Green Spring Cleaning Your Muskoka Home

Sprin Clean GreenAfter enduring an extra long winter it’s finally time to fling open the windows of your Muskoka home and let in the fresh spring air . It is also time to tackle the dreaded spring cleaning. Conventional cleaning products can be more dangerous than the dirt they’re intended to clean so what are your options? The way we clean (with lots of disposable paper towels) isn’t always earth-friendly either. However, there are many available alternatives that can help you make your home squeaky clean—and green too!

Green Cleaning Products

The last thing you want to do is dump toxic chemicals into our beautiful environment as you clean. These days, you don’t have to make a special trip to a speciality store to seek out environmentally friendly cleaning products. Green Works products available in many stores including Walmart and the Green line from Independent Grocers are just a couple of the many products available that both protect the environment and work as well as the more traditional brands.  Or, if you’re up for a DIY challenge, you can make your own natural homemade cleaners yourself. It’s easier than you might think! The basic supplies you’ll need to make your own green cleaners include:

Distilled white vinegar (sold in most supermarkets)

Baking soda

Olive oil

Borax (sold in a box in the laundry aisle)

Liquid castile soap (a natural soap base made from saponified organic oils of coconut and sunflower. found in most health foods stores)

Essential oils (super concentrated natural plant oils found in health foods stores, usually in the cosmetics section)

Microfiber cleaning cloths

Newspaper

Here are a few basic “recipes” and techniques to get you started:

Glass: Mix 1/4 cup vinegar with one quart of water in a spray bottle. Spray on glass and wipe clean with old newspaper or a lint-free cloth.

Countertops and bathroom tile: Mix two parts vinegar and one-part baking soda with four parts water. Apply with a sponge, scour and wipe away.

Floors: Mix four cups of white distilled vinegar with about a gallon of hot water. If desired, add a few drops of pure peppermint or lemon oil for a pleasant scent. After damp mopping the floors, the smell of vinegar will dissipate quickly, leaving behind only the scent of the oil.

Wood furniture: Mix equal parts lemon juice and olive and oil. Apply a small amount to a cloth and rub onto the furniture in long, even strokes.

Toilet bowl cleaner: Sprinkle a toilet brush with baking soda and scrub away! Occasionally disinfect your toilet by scrubbing with borax instead. Wipe the outside of the toilet with straight vinegar.

Disinfectant: Mix two teaspoons borax, four tablespoons vinegar, three cups hot water and 1/4 teaspoon liquid castile soap. Wipe on with dampened cloth or use a spray bottle. Wipe clean.

Mold and mildew: Wipe with straight vinegar.

Air freshener: Sprinkle essential oil on a cotton ball and stash it in a corner of the room. If you have kids, make sure it’s out of their reach, as essential oils are very strong and could irritate their skin. Lavender is a relaxing scent that is great for bedrooms, while cinnamon, clove and citrus oils are great for the rest of the house. You can stash a few in the car, too—try peppermint, which may help you stay alert.

Green Cleaning Tips

Hang dry your laundry. Drying your clothes in an electric or gas dryer isn’t just hard on your clothes, but it’s also hard on the environment. Don’t stop with natural laundry detergent—to truly stay green, install a clothesline in your backyard. If space (or aesthetics) is an issue, look for a retractable clothesline, which takes up almost no space when not in use. Weather permitting, line-dry your clothes outside to reduce pollution, while also cutting your energy bill, getting more exercise, enjoying the fresh air and extending the life of your clothes. Plus, they’ll smell like a clean breeze (the real kind, not the chemical kind).

