How to Deal With Mortgage Payment Difficulties

When unforeseen financial circumstances impact your ability to make regular mortgage payments, you need to take quick action. With early intervention, cooperation, and a well-executed plan, you can work together with your mortgage professional to find a solution to your financial difficulties.

If you or your spouse has lost employment and no longer makes as much money, and you see that meeting your mortgage payment obligations is going to be problematic, the first step is to take a deep breath. There are literally millions of people who face the same problem. Fortunately, there are ways to avoid default and keep your home, so read on for more information on how to avoid a mortgage default.

1- Get moving on a solution. Your first option is to find a way to make up the back payments and continue fighting to make your payment on time every month. Although not an attractive option, it is an option.

Explore options to decrease expenses and increase income, such as an additional job, selling possessions, and looking to community resources for help. You may have to temporarily cut back on things like dining out, internet, and cable.

If you have a basement or spare room, you may consider renting it out. The extra income could be up to 50% of your mortgage payment.

2- Work with your lender. Contact your mortgage lender. Banks do not want to foreclose on properties. The process is long and costly, and in the end, mortgage lenders lose money. Instead, they would rather work alongside borrowers who are slightly behind on payments and come up with a practical solution.

Consider extending your mortgage term to reduce your monthly payments. The downside is that you will end up paying more in the long term. However, if it means you are able to continue meeting the minimum mortgage payments, it is worth doing.

Set up a repayment plan. If you are unable to pay your mortgage payment for one or more months, the lender may agree to a repayment plan. The mortgage lender adds additional money to each subsequent mortgage payment until the loan is up-to-date.

Your lender may also suggest an Interest-Only Mortgage. This will also reduce your monthly mortgage payments, often quite substantially. However, again the disadvantage is that, in the long term, you will need to find an alternative investment plan to pay off your mortgage capital, which might be a good short-term option.

3. Refinance your mortgage. 
This is perhaps the easiest and most effective method. If you happen to be on your bank’s existing standard rate, the chances are you will be able to find a much better deal.

4. Talk to a Financial Advisor. 
If the situation is becoming overwhelming and you are really in danger of defaulting, you may need to consider speaking to a financial consultant or accountant. This will arm you with expertise and resources with which to approach planning your financial future and make the most of your current circumstances.

5. Resell – Downsize. 
This option is probably the most drastic and is to be undertaken only when the others have failed. If you can sell your house, you can temporarily rent somewhere cheaper or buy a cheaper house in a different location. The money saved can be used to pay off your mortgage. This option is not easy, due to the costs involved in moving, but it might be worth doing in the long term.

If you can see that things are going to get bad in relation to meeting your mortgage payment obligations, take a deep breath and take action now—it will help in the long run.

 

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Buying New Construction vs. Older Homes

When deciding whether to buy an older home or a newly constructed one, many questions come to mind. Start by educating yourself and knowing the pros and cons of each.

In most cases, existing homes have a touch of character with their own charm and details.  They are usually located in more established neighbourhoods with mature trees and desirable landscaping, and may be closer to city services such as schools, libraries, hospitals, shopping centres and public transportation.

Older homes may have better quality materials and workmanship that are too costly for newer homes, and may come with window coverings and appliances which are often included with the home. If you are lucky, you may still get an updated kitchen and bathrooms if the home has been renovated.

However, existing homes are generally less energy efficient and are typically more costly to heat and cool. They may need updating and require expensive repairs, and sometimes it may be difficult to find or match older building materials.

Newer homes usually have bigger rooms, more built-in wardrobes and closets, and more bathrooms. If you are building a new home, you can also influence the layout and the finishes within the home as part of the negotiations with the builder or developer.

Whereas with an existing home, you will inherit what the previous owner built or remodelled over time. Very rarely will an existing home be built and finished exactly to your liking. Think about how much renovating you'll need to do to an existing home. If you can buy an existing home that's been totally renovated in a great neighbourhood within a good school district, this might be a better choice than moving into a newer neighbourhood with an unestablished school district.

On the other side, buying a newly-built home tends to cost more than an existing home, unless you buy outside of the city, where land is cheaper. Of course, you will have to consider the price of gas to get to your job.

And it isn't just about getting to your job. You'll also want to think about how long it will take to get to a grocery store, dry cleaners, your kids' school, your house of worship and other places you get to by car.

