by Becky Guthrie
Sold, Toronto, Bedford Park
298 Woburn Ave. (Yonge Street and Lawrence Avenue, Bedford Park, Toronto)
Asking price: $1.049-million
Sold for: $1.045-million
Taxes: n/a
Bedrooms: 5+1
Bathrooms: 5
Time on the market: seven days
By Connie Adair
In the John Wanless school district, this home enjoys a “fabulous location” within walking distance of Yonge Street, Avenue Road amenities and the subway, says listing agent Andre Kutyan. The five-bedroom, five-bathroom stone-and-stucco custom home is ideal for entertaining, he says.
Crown moulding in the combination living and dining room, granite counters and a breakfast area in the kitchen and a gas fireplace in the main-floor family room are features. The master bedroom has a gas fireplace, a walk-in closet and a six-piece ensuite bathroom. A walkout from the third floor leads to a deck.
A fifth bedroom and a recreation room are on the lower level. This less than one-year-old home is on a 20x120-foot lot with a detached two-car garage.
Source
Comments:
I s house pricing picking up? The way I look at it is still a seller's market.
Wednesday, September 30, 2009
Monday, September 21, 2009
How To Purchase A Home For The First Time In Canada
by: James Tworek
Over the weekend I caught up with some good friends that are currently renting and thinking about taking the plunge to purchase a new home. As first-time homebuyers, they had the foresight to request a mortgage preapproval. This quick process provided them with the peace of mind that they were seeking: they now know what price range of home they hunt for based on their current income, the downpayment funds that they had saved up and their monthly budgeting.
Great! “Now what? We don't know where to go next!”
Wow. I’ve been working in the financial services for 10 years and have purchased real estate in the past – it seems second-nature from my perspective. In thinking about it, it dawned on me: From the outside, purchasing a home seems so simple… at first blush it’s as simple as do a few walkthroughs of some properties, negotiate an offer on the home that you can’t live without, go to your lawyer and sign off, get your keys and move in, right? Well, sort of. This really IS the process – with a whole LOT of smaller steps and things to think about in between! When boiled down to the nitty-gritty, there are at least ten major steps and a heck of a lot of planning that has to take place between the house-hunting phase and moving in.
In today’s post, I’ll start to help walk first-timers and pros alike through first two of the 10 main steps towards purchasing a new home. Although my friends had already completed today's steps before and part of the preapproval process, we'll still review them here:
Step one: Are you at the stage of your life where buying a home for the first time makes sense?
Let’s analyze where you sit in your life cycle – are you stationary in the same place for the foreseeable future? Will your career or lifestyle move you about? Have you recently changed jobs or been laid off from your current employer? Are you single but soon to be married? How far away is retirement? Can your monthly budget of income vs. expenses afford the monthly and annual costs of owning a home? When you compare the monthly costs of owning a home versus renting, which “makes more sense” to you at this point in time? There are plenty of questions that need to be digested before taking the leap into home ownership – the answers are different for everyone and change over time!
Step Two: Are you financially ready to purchase a home?
When we compare current income rates (and savings rates) against current property values in Canada, it is quite common for homebuyers to require financing to complete the first-time homebuyer transaction. This is most commonly in the form of a mortgage from a financial institution.
Three of the main cornerstones of a mortgage application involve analyzing your unique personal financial “big picture” are your credit score, your employment and income, and finally, your down payment funds. These main factors help lenders assess your stability and personal ‘risk quotient’ in the sense that you are vouching your overall stability and likelihood of repaying the mortgage loan to the lender in order to obtain the loan.
Read more....
Source
Comments:
First time home buying in Canada is indeed a privilege and an exciting experience for first time home buyers.
Compared to the home buying in the countries where we came from,it is indeed a contrast.
Over the weekend I caught up with some good friends that are currently renting and thinking about taking the plunge to purchase a new home. As first-time homebuyers, they had the foresight to request a mortgage preapproval. This quick process provided them with the peace of mind that they were seeking: they now know what price range of home they hunt for based on their current income, the downpayment funds that they had saved up and their monthly budgeting.
Great! “Now what? We don't know where to go next!”
Wow. I’ve been working in the financial services for 10 years and have purchased real estate in the past – it seems second-nature from my perspective. In thinking about it, it dawned on me: From the outside, purchasing a home seems so simple… at first blush it’s as simple as do a few walkthroughs of some properties, negotiate an offer on the home that you can’t live without, go to your lawyer and sign off, get your keys and move in, right? Well, sort of. This really IS the process – with a whole LOT of smaller steps and things to think about in between! When boiled down to the nitty-gritty, there are at least ten major steps and a heck of a lot of planning that has to take place between the house-hunting phase and moving in.
In today’s post, I’ll start to help walk first-timers and pros alike through first two of the 10 main steps towards purchasing a new home. Although my friends had already completed today's steps before and part of the preapproval process, we'll still review them here:
Step one: Are you at the stage of your life where buying a home for the first time makes sense?
Let’s analyze where you sit in your life cycle – are you stationary in the same place for the foreseeable future? Will your career or lifestyle move you about? Have you recently changed jobs or been laid off from your current employer? Are you single but soon to be married? How far away is retirement? Can your monthly budget of income vs. expenses afford the monthly and annual costs of owning a home? When you compare the monthly costs of owning a home versus renting, which “makes more sense” to you at this point in time? There are plenty of questions that need to be digested before taking the leap into home ownership – the answers are different for everyone and change over time!
Step Two: Are you financially ready to purchase a home?
When we compare current income rates (and savings rates) against current property values in Canada, it is quite common for homebuyers to require financing to complete the first-time homebuyer transaction. This is most commonly in the form of a mortgage from a financial institution.
Three of the main cornerstones of a mortgage application involve analyzing your unique personal financial “big picture” are your credit score, your employment and income, and finally, your down payment funds. These main factors help lenders assess your stability and personal ‘risk quotient’ in the sense that you are vouching your overall stability and likelihood of repaying the mortgage loan to the lender in order to obtain the loan.
Read more....
Source
Comments:
First time home buying in Canada is indeed a privilege and an exciting experience for first time home buyers.
Compared to the home buying in the countries where we came from,it is indeed a contrast.
Thursday, September 17, 2009
Hello and Welcome
Hi there First time home buyers.Home buying should be fun and no stress!
We will update you on the latest trends,developments and news in your first time home buying here in our very own Canada.
We will update you on the latest trends,developments and news in your first time home buying here in our very own Canada.
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