  • Add a little greenery. Install a living air filter—houseplants! Some of the most efficient air-cleaning houseplants include spider plants, English ivy, rubber plants and peace lilies. You’ll need 15 to 18 medium-size (six- to eight-inch diameter container) houseplants for the average 1,800-square-foot house. If that sounds like a lot, place a few plants in the room where you spend the most time.
  • De-clutter your wardrobe. Donate gently worn items to charity, where they’ll get a second life, and donate torn and stained items (if they’re made of an absorbent fabric) to your rag collection, where they’ll replace wasteful paper towels. And as you’re packing up your winter sweaters, replace stinky mothballs with a natural and better-smelling version: Stuff a lonely unpaired sock with cinnamon sticks, bay leaves and whole cloves and tie it at the end.
  • Paint your walls green. If spring cleaning at your house involves a fresh coat of paint, consider the VOC content when choosing your paint. VOCs, or Volatile Organic Compounds, are chemicals that form vapors at room temperature. Some VOCs, like the ones in many paints, contribute to smog and indoor air pollution, and can cause a host of short- and long-term health problems. The good news is that many paint manufacturers have started making low- or no-VOC paints. The bad news is that many of those manufacturers have simply substituted VOCs with other non-VOC (yet still toxic) chemicals. For truly eco-conscious safe paint, check out these products: Homestead House Paint Co., Benjamin Moore Natura and Sherwin Williams Harmony.
  • Swap out your Swiffer. Instead of continually buying expensive single-use mop pads, invest in a reusable mop or cloth head. There are many brands available and Walmart even has some that will fit over an existing Swiffer type mop. These mop heads can be washed in your washing machine, hung dry and used again and again—well worth their moderate price tag.
  • Stop using paper towels. Save trees, cash and landfill waste when you buy specially-made, washable cleaning and dusting cloths, available in all types of fabrics, from cotton to microfiber. Better yet, use what you already have and give an old piece of cloth (stained towels, ratty sheets and pillowcases, too-small t-shirts, etc.) a new life. Simply cut or tear your old item into smaller squares (if you want to get fancy, finish the edges with a sewing machine), and voila! Pop them in the washing machine with your laundry to clean and use them again and again.

Cleaning up your Muskoka home for spring doesn’t have to be dirty work. By implementing some of these ideas and products, you will benefit your body, your home and the planet. Many of these changes are small ones, but their impact on your health and the environment can really add up over time.

 

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Buying a Muskoka Fixer-Upper Home Yes or No?

Have you been thinking about buying a Muskoka home to fix up and live in? There is a certain romance to the thought of taking on a home that needs a lot of work and making it yours with your own blood, sweat and tears.  Maybe you’re on the other side and thoughts of Tom Hanks and Shelly Long throwing their money into a “money pit” have you saying “No way, not for me!”.

A traditional fixer-upper is a property that will require significant renovations, reconstruction or redesign to be habitable or saleable at market value. They typically list and sell below the market value of homes of equal size and vintage in similar neighbourhoods.

So, you need to ask yourself if a fixer-upper is a bargain brimming with potential OR should it be avoided like the plague? The answer to this perplexing question will depend on several factors, including you!

One of the best reasons to buy a fixer-up home or cottage is for the location &/or lot. If you are determined to live in a particular part of Muskoka it may mean you have to “snap up” what is available and then fix up the home or cottage to suit your needs.  If the size and structure of the property are right for you, it likely makes more sense to renovate as opposed to a complete demolition and rebuild which can be more time-consuming and in most cases more expensive.

Renovating a fixer-upper is expensive, and you can’t often finance a renovation.  Typically it is not a project for a first-time buyer as usually all available funds are directed to the actual purchase.  Remember that a fixer-upper is a large project, not the usual renovation projects most of us plan to do over time after we move into new home.  So, to tackle a fixer-upper you need to have some capital tucked away to fund the project. Typically, it is a second or third-time home buyer who has a little DIY experience who takes on a fixer-upper home.

A buyer for a fixer-upper is sometimes someone looking for their “forever home” or they may be an investor seeking poorly-maintained properties to fix and flip. In both cases they have usually had several home purchase experiences under their belts and can rely on this to help them through tackling a large project like this.

