The down payment required on a new construction home is a minimum of 20% of the purchase price, including the cost of the upgrades. The down payment on a new build can be paid in installments, over a set period of time. While there are… Read More »How Much Down Payment On a New Construction Home?
Most plumbers recommend water heaters to be connected in parallel because it delivers higher water output, prolongs the life of each water heater, and eliminates undue stress on a single water heater. It has been an age-old question for many homeowners building a new home.… Read More »Should Hot Water Heaters Be in Series or Parallel?
You can install solar panels on a new construction home cost-effectively because you can incorporate the installation with the building process, saving you time and labor costs. There are many home builders who are starting to incorporate solar panels in their new builds, bringing energy-efficient… Read More »New Construction Home with Solar Panels
Builders leave the lights on in new construction homes overnight because it helps to see if unwanted intruders are in the home. It offers security and safety for the new build, and anyone working on-site at night. A new construction home builder invests a lot… Read More »Why Do Builders Leave Lights On
After clearing your debt, you will need to wait until your credit report is updated to get a mortgage. Every lender reports to the credit bureau at different times, but the general timeline is 30 to 60 days. If you are under a tight timeline,… Read More »How Long After Clearing Debt Can I Get a Mortgage
The 2024 real estate market has slowed down considerably, as rates have plateaued in the last few months. While interest rates remain high, we’ve seen a slowdown in the number of home sales, and people moving away from the big cities. Many investors are looking… Read More »Best Places to Invest in Real Estate in Canada 2024
A standing order in banking is authorization provided by the account holder to the financial institution to make a one-time or recurring payment. It is also referred to as standing instructions. Most banks and credit unions will allow their customers to set up a standing… Read More »What is a Standing Order in Banking?
If a new construction home appraisal comes in lower than the purchase price, the lender will require the borrower to increase the downpayment to cover the difference and lower the qualifying mortgage amount. When you are purchasing a new build home from a builder, it’s… Read More »New Construction Home Appraisal Less than Purchase Price
If you’re buying a new construction home; this list of electrical upgrades for a new build home will help you decide what to upgrade and what not to. A new build home can have hundreds of features to upgrade, which can make the process a… Read More »Electrical Upgrades for New Construction Home (with Price List)
The Canadian equivalent of an FHA loan in Canada is a mortgage insured by the CMHC (Canada Mortgage and Housing Corporation). The FHA loan is a mortgage offered by lenders in USA, which is backed by the Federal Housing Administration. A mortgage is a type… Read More »A Complete Guide to FHA Loans in Canada
Homebuilders use special perfumes with floral, rose, jasmine, or cherry blossom scents to make their model homes smell good. These scents have various properties that affect our emotions, hormones, happiness, positivity, and mood. If you’re like me, you’ve been inside model homes and wondered –… Read More »How Do Model Homes Smell So Good?