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        <title>Blog</title>
        <link>https://paullamba.maxwellrealty.ca/blog/</link>
        <description></description>
<item>
    <guid>https://paullamba.maxwellrealty.ca/blog/welcome-to-the-family-september-2024/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/welcome-to-the-family-september-2024/</link>
        <author>websupport@maxwellrealty.ca (MaxWell Realty Admin)</author>
        <title>Welcome to The Family September 2024</title>
    <description> <![CDATA[ 

 ]]> </description>
    <pubDate>Thu, 26 Sep 2024 12:52:00 -0600</pubDate>
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<item>
    <guid>https://paullamba.maxwellrealty.ca/blog/the-orchard-in-invermere/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/the-orchard-in-invermere/</link>
        <author>chrisraven09@gmail.com (Chris Raven)</author>
        <title>The Orchard In Invermere</title>
    <description> <![CDATA[ 



Welcome To The Orchard in Invermere, BC


The Orchard is a 15 home development with luxury adaptable, sustainable living at its core. By design, The Orchard seeks to provide solutions in living that can accommodate a diversity of ability.



Location, Location, Location





Invermere, BC


The Orchard is a beautiful 1.5 acres on 13th Avenue (aka Westside Road) Invermere A short walk to all schools, close to playing fields, tennis courts, and to the Skate Park. Hiking and bikingtrails are nearby and the downtown core with shops and restaurants, is a pleasant 15 minute walk away.





Energy Efficiency


The Orchard Homes are designed to meet the anticipated changing building codes for energy efficiency and accessibility. Many units are age-in-place friendly and all are Net Zero ready with solar options planned.















The Orchard will feature modern low maintenance xeriscaping, with inviting rear patio and fenced private yard. Low maintenance exterior combined with Xeriscape lots are great for busy lifestyles as well as aging in place.


















The Orchard development will accommodate single-family homes and semi detached homes. The duplexes adjoin at the oversized garages with a party wall, have fully developed individual front and back yard spaces, and room for a large vehicle in the driveway.








For more information and to book a tour please contact Paul Glassford


Phone: 250 341 1395 


E-Mail: paulglassford@gmail.com 
 ]]> </description>
    <pubDate>Thu, 26 Sep 2024 12:33:00 -0600</pubDate>
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<item>
    <guid>https://paullamba.maxwellrealty.ca/blog/give-your-kitchen-cabinets-a-facelift-in-6-easy-steps/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/give-your-kitchen-cabinets-a-facelift-in-6-easy-steps/</link>
        <author>info@peshketeam.com (Billy Peshke)</author>
        <title>Give Your Kitchen Cabinets A Facelift In 6 Easy Steps</title>
    <description> <![CDATA[ 
New kitchen or fresh paint? With some simple preparation, a little paint and a free weekend, you can transform the look and feel of your kitchen in just a couple of days. Here’s a step-by-step guide to get you started.Prep the areaEmpty your cabinets and remove the doors by unscrewing the hinges and pulling the doors away from the units. Wipe the surfaces clean with a damp cloth.Clean and sandIf your cabinets have a glossy finish, you’ll need to sand that away before you start painting. Take a sanding sponge or high-grit sandpaper (100- to 150-grit), and sand until you have a matte finish. Once you’ve sanded, wipe the dust away with a damp cloth and allow the cabinets to completely dry.Pick the right paintAn on-trend gloss or semi-gloss paint is recommended for cabinets because it provides a harder, and therefore more durable, finish. If you choose latex paint, make sure it’s completely acrylic. Oil-free paints called alkyds are great for durability as well. When choosing your colours, you can’t go wrong picking from a designer-endorsed palette like Behr’s colours of the year, which is only available at The Home Depot.Prime the cabinetsIf you’re going lighter than the current colour or your cabinets are new, you will need to prime them. Apply your primer by painting the edges with a brush first, then rolling the middle for the fastest coverage. Allow them to dry completely.Paint doors and drawersOnce your frames are painted, you can let them dry and move on to the doors. Put boards on the ground and then lay your cabinet doors flat on top of them. This keeps them off the ground while painting. Start painting from the middle of the door and work your way out towards the edges. Let them dry completely. If you want a more vibrant colour, consider adding a second coat. Don’t be worried if there are brush marks, they’ll even out as the paint dries.ReassembleOnce your paint is dry, reassemble your cabinets by putting the hardware back on the doors if you removed it and then reattaching the doors to the cabinets. Once everything is assembled, you can stand back and take in your brand-new kitchen look.Find more weekend do-it-yourself projects at homedepot.ca.
 ]]> </description>
    <pubDate>Thu, 26 Sep 2024 12:19:00 -0600</pubDate>
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    <guid>https://paullamba.maxwellrealty.ca/blog/seasonal-recipes/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/seasonal-recipes/</link>
        <author>Paul@PaulLamba.com (Paul Lamba)</author>
        <title>Seasonal Recipes to Celebrate Autumn </title>
    <description> <![CDATA[ 
Hello, autumn lovers and kitchen adventurers