As a buyer you need to consider your time, money and knowledge when taking on a fixer-upper. Will the time and money involved in fixing up a home or cottage be worth it in the end? If your full-time job is contracting, will the time spent on your own project be as valuable in the end as working on paid contracts?

Be prepared for surprises.  Buyers for this type of property often don’t spend money on a Home Inspection. Without a thorough inspection of the property you could miss costly remediation issues like mold, asbestos, or faulty foundations.

Also be sure to include time for due diligence to explore municipal regulations, zoning and permitting.  And, allow adequate time to carefully cost out the renovation – small things add up. Doing so could save a lot of heart ache or even financial loss.

A final consideration is whether you will need to hire a project manager or do it alone.  Will you hire a contractor for the entire project, or manage contractors and trades for the different jobs yourself? Hiring trades for everything can be a challenge to coordinate if you’ve never done it before especially if you don’t know the local trades people.  And remember, the good ones are often booked several months out.

As a local Realtor with many years of experience I am happy to help you find a perfect project home or cottage.  And, if you have your heart set on a “fixer- upper” with my contacts in the region I may be able to suggest trades people you will need to be successful in your venture.

Legal Cannabis and your Muskoka Home

October 17, 2018 is a big day for many Canadians who have wanted to see the use of recreational marijuana made legal. But what will the impact be on your Muskoka home and its future resale value? Will you choose to legally grow cannabis plants in your home? Will a home you wish to purchase in the future have been used as a “home grow” that may have caused hidden issues? Will being close to a legal commercial “grow op” impact value? Is being close to a retail outlet a pro or a con? These are important questions to think about.

What the New Law Says

  • 4 Cannabis plants may be grown in each residence-includes apartment/condominium units
  • No growth height restrictions
  • Could include outside garden, but may be determined by province but Ontario has made no specification at this time
  • No regulation on safe growing.

Risks to Consider

  • Mould and moisture damage
  • High-voltage lights pose a potential fire hazard

In a CBC interview the Canadian Real Estate Association (CREA) said the government’s plan to allow so-called “home grow” could lead to the spread of mould and other fungi in residences across the country — which could result in some costly surprises for home buyers.

“There’s absolutely no question it impacts the value of the home,” Michael Bourque, chief executive officer of CREA, told senators, adding the physical effects of a grow op can often go undetected during a home inspection.

The new law will limit home marijuana growers to four plants per household. The government initially intended to limit plants to 100 centimeters in height, but the House of Commons approved an amendment that removed such a restriction.

“On the surface [four plants] sounds moderate, but the legislation doesn’t limit the number of crops or the size of each plant. Four plants could yield over five kilograms a year, which has the potential to cause structural damage to dwellings and comes with associated health consequences,” Bourque said, noting the use of fertilizers and pesticides in the growing process could exacerbate environmental health risks in a home or a multi-unit dwelling that shares air circulation.

The question of buying a home that has been used to grow cannabis or trying to sell one that has, may be of less significance that the proximity of home to retail and commercial grow facilities. In a recent Zoocasa story this was the data they discovered.

In the journal “Real Estate Economics,” James Conklin and co-authors studied the conversion of medical marijuana stores to recreational marijuana, and the subsequent effect on housing prices in Denver, Colorado after legalization in 2014.

Their research showed that homes located near converted stores experienced appreciation at 8% higher than homes further away.

Realtor.com also reported on American cities having undergone a year of experience with recreational marijuana sales. Their data showed a significant increase in home prices — well above the national median price.

The same data shows that while proximity to a pot shop tends to increase home value, Colorado homes close to grow-ops have lost value. Evidently, the pungent odor of pot is a sticking point for many American buyers.

There is no Canadian data available yet, but it is something for us to watch.

Will it be a “big deal” in the “big picture”?  In a CBC interview Jonathan Page, a botanist who has studied cannabis extensively and serves as the CEO of Anandia Labs, said he doesn’t expect a new flood of grow ops to result from the bill and predicts most Canadians will simply opt to buy the product from a licensed provider.

