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Selling Your Home in the Winter

February 19, 2021 By Administrator

While you might think selling your home in winter is harder, with the right considerations it doesn’t have to be! When selling your home during warmer months, the focus is typically on curb appeal and gardening, as well as having bright colours and patterns to draw out different rooms. While curb appeal should not be forgotten in winter months, the focus should be centred on creating a warm, comfortable and welcoming space. Below are some tips on how to do this:

Curb Appeal

If you live in an area that receives high amounts of snow, be diligent about keeping your sidewalk and driveways clear for visitors, and keep your home looking clean for viewing. Always make sure to sweep any fallen leaves or debris.

Keep it Cozy

Ensuring your home is sufficiently heated during showings will also go a long way to making it feel more comfortable; a steady 68 to 70 degrees Fahrenheit during showings is ideal.
Light and Inviting: With days being shorter and darker during winter, ensuring your home is well-lit and inviting can make a big difference. In some cases, you may consider repainting the walls before listing your property.

Declutter

When selling, it is important to declutter your home so that it looks its best and gives room for people to imagine their own belongings in your space.

Define Property Boundaries

If you are showing your home in the middle of snow season, be sure to mark the four corners of your property so that potential buyers can see exactly what they are getting.

While there is some extra work with selling your home in the winter due to the weather conditions, it can pay off! Buyers tend to be highly motivated and often there is less competition for sales during this time giving more focus to your home.

 


 

Family Day Activities to do During a Pandemic

Family Day was first introduced in Alberta in 1990 and has since grown into a beloved holiday occurring on the third Monday in February. While Family Day might look a little different this year, it is rooted in the value of family and fortunately, there are many ways to spend time with our loved ones and celebrate our family units. Below are a few ideas of some activities you can do with your family this year:

 

Build a Blanket Fort

With the winter chill not quite lifted yet, building a blanket fort is a great way to spend the day with your family and watch movies, share laughs and enjoy some yummy snacks!

Cook a Meal Together: From making mini personalized pizzas to cooking up a brand-new recipe or baking something delicious, the kitchen is a great space for family time and making fun memories!

Try an Online Exercise Class

Want to enjoy your family and get a little exercise while you’re at it? Try an online workout class! Not only is this a fun activity you can do with your kids from home, but it is a great way to teach them about health and start setting up healthy habits for life.

Do a Virtual Tour: A number of museums worldwide are offering free virtual tours! So even if you can’t travel somewhere, you can still enjoy new cultural experiences as a family.

ZOOM with the Family

While you might not be able to have the entire family together, in person, we live in a digital world, which allows us to access the people we love at all times – no matter how far away they are! Call up your parents or grandparents, do an activity over the computer, have a storytime session, or simply take a moment to ‘check-in’.

No matter how you spend it, I hope you have a wonderful Family Day this year and a chance to celebrate your loved ones!

 


 

Benefits of a Mortgage Broker

In a world with an abundance of options, it can be hard to know which way to turn to ensure that you make the best decision for your future. Fortunately, that’s where we come in. As your dedicated mortgage professional, We have access to 90+ lending institutions and a vast array of available mortgage products.

Whether you are a first-time homebuyer, up for renewal, looking to refinance or want to discuss reverse mortgages or other options, we can help. As a one-stop-shop for your mortgage needs, we can not only save you time by shopping the market for you but often we can save you money too. When it comes to mortgages, not all products are created equal. Fortunately, our access allows us to review all of your options and find you the best mortgage product terms and rates.

Unlike a bank specialist, we are not tied to any single lender. This allows us to focus on helping YOU achieve your dream and provide you with unbiased advice and work with you to make the best decisions for your family, and your future.

Whether you are looking for mortgage assistance now, or in the future, we would be happy to help answer any questions you have and shop the market to find you the best solution. Please don’t hesitate to reach out to our brokerage anytime, or pass my information along to any friends or family you think would benefit from professional advice.

 

Time to Check-In with your Mortgage!