While new homes are more expensive, they might also increase in value faster than an existing home. That said, it may be challenging to buy a new home in your neighbourhood of choice, unless you buy a vacant lot, hire a developer and build your own home, which can get quite costly.

However, with new homes, you get warranties and guarantees on appliances that come with the new home. Dangerous building materials, such as lead and asbestos, will likely not be a problem. A new home will meet modern safety and building codes and usually use building materials that offer improved insulation, thereby reducing your heating bill.

You may be able to upgrade or customize such features as floor coverings or paint colours, and sometimes the floor plan. New homes often have more closets and storage space, and most importantly, don't require as much maintenance.

New homes though, have their own disadvantages. Higher taxes could be required to bring water, gas or electrical services to a still under-populated area. Resale could be difficult if the entire neighbourhood is not yet complete, and you may have to cope with construction noise, dust and mud. New neighbourhoods frequently lack the relaxing appearance of mature trees, and your new subdivision may require costly landscaping.

You can make the case for and against buying either a new home or a "used" home. It's great to live in a brand new home, but there's nothing like the feel of an established neighbourhood. The bottom line is: Don't buy someone else's problems unless you can tackle the solutions.

 Find a house you like, consider its pros and cons — objectively, as well as emotionally — and think about the compromises you're willing to make. The more logically you approach buying the house, the more you're going to love living in it.

 

Tips for Buying Outdoor Furniture

Great patio furniture brings comfort and function to your outdoor spaces. With a spacious table and comfortable chairs, a basic patio can be transformed into a cozy area for entertaining.

Choosing patio furniture should not be a hard decision. There are many types of outdoor furniture to choose from.  Taking a walk through a home improvement store, a patio furniture store, or a garden centre during the spring and summer months will remind you of the many types and styles of furniture that are available.  With so many options, selecting outdoor patio furniture or accessories to suit your decorating style should be a breeze.

Several factors should be taken into consideration, including price, style, and maintenance.

When it comes to price, you need to examine your budget carefully. While it’s true you get what you pay for, it is possible to get an excellent deal for a high quality product. Your comfortable patio furniture should not be a place where you skimp on money because it is an investment that will last for years to come. It is important to remember though, price doesn’t always equate to quality.

There are several different styles of comfortable patio furniture and what you choose will depend on your personal taste. Outdoor furniture is most commonly made out of wood, metal, plastic, wicker or a combination thereof. Choose a style you like that fits your budget. Focus mostly on the cushions themselves–some sets may not come with them–because this is where your comfort is going to come from. Some sets may offer more comfortable cushions than others. Who wants to sit on bare furniture? When you choose the material, consider the climate you live in and how well it will hold up against the elements.

Depending on how many people you wish to seat and the available space, you will need to choose a suitable outdoor furniture set from the many options on the market. It's a good idea to choose something that has matching seats, benches and canopies if you want a co-ordinated look. For some people, outdoor tables may be all that is required, either because they already have other outdoor furniture and simply want to accommodate more people or because they want to have additional table space for all the extra food, drinks, and tableware that goes with outdoor entertaining.

You should measure and plan where you will put the furniture to ensure you have room for the entire set, including an umbrella to provide shade.

Finally, it is important to remember that most outdoor furniture requires maintenance.  It may require re-staining, steam-cleaning or covering during harsh weather periods.  Be sure to know what maintenance your outdoor furniture requires, as this will add to the cost of the furniture over the long run.

How to Choose Your Next Neighbourhood

If you’re buying a new home, the neighbourhood you choose can be just as important as the choice of home. Keep in mind that you're not just buying a house, you're investing in a neighbourhood. The two are synonymous so you need to be extra careful in choosing the area you'll be living in. So, how do you choose the right neighbourhood?

Factors to Consider When Evaluating a Neighbourhood
When evaluating a neighbourhood, you should investigate local conditions. Depending on your own particular needs and tastes, some of the following factors may be more important considerations than others:

• Style of homes
• Quality of schools
• Property values
• Traffic
• Crime rate
• Future construction
• Proximity to: Schools, Employment, Hospitals, Shopping, Public transportation, Cultural Activities (museums, concerts, theatres, etc.), Highways, Airports, Beaches, Parks, Stadiums

Neighbourhood Search Strategies
If you’re a first-time buyer with limited financial resources, it’s a wise purchasing strategy to buy a home that meets your primary needs in the best neighbourhood that fits within your price range.