As the leaves start to turn that brilliant shade of “I’m definitely not going to rake this,” and the air becomes crisp enough to see your breath, it's time to welcome the fall season with open arms and an appetite for some seriously fun cooking ????


So, grab your coziest sweater, and let’s dive into some delightfully silly seasonal recipes that are perfect for this time of year. From pumpkin-spiced everything to dishes that might make you question if you’ve gone a little bit nutty (spoiler alert: you have), let’s embrace the whimsical side of autumn





1. Pumpkin Spice Pancake Puffs


Ever wished you could turn your breakfast into a carnival treat? These fluffy pancake puffs are like if your favorite autumn pumpkin spice latte decided to join the circus. Imagine little pumpkin-flavored cloud bites that are just as fun to eat as they are to make.


Ingredients:




1 cup pancake mix


1 cup canned pumpkin


1 tsp pumpkin spice (or more, if you’re feeling extra)


1/2 cup milk


A dash of whimsy (aka a sprinkle of joy)




Instructions:




Mix the pancake mix, canned pumpkin, milk, and pumpkin spice together in a bowl.


Heat a non-stick pan and add a tiny bit of butter.


Spoon small dollops of batter into the pan, and cook until they puff up like tiny fluffy clouds.


Flip and cook until golden brown.


Top with maple syrup and a dusting of powdered sugar. Don’t forget the obligatory giggle as you eat them




2. Apple-Cider Donut Holes


What’s fall without apple cider? How about apple-cider donut holes that are so good, they’ll make you want to dance in your kitchen? These tiny, sweet treats are perfect for sharing—if you can manage not to eat them all yourself


Ingredients:




1 cup apple cider


1/2 cup sugar


1/4 cup butter, melted


1 egg


1 1/2 cups flour


1 tsp baking powder


1/2 tsp cinnamon




Instructions:




Simmer the apple cider in a saucepan until it’s reduced by half. Let it cool.


In a bowl, mix the sugar, melted butter, and egg. Add the cooled cider.


Stir in the flour, baking powder, and cinnamon until well combined.


Spoon the mixture into a mini muffin tin (grease it well).


Bake at 350°F (175°C) for 12-15 minutes or until golden brown.


Roll in cinnamon sugar while still warm. Dance a jig for extra fun




3. Maple-Pecan Spiced Popcorn


Imagine if your popcorn went on vacation to Vermont and came back with a souvenir. That’s this popcorn: sweet, nutty, and just a little bit fancy. It’s perfect for cozy movie nights or impromptu dance parties in the living room.


Ingredients:




1/2 cup popcorn kernels


1/4 cup maple syrup


2 tbsp butter


1/2 cup chopped pecans


A sprinkle of cinnamon




Instructions:




Pop the popcorn kernels in an air popper or on the stove. Set aside.


In a saucepan, heat the butter and maple syrup until it’s bubbling and slightly thickened.


Pour the maple mixture over the popcorn and toss to coat.


Sprinkle with chopped pecans and cinnamon.


Let cool slightly (if you can wait) before diving in




4. Sweet Potato Marshmallow Mash


If your sweet potatoes could wear costumes, they’d definitely show up as marshmallows. This mash is like a sweet potato pie, but without the crust—or the pie. It’s fluffy, sweet, and a little bit silly


Ingredients:




4 large sweet potatoes, peeled and cubed


1/4 cup butter


1/2 cup brown sugar


1 cup mini marshmallows


A pinch of nutmeg (or as much as you like)




Instructions:




Boil the sweet potato cubes until tender. Drain and return to the pot.


Mash the sweet potatoes with butter and brown sugar until smooth.


Stir in the mini marshmallows and a pinch of nutmeg.


