Boost your Down payment and get a RRSP Refund using Federal Home Buyers Program for First Time Buyers
The Deadline for this RRSP season to help with your first home; contribute before March 1, 2013!
It’s RRSP season! If you’re a first-time buyer, consider how the Federal Home Buyers’ Program (HBP) and a tax refund can boost the funds you have available for your purchase.
If you have RRSP contribution room, you should contribute your savings before March 1, 2013 so you can qualify for a 2012 tax refund based on the amount you contribute and your marginal tax rate. Then, after 90 days, you can redeem those funds under the Home Buyer’s Plan (HBP). The HBP lets first-time homebuyers withdraw up to $25,000 each (or $50,000 for a couple) tax-free from their RRSPs. You’ll need to pay those funds back, of course, on a repayment plan, but this strategy can make a substantial difference in the affordability of home ownership!
While your funds are tied up for those 90 days, we can get you an interest rate hold. Let’s have a conversation about the HBP and determine if this strategy can work for you.
For more information on how to use this tool for the purchase of your first home please contact myself at kevinbaker@kwhometeam.ca or Tracy Bennett at Bennett Capitial tracy.bennett@bennettcapital.ca
January 28, 2013 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers | Tags: Bank of Canada, condo, down payment, federal home buyer program, first time home buyer, home buying, kevin baker, Kitchener waterloo, kwhometeam, lofts in kitchener, market update, Mortgage News, real estate, real estate investing, Remax, rrsp contribuitions, waterloo ontario | Leave a comment
Energy Efficient Home Insurance Rebate – Get 10% of your premium refunded! – Kitchener Homes and Condos For Sale.
Energy Efficient Home Insurance Rebate – Get 10% of your premium refunded!
Consumers can receive a 10% refund of their mortgage insurance premiums as well as their extended amortization surcharge if they their amortization is more than a 25 years.
Mortgage Insurance Premium Refund 25 years:
| $300,000 mortgage @ 95% LTV | Premium Payable* |
| Standard Premium (95% LTV = 2.75%) | $8,250 |
| Energy-Efficient Premium Refund (10%) | ($825) |
| Total Premium | $7,425 |
Mortgage Insurance Premium Refund 30 years:
| $300,000 mortgage @ 95% LTV | Premium Payable* |
| Standard Premium (95% LTV = 2.95%) | $8,850($600) surcharge refund |
| Energy-Efficient Premium Refund (10%) | ($1425) |
| Total Premium | $7,425 |
The following chart will give you an idea in Ontario for the rating required for the year you purchased. You will need to have the rating from the builder or qualfied energy advisor.
* Depending on the closing date of your purchase, the Natural Resources Canada (NRCan) Energy-Efficiency Rating required differs:
| For purchases with a closing date… | EnerGuide Rating Required |
| On or after January 1st, 2013 | 82 |
| From April 1st, 2010 to December 31st, 2012 | 80 |
| From July 27st, 2005 to March 31st, 2010 | 77 |
In order to make an application for a refund you will need to fill out one of the attached forms and send it to your insurer along with and EnerGuide report showing your house rating. The supporting documents cannot be older than five years or a new energy efficiency evaluation will be required. If you renovate your existing home to increase it’s EnerGuide rating by at least 5 points(to a minimum of 40) you can apply for the refund as well.
I have applied and received funds for those that fit the requirements when my clients have bought a house that meets the guidelines. Please contact me if you are looking to purchase an Energy Efficient Home in 2013 that is 82 or higher. At Bennett Capital, we will get you the best rate and apply for the refund for you at closing.
Information provided by Tracy Bennett of Bennett Capital. For More information please contact myself kevinbaker@kwhometeam.ca or Tracy at tracy.bennett@bennettcapital.ca January 25, 2013
January 28, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: energy audit, energy rebate, first time home buyer, full time realtor, green homes, home buying, Home energy audit, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, lofts in kitchener, real estate investing, Remax, waterloo ontario | 1 Comment
Kitchener Waterloo Real Estate Market Update for 2013 –
I listened to Craig Alexander, Chief Economist for TD Bank speak yesterday on where he see’s the Real Estate market going for 2013. Have a look at the video to hear my thoughts on what he had to say.
