home closing process, a pivotal part of the home buying or selling journey, involves the transfer of property ownership from seller to buyer. It involves intricate steps, each with its own legal and financial implications. From initial agreements to closing costs to the final handshake, understanding this procedure can be daunting yet crucial. A thorough grasp of the intricacies can save individuals time, money, and unwarranted stress, ensuring a seamless transition to their new abode.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
What Is a Home Closing?
After going through inspections, negotiations, and all the legal and administrative motions
Calgary has a buzz on. Life in Alberta's biggest city is good, the economy is thriving, work is abundant, wages are high, taxes are low, homes are affordable, lifestyles are diverse, and the natural scenery rivals anywhere in the world. And, it's been a record year for Calgary real estate, with residential sales 12% above the 10-year average.
Still, as we prepare to ring in a new year, it's all about the supply chain in local real estate – an inventory level that is now at its lowest since 2005, largely impacted by the withdrawal in sales and new listings. Lower-priced properties felt the stiffest conditions as higher-priced homes drove supply growth this year.
For informational purposes only. Always consult with a licensed real estate
It is increasingly popular for homeowners to add a basement suite to their primary residence. Calgary homes with a basement suite can be rented to someone else to help reduce mortgage costs, and they're one of the best properties for multi-generational homes. No matter the reason for adding a basement suite, it will need several permits required to make a legal basement suite in Calgary. Additionally, basement suites containing a kitchen and bathroom that were built before March 12, 2018, will require the same permits to bring it up to the most recent codes. Here's everything you need to know about the permits required for basement development in Calgary.
Examine the Scope of Your Basement Development Project
Homes with basements give owners opportunities to have extra space to offer as rentals. Investing in a home with a basement suite allows owners to earn passive income and offset mortgage payments, providing increased equity as the home appreciates. Basement apartments can be lucrative, but they require unique steps from start to finish. Here's what you need to know about converting a basement into an apartment, accommodating local zoning laws, and finding tenants so you can profit off your basement suite.
What Is a Basement Suite?
Basement suites are separate units located on the lower levels of a home. This means that another individual can live there, essentially turning a single-family home into a multi-family home. Homes with basement suites
Where to live is not the only thing to think about when buying property. It's also essential to consider what type of property is best. A single-family home works well for many as it offers ample space and the flexibility to design and style it as the owner wishes. Yet, there are a few compelling reasons to consider condos for sale instead. Condos are located in a shared building, but they still allow for full ownership. Keep reading to learn four reasons to buy a condo instead of a single-family home.
Condos Are Great First Investments
Condos can be an exciting point of entry to the real estate world for first-time home buyers. They tend to have a lower purchase price than homes of the same size. That lower cost typically translates into a
While there are pros and cons to multigenerational homes, this living arrangement has become more commonplace in North America. Homeowners anticipating an aging loved one moving in or already have a senior aging in place with them will want to make their homes accessible for everyone.
These homes can be multi-family properties, but they can also be single-family homes. If you want to learn a few key ways to make a multigenerational home accessible, the following are some top home modifications to ensure a senior can live there while maintaining independence.
Make a Plan Before You Get Started
Homeowners will want to evaluate the specific needs of their aging loved ones to ensure they can live out their golden years in a safe environment. Is
With rising housing costs, a growing number of Canadians are choosing to live in multigenerational homes with children, parents, and grandparents all under one roof. Which type of home works best for this living arrangement? Logically, multi-family homes are viable options for multigenerational families, but they aren't the only options.
Every family is different and will have different needs in terms of privacy and comfort. There are also many advantages to multigenerational living, such as elderly parents being able to age in place and more caregivers available for raising the children. Here is a closer look at different types of multigenerational homes where Canadians make an extended family living situation work.
When it comes to picking different house architecture styles, there is a plethora to choose from. Everybody has different criteria for their preferences, lifestyle, and budget.
Bungalow-style homes are booming in popularity in Canada. A bungalow typically consists of a single-storey small house with a sloping roof and broad porch. These homes are full of practical arrangements and distinctive Bungalow details and designs that can match the needs of many different people. Keep reading to become an expert on the common characteristics of bungalow-style architecture.
Types of Bungalows
While it may seem like bungalows are just one type of home, there are actually many sub-types of bungalows that have different styles based on where the style
Living situations can be complex and are ever-changing: co-living culture has taken off in recent years, and the ability to rent rooms in the short term has grown with the internet. Multigenerational homes, however, represent a combination of the old and the new, providing a viable and comfortable living situation for people with different circumstances.
You've likely heard of a multi-family home, a free-standing building containing multiple units intended for different tenants — usually families. In other words, three different families may live in one multi-family home, each in a self-contained unit within the building. Meanwhile, multigenerational homes refer to a single residence or other building that houses multiple generations of adults, all
Buying a waterfront home is an exciting opportunity. Doing so may mean having direct access to the water in some areas. In other areas, owners may have a view and the ability to walk to the waterfront itself. From lakes to rivers, buying waterfront homes requires paying close attention to more than just the way the home looks and its amenities. It is also essential to consider the laws and regulations regarding these properties. This can differ from one area to the next. To keep everything straight, it helps to know what to ask. Keep reading to learn what questions to ask before buying a waterfront home.
What Are the Boundaries of My Waterfront Ownership?
In Alberta, waterfront landowners typically own the land directly bounded by a natural water