January 7, 2021 By Administrator

As we ease into 2021, we have some great tips to help get you started and refresh your space. From the Pantone of the Year for 2021 to annual mortgage check-up tips and home maintenance strategies, we have you covered!

Thank you for your continued support and introductions!

I hope you have a wonderful year.

 


 

Pantone of the Year 2021Time to Check-In with your Mortgage

The Pantone Color Institute has published their 2021 Pantone trends, which features 10 standout colors as well as 5 core classics to help bring some extra spark to fashion and home this New Year.

This year’s Pantone offers a range of shades that combine a “level of comfort and relaxation with sparks of energy that encourage and uplift our moods” according to Leatrice Eiseman, Executive Director of the Pantone Color Institute. This year’s choices are not only bold and illustrative, but also combine our desire for flexibility and color choice that lasts year-round.

 

What’s the Inspiring Pallette this year?

On the 2021 Pantone we have an inspiring palette composed of marigold, cerulean, rust, illuminating yellow, French blue, mint, amethyst, burnt coral and vivid raspberry! Paired with these are the core hues of inkwell, gray, buttercream, desert mist and willow beige.

To utilize this year’s incredible colors, without wasting your time or money, try sprinkling them throughout your home as accents to brighten and uplift your space. Consider throw-pillows and rugs or other accent pieces such as swapping out your curtains, lampshades or even a quick reupholster on worn chairs to help liven up your space in time for the new year!

From comforting oranges and friendly yellows, to calming and restoring greens and blues, the 2021 Pantone palette is sure to infuse your year with reawakened senses and a fresh perspective!

Looking for more inspiration? Check out the Dominion Lending Centres Pinterest page.

 


 

Time to Check-In with your MortgageTime to Check-In with your Mortgage!

There has never been a better time for your annual mortgage health check-up! By organizing a quick mortgage review each year, it may yield you some fruitful financial savings.

Your home loan review this year will examine the most common potential monthly savings opportunities, including high-interest credit card debt or fixed loan payments. Reviewing your mortgage terms and options annually could result in having more money left over at the end of each month – and who doesn’t want that?!

For instance, are you exercising your penalty-free extra payment privileges? Do you have any? Prepayment privileges allow you the opportunity to pay up to 20% extra per month and a total of up to 20% lump sum per year – without penalty! This means that for a $300,000 mortgage on a 25-year amortization, a 20% monthly payment increase can generate $18,000 worth of savings AND help you to pay off your mortgage 5 years earlier! When you add-on the annual lump sum of $2,500, the savings are increased to just over $25,000 for the year and bumps you up to being mortgage-free 8 years earlier! You can also use the My Mortgage Toolbox app to calculate the potential savings from extra payment.

 

Increasing your Monthly Payments

When it comes to mortgage payments, another great question for your annual check-up is whether or not you are on the best payment frequency for your cash flow and to best optimize savings! Most lenders offer various payment frequencies and an annual mortgage review can help identify the best frequency based on changing needs and cash flow situations. A monthly payment is simply a single large payment, paid once per month; this is the default that sets your amortization.

A 25-year mortgage paid monthly will take 25 years to pay off but includes the added burden of one larger payment coming from one employment pay period. Alternatively, an accelerated bi-weekly payment pays your mortgage every two weeks. This frequency allows the mortgage payment to be split up into smaller payments vs a single, larger payment per month. This is especially ideal for households who get paid every two weeks as the reduction in cash flow is more on track with incoming income. 

These accelerated bi-weekly payments also offer interest savings, as you are actually making an extra payment each calendar year. For instance, a $300,000 mortgage on an accelerated bi-weekly payment schedule will pay off your mortgage two and a half years faster and generate approx. $8,000 in savings!

That’s like getting a $10,000 a year raise just by changing your payment frequency! You can use the My Mortgage Toolbox app to also calculate these payment differences. 

