PUNEET BHARDWAJ's blog

Whether you should sell your home before buying a new one depends on your specific financial and personal circumstances. There are advantages and disadvantages to both approaches, so it's important to carefully consider your situation and priorities before making a decision.

Advantages of Selling Before Buying:

Financial Security: Selling your current home before buying a new one can provide you with the financial security of knowing exactly how much money you have available to purchase your new home. This can help you avoid overextending yourself...

Median income plays a significant role in determining the type of house you can afford. It's a key factor in your overall financial picture when it comes to home buying. Here's how median income affects the type of house you can afford:

Ratio of Affordability: One common guideline used by lenders and financial advisors is the "28/36 rule." This means that your housing expenses (including mortgage, property taxes, insurance, and homeowners’ association fees) should not exceed 28% of your gross monthly income, and your total debt (including housing expenses and other debts like...

Preparing your home for a successful sale in the Canadian real estate market requires careful planning and attention to detail. Here are some essential tips to help you get your home ready for sale:

Deep Clean: A clean home is essential. Consider hiring professionals for a deep clean, including carpets and windows. Pay special attention to kitchens and bathrooms.

Repairs and Maintenance: Fix any visible issues or defects in your home, such as leaky faucets, cracked tiles, or peeling paint. Addressing these problems upfront will prevent potential buyers from being...

Mortgage Process: The mortgage application and approval process remain quite similar. Buyers still need to provide financial documentation, credit history, and go through a thorough underwriting process to secure a mortgage.

Home Search: While online listings and real estate websites have become more advanced, the fundamental process of searching for a home is still centered around finding suitable properties, attending open houses, and working with real estate agents.

Market Dynamics: The dynamics of real estate markets still revolve around supply and demand. Factors like...

Lowering your electricity consumption in Canadian households is not only beneficial for your wallet but also for the environment. Here are some tips to help you reduce your electricity bill:

Switch to LED Lighting: Replace incandescent bulbs with energy-efficient LED bulbs. LEDs use significantly less energy and last much longer.

Unplug Devices: Many devices continue to draw power even when turned off. Unplug chargers, appliances, and electronics when they're not in use, or use power strips to easily disconnect multiple devices at once.

Use Energy-Efficient...

When purchasing a pre-construction property, there are two important stages that buyers need to be aware of: interim occupancy and final closing. These stages are part of the process of transitioning from a construction phase to actually taking ownership of the property. Let me explain both terms:

Interim Occupancy: This is the stage when the construction of the building is completed, and the units are ready for occupancy. However, the entire project might not be fully completed yet. During this phase, buyers who have purchased units can move into their properties and start living...

A laneway home, also known as a coach house, carriage house, or granny flat, is a small, separate dwelling that is typically located in the rear yard of a primary residential property. Laneway homes are a type of accessory dwelling unit (ADU) that have gained popularity in cities with limited housing options, such as Vancouver, Toronto, and other urban areas in Canada. These homes are often built in existing urban laneways, alleys, or rear yards of larger properties.

Here are some key features and points about laneway homes:

Size and Design: Laneway homes are usually smaller than the...

It can be difficult to buy and sell a house at the same time, but with careful planning and understanding of the steps involved, it's certainly manageable. Here's what you need to know:

1. Timing and Coordination: Coordinating the sale of your current home with the purchase of a new one is crucial. Ideally, you want to have a clear timeline for both transactions. This can involve closely working with your real estate agent, mortgage lender, and any other professionals involved.

2. Financing: Unless you're buying the new home with cash, you'll likely need to secure a mortgage. Your...

Finding your dream home involves considering various factors, including your lifestyle, preferences, needs, and budget. Different home types offer unique advantages and suit different lifestyles. Here are some common home types to consider, along with the types of individuals or families they might be perfect for:

Single-Family Home: A detached single-family home offers privacy, outdoor space, and more control over your property. It's ideal for families with children, individuals who value privacy, and those who want a yard for gardening or outdoor activities.

Condominium (Condo): A...

Pre-construction homes, also known as off-plan properties, are properties that are purchased before they are built or completed. This means buyers make a commitment based on floor plans, designs, and sometimes virtual or model representations of the future property. As with any investment, there are pros and cons to consider when it comes to pre-construction homes. Here are some factors to weigh:

Pros of Pre-Construction Homes:

Lower price: Buying a pre-construction home often comes with a lower price compared to purchasing a fully completed property. Developers may offer...