Wednesday, June 1, 2011

Establishing Credit For Your First Downtown Ottawa Home Purchase

If you are a young adult or couple and are thinking about purchasing your first Downtown Ottawa home you'll have to take a look at your credit first to make sure that you can qualify for a mortgage. Your credit history is the first thing that a lender will consider when qualifying you for a mortgage. If your credit file looks bad, you won't be considered for a mortgage even if you have a secure job and enough money for a down payment. A good credit history is your best friend when it comes time to purchase your first Downtown Ottawa home.

Establishing credit

One of the easiest ways to establish credit is to apply for a credit card. If you don't yet have one, fill out an application for one right away. Even if you don't believe in using credit cards for your shopping, they are the fastest way to establish a good credit history. If you already have a credit card and haven't been using it, you should be.

You don't have to make incredibly large purchases and run up a huge debt on your credit card in order to build up your credit rating. Just make a couple of small purchases and make sure that you pay off your card in time. Even if you only buy something that is worth $20 once a month, the fact that you take responsibility and make your payments on time shows that you are able to handle credit wisely.

You can take a look around for credit cards that do not charge an annual fee. This means that it will not cost you anything to use your card at all since you do not have to pay interest on it if you pay off the balance in time.

Take out a small loan

Another way to establish credit is by taking out a small loan at your local Downtown Ottawa bank. A small $1000 or $2000 loan can be taken out and repaid in a short period of time. You don't even need to spend the money that you borrow if you don't want to. Simply set it aside to pay back the loan to show that you are a responsible borrower.

The sooner you start establishing a good reputation handling credit the better off you'll be once you are ready to ask for mortgage. Any lender is going to pull a record of your credit file to determine if you are a high risk or whether you are a good candidate for a home loan. If you are thinking about purchasing your first Downtown Ottawa home in the near future, start establishing your credit immediately.

Dogs And Downtown Ottawa Condos- Sometimes They Mix And Sometimes They Don't

If you are thinking about buying an Downtown Ottawa condo and currently own a dog there are some things you are going to have to look into first. Some condominiums allow dogs and some don't and you are going to have to find a condo that welcomes dogs with open arms to protect yourself in the future.

You see, while some condos say that they will accept dogs, some really don't welcome these animals and in some cases there may be things going on behind the scenes to change the dog policy.

An uncontrolled dog can really wreck havoc on a condominium building. If an elevator is carpeted it doesn't take long for stains to appear from dogs that can't wait to get to the bottom and head outside. If the elevator is floored, small puddles can appear out of nowhere and be left unhandled by inconsiderate dog owners.

Make sure that the dog policy in the Downtown Ottawa condo you are looking at is supported by most of the condo dwellers. A good way to find out about this is to ask how many owners have a dog. Dog owners will support a dog policy.

You do not want to move into in Downtown Ottawa condo where dogs are allowed in but are frowned upon. You want to be welcomed into the new building as a dog owner.

The best thing you can do is find a building that is dog friendly and introduce your dog to your neighbors as soon as you move in. You can let them know that your dog is safe and introduce yourself as a responsible dog owner that will do everything possible to keep the interior of the building free of any doggy messes and will take full responsibility of your pooch outside as well.

Unless you are prepared to have to give up your dog at some point, you'll need to make sure that the policy to allow dogs into the Downtown Ottawa condo building is strong and will probably remain in effect for many years. This is the best way to avoid a problem in the future if you are committed to your loyal canine companion and don't want to have to move out of the condo later on.

Choose The Overbrook Neighborhood - Then The House

One common mistake that a lot of people make is to look for a home without first narrowing down a few Overbrook neighborhoods first. This can be a grave mistake because falling in love with a home in the wrong neighborhood is going to lead to heartache if you need to pass it up. Find some neighborhoods you'd like to live in before searching for a house and save yourself a lot of wasted time and energy.

How to find the right neighborhood

Your first contact should be with a real estate agent. An agent knows Overbrook like the back of his hands and can make some helpful suggestions. He can let you know which areas of Overbrook are best to be avoided, which ones are out of your price range and the ones that are right for your present lifestyle.

Seniors areas

There are some parts of Overbrook that are more geared towards seniors. There may be senior condo units in the neighborhood and special community centers there for seniors. Your Overbrook real estate agent may also tell you that there are a lot of seniors inhabiting the homes in the area. If you are a senior and want to be near facilities that are geared towards people in their golden years, let your agent know.


If you are single and are not yet ready to be in a family-oriented community talk to your Overbrook agent. There are a lot of areas in Overbrook that have a large population of singles or married partners without children.


There are many family neighborhoods in the Overbrook area. Your agent can direct you to the best areas based on what you are looking for in the community and your price range.