“I think this is an exaggeration. Canadians can produce their own beer and wine at home, grow tobacco for personal use, and yet the vast majority buy these products from stores,” he said.

No matter what the future holds as a Muskoka home owner you need to be informed. Your choice to grow cannabis while legal may have more ramifications than you think. As a Muskoka Realtor you can rest assured I will be talking to my Sellers about stigmas, defects and disclosure; and ensuring my Buyers conduct independent research into properties they wish to purchase.

For more information about marijuana legalization in Ontario, please refer to the Ontario Governments web site.

 

 

 

It’s time to get your Muskoka Home ready for the cold weather!

Fruit Flies - Karen Acton Muskoka RealtorIt’s finally here the first nip in the air that signals a change of season. From the first days of September, which probably still feel like summer, to the last, when you will be able to notice a chill in the air and even a frost or two. September is a time of transition. Get your home ready for the season ahead by choosing some of the tips from my “to do” list, from adding cozy layers to scheduling necessary maintenance.

Make things cozy. With the first few chilly nights under our belts think about swapping out lighter-weight bedding for flannel sheets and fluffy duvets. This will allow you to keep the furnace turned off for a week or two more!  Bring added warmth to your living room with throws and pillows in rich fabrics and deep colours. Remember that area rugs and curtains not only make a room feel cozier, but they also can help your home feel warmer and can help reduce your energy bills.

Order in your winter fuel. Get a jump start on the local demand by calling the fuel oil or propane supplier your use and getting your tanks topped up. If you use a wood stove for actual warmth or just for coziness, now is a good time to order a delivery of firewood. Remember, don’t store large quantities of wood directly against your home or cottage as it can encourage pests, but do keep it protected from rain and snow.

Vacuum radiators, baseboard heaters and heating grates. Prepare for the heating season by vacuuming up dust from radiators, baseboard heaters and heating grates. If you have radiators with covers, remove the covers and vacuum beneath them before replacing.

Check safety devices.  Take a few minutes to do one of the most important tasks you can for your family…test the smoke detectors and carbon monoxide detectors and replace batteries as needed. Don’t forget to check the expiration date on your fire extinguisher and replace if needed.

Clean and store your AC units. If you use window air-conditioning units, now is the time to either remove them or cover them outside with protective insulation. Removing the units is better as it allows, you to close the windows and this will minimize winter heat loss. Use a shop vac to clean the dust and debris out of the vents before covering them for storage.

Cover or store outdoor furniture and BBQ. If you plan to leave your patio furniture or BBQ outside through the fall and winter, cover them well and stow them beneath an overhang that will protect them from rain and snow.

Add weather-stripping. Newer windows may not need weather-stripping, but it will help most older windows retain heat and stop drafts. Doors, including the patio doors you will not use too often during winter, also need to be sealed if they are older.  Check areas with previously applied weather-stripping and remove or replace as needed.

Inspect the roof and gutters. This one may need to be done at the end of the month or even next month if the leaves are late changing this year!  Clean out the gutters and downspouts, pull out any sticks or other debris blocking the gutters, and make note of any worn-out seals around vent pipes and chimneys. If you do not feel comfortable on a ladder, or have a home of two or more stories, hire someone to do a quick inspection for you. Schedule any needed repairs now so that your home will be ready for winter.

Schedule chimney and furnace maintenance. Make sure your fireplace and heating system are clean, safe and ready to go by having a professional look at them now. Having your chimney cleaned will also ensure that you don’t try to start a fire when an animal nest or creosote build up is inside. If you don’t have a chimney cap yet, speak with your chimney sweep about adding a one. The metal cap with screened sides can prevent critters from getting in and helps protect your roof from burning embers.

Maintain the washer and dryer. Cleaning out the dryer vents can be a DIY job, but if you don’t feel comfortable doing so (or if you’ve been putting it off), you may want to hire a pro to do washer and dryer maintenance for you. Washing-machine hoses need to be replaced from time to time, and a cracked hose can cause a leak — which can mean costly damage to your home. Clean dryer vents and hoses will help your machine work more efficiently and reduce the risk of fire.