You can maximise your home purchase location by incorporating some of the following strategies into your neighbourhood search:

• Look for communities that are likely to become "hot neighbourhoods" in the coming years. They can often be discovered on the periphery of the most continuously desirable areas.
• Look for a home in a good neighbourhood that is a bit farther out of the city. If commuting is a concern, purchase a home that is close to public transportation.
• Look at the neighbourhood demand by asking us whether multiple offers are being made, whether the gap between the list price and sale price is decreasing, and whether there is active community involvement. You can also drive around neighbourhoods and see how many "sold" signs there are in a particular area.
• Look into purchasing a condominium or co-op, rather than a house, in a desirable neighbourhood. This way, you still may be able to purchase in a prime area that you otherwise could not afford.

Bedroom Makeover with Feng Shui

Feng shui is an ancient and wise approach to the way our environment affects us. The way we feel and the way we act is influenced in large part by the environment that surrounds us. Therefore, by learning how to properly organize what surrounds us, we can improve our lives, and this is what feng shui is all about.

Feng Shui literally means “the way of wind and water”. It is a way of manipulating the universal life force known as chi, so that it flows unobstructed within our bodies, homes and workplaces.

Use these feng shui tips to arrange a safe haven in your bedroom.

1- Remove the TV, computer, exercise equipment, and any other work-related materials. The bedroom is a place for sleeping, relaxing, and sexual healing and should not be cluttered with other items that destroy the good feng shui energy in your bedroom.

2- The bed should be the biggest piece of furniture in the bedroom. It should be easily approachable from both sides to balance the flow of energy. It must have two bedside tables (one on each side), and a solid headboard. Choose the mattress wisely and invest in the one that will promote the best sleep and relaxation.

To allow for a balanced feng shui energy flow under the bed, you need to have your bed at a reasonable height above the floor level. Beds that have built-in storage drawers underneath are considered bad feng shui beds because the energy needs to circulate around your body when you sleep, which is not possible if the space underneath the bed is blocked.

3- In addition to a good headboard, you always want to have a solid wall behind your bed. When you sleep under a window, your personal energy tends to get weaker in time, as it has neither proper support nor protection. You also need to make sure that the bed is not placed in line with the doors.

4- Make sure there are no heavy or sharp items hanging over your bed. Do not hang a ceiling fan, chandelier, or chimes above your head as this is also considered bad feng shui.

5- Use soft colours to achieve a good feng shui balance in your bedroom. The best colours for the bedroom are the "skin tones", pale-white to rich chocolate brown tones. Avoid rich water (blue) colours.

6- Soft, dim lights are the best for bedrooms. Use a dimmer switch to adjust the level of light in the bedroom. Candles are the best feng shui bedroom lighting, but be sure it does not emit toxic fumes or pose a risk of fire.

7- Keep all the bedroom doors closed at night. This will allow for the best and most nourishing flow of energy to strengthen your health, as well as the health of your relationship.

8- Do not have mirrors reflecting or behind your bed. Mirrors bring the energy of the feng shui element of water, and a strong feng shui water element in the bedroom attracts the energy of sorrow, which can weaken your energy when you sleep. Try to reposition the mirror or cover it with a nice fabric.

9- Open the windows often to keep the air fresh and full of oxygen. You cannot have good feng shui in your bedroom if the air you breathe in is stale and full of pollutants.

10- Plants in the bedroom are not good feng shui, unless your bedroom is fairly large and the plants are located far from the bed.
A comfortable bedroom promotes a harmonious flow of nourishing and sensual energy, which excites and calms you at the same time. Creating a balanced and comfortable bedroom is one of the most important things you can do in your home.

How to Make Your Garage Sale Fun and Profitable

Rather than discarding what you no longer use or want, you can hold a yard or garage sale to clear clutter and earn some extra cash. A garage sale can be a profitable and fun way to make sure items you no longer use or want are reused. Holding a garage sale is easy to do, and all it takes is some time, a few organizational skills, and some marketing, and you will be on your way to turning your junk into cash.

