Homeownership while it has been an individualistic goal to so many, but rarely do we understand the underlying and far-reaching benefits of homeownership beyond the homeowner.

No doubt that one of the important benefits of homeownership is financial—and one that so many are aware of. What we tend to simply forget are the non-financial gains of owning a house, covering health, education, and societal or communal benefits.

Family + Child Outcomes (Security. Self-esteem. Confidence)

Benefits of homeownership associated with child outcomes are both behavioral and academic. It includes improved self-esteem and an increase in children's academic performance. The stability and security, which homeownership offers, contribute to better home and learning environment, and ultimately better educational outcomes.

Going back to financial benefits, homeownership dividend extends across generations—not just short-term.

Health Outcomes (Health. Stability. Safety)

Gaining the ability to retain financial independence through home equity and greater ability to retain care at home, homeowners are less likely and less willing to shift into long-term care.

There is direct relation of health with homeownership and housing in general. Health through homeownership comes primarily from a combination of residential stability, quality and safety, and financial security. And these benefits extend to neighborhoods and communities.

Civic Outcomes (Connectivity. Roots. Community.)

At a time when a significant number of Canadians having reported feeling increased isolation and loneliness, homeownership is one way of maintaining strong and stable communities.

Homeowners, by virtue of their longer tenure and more stable financial situation, are more inclined to invest into and participate in their neighborhoods, which is a positive civic outcome spawn from the rootedness of homeowners.

Homeownership, with its financial benefits impacting all income levels, also showed that it is key to reducing inequality across the country, which is why it is direly important that public policy and the federal government should continue to support homeownership as part of its overall housing agenda.

Badly needed—that’s how experts define the housing platforms that are surfacing on the coming elections, and every Canadian voter must expect a resounding message from major federal parties during the election campaign—particularly on how housing will become more affordable.

Why the high cost you may ask

Consider back a decade ago, building cost for a single-family home would be around $100/square foot, and compare that with today’s similar build which costs roughly $325-$400/square foot. That is a jump in price of more than 300% in just a couple of years.

Add to that the wage inflation caused by the shortage of quality manpower to build a home. Let’s take for example an electrician who charged $50/hour way back a couple of years ago, and compare that with an electrician’s current rate at $100/hour. These additional costs add up to the affordability or non-affordability of a home.

Platforms and federal elections

Those are the affordability struggles to buy a house. Indeed, we all deserve to have a home. After all, it’s one of the basic needs, and for it to incur affordability issues is one of the great debates in government policy and political platforms. But what do we know about these housing platforms so far? And, the bigger question is, with all these housing platforms, how sure are we that the upcoming federal election will improve housing affordability?
We’ve been through several elections, with several policies made on housing affordability, still things are a lot less bright. Taking a quick look at the housing platforms made by the different parties—Canadians deserve affordable place to live in, so they plan to build more affordable houses, ban foreign investors, create seven to 10 and up to 30 year mortgages, ensure savings for first time home buyers, increase tax payable on flipped properties, et cetera. It’s quite interesting to see when and how will all these be implemented.

You see, governments cannot just do this or that and implement this or that, only to lose the balance between housing affordability and other governmental real estate friendly mandates (such as maintaining low interest rates, COVID funding, setting millions of immigrants, and so on).

House pricing will continue to rise, and people will still continue to buy houses no matter what. But perhaps there might be some new programs that will help with housing affordability. Let’s wait and see.

Every Canadian knows that the real estate prices in Canada have increased very quickly.

But do you know how fast? To get a clearer picture of how fast home prices have gone up in Canada, we have to compare it with the US home prices. Going back to the Great Recession, data have shown that while US real estate prices plunged during those times, Canadian home prices maintained its accelerated increase. In fact, Canada even filled the market with policies that are designed to increase the amount of debt a household can get. As a result, Canadian home prices experienced a leap that is (a whopping) 29 times faster than the US home prices growth. A staggering 88% increase in Canadian home prices since 2005, meant prices were almost double after 15 years coming into 2020. Contrast that with the US home prices which increased at only 2.9% over the same period, thus you get the increase in Canadian home prices that is 29 times faster than the US.

