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Showing posts from May, 2016

Know the roles of both deposit and down payment when buying a home

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(NC) They both start with the letter 'd', and they both require a large sum of money to secure the purchase of a home. However, a 'deposit' and 'down payment' are very different. “A lot of my first-time home buying clients ask me what the difference between a deposit and down payment is,” says Ray Ferris, president of the Ontario Real Estate Association (OREA). “Simply put: a deposit is associated with your offer to purchase a home, while the down payment is associated with your mortgage. The deposit will go toward the down payment.” Here is more information to help you decide how much to contribute to each: Deposit – When you submit an offer, normally you are requested to include a deposit to demonstrate a serious intent to buy the property. This deposit will usually be in the form of a cheque, payable to the listing broker, who will place it in a trust account until the deal is completed or terminated. Your deposit provides the seller with some assurance that…

Add eye-catching design trends to outdoor spaces this summer

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(NC) Outdoor living continues to evolve, as Canadians are expanding their living spaces into the front and backyards at an increasing rate. Design enthusiasts are always looking to industry experts to discover what's new and hot in outdoor design. Here to share some of this year's latest outdoor design trends is Sharon Grech, a colour and design expert for Benjamin Moore. Bring indoor luxe outside: Glamourous, multi-functional and classic are all key traits to keep in mind when updating the interior of the home, and the same applies for outside. “Outdoor living spaces are an extension of the home,” says Grech. “Creating backyard living rooms with sectionals and coffee tables, and front yard grand entrances with stunning doors and accessories is the new norm. Install shutters, add more trim around windows or switch out the hardware on your front or back door for something more sophisticated. It's the little updates that have the biggest impact and will bring the flow from y…