The following are some tried-and-true tips for a successful garage sale:

1. Planning
The success of your garage sale depends on how well you organize for this big event. You should prepare yourself several weeks in advance, as you have to sort, clean, test, repair, label and count all items included in the sale. Choose a date that will not conflict with holidays. The weekends are a better choice than weekdays because more people are likely to show up. You should also consult your real estate agent about any pertinent bylaws from your municipality as certain cities control the number and length of garage sales in their area. Ask neighbours if they want to take part in a neighbourhood sale, as this will give your sale a party atmosphere, which will draw larger crowds.

2. Items for Sale
You should display and sell practical household goods, bicycles, children’s toys, clothes, sports equipment and garden tools in your garage sale. All items should be clean, polished, and in good repair. Remember to limit yourself to the sale of used personal items; otherwise, you'll need a permit and GST/PST registration numbers if you are selling new items.

3. Advertising
As the big day approaches, promote your event effectively to attract as many people as possible. Put up posters in your neighbourhood to promote your event and write your address in big letters, and don't forget to include the date and time of your garage sale. Make sure that the poster is legible from 10 to 15 metres away. You could also place a classified ad in your neighbourhood newspaper, distribute flyers to your neighbours, and get your family and friends to help spread the word about your garage sale.

4. Displaying Your Items
Before your event begins, ensure that you display your items attractively in neat and clean surroundings. Place things in categories, as it will look more attractive. Place the more desirable items toward the back so browsers can notice other merchandise on their way to the best items.

5. The Big Day
On the day of your garage sale, put up a big poster with balloons at the end of your street as well as the busiest intersection near your house to attract and direct people. Be ready early because the real garage sale pros tend to be early birds. Mark the price of articles and leave some room for bargaining. Don't be too rigid about the prices because you are having fun while cleaning out your house and garage. Make sure you have change, bags, boxes and tissue paper for fragile items and remember to have an extension cord and batteries to test that certain items are in working order. Use your garage sale as an opportunity to mingle with the neighbours and create a sense of community. Be creative and have fun! Mark the season of spring as your time to clean up your house and discard items that are cluttering the garage and house. Throwing a garage sale will help you do just that while having fun and enjoying a sunny afternoon.

How to Maintain Good Credit

In today’s society, credit is our gateway to purchasing big-ticket items like a home, cars, electronics, and many other daily needs. When you buy something on credit, you are responsible for repaying it under the contract with the lender. If you do not pay the debt according to the terms and agreement, your credit score will be affected. When you have bad credit, you will be denied financing up to 90% of the time because the lender looks at you as a serious risk, which is not good.
 
So, how do you build and maintain good credit?
 
Establish chequing and savings bank accounts
This is the basic step necessary to build credit. Lenders see bank accounts as signs of stability. Opening a chequing and savings account is one of the few things young people can do to start building a financial history. While you can't get a credit card in your own name until you're 18, many banks have no problem letting you open an account.
 
Always pay your bills on time
This is one of the major factors that keeps people from increasing their credit score. When you make a late payment, the lender will mark your credit and this will substantially affect your credit score. Some people do not listen to this and charge more than they can afford. They get caught in a trap that they can never get themselves out of because they can barely afford to pay the payments.
 
Check your credit report regularly
Your credit report is available to you at little or no charge from major credit reporting agencies like TransUnion or Equifax.
 
Your credit report contains all your financial obligations and accounts associated with you. This is what banks, mortgage, credit card, and auto loan companies use when reviewing your application. Every transaction or purchase that you have made shows on your credit report.
 
Check your credit report for inconsistencies, incorrect information or accounts that you do not know about. If there are any corrections that need to be made, follow up with the credit bureaus.
 
Do not spend more than your credit limit 
A limit is set for you so you do not go over it. A creditor looks at you and thinks that you spend beyond your means, and instead of you trying to improve your score, you are hurting it.
 
The best way to avoid going into serious debt or financial trouble is to avoid using credit at all and use cash or your bank account instead. If you are in a situation where it is an emergency use credit, then pay it off immediately. The problem with today’s society is that we spend way more than we make, and this is what gets us all in trouble.

Build a Greenhouse for Early Spring Planting

With spring just around the corner, many homeowners have gardening on their minds. The seed catalogues are well worn from repeated flipping of pages. Seeds have been ordered, and some early bedding plants have been started. Many of us are itching to get outside and start seeding the garden, but it is too early. The days are warming but the nights remain too cold to allow seedlings to survive.