This accelerated increase in Canadian real estate prices is still happening even during this slow down of the global economy due to the pandemic. Prices of real estate in Q1 2020 have gone up at 2.4% from the previous quarter. And comparing it to last year, prices have gone up at 3.4% (after adjusted for inflation). The US home prices in the meantime had a much slower rise in the same quarter, although it still saw about the same growth. In Q1 2020, US home prices grew 0.5% from the previous quarter, and 3.3% increase when compared to last year, which is the slowest annual growth rate for US real estate prices since 2013. This goes to show that the growth in Canadian home prices is accelerating, while the US is losing speed.

Everyone would say owning a house is a very expensive choice, but we still want to have a place to call our own.

In Canada, they say middle-income earners cannot afford to have a house, and even high-income earners are struggling to afford a simple house in high cost living areas. But Canadians still want to own a home. I’m not saying it’s a right or wrong decision, it’s totally understandable why we would choose to have a place to call our own rather than renting and having a landlord. But let’s put in mind that owning a home could impact our financial stability. Say, it’s kind of normal these days to have high levels of debt, still, it is best to consider our budget so that we will not be burdened by our choice.

If you’re one who is eager to find a house or dreaming of having one someday, let me help you understand how that is actually possible to achieve. Homebuying is a big decision that needs the advice from a professional. Our goal as a real estate agent is to assist people in the selling and buying of their properties. We help ease the buying and selling or renting process—from providing guidance to conducting research, to learning the trend of the real estate market to knowing every little detail and all the processes that comes along in home selling and purchase. Here’s a snippet of what we can do:

- Ask anything about home buying and we give you the answer.

- Provide you with listings according to your needs and budget. For example, we can give you the foreclosure listings in Calgary or homes for sale in Calgary under 300,000.

- Help you with scheduling time for touring the properties that you’re interested in.

- Conduct property analysis to help you determine the right offer.

- Help you with price negotiations. Top real estate agents mastered this skill.

- Refer other real estate professionals like real estate attorneys and inspectors to help you expedite the closing process.

While it’s true that anyone can shop for a house, having a professional makes a big difference. Being experts in this field, we have a strong understanding of the laws, rules, and regulations involved in home buying and selling transactions. And in tough times like this, we can help you get the most out of your income and explore options you probably wouldn’t have thought of.

If you’re getting ready to sell a house, you might be weighing the pros and cons of hiring a real estate agent.

While it sounds tempting to avoid a realtor and save on “commissions”—that is to say a savings of roughly 5 to 6 percent (the standard real estate agent’s commission)—why don’t we go down the list of reasons why a realtor will save you in your house-selling endeavor.

You will not be taken seriously by your buyer’s agent.

Most often than not, you’re last on a buyer’s agent’s list and even if his client will insist on seeing your home, he might discourage since he is not guaranteed a commission, plus it’s too risky to transact with someone who is not represented by a professional.

You might be exposed to legal risks.

Selling a house is a complex transaction. It requires skill and knowledge of the whole buying and selling process. It involves a lot of form-filling and stuff such as disclosing a defect, hazards, and nuisances. Buyers can sue you for fraud or negligence or breach of contract if you don’t do it the right way. Top real estate agents can very well guide you through a smooth and risk-free process.

You might overprice and underprice your house.

As a matter of fact, a lot of homeowners don’t really have an idea on how much their house would sell. There is a tendency that you overprice your house simply because you are attached to it and have been accustomed with its flaws. Or one day you will suddenly drop your price because you got tired of the process and wanted to just close the deal or your potential buyer said he is now looking in the foreclosed properties in Calgary, even though, for example, you have the best panorama hills real estate in Calgary. Real estate agents know their market very well and they can help you determine the correct price of your house depending on its condition, location, and style.

You can’t keep your emotions aside.

Selling your home entails a roller coaster of emotions. Buyers can say things that can offend you. You will also have to deal with rejections, and you may get frustrated along the way. But top real estate agents are trained for these kinds of situations. They can handle those negative remarks and can even turn them into constructive criticisms.

You don’t have enough time and connections.