January 18, 2013 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: Bank of Canada, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, kwhometeam, kwrealestatelife, market update, Mortgage Rates, Remax, sales rep, waterloo ontario | Leave a comment
Hiring a Realtor and What To Look For – Kitchener Waterloo Remax Twin City Realty Sales Rep
With availability of information, mobile phones and websites it is even more important to hire a Realtor based on what they can do for you to get the home sold quickly, efficiently and for the most amount of money. Have a look at this video to hear my thoughts on what you should be looking for when interviewing your Realtor.
December 12, 2012 | Categories: Local Kitchener Waterloo, Sellers, Video Blogs | Tags: brokerage, commission, condo, facebook, first time home buyer, full time realtor, home value, kevin baker, Kitchener waterloo, kwhometeam, loft, lofts in kitchener, marketing, price, real estate, realtor, realty, Remax, sales rep, sales representative, twin city, waterloo ontario, westvale | Leave a comment
When is the Best Time to Sell? – Kitchener Waterloo Homes for sale
One of the questions I get asked a lot is….”is now a good time to sell my home? With Christmas and winter just around the corner the answer might be different than you think. Have a look at the video to hear my thoughts.
December 3, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: condo, condo buying, fall market, first time home buyer, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, lofts in kitchener, market update, real estate, real estate investing, Remax, spring market, summer market, waterloo ontario, westvale, when is the best time to sell, winter market | Leave a comment
Mortgage Plus Improvments and How It Works – Kitchener Waterloo Homes for sale
If you are in the market for a new home and are having trouble finding something that suits or have found something but it needs a bit of work and you may not have the extra money out-of-pocket, then you can get a mortgage plus improvements type product to help make that home a possibility. Have a look at the video to hear how the product works.
November 7, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: Bank of Canada, banking practices, condo, first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwhometeam, market update, Mortgage News, Mortgage Rates, real estate, real estate investing, realtor, realty, Remax, sales rep, twin city, waterloo ontario | 1 Comment
The Commission Free Way May Not Be The Best Way. – Kitchener Waterloo Real Estate
If you have been thinking of selling your home yourself here is a great video on one families experience and how they ended up using a Realtor to get the home Sold.
October 17, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: assessment, facebook, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, real estate, real estate investing, Remax, waterloo ontario, westvale | Leave a comment
Assessment Value vs Market Value – Kitchener Waterloo Homes for sale
The new assessments are out in the Kitchener Waterloo Region and i am getting the question is that what my house is worth? Have a look at the video to why assessment value is different from market value.
October 15, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Uncategorized, Video Blogs | Tags: assessment, condo, first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwhometeam, loft, market update, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
How Long Will My House Take to Sell? – Kitchener Waterloo homes for sale
How long will my house take to sell? That is one of the most asked questions I get from consumers. It depends on several variables. Have a look at the video to hear my thoughts on Kitchener Waterloo average days and why.
September 20, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, market update, Mortgage News, real estate, real estate investing, Remax, waterloo ontario, waterloo region school board | Leave a comment
August Stats are out and Kitchener Waterloo Home Prices still Strong! – Kevin Baker Remax Twin City
KITCHENER-WATERLOO HOMES SALES EASE IN AUGUST
KITCHENER-WATERLOO, ON (September 6, 2012) –– There were a total of 495 home sales through the
Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in August,
a decrease of 4.4 percent compared to the 518 homes sold in the same month last year.
On a year-to-date basis, residential home sales remain on par with last year – with a total of 4,492
sales recorded.
August’s residential sales included 322 detached homes (down 7.7 percent), 35 semi-detached (up
6.1 percent), 37 townhouses (up 32.1 percent), and 97 condominium units (down 4 percent).
The average sale price of all residential properties sold in Kitchener-Waterloo and area rose 7.3
percent in August to $314,623, up from $293,303 one year ago. Condominium units increased 9
percent to $231,654, up from $212,513 a year ago. Single detached homes sold for an average price
of $354,064, a 7.6 percent increase compared to a year ago.
“While sales were down in August, we saw fairly strong price gains last month, says Sara Hill, president
of the KWAR. “This was helped along by the fact that 3 residential properties sold for over 1 million
dollars in August, compared to no sales in that price range last August.”