Serve warm, and prepare for everyone to comment on how it’s like dessert disguised as a side dish




So there you have it—a delightful collection of fall recipes that embrace the lighter side of the season. Remember, cooking is all about having fun and enjoying the flavors of the moment. Share these dishes with friends and family, and most importantly, don’t forget to wear your silly autumn socks while you’re at it


Happy fall, and happy cooking 


 


Need advice on anything Real Estate? Call today


☎️ 780-951-2378 ???? Also visit my website http://www.paullamba.com/


 


topproducer paullamba paullambateam becauseicare yegrealestate yeg yegre yeghomes yegrealtor edmontonrealestate edmontonrealtor
 ]]> </description>
    <pubDate>Wed, 25 Sep 2024 12:07:00 -0600</pubDate>
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    <guid>https://paullamba.maxwellrealty.ca/blog/government-announces-boldest-mortgage-reforms-in-decades-to-unlock-homeownership-for-more-canadians/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/government-announces-boldest-mortgage-reforms-in-decades-to-unlock-homeownership-for-more-canadians/</link>
        <author>info@peshketeam.com (Billy Peshke)</author>
        <title>Government Announces Boldest Mortgage Reforms In Decades To Unlock Homeownership For More Canadians</title>
    <description> <![CDATA[ 











Canadians work hard to be able to afford a home. However, the high cost of mortgage payments is a barrier to homeownership, especially for Millennials and Gen Z. To help more Canadians, particularly younger generations, buy a first home, new mortgage rules came into effect on August 1, 2024, allowing 30 year insured mortgage amortizations for first-time homebuyers purchasing new builds.


The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, today announced a suite of reforms to mortgage rules to make mortgages more affordable for Canadians and put homeownership within reach:






Increasing the $1 million price cap for insured mortgages to $1.5 million, effective December 15, 2024, to reflect current housing market realities and help more Canadians qualify for a mortgage with a downpayment below 20 per cent. Increasing the insured-mortgage cap—which has not been adjusted since 2012—to $1.5 million will help more Canadians buy a home.






Expanding eligibility for 30 year mortgage amortizations to all first-time homebuyers and to all buyers of new builds, effective December 15, 2024, to reduce the cost of monthly mortgage payments and help more Canadians buy a home. By helping Canadians buy new builds, including condos, the government is announcing yet another measure to incentivize more new housing construction and tackle the housing shortage. This builds on the Budget 2024 commitment, which came into effect on August 1, 2024, permitting 30 year mortgage amortizations for first-time homebuyers purchasing new builds, including condos.






These new measures build on the strengthened Canadian Mortgage Charter¸ announced in Budget 2024, which allows all insured mortgage holders to switch lenders at renewal without being subject to another mortgage stress test. Not having to requalify when renewing with a different lender increases mortgage competition and enables more Canadians, with insured mortgages, to switch to the best, cheapest deal.


These measures are the most significant mortgage reforms in decades and part of the federal government’s plan to build nearly 4 million new homes—the most ambitious housing plan in Canadian history—to help more Canadians become homeowners. The government will bring forward regulatory amendments to implement these proposals, with further details to be announced in the coming weeks.


As the federal government works to make mortgages more affordable so more Canadians can become homeowners, it is also taking bold action to protect the rights of home buyers and renters. Today, as announced in Budget 2024, the government released the blueprints for a Renters’ Bill of Rights and a Home Buyers’ Bill of Rights. These new blueprints will protect renters from unfair practices, make leases simpler, and increase price transparency; and help make the process of buying a home, fairer, more open, and more transparent. The government is working with provinces and territories to implement these blueprints by leveraging the $5 billion in funding available to provinces and territories through the new Canada Housing Infrastructure Fund. As part of these negotiations, the federal government is calling on provinces and territories to implement measures such as protecting Canadians from renovictions and blind bidding, standardizing lease agreements, making sales price history available on title searches, and much more—to make the housing market fairer across the country.


Quotes


“We have taken bold action to help more Canadians afford a downpayment, including with the Tax-Free First Home Savings Account, through which more than 750,000 Canadians have already started saving. Building on our action to help you afford a downpayment, we are now making the boldest mortgages reforms in decades to unlock homeownership for younger Canadians. We are increasing the insured mortgage cap to reflect home prices in more expensive cities, allowing homebuyers more time to pay off their mortgage, and helping homeowners switch lenders to find the lowest interest rate at renewal.”


- The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance


“Everyone deserves a safe and affordable place to call home, and these mortgage measures will go a long way in helping Canadians looking to buy their first home.”