Having enough time means working on selling your house full-time and having a wide network of potential buyers. Believe it or not, it’s always better to have a professional who can dedicate time and effort for the entire selling process and who has connection to a large HUGE network so you can get broader exposure for your property. There was a buyer who acquired a relatively cheap house in Calgary because the seller neither had enough time nor sufficient knowledge on where to find potential buyers.

You will waste your time and energy dealing with unqualified buyers.

Everyone knows how big of a deal it is to cancel meetings or excuse yourself from work just to attend to buyers and make your house beautiful and perfect like a showroom. But you have no choice, so you do it anyway only to lose a potential client or waste your time because the buyer didn’t have the financial ability to buy your house. Realtors can help you limit these hassles as they are experts when it comes to evaluating unqualified buyers. They know the right questions to ask to find out if a certain buyer is just someone who wants to view your house or someone who is only curious about it. They also know the right questions to ask to lead a qualified buyer into purchase. And take note, buyers are uncomfortable to have the seller present during a house tour, so there’s a greater chance you’re losing a potential buyer if you do the touring yourself.

You are not trained to negotiate “properly”.

Real estate negotiation requires a specialized experience in selling a home. So, even if you have sales experience in another field, selling a house is still an entirely different thing. After all, you will be negotiating on a big investment which entails a big expense and that’s a lot of paperwork, and as I said earlier, emotions. To know the correct way to negotiate, you need trainings on home inspections and mortgages, and all the financial obligations that you need to be mindful about. Also, selling your home is an emotional process, so you need to learn how to be rational and avoid making rush decisions that you will later regret about. If you are not confident at negotiating, hiring a real estate agent is simply the answer.

Selling a house requires experience and expertise. It’s not just a simple transaction. You could end up with some legal and financial drawbacks if not properly done. While there could be a few property owners who can sell their houses by themselves, the benefits of having a realtor by your side still outweighs all the risks.  A good real estate agent is worth it and hiring one could be your best decision.

When it comes to buying or selling a house, the most logical thing to do is to find a realtor.

Why? To put it simply, realtors or real estate agents are experts in the real estate market. They are trained, skilled, and have the experience when it comes to the entire home buying and selling process, from home research to negotiating with sellers and buyers, to closing a good deal.

And you don’t even have to pay them for doing all that. That’s how realtors are especially important for a buyer or a seller. You may be thinking you are paying higher because of their “commissions” but that’s not true. They are there to save you time, stress, frustrations, and yes—money! If you’re curious about that, you might want to take a look at these simple, straightforward proofs your realtor is actually saving you money:

- Realtors know their market. And with that, they know what you should be paying for a home. They know if you are getting your money’s worth based on a certain location and house conditions. Give them your budget and they will definitely know if the houses for sale in Auburn Bay or the average house price in Calgary suits you.

- They can score great deals. Let them do the home research and you’ll be surprised at how knowledgeable they are when it comes to house hunting. They will know the quality of the schools in the area you are considering, and whether it’s a place to easily shop and work in, and they can even get you the crime rates and demographics of the place.

Throw them a question about interest rates, or even home listings that are not yet public, and they can readily give you an answer. If you’re one who is eyeing a home somewhere, say you might be interested in the luxury homes in Calgary, chances are they are updated in Calgary real estate news and you’ll end up being one of the first buyers to getting a “good” deal on the home. That’s how they can find you great deals.

- Negotiation is their game. Many times, a realtor may be able to get you a lower price for a home, and you get to save thousands of dollars. Appraisals, biddings, waiving of fees, name it, realtors are experts when it comes to getting you score a good deal and saving some cash without compromising the standards for your dream home.

Appraisals, biddings, waiving of fees, name it. Realtors are experts when it comes to getting you score a good deal and will do their best to cut some cost and save you some cash without compromising the standards for your dream home.

If you think hiring a realtor will cost you loads, you better think twice. Everyone knows how tedious the entire home buying process is, and you’ll know the difference when you let a real estate agent help you get through all of it. The secret is to find a realtor that you can comfortably work with, who is patient in answering your unending queries, and who will walk you through each step of your home buying process until you find the home that you’ve been praying for.