One way out of this dilemma is to build your own portable greenhouse. A simple greenhouse can consists of some wooden frames that are bolted together and assembled in the garden. The greenhouse can be easily dismantled and folded flat for storage. It can be built to any size specifications, depending on your needs. Many home-depot stores sell some preassembled DIY kit that can be put together easily in one afternoon at very reasonable prices.

The floorless greenhouse allows light and heat to enter, but prevents some of the heat from escaping. Thus, the temperature inside the greenhouse increases during the day. The soil over which the greenhouse is placed stores some of this heat. During the night, when the outside temperature is cold, the heat gradually escapes from the soil but the greenhouse holds enough of this heat to prevent frost from damaging the plants inside.

The system works well if the air temperature is not too cold, though additional frost protection can be achieved by using internal and external curtains.

The greenhouse can be set over the garden area in the early spring (March). For best results, the garden should be located in an area that receives full sunlight. As the air temperature builds up inside, any snow covering will melt and the ground will begin to warm. By mid to late March it is often possible to seed directly into the soil "floor" of the greenhouse. Only plants that tolerate a cool growing season, can be seeded early. Warm-season crops such as require much more warmth that this greenhouse can provide.

As the days become warmer, too much heat may build up inside the greenhouse. It is very important not to let this happen, or you might lose your crop. The simplest solution is to leave the greenhouse door partly open to provide ventilation. When the days become quite hot, remove the greenhouse. In September it can be taken out again and placed over the garden patch to extend the growing season.

 

Protecting Your Privacy While Your Home is On the Market

Many people will likely spend considerable time browsing your home while it is on the market. If you are living in the home while it is for sale, your personal things will be on show too, and potential buyers might look through drawers and other items that are inside your home. Your privacy and security may become an issue when showing your home, so it is important to consider all your options before you welcome someone into your home.

For many individuals, protecting their privacy is very important, while others are simply concerned that buyers will make assumptions about them and judge them, rather than simply judging their home. However, the importance of protecting your privacy is the same, and that goes for anything personal, from financial information, such as cheque books, to bank statements and personal letters.

Protect your documents
Keep in mind that a potential buyer may open cabinets or drawers—this is not considered snooping. Buyers can innocently tug on a drawer to inspect its construction or depth and find important documents that you might not intend for anyone to see.

Don't leave mail where anybody can find it
Many sellers make the mistake of leaving piles of opened mail neatly stacked on the kitchen counter or somewhere else in the home. By leaving your correspondence out on the table, a potential buyer can find out about your credit card debt, whether you have filed for bankruptcy, and other private information that you probably don't want the buyer to be aware of. Not only is this an invasion of your privacy, but it can also change the offers that you receive from buyers. If you have a stack of mail from a collection agency, the buyer will know you are desperate to make a sale and will likely propose far under the list price.

Remove personal effects from your walls
From diplomas and religious artifacts to wedding certificates and personal photos, don't provide buyers with any personal information about yourself or your family. De-personalizing is also an important move to make when staging your home for sale anyway, so you can actually accomplish two things by removing the personal effects from your home.

Don't leave your computer up and running during showings
Gaining personal information from your computer takes only minutes for a professional hacker or thief, so be proactive and turn your computer off before potential buyers arrive.

Before you put your home on the market, empty out drawers, stage closets, and pack up anything personal, including medications. Disassociate yourself with your home—remind yourself that it is a house—a product to be sold on an open market that is bound to see plenty of new faces throughout the term of the selling process.

Consider renting a locker at your local bank and storing away your jewelry and other valuable items. It is better to be safe than sorry.

How to Avoid Buyer's Remorse

Buyer's remorse is an emotional response that many homebuyers experience during the course of a real estate transaction. The response can take various forms such as feelings of regret, fear, depression or anxiety. Many doubtful questions may arise: Did I buy the right house? What if I lose my job? What if home prices drop? Did I overpay? Is this really the neighbourhood I want to live in? Can I really afford the mortgage payments?

There are hundreds of questions that will run through your mind during the period leading up to closing: the day you actually become the owner of the home. Most of the questions will be simple ones that are easily answered, but sometimes doubts creep in, making you uncertain if you want to proceed with the purchase.

When you decide to buy a new home, you're forced to step outside your current comfort zone and confront the unknown. Your mind may try to compensate psychologically for feelings of uncertainty by mentally undoing the event. In other words, you may try to talk yourself out of buying your dream home. Add feelings of uncertainty to the fear of making a long-term commitment, and it's easy to understand why homebuyers can suffer from bouts of anxiety.