- The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities 


Quick facts






The strengthened Canadian Mortgage Charter, announced in Budget 2024, sets out the expectations of financial institutions to ensure Canadians in mortgage hardship have access to tailored relief and to make it easier to buy a first home.






Mortgage loan insurance allows Canadians to get a mortgage for up to 95 per cent of the purchase price of a home, and helps ensure they get a reasonable interest rate, even with a smaller down payment.






The federal government’s housing plan—the most ambitious in Canadian history—will unlock nearly 4 million more homes to make housing more affordable for Canadians. To help more Canadians afford a downpayment, in recognition of the fact the size of a downpayment and the amount of time needed to save up for a downpayment are too large today, the federal government has:








Launched the Tax-Free First Home Savings Account, which allows Canadians to contribute up to $8,000 per year, and up to a lifetime limit of $40,000, towards their first downpayment. Tax-free in; tax-free out; and,








Enhanced the Home Buyers’ Plan limit from $35,000 to $60,000, in Budget 2024, to enable first-time homebuyers to use the tax benefits of Registered Retirement Savings Plan (RRSP) contributions to save up to $25,000 more for their downpayment. The Home Buyers’ Plan enables Canadians to withdraw from their RRSP to buy or build a home and can be combined with savings through the Tax-Free First Home Savings Account.








 ]]> </description>
    <pubDate>Mon, 23 Sep 2024 15:37:00 -0600</pubDate>
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    <guid>https://paullamba.maxwellrealty.ca/blog/sold-sandstone-valley-calgary/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/sold-sandstone-valley-calgary/</link>
        <author>info@peshketeam.com (Billy Peshke)</author>
        <title>SOLD Sandstone Valley, Calgary</title>
    <description> <![CDATA[ 








Congratulations to our seller





We are so happy for you &amp; even more excited for you to carry on your next journey









If You Are Looking To Buy Or Sell ...


Give us a call, we would love to help


403-681-0319












 ]]> </description>
    <pubDate>Mon, 23 Sep 2024 15:02:00 -0600</pubDate>
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    <guid>https://paullamba.maxwellrealty.ca/blog/pros-and-cons-of-paying-cash-for-a-home-in-edmonton-a-realtors-perspective-/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/pros-and-cons-of-paying-cash-for-a-home-in-edmonton-a-realtors-perspective-/</link>
        <author>reubentucker91@gmail.com (Reuben Tucker)</author>
        <title>Pros and Cons of Paying Cash for a Home in Edmonton: A Realtor’s Perspective</title>
    <description> <![CDATA[ 
When buying a home deciding whether to pay cash or finance through a mortgage is a significant decision. As a local Edmonton realtor, helping clients weigh the benefits and drawbacks of paying cash is crucial. Understanding the Edmonton real estate market and the pros and cons of cash purchases can guide homebuyers in making the right choice.





Pros of Paying Cash for a Home in Edmonton




No Mortgage Payments: The most notable advantage of paying cash is eliminating monthly mortgage payments. This offers financial peace of mind, especially for buyers who want to avoid long-term debt, particularly in Edmonton’s stable housing market.


Faster Closing Process: Edmonton cash transactions generally close faster because they bypass the loan approval process, appraisals, and underwriting. In competitive real estate markets like Edmonton, this can give buyers an edge, making cash offers more appealing to sellers.


Stronger Negotiating Power: Cash buyers in Edmonton often have better negotiating leverage since sellers view these offers as more reliable and quicker to close. This advantage may lead to securing a lower purchase price or favourable terms.


No Interest Payments: By paying cash, Edmonton buyers save money on mortgage interest, which can add up significantly over time.


Full Ownership: Once the sale is complete, the buyer fully owns the property, offering security and peace of mind, particularly in a market like Edmonton where property values have remained relatively stable.




Cons of Paying Cash for a Home in Edmonton




Liquidity Issues: One major downside is tying up a large sum of money in real estate, potentially reducing financial flexibility. In case of emergencies, accessing the equity in an Edmonton home may require borrowing through a home equity loan or selling the property.


Missed Investment Opportunities: By paying cash, buyers may miss out on investment opportunities elsewhere, such as the stock market, which could yield higher returns than the interest saved by not having a mortgage.


No Tax Deduction: Unlike mortgage holders, cash buyers in Edmonton do not benefit from the mortgage interest tax deduction, which may lead to a higher tax burden, especially for those in higher tax brackets.


Less Diversification: Paying cash puts a large portion of your financial assets into one single investment—your home. This can reduce diversification in your portfolio, making you more vulnerable to fluctuations in the Edmonton housing market.