 

Breaking your Mortgage Early


Another area to look at during your mortgage check-up are your penalties. Breaking your mortgage term early, and before the scheduled contract maturity date, will almost always incur a penalty. The amount depends on various factors such as how far you are into the existing term, your current interest and rate type, your existing lender, etc. However, with today’s rates sitting at such a historical low, there can still be savings! Now, if you break your mortgage early and incur a penalty, you can still come out ahead. For instance, it is possible to save $20,000 with a new low rate and incur a $15,000 penalty, which still puts you $5,000 ahead! Having an annual mortgage review can look at these options and determine if it is a benefit for you to chase these historically low rates.

Beyond your current payments and interest rate, consumer debt outside of the mortgage is another important area for review. Did you know? The average Canadian has $30,000 of credit card debt, at approximately 20% interest?! Reviewing your home equity situation could yield $10,000 savings, per year, by rolling debts into your home equity loan. Contact me today to discuss this further and see if it is an option for you!

 

Debt Consolidation



Pay more to save more, pursue lower rates even with a penalty, and debt consolidation are just three examples of the financial savings an annual mortgage check-up with your mortgage professional can do! With interest rates at historic lows, now is the time to investigate all your options and perhaps save yourself thousands of dollars per year, especially if your current interest rate is over 3%! Imagine what you could do with the savings – anything from renovating or investing to going on a much-needed vacation or putting money towards your children’s education.  

Completing a straightforward annual review will keep your home financing as lean and trim as possible. In other words, you will have a clean bill of mortgage health, which is just what the doctor ordered! Contact me to set up a mortgage check-up today!

 


 

New Year Home Maintenance PlanTime to Check-In with your Mortgage

Keep your home in comfy, cozy and working order all year long with this easy maintenance schedule highlighting important areas to check – and when!

 

January
Safety check! Start your year off on the right foot by ensuring your home is in proper working order. Test your smoke and carbon monoxide detectors and replace batteries as necessary. 

February
The colder months are a great time to tackle indoor maintenance. Take the time to inspect your shower, tub and toilet for any leaks and recalk as needed to save you on costly repairs later in the year.

March
Inspect your windows and doors for cracks as any gaps will cause heat (and air conditioning!) to escape from your home. Add weather stripping as needed to ensure they are sealed.

April
As we get closer to spring, this is a great time to focus on the exterior of your home. A power-wash and deep clean of your siding and windows will help your home look its best.

May
With summer just around the corner, this is a good time to check your A/C unit and ensure it is up to the challenge. Contact a professional HVAC company to service your unit and ensure it is up to optimal efficiency and output.

June
As we move outside in the warmer months, this is the perfect opportunity to spruce up your deck and outdoor space. Pressure washing and resealing your deck will help keep it functional and gorgeous, all year long!

July
Insects run wild in the warmer weather. To prevent damage, it is a good idea to consider a pest control plan especially if you live in a highly active area.

August
As the end of the summer approaches and we get closer to the rainy season, you will want to ensure your roof is in good working order. Check the areas around your eaves and gutters for any water damage and ensure there are no leaks or loose shingles that could cause issues down the road. 

September
To create that warm and cozy fall atmosphere, you will want to ensure your fireplace is doing its job. This is the perfect time for a thorough inspection of your fireplace – whether wood or gas – to ensure everything is working well.

October
With the gorgeous colors of fall in full swing, October is a great month to touch up the exterior of your home’s paint and boost your curb appeal. While you’re at it, make sure to check your foundations for any damage that could worsen in the colder months.

November
As the leaves start to fall, it could spell a mess for your home. In November, focus on leaf and gutter cleanup. Regularly rake your yard to keep your grass green and collect any debris that may have collected in your gutters or your roof from high winds.

December
You made it! Another year of home maintenance is almost done as we move into December. Get yourself snow ready by prepping your pipes and considering added insulation to keep them from freezing.

 

Determining Your Credit Score

December 24, 2020 By Administrator

Determining your credit score leaves people confused. What is it? What does it include? How is it calculated? These are all great questions that I will answer for you!

Having a great credit score can save you thousands of dollars, if you know how to manage it. There are two main agencies in Canada that report credit scores: Equifax and TransUnion. Both of these agencies collect information on a daily basis from millions of people through consumer credit agencies. This including phone companies, mortgage lenders, banks, credit card companies, and independent lenders.

