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New Incentive for First-Time Home Buyers

The Canadian Federal government just announced their new Federal budget incentive that could help first-time homebuyers with their mortgage. This new incentive is to try to help the housing affordability crisis in many cities in Canada, such as Vancouver and Toronto. 


Home-buyers are still required to have at least 5% down payment for the home, but they would have a 10% incentive provided by the Canada Mortgage and Housing Corporation (CMHC) if it's a new home, or 5% if it's a resale. 


Homeowners need to pay back the incentive from the CMHC, most likely when they decide to sell their home or sooner if desired. Details on repayment are still unclear.


Here's an example from Global News in regards to how the First-Time Home Buyer Incentive would work on a price of $400,000:


Let's hope that this new incentive can help provide first-time home buyers with some relief.


Resources:

https://globalnews.ca/news/5069183/budget-2019-canada-housing-affordability/

https://nationalpost.com/news/canada/federal-budget-2019-offers-first-time-home-buyers-a-break-with-1-25-billion-in-mortgage-relief

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Spring is finally here, which means more and more open houses are here!

If you're thinking of selling your home, or currently have your home up for sale, here's a few tips to help you prep your home for open houses to make sure that it's in its best state possible to get you the best deal possible!

First Impressions are Important!

People always say, "you don't get a second chance to make a first impression", which is also true when it comes to your home! So make sure that your home gives off the best first impression yet by stepping outside, and making sure that everything looks good. This includes your exterior paint, windows, front lawn, drive way, side walks... and more. Make people want to come into your home just by looking at the outside!

De-clutter

Get rid of that pile of old CD's in the corner that you don't listen to anymore, or that weird antique clock you've always hated. Throw out anything that you don't use or want anymore, to make your house appear more spacious, and make the focus on your house, and not your belongings. Less is more!


Clean, clean, clean!

Make sure that your house is sparkling when it's time for the open house, or any showings. While most cleaning up can be done yourself, however, deep cleans may require a professional. Carpet cleaners, window cleaners... are all professionals that can help you deep clean things that you can't on your own. Feel free to contact us if you're having trouble looking for a cleaning professional, we know tons!

Staging

Now, staging is something that you can do on your own if you have nice, clean furniture. But, it could be something that you may consider hiring a staging professional for. Staging professionals have all sorts of furniture and equipment to make sure that your home looks nice, clean, and modern. They also know how to arrange furniture to ensure your house looks the best.


Remove Personal or Valuable Items

During an open house, you want the focus to be on your HOUSE, not your fancy, personal belongings. You want them to be able to envision themselves living there, with their family, and their things, so remove any sentimental items to show them that this can be their home! Also, there's a lot of traffic during open houses, so make sure to keep your valuables hidden or removed to prevent any unfortunate situations.

Bright Light

Make sure to open all your blinds, lights, windows... during an open house. Brightness makes people happy! No one wants to live in a dark, scary home!



Hope some of these tips were helpful, and that you are well-prepped for your open house. 

If you're looking to buy or sell, CONTACT US TODAY to see how we can help you embark on your journey!

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