Lower Credit Building Potential: Having a mortgage and making consistent payments is one way to build and strengthen your credit score. Cash buyers in Edmonton lose out on this opportunity, which may impact their future borrowing capacity.




Paying cash for a home can offer several benefits, including financial freedom, a quicker closing process, and enhanced negotiation power. However, potential downsides like liquidity concerns, missed investment opportunities, and lack of tax advantages should be carefully considered. As a dedicated Edmonton realtor, my goal is to help clients navigate these options and make informed decisions that align with their financial goals and the unique conditions of the Edmonton real estate market.
 ]]> </description>
    <pubDate>Mon, 23 Sep 2024 12:53:00 -0600</pubDate>
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    <guid>https://paullamba.maxwellrealty.ca/blog/just-listed-135-sandringham-rd-nw-calgary/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/just-listed-135-sandringham-rd-nw-calgary/</link>
        <author>info@peshketeam.com (Billy Peshke)</author>
        <title>JUST LISTED 135 Sandringham Rd NW, Calgary</title>
    <description> <![CDATA[ 





JUST LISTED






135 Sandringham Rd NW, Calgary









Click Here For Listing Details









$600,000 MLS A2166547






Close To Nose Hill Park &amp; Easy Access Into Downtown Calgary


Large Home On Corner Lot


3 Large Bedrooms &amp; Main Floor Office


2.5 Bathrooms


Double Attached Garage









Call/message us for more details: 403-681-0319









Located on a quiet street in the sought-after community of Sandstone Valley in Calgary's NW, this spacious home is ready for your vision &amp; is just steps away from pathways, greenspaces &amp; parks. Enjoy the close proximity of Nose Hill Park With easy access to major roadways &amp; downtown Calgary, this an ideal location The 23x20 attached garage provides ample space for parking &amp; storage. Upstairs, you’ll find 3 generously sized bedrooms, including the primary bedroom w/a full ensuite &amp; large walk-in closet. The upper level also includes a 2nd full bathroom, a linen closet, &amp; a versatile open area that could serve as an office or play space. The main floor has a dining area, a bright front living room &amp; a cozy family room with a wood-burning fireplace. The kitchen &amp; nook offers an additional eating area, plenty of cabinet &amp; counter space, along w/a pantry. A main floor office/flex room, laundry area off the garage, &amp; a convenient half bath round out the main level. Step outside onto a large deck that overlooks a substantial backyard—perfect for entertaining or relaxing. As a bonus, the corner lot provides additional parking.









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    <pubDate>Thu, 19 Sep 2024 19:34:00 -0600</pubDate>
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    <guid>https://paullamba.maxwellrealty.ca/blog/7-tips-for-your-living-room/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/7-tips-for-your-living-room/</link>
        <author>info@peshketeam.com (Billy Peshke)</author>
        <title>7 Tips For Your Living Room</title>
    <description> <![CDATA[ 




The living room or family room is often a focal point for buyers who come to see your listing. They’ll look around and imagine relaxing evenings, family gettogethers, and holidays celebrated in that room. So it’s important to ensure it looks its best. Here are professional staging tips for doing just that:


1. Neutralize the palette.


Consider repainting walls in shades of beige, grey, or off-white. These hues will appeal to a broader range of buyers and allow them to visualize their own décor in the space. These colours will also make the room look bigger.


2. Strategic Furniture Placement.


Position furniture away from walls, if possible, to create a cozy, conversational setting. Keep pathways clear to ensure easy movement and make the space feel more open.


3. Invest in Key Pieces.


A few standout items can elevate the entire look. Perhaps it’s a chic coffee table, an elegant sofa, or a statement rug. And remember – you get to take these with you when you sell.


4. Add Textural Elements.


Incorporate soft throws, plush pillows, or a tactile rug. These elements create a cozy atmosphere that can make potential buyers feel right at home.


5. Minimize Electronics.


While many family rooms are centred around the TV, when staging, it’s advisable to downplay its dominance. Consider a tasteful cabinet or decorative screen to partially hide large electronics.


6. Greenery and Fresh Flowers.


Potted plants, succulents, or a vase of fresh flowers can add vibrancy and a sense of freshness.


7. Accessorize Thoughtfully.


Less is more when it comes to accessories. A few well-chosen pieces – like a decorative bowl, coffee table, books, or elegant candlesticks – can provide the finishing touches without overwhelming the space.