Here are some tips that can help you battle home buyer’s remorse:

1. Prepare yourself
The best way to cope with buyer’s remorse and minimize its destructiveness is to make sure that you are well-informed. You should find out as much as you can about the home buying process, local home prices and home mortgages.

It's a good idea to study a sample purchase agreement before you buy. Read the contract carefully to make sure that you understand it, and that it says what you think it should. If you have any questions about the purchase agreement, talk to your agent or real estate attorney.

2. Choose the right agent
In order to make sure that the purchase transaction goes smoothly, it is important that you choose the right agent to represent your interests. The right agent will be someone whose experience, knowledge and personality are trustworthy and will allow you to feel comfortable with the whole transaction. Try to find an agent who is familiar and knowledgeable about the neighbourhood and community that you plan to move into.

3. Make sure the property meets your needs
Get out that list of wants and needs you made back when you first started the home shopping process. Does the home you selected include the important features that you want? Provided that you saw a number of homes and thoroughly evaluated what each home had to offer, it’s likely that the house you’re about to buy is the best choice for you.

4. Is the price right?
Feeling certain about the price you are paying for a home is one of the most important factors that can reduce uncertainty and increase your comfort level. If your agent didn't prepare a comparative market analysis for you on the home you are buying, have him or her prepare one for you now.

5. Consider the resale value
As you look at houses in a particular area, think about what all of the houses have in common. Most neighbourhoods are usually built at the same time by the same construction company and will have similar floor plans and similar amenities (excluding possible owner upgrades). Before you consider buying the house with the most upgrades, consider whether or not you want to tackle a remodel. Don’t just consider the cost of the remodel, but also think about the amount of time and headache you can handle. No remodel goes smoothly! If a house with a newer kitchen costs $20,000 more than a house with an older kitchen, and you do not have the time to renovate, it may still be worth buying the house with the new kitchen.

6. Ask questions
No one knows the home better than the seller of the property. If you can find out the seller's motivation for selling, you might be able to negotiate a better deal on the house. Try to find out the last time service was performed on the roof, furnace, plumbing and water heating system. Asking the right questions upfront can end up saving you a lot of money in the long run.

7. Get a home inspection
Save yourself a lot of time in future litigation and renovation by bringing in a licensed, professional home inspector to inspect the home before you buy. If any major problems are found, it will steer you away from a bad decision and/or it will help you negotiate a better price at the negotiating table.

8. Review your finances
You may want to review your finances to confirm that you can afford to make the purchase. Your feelings of remorse are probably unfounded, so the more rational things you can do to put your decision into the proper perspective, the better.

9. Discuss your concerns with your agent
Your agent has seen plenty of cases of home buyer’s remorse, and he or she can help put your fears and doubts into perspective.

Remorse is a common feeling during the home-buying process. Following the above tips will help you make an educated decision and reduce any remorse you may have.

Time for Spring Cleaning

Spring cleaning is an old tradition rooted in many cultures. It is the process of thoroughly cleaning a house from top to bottom once the weather has lost its winter chill.

Spring cleaning origins date back to prehistory and represent the time when it was easiest to conduct a good cleaning of living spaces. Extra light allowed people additional time to truly see the messy state of their caves, huts, or teepees. Warmer weather also meant that people could get things thoroughly dry. In agrarian societies, spring cleaning usually coincided with the beginning of planting. Spring was an ideal time to organize seeds and get the home ready for the busy months ahead. As well, there are several suggested origins for spring cleaning based on religious practices. For many of us the warmer weather inspires us to want to take the time to get the house in order after the winter months.

In the past, inadequate heating in homes and small living spaces often meant that certain types of cleaning had to wait for spring. Before modern dryers, washing drapes or comforters was complicated by cold weather and tight living quarters. Those in cold climates had no other choice but to wait for warm weather to hang laundry outdoors to dry.

Today, the thought of taking a weekend or even a day to turn our houses upside down seems a near impossibility. Who has the time? Besides, our modern, centrally heated and cooled, climate-controlled homes don’t get oily, sooty, or smoky, and our washing machines and vacuum cleaners help keep the dirt from sneaking in. Despite this, a thorough cleaning of your house offers many health advantages that you should not ignore. During the cold days of winter, the quality of indoor air can be two to five times worse than outdoor air. Those seemingly harmless dust bunnies locked in our air-tight homes - and the daily use of many chemical cleaning products  - contain airborne toxins that can aggravate respiratory and other health problems.