Here is how the your credit score is calculated

Both of the credit bureau agencies analyze all the data they receive and use it to determine each individual’s credit score. To get a well-rounded credit score, it is most beneficial to have two active trade lines in addition to a mortgage and cell phone plan.

35% Payment History

Payment history portion looks at your payment deadlines and if you pay on time every month. The score from this section remains positive as long as you maintain set payments on fixed loans and always make at least the minimum payment on credit cards. This information is kept on file for 7 years from the date of last activity.

30% Utilization

Utilization is the amount you use on your available lines of credit and credit cards. Ideally, you do not surpass the 50% point on any of them and do not need to apply for high credit limits, both being red flags for financial trouble.

15% Length of Credit History

For all financial lenders, a clear history for at least two years is the most favourable situation to show your security. This proves to the lender that you are a low-risk applicant.

10% Credit Mix

The credit mix looks at your current loans and credit cards you use. Ideally, having at least one credit card with a $2500 limit and a fixed loan (i.e. house or vehicle) allows the lender to see your level of responsibility on different credit sources to base your score on.

10% Number of Inquires

This can be an area of concern if you frequently inquire about credit opportunities. If you apply for multiple credit cards, an overdraft on a bank account, and/or a line of credit it can be a red flag that you are experiencing difficulties. Maybe you are just looking for a new method of credit do not worry as your score will only take a minor, temporary hit. However, you are constantly inquiring about credit options then your credit score will take a dive.

To learn about the status of your credit score you can write to either Equifax or TransUnion for a free copy at any time. Writing to them will take a few weeks, so if you are strapped for time you can check out a website that will charge you a fee to see your credit report immediately. If you have any questions about credit scores contact us at Dominion Lending Centres and we can guide you through it!

Still feeling confused, we understand, determining your credit score can be tough to grasp. So give us a call and we can go over your situation in more detail.

December Newsletter 2020

December 15, 2020 By Administrator

Welcome to the December issue of my monthly newsletter!

As we near the end of the year, you are probably thinking about your plans for 2021. Scroll down for some great resolutions for your home, and tips on how to make your finances work for YOU in the New Year. Plus, I have included some great holiday party tips to make yours a roaring success!

Thanks again for your continued support and introductions!

 


 

Making Your Finances Work For YOU in 2021

After the whirlwind year of 2020, making your finances work for you is already top of mind for Canadians. Why not roll that into a brand-new resolution moving forward into 2021? Here are some ideas to make your finances work for YOU in the New Year:

 

Start a Budget

If you don’t have a monthly budget already, this is the first step in financial awareness. Knowing how much you make per month – and what you spend it on – can help you better manage (and even eliminate) your expenses and free up funds for things that matter.

Purge Expenses

One of the best goals you can have for the New Year, is cutting out all those things that didn’t work the previous year – this can include expenses. While we are not referring to your water or electricity bills, there are still many ways you can cut down on costs. For instance, have you recently looked at your phone plan? Consider decreasing services or comparing costs to get a cheaper plan with the same functionality. Are you someone that buys coffee each morning or goes out for lunch once a week? Consider where and how you spend your money to determine areas to reduce costs!

Make a List of Goals

Once you have made your budget and reviewed your existing expenses for any opportunities to reduce costs, the next step is to make a list of goals! For some people this will include paying off that credit card or loan, but for others it could be saving up for a family holiday you want to take in the next 5 years. Whatever your goals are, be clear about them!

Consolidate Your Debt

Are you dealing with multiple debt sources? From a car loan to a credit card bill, having multiple payments each month can add up and quickly become more than you can manage. If you are struggling with lofty bills and hefty interest rates on your credit cards or other bills, consider consolidating your debt into your mortgage for a single, monthly payment – typically at a lower interest rate!

Pay Fast, Buy Slow

Some great advice when it comes to managing your finances is to pay fast and buy slow! If you pay your bills as soon as they come in, versus waiting, you will have a better idea of where you stand financially at any given moment. You will also avoid any late fees or compounding charges. In coordination with this, you will also want to start buying slower and working to reduce any impulse spending.