Want more tips on selling your home faster and for top dollar? Contact us today
 ]]> </description>
    <pubDate>Thu, 19 Sep 2024 09:39:00 -0600</pubDate>
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    <guid>https://paullamba.maxwellrealty.ca/blog/interest-rates-in-edmontons/</guid>
    <link>https://paullamba.maxwellrealty.ca/blog/interest-rates-in-edmontons/</link>
        <author>Paul@PaulLamba.com (Paul Lamba)</author>
        <title>Understanding How Interest Rates Affect Home Affordability in Edmonton’s Real Estate Market</title>
    <description> <![CDATA[ 
Interest rates are a crucial element of buying a home, but if you're new to real estate, you might be wondering what exactly interest rates are and how they affect your ability to purchase a home. In this post, we'll break down what interest rates are, how they work, and how recent changes are impacting the real estate market in Edmonton.





What Is an Interest Rate?


An interest rate is essentially the cost of borrowing money. When you take out a mortgage to buy a home, you don’t just pay back the amount you borrowed; you also pay interest, which is a percentage of the loan amount. For example, if you borrow $200,000 with a 5 interest rate, you’ll pay back more than $200,000 due to the interest charges.


How Do Interest Rates Work?


Interest rates are set by banks and can fluctuate based on economic conditions, central bank policies, and other factors. When interest rates are high, borrowing money becomes more expensive, and when rates are low, borrowing is cheaper. These changes can affect how much you end up paying each month and over the life of the loan.


The Impact of Interest Rates on Home Affordability




Monthly Mortgage Payments When interest rates rise, your monthly mortgage payments increase. For instance, if you’re borrowing $300,000 and the interest rate is currently 4.25, your monthly payment might be around $1,476. If the rate rises to 5, the payment could increase to approximately $1,610. This additional $134 per month can significantly impact your monthly budget. Example: At a 4.25 interest rate, a $300,000 mortgage results in a monthly payment of about $1,476. If the rate increases to 5, the monthly payment could rise to around $1,610. This additional $134 per month can have a substantial effect on your budget, potentially affecting your ability to afford the same home.


Total Cost of the Loan Over the life of the mortgage, higher interest rates result in paying more in total. For example, a 30-year mortgage at 4.25 might cost you around $197,000 in interest over the life of the loan, whereas a 5 rate could increase that cost to about $277,000. This means you’re paying thousands of dollars more in interest with higher rates.




How Recent Interest Rate Changes Are Impacting Edmonton’s Real Estate Market




Reduced Buying Power As interest rates increase, buyers may find their purchasing power reduced. This means that you might need to look for a less expensive home or consider different neighborhoods that fit within your new budget constraints. Example: If your budget allowed you to buy a $400,000 home before the rate increase, you might now need to search for homes priced at $350,000 or less to keep your mortgage payments manageable.


Longer Selling Times For those looking to sell their homes, higher interest rates can slow down the market. Fewer buyers may be interested due to increased borrowing costs, which can lead to homes sitting on the market longer. Sellers may need to adjust their expectations and pricing strategies to attract buyers.


Impact on Real Estate Investors Investors also feel the pinch from higher interest rates. The increased cost of financing can reduce the profitability of rental properties, leading investors to rethink their strategies or explore alternative financing options.







Strategies to Manage Affordability in a Changing Interest Rate Environment




Consider Fixed-Rate Mortgages A fixed-rate mortgage locks in your interest rate for the entire term of the loan, providing stability in your monthly payments despite rate fluctuations.


Save for a Larger Down Payment By putting more money down upfront, you can reduce the total loan amount and, consequently, your monthly payments. This can help make homeownership more affordable even when interest rates are high.


Shop Around for the Best Rates Different lenders offer various rates. Comparing rates from multiple lenders can help you find the best deal and potentially save money over the life of your loan.







Interest rates play a significant role in determining how affordable a home is and can greatly impact both buyers and sellers in Edmonton’s real estate market. As rates rise, borrowing becomes more expensive, affecting how much home you can afford and how long it might take to sell your property. Understanding these dynamics and exploring strategies to manage your mortgage costs can help you make informed decisions in the current market. If you need more personalized advice or have questions about navigating these changes, feel free to reach out for expert guidance.


Need advice on what your home needs to sell fast and for top dollar? Call today


???? 780-951-2378  
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    <pubDate>Wed, 18 Sep 2024 09:43:00 -0600</pubDate>
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