Also putting pressure on August’s average residential sale price was the increase in the number of
homes that sold for more than $400,000. 96 homes were reported sold that came in over $400,000,
representing an increase of 37 percent compared to the 70 homes that sold above that mark in
August 2011.
Information taken from Kitchener Waterloo Real Estate Board and MLS.
September 7, 2012 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers, Uncategorized | Tags: August, first time home buyer, home buying, home value, inventory levels, kevin baker, kitchener, Kitchener waterloo, kwrealestatelife, loft, Mortgage News, real estate, real estate agent, real estate investing, Remax, sale price, waterloo ontario, waterloo region school board | Leave a comment
Pricing your Kitchener Waterloo Home or Condo Properly – Kevin Baker Remax Twin city
Coming into a fall market it is more important than ever to price your home properly get maximum dollar and so that it doesn’t become stale in the buying public eyes. Have a listen to hear my thougths as to some things to look for when setting a price for you next home sale.
August 23, 2012 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers, Video Blogs | Tags: first time home buyer, full time realtor, home buying, home prices, home value, house prices, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, market update, pricing your home, real estate, real estate investing, Remax, waterloo ontario | 1 Comment
New Mortgage Rules and how they affect you – Kitchener Waterloo Homes for sale
Last week the government mortgage rule changes came into effect. There were 2 major changes that are going to effect people and the amount that they will be able to borrow. Have a listen to the video to hear my thoughts.
July 16, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: assessment, Bank of Canada, banking practices, condo, condo buying, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, loft, market update, Mortgage News, Mortgage Rates, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
May Market Update for Waterloo Region – Kitchener Waterloo Homes for Sale
STEADY STREAM OF HOME SALES IN MAY
KITCHENER-WATERLOO, ON (June 5, 2012) –– Sales of residential properties via the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were steady last month, keeping in line with the previous 5 year average for May.
Members of the KWAR sold 650 residential properties in May, a decrease of 3.4 percent compared to May of last year. On a year-to-date basis this brings the total number of sales recorded through the MLS® System of the KWAR to 2,844 a 2.7 percent increase compared to 2011.
May’s sales included 440 detached homes (down 1.1%), 117 condominium units (down 10.7%), 50 semi-detached (up 16.7%) and 38 townhouses (up 26.7%).
The average sale price of all residential sales increased 0.5 percent to $312,219 compared with May 2011. Single detached homes sold for an average price of $353,368, which is on par with May of last year. The average price of condominium units sold in May was $206,063 a 2.9 percent decline compared to last year.
The dollar volume of all home sales in May was $202,942,505, down 2.9 percent from year-ago levels.
“Sales in May demonstrate continued strength in the Kitchener-Waterloo housing market”, says Sara Hill, President of KWAR. “What we saw last month is a steady stream of homes sales, combined with an excellent selection of listings on the market, which helped to moderate price gains.”
The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a local REALTOR®.
June 14, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, market update, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Market Value, Appraised Value and Assessed Value… What do they all mean? – Kitchener Homes for sale
The value of your home is different depending on who is looking at it. Have a look at the video I shot to explain the differences between the 3 very different types of values for your home.
April 27, 2012 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers, Video Blogs | Tags: assessment, banking practices, first time home buyer, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, lofts in kitchener, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Know Your Closing Costs and Planning For Them! – Kitchener Waterloo Homes for Sale
Closing Day is fast approaching and one of the most important things is to make sure you have planned for all the closing costs that come up when you are buying or selling a home. Have a look at the video I did to learn why this is a very important step in the process.
March 6, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: closing costs, condo, eastbridge, first time home buyer, full time realtor, home buying, home ownership, home value, kevin baker, kitchener, Kitchener waterloo, kwhometeam, loft, market update, Mortgage News, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Make Sure Your Read and Understand the Closing Paperwork – Kitchener Waterloo Homes For Sale
It is vitally important that you understand the paperwork that you are signing when meeting with your lawyer prior to closing. Click on the video link to hear why.