With these important things looked after, you can look forward to the change of seasons knowing that you’ll be safe and warm in your Muskoka home.

Managing your well in a Muskoka Drought

dug_wellIn all areas, including Muskoka, groundwater levels in wells will vary over time.  While we are not experiencing an official drought yet, we are definitely in a “dry spell” and more and more people are starting to have issues with water levels and the quality of water in their wells. Water conservation and pump adjustments can help manage your water well during drought.

Droughts can be stressful for the many Muskoka residents who rely on private wells for their water supply. As wells tap groundwater aquifers that cannot easily be seen or monitored the very invisible nature of groundwater leads to an uneasy feeling among home and cottage owners relying on wells. There is an almost constant fear that their water supply could dry up without warning. 

The Normal Cycle of Groundwater Levels

The water level in a groundwater well will fluctuate naturally during the year. Groundwater levels tend to be highest during March and April in response to winter snowmelt and spring rainfall. The movement of rain and snowmelt into groundwater is known as recharge.

Groundwater levels usually begin to fall in May and continue to decline during the summer. Groundwater recharge is limited during late spring and summer because trees and other plants use the available water to grow. Natural groundwater levels usually reach their lowest point in late September or October. In late fall, after trees and plants have stopped growing and before snow begins to fall, groundwater levels may rise in response to rainfall and recharge. Groundwater recharge persists through the fall until cold temperatures produce snowfall and frozen soil that limit the ability of water to infiltrate into the ground. Groundwater levels during winter may be stable or fall slightly until spring snowmelt and rainstorms start the annual cycle again. Given this natural cycle of groundwater, most problems with wells tend to occur in late summer or early fall when groundwater levels naturally reach their lowest levels.

How Can I Conserve Water?

Water conservation measures become critical during times of drought. If you rely on a private well, you should conserve water as mush as possible always and especially as soon as drought conditions occur.

You can significantly reduce the water use within your cottage or home by making changes in habits and by installing water-saving devices. Examples might include flushing the toilet less often, taking shorter showers, only washing full loads of dishes or laundry, not rinsing dishes before the dishwasher unless especially dirty, not rinsing anything under running water but filling a sink or basin to rinse, brushing teeth with a glass of water and not a running tap, collecting water from roof gutters into rain barrels for outside use. Other good things to implement are household bans on the nonessential use of water such as car washing and lawn watering.  

What Can I Do If My Well Runs Dry?

There are a number of reasons why a well may quit producing water. Water quality problems like iron bacteria and sediment may clog the well and severely restrict water flow and the recovery rate of the well. This becomes more noticeable in dry seasons when there is less ground water available. Shocking or cleaning your well may increase the flow of water however it will not bring back water to a dry well unless the water table comes back up.

Under persistent dry weather conditions, the water level in your well may drop below the submersible pump or intake foot valve, causing a loss of water. In some cases, the water level may only temporarily drop below the pump/intake when water is being frequently drawn from the well during showers or laundry. Under these conditions, you may be able to continue using the well by initiating emergency water conservation measures and using water only for essential purposes.

If the water level permanently drops below the submersible pump or intake, it may be possible to lower the pump/intake within the existing well. In most cases this will only provide a short-term solution to the problem. More permanent solutions require either deepening the existing well or drilling a new well. Be aware that deepening an existing well may not increase the well yield and could produce water of different water quality characteristics. You should consult with a local well driller  to determine the best solution for your situation.

Proper management of private wells during droughts will become more important as competition for water in Muskoka increases.

Can I have water delivered to my well?

The simple answer is of course yes but the honest one is that it is not worth it. A well is a tube not a cistern. It has no bottom so if you put in several hundred gallons of water it will seep out of the bottom until it is gone or reaches the level of the water table. You will only be able to benefit from the water for a brief time before it drains away. Having water delivered to your well is not a fix and much of what you pay for will seep away.