When you are deciding on a neighborhood, drive around a few of the areas that have been recommended by your Overbrook real estate agent and get a feel for them yourself. You'll know when you have found a good neighborhood because it will feel right and you can envision yourself living there.

Best Findlay Creek Village Neighborhoods For Families With Children

Do you have children?

If you are currently enjoying the family type of life you'll be looking for a specific type of Findlay Creek Village neighborhood. There are specific neighborhoods that are more suitable for families than others and it is important that you target these areas when you are performing a home search.

You'll want a school nearby that has an excellent reputation. You'll want a community center with programs for children, neighborhood parks and a community family spirit.

Your main concern, however, when you are looking for Findlay Creek Village real estate when you have a child is safety. In the United States there is a registry for sex offenders that can be accessed. This should be done first to make sure that there are no sex-offenders in the immediate area.

In Canada, there is no such registry with open access, but you can still find out if there are any halfway houses in the neighborhood you are interested in. These houses are not lit up with a big sign announcing that criminals that have just been released from jail are currently residing there. They are unnoticed buildings that look just like a part of the community.

Family spirit

If you move into a neighborhood that is full of other families you will be able to feel the community spirit that is alive and child-oriented.

Children will be playing in their yards, you may see youngsters riding up and down the sidewalks on their bicycles and parents will be gathered in a friendly group discussing the latest neighborhood news. This is the type of atmosphere you should be looking for when shopping for a Findlay Creek Village home for you and your family.

Your Findlay Creek Village real estate agent has more details about community safety and the family oriented parts of Findlay Creek Village. Don't be afraid to ask about these very important subjects before confirming your choice of neighborhood.

Accepting A Lower Offer For Sandy Hill Real Estate - When A Lower Offer Might Be Considered

If you have an a home on the Sandy Hill real estate market you can expect to receive some offers that are lower than what you are asking. If you are wondering whether you should consider these offers you should first look at how long the property has been listed and how well the Sandy Hill market is doing.

How long it has been listed

While you may be thinking that your home has been on the Sandy Hill real estate market for a long time, you should first find out how long an average home in Sandy Hill stays on the market. This will give you a better idea of the time needed for most homes to sell. If your home has been listed for 80 days, and the average home sells in 110 days, you'll know that you are still well below the average and may not want to take a lower price yet.

Your Sandy Hill real estate agent can let you know how long it takes on average to sell a home in the area. There may be different averages for the different communities around Sandy Hill as well.

How the Sandy Hill market is doing

Find out what the market condition is in Sandy Hill and then learn how the market is doing in your part of town. Housing trends are constantly changing and will affect how fast your home will sell. Again, your real estate agent will be able to let you know the market conditions and what you can realistically expect.

When you need a fast sale

Another factor you'll have to consider when you are presented with an offer that is less than the asking price is how desperate you are to sell. If you aren't in a hurry, you can afford to wait it out until you receive a better offer. If you need to sell quickly, however, and want to avoid paying a double mortgage because you have already purchased another house, you may want to consider accepting a lower offer as long as it is reasonable.

It is always a good idea to work out the lowest price you would possibly accept before any offers are put in. This gives you more stability since you will already have a starting point to work with. You can talk to your Sandy Hill real estate agent to work out a price that you feel comfortable setting as a minimum.

A Basic Guide To Investing In Sandy Hill Properties

If you have been thinking about getting your feet wet by investing in Sandy Hill properties there are a few basic things you should know first. These suggestions will help you get a general idea of what you should be looking for when you are interested in Sandy Hill investment properties.

1. Look for properties with high resale values in Sandy Hill

Some of the Sandy Hill investment properties that are available look like they are a good deal until they are assessed for their resale value. If you are planning on buying a Sandy Hill property in order to resell it later, the resale value is one of the most important things to keep in mind. It does not matter if you get a good deal on a property if you are not going to be able to sell it easily later on.

2. Look at the market in the neighborhood

It is not important what the market is in Sandy Hill if the neighborhood you are purchasing your investment property in does not have good statistics for property sales. A city can be doing well for property sales while one neighborhood could be experiencing difficulties for one reason or another. Be sure to check on the market of the neighborhood before closing a deal.

3. Emotional purchases

You must never allow your emotions to become a part of a Sandy Hill real estate investment. You may like the look of the building because it reminds you of a pleasant experience you had in your childhood, for instance, but this does not relate to profit. Keep your emotions separate from the business deal and base your decisions upon statistics and trends only.

4. Find the right location

You should treat the purchase of your Sandy Hill investment property as you would the purchase of your own personal home. Tenants are going to be looking for similar things that you would be wanting in a neighborhood where you live. Try to think as one of your future tenants would and purchase an investment property in a great location in Sandy Hill.

These are the basic rules you should be following when you are starting to dabble in Sandy Hill investment properties. To find out more about picking the proper location and market in the Sandy Hill area, don't hesitate to give me a call.