February 23, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: closing paperwork, first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, lawyers, loft, lofts in kitchener, market update, real estate, real estate investing, real estate lawyers, Remax, waterloo ontario | Leave a comment
Do a Final Walk Through Before Closing and Why its so Important – Kitchener Homes for sale
So Closing day is only days away, the packing is still going on, you have boxes filling every room in the house. Your agent calls and asks if you would like to do a final walk through of the home. Even though you are crazy busy it is still a necessary and important part of the process. Have a look at the video to why…
February 15, 2012 | Categories: Buyers, Local Kitchener Waterloo, Video Blogs | Tags: condo, eastbridge, first time home buyer, full time realtor, home buying, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, market update, real estate, real estate investing, Remax, waterloo ontario, westvale | Leave a comment
Do a Home Inspection on Every House You Buy – Kitchener Waterloo homes for sale
Please make sure that when you are doing your offer to purchase with your Realtor that you include a clause that allows you the right to do a home inspection. Have a look at the video to hear why this is in important part of any offer.
February 6, 2012 | Categories: Buyers, Local Kitchener Waterloo, Video Blogs | Tags: condo, first time home buyer, home buying, home inspection, home value, inventory levels, kevin baker, kitchener, kwrealestatelife, real estate, real estate investing, realty, Remax, twin city, waterloo, waterloo ontario | Leave a comment
Kitchener Waterloo Real Estate Market Prediction for 2012- Kevin Baker
Hey Everyone, I attended a CMCH housing forecast last week and then on Tuesday of this week I listened to Craig Alexander, Sr. V.P. and Chief Economist for TD Bank give his predictions on where the housing market is going for 2012. Have a listen and hear my brief synopsis on the info I gathered.
January 27, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: Bank of Canada, condo, facebook, first time home buyer, home buying, home value, inventory levels, kevin baker, kitchener, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, market update, Mortgage News, Prime rate, real estate investing, Remax, waterloo ontario, waterloo region | 2 Comments
Make Sure You Buy The Right House To Fit Your Needs – Kitchener Waterloo Real estate and homes for sale
January 20, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, market update, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Offer Price and Fair Market Value of a House – Kitchener Homes and Condos for sale
So you have found the right house…. now its offer time, but what price to offer. Here is where a Realtor can help. Knowing what fair market value of a home is extremely important in determining what to offer on the home of your dreams. You don’t want to overpay for something based on emotion. Watch the video to hear my thoughts on why this is an important consideration in your next home purchase.
January 10, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, lofts in kitchener, market update, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Go Train Comes to Waterloo Region – Kitchener Waterloo Real Estate
Great news for the commuters of Waterloo Region.
Today marks the start of Go Train service from Kitchener to Toronto. This give commuters another option when it comes to travelling to and from Toronto.
Initially, the service will see two trains leave the Kitchener station every weekday morning, while two trains will return from Union Station in the afternoon.
The first train leaves Kitchener at 5:52 a.m., stops in Guelph, then times remain the same between Georgetown and Union Station. The existing weekday westbound 5:45 p.m. train from Union will now get to Georgetown at 6:46 p.m., Guelph at 7:18 p.m. and Kitchener at 7:42 p.m.
December 19, 2011 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Uncategorized | Tags: first time home buyer, home buying, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, loft, lofts in kitchener, market update, real estate investing, toronto, transit, union station, waterloo ontario | Leave a comment
Mortgage Pre Approvals. Why they are a good idea! – Kitchener Waterloo Real Estate, Homes and condos online
Before you start your home buying search a great first step is to get a mortgage preapproval from your bank or mortgage broker. There are a few key reasons as to why. Have a look at this video to hear some helpful advice.
December 12, 2011 | Categories: Buyers, Local Kitchener Waterloo, Video Blogs | Tags: Bank of Canada, banking practices, condo, first time home buyer, full time realtor, home buying, home value, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, lofts, market update, Mortgage News, Mortgage Rates, real estate, real estate investing, Remax, waterloo ontario | Leave a comment
Inspectors, Realtors, Mortage Brokers, Lawyers… Putting together the right group – Kitchener Homes for sale
Part 2 in my series on what buyers should be aware of when looking for a new place. Make sure you put together a great group of professionals to help you with the process. Have a look at the video to hear my thoughts….
December 9, 2011 | Categories: Buyers, Local Kitchener Waterloo, Video Blogs | Tags: condo, first time home buyer, full time realtor, home buying, home inpspectors, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, lawyers, loft, market update, mortage brokers, real estate, real estate investing, Remax, teamwork | Leave a comment
KW Real Estate Life 