Real Estate Information

So I'm thinking of replacing my kitchen countertops... Let me give you some quick background info on my situation, and the resulting ideas and thoughts I want to share today. 

I live in a 3 yr old 2 storey, single detached home, that I bought from a builder. I spent some money on upgrades at that point throughout the home, but the kitchen was left fairly average and untouched. There are oak cabinets with some modern handles, and the standard acrylic countertops. The change I did make was to add a raised breakfast bar, which I quite like and enjoy eating at daily. The colour, however, of the countertop is one I am not very fond of. Which brings me to today's topic... I want to change my kichen countertops. New countertops will undoubtedly add value to the home - granted I get some higher end ones. Some of the homes in this price range will have the granite, or quartz, which certainly gives the home a "WOW" feel, especially since my kitchen is quite large and open.

I've gotten a few quotes, and debaiting on the best type of material to use, for my budget, but before I get off topic, and before I bore you to death let me get to the point. I was going to wait a few years, to make this change; probably just before I decide to sell the house, because it would be a great feature and investment to have, when selling the home.... but the more I thought about it, the more I realized, why would I not do it NOW, enjoy the nicer countertops, and still have them (the countertops) as a great feature down the road when I want to sell it. Now THAT'S a great investment!!!

Many times, home owners DON'T do upgrades throughout the home, because they are "happy" with what they have but would gladly change, repair, or replace things when it comes time to sell. This could (and does) include, a deck/patio, bathrooms (tub, sink, etc), outdated light fixtures, painting, rec.room (re-carpeting, etc), or replacing old carpet with laminate or hardwood.... the list goes on.

If you have questions about how much $ to spend on a certain item, because you're wondering the sort of return you'll get when/if you sell the house, feel free to call us. We know what buyers are looking for (and are specific to type/size of house, and the average price of homes of your type) and also what they expect, so we can tell you to spend that $15,000 on a new kitchen, or NOT to spend the $10,000 on new hardwood flooring, in a condo townhouse. 

Flav Onsen
"The Onsen Team"
Sales Rep. 

This is a question I've been hearing more and more from clients in the last while. So I went to the source (respected and trusted Mortgage expert), to find out what they would recommend.

"The most asked question in today's mortgage market. Should I go fixed or variable? If you are unsure and need the security that a fixed mortgage will bring then I say, do both. Split your mortgage, so that 50% is fixed to give you the security you need and 50% is variable which, at the time of writing, is a much lower interest rate. We understand that it is preferable to diversify your investments, so by splitting your mortgage, you are also diversifying your debts.

Here is an example:

• Mortgage Limit of $200,000.
• A 5 year fixed mortgage of $100,000 at a rate of 5.69%= monthly payment of $522/month.  
• A 5 year variable mortgage $100,000 at a rate of 4.50%= monthly payment of $447/month
• This gives you an average interest rate of 5.10%.

This type of mortgage is a Scotia Total Equity Plan mortgage (STEP) and has many other attractive features.

Hildegard O'Connell,
AMP Mortgage Development Manager
Phone: 519-574-2290
Fax: 519-749-0574
E-mail: hildegard.oconnell@scotiabank.com
Web: mdm.scotiabank.com/hoconnell
My commitment is to provide the best mortgage solution for you. The highest compliment my Clients make is the referral of their Family, Friends, and Business Associates. Thank you for your trust.