Revitalize your hibernating home with these simple suggestions:

1. Work from the top down, inside to outside, to avoid getting what you just cleaned dirty again.
2. Do one room, even one area of one room, at a time to avoid unfinished jobs. The satisfaction of seeing one room sparkle will make the hard work feel like it's worth the effort.
3. When tidying, reduce trips around the house by temporarily depositing items in one spot en route to but not at their final destination.
4. Do two things at once. While the laundry is going, scrub the shower stall.
5. Make small repairs. If you're not handy, hire someone.
6. Invest in good rubber or vinyl gloves to protect your skin and nails.
7. Dust before vacuuming or cleaning the floor. Try feather or lambswool dusters, especially extendable ones for reaching above window and door casings and into corners. Household rags are invaluable for jobs requiring a damp cloth – natural fibres work best.
8. Buy mops with a squeeze mechanism and a decent-size heavy-duty pail – one with a measuring scale helps get soap-to-water ratios correct.
9. Use a Swiffer for light dusting, or your favourite broom or vacuum attachment to clean hardwood floors. Then damp-mop with a mild cleaner such as Murphy Oil Soap.

The $130,000 Question: A Full Rundown of Ontario’s New HST/GST Rebates for 2026 for New Home Purchases

Stop what you’re doing. If you’ve been sitting on the sidelines of the Waterloo Region real estate market, waiting for a sign from the universe (or the government) to finally make your move, today is your day.

It’s Wednesday, March 25, 2026, and the Ontario provincial budget just dropped some news that is: quite literally: a hundred-thousand-dollar game-changer. We’ve been talking about the federal Bill C-4 rebates for a while now, but the province just threw a massive curveball that makes buying a new home in Ontario more affordable than we’ve seen in a generation.

I’m talking about a potential $130,000 in combined rebates.

Whether you’re looking at a sleek new mid-rise in Mary-Allen, a sprawling family home in Doon South, or considering a substantial renovation in the classic streets of Westmount, you need to understand how these numbers work. Because as of today, the rules of the game have changed for everyone, not just first-time buyers.

The Breaking News: The "All-Buyer" Provincial Boost

For the last few months, the buzz was all about first-time buyers getting a leg up. But as of this morning’s budget announcement, the Ontario government has opened the floodgates.

Starting April 1, 2026, the province is temporarily expanding the full 8% provincial HST rebate to ALL homebuyers: not just first-timers: for homes valued up to $1 million. This is a one-year window, ending March 31, 2027.

Here is why that is a big deal: Previously, if you weren’t a first-time buyer, your rebate options were significantly capped. Now, if you are selling your current spot in Beechwood to upgrade to a larger new build, or perhaps downsizing to a luxury condo in Uptown Waterloo, you can suddenly access up to $80,000 back from the provincial side alone.

Breaking Down the $130,000

I know, math is usually the part where people start scrolling, but stay with me. This is $130k we’re talking about. To get to that magic number, we have to look at two different "pots" of money: the Federal GST portion and the Provincial HST portion.

1. The Federal Slice (The GST Rebate)

Under Bill C-4 (The Making Life More Affordable for Canadians Act), the federal government offers a 100% rebate on the 5% GST portion for new homes priced up to $1 million.

• The Max Savings: $50,000.
• The Catch: This part is still reserved for those who meet the 5-year rule. To qualify as a "first-time buyer" for this federal rebate, you (or your spouse/common-law partner) must not have owned a home that you occupied as a principal residence in the last five years.

2. The Provincial Slice (The Ontario HST Rebate)

This is the 8% portion. Usually, this was capped much lower, but with today’s announcement:

• The Max Savings: $80,000.
• The Big Update: From April 1, 2026, to March 31, 2027, this is available to everyone buying a new home under $1 million.