As a Muskoka realtor I try to ensure that my buyers are aware of the water source at any potential home or cottage they want to purchase. I include a potability (safe drinking water) clause and often include a clause about the well pump and production. However, no home owner can control the water table and if you are living with a well, or plan to be, you will need to understand how it works and how to best protect your family in the occasional drought we experience here in Muskoka.

5 Things to consider when investing in a Muskoka Property with a friend

Friendship HandshakeBuying a cottage or a rental investment property in Muskoka can be a smart financial move. As you pay down the debt, you build equity in a property that will in all likelihood appreciate in value over time.

There are the tax benefits in most cases as you can deduct your rental expenses from any income you earn, including items such as mortgage interest, property taxes, insurance, repair and maintenance costs, and property management, all of which saves you money at tax time. The primary benefit of course is the revenue stream it will generate. However, as owning investment property requires an investment of time and effort as well as money, choosing to share that burden with a friend can make sense. This is definitely appealing but it will come will with some challenges.  Here are five things to give serious consideration to before investing in real estate with a friend.

 1. Your Mortgage Rate Will be Tied to Both Credit Reports

When applying for financing on a property purchase both you and your friend’s credit history will be used.  If one of you has bad credit it can negatively affect the mortgage terms, including the interest rate that you pay on the loan. Remember that even a minor change in interest of even 0.5% will make a big difference in the amount due every month on your mortgage and in the total interest you’ll pay over the life of the loan.

2. You Risk Your Good Credit Rating

When both you and your friend are listed on the mortgage, you are both responsible for making payments. If the mortgage falls behind for whatever reason, the lender will report both of you to the credit agencies for non-payment even if it is not you personally in default. Because both names are on the mortgage, your friend’s non-payment could end up costing you big on your credit report and significantly affect your future potential to borrow money for your personal requirements.

3. You May Have Challenges Getting Other Loans

Assuming there are no issues and you and your friend split the mortgage payment each month 50-50 with no defaults you still need to know that each of you alone is responsible for the entire mortgage payment.  To a new lender, say, for a car loan or a personal home purchase, this can have a substantial impact. They will include the whole payment amount of that mortgage in the debt-to-income ratio calculation and it may make it difficult to qualify for other loans.

4. No “Easy Button” for Moving Out

If you rent an apartment or house with a friend, it’s usually easy to walk away if the two of you no longer get along, or if you just decide to move. Not so with a mortgage. Since both of your names are on the title of the property and the mortgage, you are both responsible for making the payments. To get one of the names off the mortgage and deed, you have to sell the house on the open marker or one to another. Selling on the open market can take time and sometimes even result in a loss if the market conditions are not ideal.

It’s a good idea to have a written agreement in place that details your agreed-upon exit plan should one of you decide to move on. The agreement should also cover what happens if either of you dies. Does the survivor become the sole owner, or does he or she need to buy out the heirs of the deceased partner? What percentage of the property you each own? Will the property be sold, and if so, how will the proceeds be divided?

Another good idea for financial protection is for both parties to purchase life insurance on the mortgage in case of death.

5. Disagreement Over Responsibilities

A great friendship can be quickly tested if there are any disagreements over who is responsible for a property related undertaking.  Payment of utilities and taxes, maintenance, hiring support help when required, budgets for work required and other items that need attending to in a timely fashion are all potential sources of conflict.  To avoid this, include in your written agreement details regarding the breakdown of expenses, how repairs and maintenance will be handled (who will do the work, and how the costs will be shared), plus how deductions will be claimed (e.g., who gets to claim the mortgage interest deduction or whether you split it in some way).

The Bottom Line

Buying an investment property with a friend will have lots of benefits:

  • It should be easier to qualify for a mortgage
  • you get to share all the monthly expenses, including utilities, maintenance/repair costs and the mortgage payment.
  • you get to build equity as you pay down the loan.