(Optional) Increase Your Income

While it may not seem possible, it can’t hurt to look for ways to increase your income in the New Year. Look for promotion opportunities at work, discuss a potential raise or even consider a new job to ensure that you are financially covered!

 


 

New Year Resolutions for Your Home

Your finances aren’t the only thing that has room for new resolutions in 2021! Consider these great ideas to make your home feel brand new come January:

 

Purge Your Space

While most people think about purging when Spring comes around, the end of the year really is no better time. While cleaning your home is common around the holidays, purging takes that a step further. Make it part of your New Year’s resolution to purge your home of all the things you don’t need. It may seem daunting at first, but most of the decisions are already made. Look around your home and really catalogue those items you didn’t use in 2020 (or 2019!) and make it your resolution to finally get rid of them. Go room-by-room to ensure the purging remains manageable and you get the most out of the process!

Donate What You Can

Following up on purging your home, this is a great time to donate old items. While purging, make two piles – one for garbage and one for items to donate. During this time of year, those in need can use your help the most! So, while you’re purging, reconsider tossing out old items and instead donate them to someone who would benefit.

Make Sure You Are Safe & Sound

A clean house is only half the battle – you also need a safe one! While your home is going to look fresh and organized after you’ve finished  purging old items from the year, now you will want to put some effort into ensuring safety. Check fire detectors and fireplaces, as well as investigate radon and carbon monoxide also (the hardware for these tests are not particularly expensive). This is a good time to check ventilation as well!

Shrink Your Bills (and Your Carbon Footprint)

Some people think the only way to “go green” these days is buying a hybrid car – but your home is a great place to cut energy too! Everything from switching off the lights when you leave a room, to dialing down your air conditioner and heating, to installing LED bulbs and energy-saving showerheads or toilets, can help you save in the long run and ensure your home is more energy efficient for the New Year!

Plan Out Home Improvement Projects

Heading into the New Year is a super fun time to plan out future home improvement projects! They don’t even have to be on the docket for 2021, but this is a great time to re-evaluate your home for any changes or additions you want to make in the coming years – and to start saving for them now.

 


 

Holiday Party Tips!

With the holidays closing in, a lot of us are thinking about hosting holiday parties. While things will look a little different this year, that doesn’t mean you can’t have fun! Whether you’re just celebrating with your household, or hosting a virtual gathering, preparation and ambience are everything.

Here are some tips to create that special holiday feeling:

 

Make a List

While you might not be hosting for 50 people this year, that doesn’t mean that preparations go out the window! The mark of a good holiday celebration is planning, planning, planning! Ideally, you will want to make a list of everything you need before you get started. From food to drinks to decor, having an idea of what you need in advance will make it much easier to get everything in one go. 

Send Out Invitations

If you are hosting a virtual gathering, make sure to send out invitations as soon as possible. This can be a simple e-mail to friends or family with a link to join in or a fun e-card! 

Prep Food in Advance

When it comes to food, simple is best and whatever you can prep in advance is better. With a smaller invitee list, you can easily get away with simple finger foods. From shrimp or tuna rolls to spinach dip and bread to veggie trays or cheese and crackers, the options are endless and don’t have to require hours of prep time. 

Sweet and Simple Decor

 When it comes to the holidays, there are endless options for decor. From traditional red and green to silver and gold or silver and blue, the best choice is one that fits your tastes. Even if you cannot host your entire neighbourhood, that doesn’t mean you can’t enjoy that holiday feeling! A few key pieces here and there, such as a large wreath and centerpiece for the table can go a long way. 

Manage the Mood

To help create a cozy, holiday mood you might consider turning off your overheads and using candles to give off a warm glow and cozy scent. Music is another important factor; try mixing traditional holiday tunes with modern favourites to create the perfect feel, without back-to-back tracks of “Rudolph the Red-Nosed Reindeer” and “Feliz Navidad”.

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