Capital Mortgages opened in January 1999 and has since serviced thousands of clients and arranged several billion dollars in mortgages in Ottawa area.

Living In The City, Suburbs Or Countryside – Which Is Best For You?

As the time comes around for you to buy your first (or subsequent!) property, you’re likely looking at a few factors such as what kind of home you can afford, where you’d like to live and what the pros and cons are of the area you’ve considered. We meet so many city slickers who swear they would never consider moving to the suburbs, only to change their minds once they realize how much more space they’d get for their money and how nice it is to entertain friends in their backyards in the summertime.

Here are a few of the pros and cons when it comes to living in the city, suburbs or countryside.

Living in the city

Pros:

  • You can easily get by without owning a car and can opt for car sharing services when necessary
  • Likelihood of a quicker commute to work 
  • Excellent public transit
  • Lots of cultural attractions
  • Easy proximity to bars and restaurants
  • Consistent demand for city-based real estate means that you’ll build equity in your property

 

Cons:

  • You’ll get less space for the same price in comparison to suburban or rural areas
  • You might only be able to afford a condo instead of a full home
  • Nearly everything will be more expensive, from childcare to groceries
  • Higher property taxes
  • Less privacy and possible noise issues due to population density

 

Living in the suburbs

Pros:

  • More outdoor space (yards and gardens)
  • Higher proportion of households with children (if you have a similar lifestyle)
  • Good schools
  • More privacy yet still populated
  • Most amenities within a convenient driving distance
  • Lower housing costs and more space for your real estate dollar

 

Cons:

  • Longer commute to get into the city (if you work there)
  • Low walkability score
  • Will most likely need to own a car
  • Fewer arts and cultural attractions, entertainment options and dining venues

 

Living in the countryside

Pros:

  • Even lower housing costs and more space than the suburbs
  • Access to nature such as lakes, forests, walking paths and more
  • High air quality
  • Plenty of privacy

 

Cons:

  • Susceptibility to extreme weather (power outages, being snowed in)
  • Increased chances of a long commute to work, errands, entertainment and medical care
  • Less opportunities to socialize
  • Little to no public transport

 

Are you planning to buy a property soon and having trouble deciding which type of living suits you best? One of our mortgage brokers would be happy to discuss further with you and guide you towards the right choice. Call Capital Mortgages at 613-228-3888 today.

Pre-Qualified, Pre-Approved Mortages Ottawa, Ontario

Learn How To Recession-Proof Your Budget: Top Tips For Surviving The Storm

Most Canadians, particularly Albertans have been both surprised and overwhelmed by the recent and sudden decline in oil prices. In reality, however, all that goes up will invariably come back down. Thus while it is important to enjoy the high points of a boom and bust economy, it is also important to prepare for the low times. Following are a few tips that will help you learn how to recession-proof your budget.

 

Start by making small changes. While creating a budget that is recession-proof might feel like a very daunting task, it is actually best to start with small changes in

areas that are very easy to manage. For instance, you can challenge yourself to spend less money on unnecessary expenses such a specialty coffees or you could do something major like sell a second vehicle. You’ll be able to carpool or use public transportation instead.

 

Create a emergency fund. This will give you some extra money to fall back on should a financial slowdown ever occur. Instead of seeking high investment returns, take advantage of a high-yield investment account so that your funds are constantly available if you need them. You should also use cash as much as possible. This will limit your reliance on credit cards and all of the related fees.

 

Start recycling, reducing and reusing as much as you possibly can. This will reduce the need to buy new items and it will also have a positive impact on the natural environment. Now is also a good time to get a good handle on all debt payments. When the economy is poor, debt tends to cause the most trouble. In the best case scenario, you will pay off the majority of existing debt when the economy is good.

 

Any high-interest debt that you have not paid off during a boom time should be converted to low-interest debt. You might face penalties for breaking loan contracts ahead of schedule, but this is usually worth the associated penalties if lower interest rates can be gained. Evaluating any current investments is also a great way to improve a personal budget. This gives people the chance to properly allocate their funds.

 

Track all income and expenses. After having done this for a few months, you will see which aspects of your budget are spot-on and which need adjusting. Make monthly updates of all debt totals and make sure that assets are properly laid out with a net worth statement that is accurate and up to date. Finally, consider talking with a professional like a Capital Mortgage Broker in order to learn additional strategies for making optimal use of all available funds.

 

Staging Tips to Sell a Home Fast

Top 10 Staging Tips to Sell a Home Fast

In several city centers throughout North America, housing prices are on the rise and continue to climb. If you have a home that you’re considering selling, now would be an excellent time to do so.

If you want to get top-dollar for your home then you need to make it eye-catching, pleasant, and visually appealing. You only get one chance to make a great first impression, so you want the home to appear attractive and appealing from the moment a prospective client first sets eyes on the property to the moment they leave.

In most situations, a client already has a home judged before they even take a step inside. Following is a list of effective home staging tips you used to increase the value of your home and help you get the price you’re asking or more.

1. Exterior Presentation:

Make the front yard presentable by keeping the lawn well-manicured with clean, defined edging. You can also add color by adding flowers leading to the front door. The first impression by a potential home buyer will be made from the condition of the exterior of your home.

2. Paint:

If the interior or exterior of your home hasn’t been painted in years, the cost of a paint job will significantly add to its value and help it sell quickly.

3. Interior Considerations:

A potential purchaser needs to visualize each room as their own, so remove as many of your personal items as possible. If a potential client sees family photos, loads of furniture, and personal items everywhere they will be much less likely to make the purchase.

4. Pets:

Although we all love our pets, if you want to sell your home then they shouldn’t be on the premises during showings. Be sure the entire house has a fresh, clean scent as well.

5. Lighting:

Recessed lighting, chandeliers, and ceiling fans can be purchased at very reasonable prices from large retailers and online stores, it could increase the selling point of your home to replace or change the lighting in certain areas of the home such as the kitchen, bath, or living room.

6. Kitchen:

The kitchen is the hottest selling point for most homes and should be in top condition. Spending some money on new cabinets, counter tops, lighting, flooring, and new stainless steel appliances will help the home move quickly on the market. However, be careful because you don’t want to spend more than you’ll get back when you sell the property.

Bathroom:

A comfortable bathroom is a great selling point for any home; lighting, fixtures, and flooring should be in top condition.

7. Furniture:

Remove oversized sofas and minimize the furniture in the home. Too many furnishing can make rooms feel smaller than they really are. Instead, use small groupings that offer plenty of space around them.

8. Carpet:

Replace worn and faded carpet; the money you spend on new carpet will be recovered when you sell the home, and it will help the house sell fast.

9. Clutter:

The entire home should be free of clutter; the client wants to picture themselves in the home, not others.

10. Overall Appearance:

Check the overall appearance of your home with a critical eye, replace screens and lights where necessary and view the property as if you were making the purchase.

These suggestions will help you get the price you’re asking in only a short period of time.