Tag: realtor

Sun’s out summer playlist

Sun’s out summer playlist

Summer is here— and that means dock parties, BBQ’s and enjoying some loud bangers to set the mood!

My good friend, and coworker, Joe Fiorillo, loves EDM music, and he always enjoys getting new playlists that pump him up. So, last spring I attempted to create the perfect house playlist, just for him, to get him ready for summer. Joe’s quite picky when it comes to the music he listens to, “I like the songs with singing in it. Not a fan of the heavy dubstep stuff. Give me something that’s more upbeat with a simple melody and I am SOLD!” says Joe.

So this month, I have focused on revamping Joe’s playlist “JoJo’s House” and decided to share it so everyone can enjoy!

If I were to pick one song that gets me going every time, it would have to be Airborne by Michael Woods. I was first introduced to this song by my good friend, Kellen Daly, while pre-gaming before a Minnesota Vikings game and I was hooked ever since. Just hang in there for the second drop at the 4:00 mark, and try to tell me that you don’t want to jump up on your Hakasan bottle service booth and do a chicken dance…

Here’s to great music and an incredible summer!

 

Cheers!

Advertisements
Amortization: What’s that again?

Amortization: What’s that again?

Apparently we learn about this in applied math. I don’t remember that, and in high school I was more concerned with how I was going to pay for poutine at lunch than how long I’m going to pay off the imaginary hundreds of thousands of dollars I didn’t have.

Amortization is the time it takes you to pay off your mortgage — the most common, and the maximum length (with CMHC), is 25 years.

If you pay over a 20% down payment then you don’t need to go through CMHC and different lenders may give you a longer amortization period.

The benefit of longer amortization period is that your monthly payments will be lower. However, you will be paying A LOT more interest.

Ratehub.com has a great graphic that shows how much more interest you pay from a 25-year amortization to a 30-year amortization.

Screen Shot 2017-04-19 at 9.27.56 PM

$100,000 WOAH!

Basically, try and go for the shortest amortization period that you can afford. Check in with your bank, credit union or lender to see if you can increase monthly payments down the road, or put lump sum payments to pay off your mortgage faster without penalties.

If you have any questions about mortgages, home buying and selling, or anything at all email me at scott.kurz@prestonmyre.com or call me at 204-941-1771.

 

 

The hidden costs in buying a home

The hidden costs in buying a home

So you have your 5% down and you are ready to start looking for a home.

If only it was that simple.

Let’s use $300,000 as the cost of the hypothetical house you are going to buy — which is the average cost of a home in Winnipeg. If you move just outside the city you can get a lot more for your dollar, but that’s for another post.

So, say you find a home and you have your $15,000 down payment. You would think that your mortgage would go down to $285,000, right?

Nope.

With 5% down on a $300,000 home your mortgage only goes down to $296, 400.

Umm only $3,600? Where did my other $11,400 go?

CMHC

That’s your mortgage insurance that you need to pay unless you have 20% down.

Ok, so whatever, I have to make a few extra payments. I can live with that.

But wait!

Lawyer fees

Did you know you need a lawyer to do your paperwork and do lawyer things so you can own your home?

That costs about $1,000.

Land transfer tax

Then your lawyer is going to tell you that you need to pay a land transfer tax, which is about $3,720 for a $300,000 home in Winnipeg.

Already you are at:

$15,000 +

$1,000 +

$3,720 =

$19,720

And you only have taken $3,600 off of your mortgage, and you have no furniture, or kitchen utensils and you have to use cardboard boxes as your plate, chair, table and bed.

(We are assuming a 5-year fixed mortgage rate with a 25-year amortization period here. If you don’t know what that means then I will cover it in the next few blog posts — stay tuned!)

And you think this sucks? There are costs to owning a home that you don’t even realize are a thing.

These costs vary depending on the area of live in, what temperature you like your home, how efficient your windows and heating system are, and how much water you use etc..

But be prepared to pay house insurance (different than mortgage insurance), property taxes, hydro and water bills. Along with your normal grocery bills, cell phone bill, car insurance, Netflix, and whatever other bills you pay.

There is an incredible site called ratehub where you can type in the asking price of a home and select your bank, down payment, amortization period and all that stuff and it will tell you how much your mortgage will be, your land transfer tax, your mortgage payments and all that fun stuff. I highly suggest you check it out if you are thinking about buying a home.

Don’t let all of this scare you. Buying a home is a great investment for your future, but it’s a big commitment. When you are ready, call someone you trust to help walk you through it.

 

Daily Rotation: Songs for the Soul

Daily Rotation: Songs for the Soul

Part of the reason I started a blog is to let people like you, reading this post, get to know me.

It’s no secret that realtors work on commission, so with that comes the perception that we will do anything to make a sale — even if it’s not in your best interest. Buying or selling a home can be difficult, and you want to choose someone to help you that you trust. Through a blog, I can give you a little glimpse into my life and share with you some tips I have learned throughout my career to help homebuyers and homeowners. It’s a small thing, but I hope to build just a little bit of trust with you this way — remember, realtors also work through referrals, so I want to give you the best service I possibly can. That way I can help support my super-sassy, strong and independent almost-three-year-old and my so-super-close-to-graduated partner.

My absolute favourite pass time is music. Listening, playing or attending live shows — I love it! Each month I make a playlist called the Daily Rotation. The purpose of this playlist is to try and find the “perfect song.” I know it’s extremely subjective and seems a bit ridiculous, but trying to do the impossible is half the fun — and worst-case scenario, I get to find some pretty talented artists along the way!

This is us last weekend at a live show at The Forks. Okay Mann was incredible. (Photos by the talented Nate Forest.)

So, each month I will post about one song that was one of my favs and let you know why.

This week’s selection:

Sanctify by St. Paul & The Broken Bones.

I love these guys! Think of them as having the energy of Sam & Dave meets the soothing side of Otis Redding — pure soul. And when it comes to soul music, let’s face it, those horns get me every time.

Cue up those horns, at (1:47), and drop me into complete utter bliss with this nothing short of perfect course.

[Chorus:]

Is that river wide, is that river deep?

Let me sanctify, let me sanctify you, baby

Sit back, relax and enjoy this incredible ballad.

The Daily Rotation: February 2017

I love finding new music. If you have something you want to share, comment below, or even send me a direct message. I would love to hear from you!