The Math for First-Time Buyers

If you are a first-time buyer (haven’t owned in 5 years) and you buy a new home for $1,000,000:

• Federal Rebate: $50,000
• Provincial Rebate: $80,000
• Total Savings: $130,000

The Math for Repeat Buyers (The "April Window")

If you already own a home but are buying a new-build for $1,000,000 within this one-year temporary window:

• Federal Rebate: $0 (unless you haven't lived in your owned home for 5 years)
• Provincial Rebate: $80,000
• Total Savings: $80,000

That is an extra $80,000 in equity that repeat buyers didn't have access to yesterday. It's an incredible incentive to finally pull the trigger on that move-up home.

What About Homes Over $1 Million?

I get this question a lot, especially from clients looking at premium detached homes in areas like Doon South or modern custom builds near Westmount. The good news is that you aren't completely cut off if the price tag hits seven figures.

The rebate follows a sliding scale:

• Up to $1 Million: You get the full $130,000 (if eligible for both).
• $1 Million to $1.5 Million: The rebate stays flat at $130,000.
• $1.5 Million to $1.875 Million: The rebate gradually decreases as the home price rises.
• Over $1.875 Million: The rebate phases out completely.

According to data from the Cornerstone Association of Realtors, the average price for a detached home in the Waterloo Region has remained competitive, meaning a huge chunk of our local new-build inventory falls right into that "sweet spot" of maximum savings.

Why the Waterloo Region is the Place to Be

We aren’t just talking about numbers on a spreadsheet; we’re talking about where you live. Whether you’re hopping on the blue and white ION light rail to get to work in the Tech Hub or taking the kids to the park in Mary-Allen, these rebates make our local neighbourhoods even more attractive.

If you’ve been eyeing those new mid-rise developments in Uptown Waterloo, the combination of modern urban living and a $130,000 rebate is hard to beat. Or maybe you're looking at the growing subdivisions in Doon South, where the infrastructure is expanding to support thousands of new families.

The "5-Year Rule" Explained

Let’s clear up some confusion on the federal side. A lot of people think "first-time buyer" means you’ve never owned a home. That’s not quite right in the eyes of the CRA for 2026.

If you owned a home ten years ago, sold it, and have been renting ever since, you are likely considered a first-time buyer again under the 5-year rule. This opens the door for the full $130,000 rebate. If you’re unsure about your status, it’s always worth checking with a pro (or giving me a shout) before you assume you don't qualify.

Timing is Everything: The One-Year Window

The most critical part of today's announcement is the clock. The provincial expansion for repeat buyers is a temporary measure.

• Start Date: April 1, 2026.
• End Date: March 31, 2027.

The Ontario government projects this will support up to 21,000 jobs and boost the provincial GDP by $2.7 billion. But for you, it means you have exactly one year to secure a deal that includes an extra $80,000 provincial boost if you aren't a first-timer.

If you're looking at pre-construction, the date of the signed Agreement of Purchase and Sale is what typically matters, but you’ll want to ensure your lawyer reviews the "closing date" requirements to ensure the rebate is locked in.

How to Get Started

Navigating tax rebates, federal legislation, and provincial budgets while trying to find a home with the perfect kitchen in Beechwood is a lot to handle. That’s where I come in.

1. Check Your Eligibility: Are you a "5-year" first-timer or a repeat buyer?
2. Get Your Pre-approval: Before you go shopping for that $999,000 new build, make sure your financing is rock solid. You can start that process right here: https://kimlouie.net/mortgage-preapproval.
3. Scope the Neighbourhoods: From the quiet streets of Westmount to the vibrant energy of Uptown, let’s find the right fit for your lifestyle.
4. Understand the Contract: Many builders will include the HST rebate in their sticker price. You need to know if that $130,000 is coming back to you at closing or if it’s already been deducted from the price you're paying.

Final Thoughts

Today's news from the Ontario Budget is a massive win for housing affordability in our province. It’s not often the government hands out $80,000 to $130,000 to help you buy a home.

If you’ve been waiting for the right moment to move into a new build in the Waterloo Region, the window is officially opening on April 1st. Don't let this year-long opportunity pass you by.

Ready to see what's available? You can search all current listings in the region here: https://kimlouie.net/search.

Let's get you into that new home: and keep that rebate money where it belongs: in your pocket.

Kim Louie, Real Estate Broker partnered with Coldwell Banker Peter Benninger Realty | Your Waterloo Region Real Estate Resource
📲 519.573.0837
📧 realtorkimlouie@kimlouie.net
💻 www.kimlouie.net

*** Not intended to solicit clients under contract. Content is for informational purposes and not guaranteed nor warrantied ***