This kind of purchase will also have some challenges and it is important to make a well thought-out and informed decision.  Do your homework ahead of time, and make sure you and your friend both have the income to meet the monthly expenses of the investment without relying on any potential income from it.

Most importantly, protect your friendship and avoid trouble down the road by having a written agreement.  It is a good idea to hire a lawyer to write a comprehensive agreement that details who is responsible for what, what happens if one of you wants to move on, and how the property will be handled if one of you passes away.

If you and a friend have been pondering this type of partnership I would be delighted to help you find the perfect property, call or email me today!

How to Buy a Muskoka Home While Still in Your Twenties

Karen Acton 20 somethingsI have got to give it to you the millennial generation, you are an educated, tech-savvy group and you typically knows what you want. The last few years I have been noticing that many of you “twenty-somethings” have decided that what you want is to buy your first home.

Of course, there are apps galore on just about everything out there, but swiping right isn’t going to get you into your first home – though it probably will help you locate the ones you want to see!

For a more realistic and practical approach however, these five time-tested tips may work better for you.

Are Your Ready to Commit

It has likely been said more than any other piece of home-buying advice out there… Buying a home may be the largest and most important purchase you’ll make in your entire life. You need to know you’re ready for that type of commitment. Millennials have been deemed a nomadic bunch – so, it’s important to note that most home buyers stay in their homes for at least five years – and, that’s just so they can recoup the costs of their purchase.

Buying a home also means you must be ready to get your hands dirty. Handy work like replacing smoke alarm batteries, maintaining landscaping and even changing air filters typically falls in a homeowner’s hands not to mention painting and decorating.

If you can commit to this then you just might be ready!

Understand Your Finances

When it comes to buying a home, a mortgage broker will consider every part of your financial picture. From your current income to your bills and spending habits to the savings you have for your down payment. Since a lender is going to have to verify your finances its good that you know exactly what they will find before they get there. Find out how much money you have coming in and going out and how much you will be able to devote to a monthly mortgage payment.

When you’re considering your finances and budget, also consider the fact that homeownership expenses do not end with the monthly mortgage payment. Home owners are responsible for insurance, property taxes, utilities and any money it costs to cover routine maintenance or unexpected home repairs.

Consider Credit and Savings

Your first brush with credit may have been when you were inundated with credit card offers on your first day of college classes. By now you have probably established some type of credit – and, hopefully it is good. Lenders will consider your credit score when it comes to mortgage approval. Remember – the better your credit score, the better interest rate you’ll be offered. You can improve this score by making sure you carry small or no balance on your cards and pay them on time every month.

In addition to your credit a lender need to see your savings. When you’re buying a home, you’ll need to have money available for the down payment as sufficient to cover closing costs.

Have you saved the money you’ll need when it comes time to buy?

Get Preapproved

I am sure you can see that buying a home is largely a financial process, so it only makes sense that the mortgage process may be a long one, right? So, before you start to look at possible homes it is wise to seek out several lending institutions. They will compete for your business if you have got all your affairs in order, so you can shop around and settle on the one you’d like to use.

Just like every buyer is different, so is every lender. Some may be more lenient when it comes to credit history. Some credit unions or banks if you are a current customer may offer lower rates than other lenders.

Consider all options before choosing a mortgage lender.

Work with Realtor You Trust

The ever-important last piece of the home-buying puzzle. This is one area where I would not advise following a DIY mentality. Professional real estate sales representatives have the training and know-how to lead any first-time home buyer to a home that’s right for them. A trusted Realtor will help you make up your “needs and wants” list when it comes to a home; they will help you consider your long-term goals for your new home; and, they will search for homes, show you homes, negotiate and walk you through the entire offer and closing process… right down to the point where those new home keys fall into your hands.

There will be plenty of DYI to do once you own your new home, especially when it is your first time, a guide through the process only makes good sense. Let me be your guide!

To see current listings in Muskoka click here