Looking for a home can be an exciting and exhilarating experience.  Before you start your search, you first need to figure out where you want to live and what your housing needs will be both now and in the future.  Sometimes people are unsure of what they are looking, but they still have a basic “wish list” of criteria and know what features they don’t like in a home.  As we work through the details, it becomes more clear as to which home will suit their lifestyle best.  Then the process begins of looking for that Perfect Home.

To help you find the home that’s right for you, Canada Mortgage and Housing Corporation (CMHC) suggests you ask yourself the following questions:

• How large a home do you need?
• Do you need several bedrooms, more than one bathroom, a home office or a two-car garage?
• Are you planning on making any lifestyle changes in the near future, for example, are you planning on having children?
• Do you have teenagers who will be moving away soon? Or are you close to retirement and looking to downsize to a smaller home?
• Are there any special features you’d like your home to have, such as air conditioning, a swimming pool or a spare room for a hobby?
• What kind of neighbourhood do you want to live in? Remember to take into account such features as how easy it will be to commute to work, whether your children will have a school close by, and how close you will be to family, friends and safe recreational areas and facilities.
• Would you prefer to live in a new home or a resale? New homes offer such advantages as more personalized choices, up-to-date appliances and finishings, and often lower maintenance costs.  But resale homes can provide easier access to more established services and mature landscaping, and may save you from having to pay GST/HST on your purchase.
• What type of home would you feel most comfortable living in? The choices available on the market today range from single-family detached houses, semi-detached and duplexes to townhouses, modular homes and condominiums.

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For excerpts from this article and other great home buying resources, visit www.cmhc.ca, search “Homebuying Step-by-Step” or call Canada Mortgage and Housing Corporation (CMHC) at 1-800-668-2642.

When it comes to choosing your next home, perhaps the biggest question is deciding where you want to live.  Whether it’s old or new, urban or suburban, in a big city or a small town, the neighbourhood you live in will affect your quality of life, affordability and the environment for years to come.

To help you select your next neighbourhood, start by looking for some of the following features:

• A village atmosphere – Does it have safe, pleasant streets for walking, meeting the neighbours, or where your children can play safely?
• Value for the money – Consider long-term expenses, such as the energy savings that a smaller house with shared walls, like a townhouse, can bring, or living where you only need one car, or none at all.
• A safe, active neighbourhood – A mix of homes, shops and offices means that the neighbourhood is active throughout the day and evening, allowing people to look out for each other.  This is also a neighbourhood where cars move slowly.
• A place where daily trips can be made on foot, bike or bus – Living where work, schools, shopping and recreation are close enough to walk, ride your bike or take the bus to can mean spending less time in traffic, not to mention being good for your health and pocketbook! Less car use is also better for air quality and reduces greenhouse gas emissions.
• A neighbourhood that preserves the countryside – When land in the neighbourhood is used efficiently, rural and natural areas outside it are preserved and costs to preserve its services are lower.
• A neighbourhood you can stay in, year after year – A neighbourhood with a wide variety of homes lets you stay close to where you’ve put down roots, even as your age, income, family and housing needs change.

To determine whether your next neighbourhood meets these and other criteria, try asking yourself a few simple questions, including:

• Can I use my car less or not at all?
• Can I save money in the long term by living here?
• Could I stay in the neighbourhood if my housing needs change?
• Is it easy to get to know my neighbours and local shopkeepers?
• Is it a safe, pleasant place to walk?
• Have natural areas in the neighbourhood been preserved?

For this article and other great home buying resources, visit www.cmhc.ca, search “Homebuying Step-by-Step” or call Canada Mortgage and Housing Corporation (CMHC) at 1-800-668-2642.

As a real estate salesperson, I meet people everyday who don’t quite understand what it means to work with a Realtor®. The real estate industry has advanced in many ways over the past few years.  As a consumer, it is important to understand the many benefits of hiring a Realtor® to work with you throughout the entire home buying and selling process.  The following are terms and definitions as described by the Ontario Real Estate Association (OREA).  I trust that this will answer any questions you may have about the real estate industry.  Feel free to forward me any other questions you may have.

Honesty and Integrity
Most real estate professionals in our province are members of the Ontario Real Estate Association (OREA) and only members of OREA can call themselves REALTORS®.  When you work with a REALTOR®, you can expect strict adherence to provincial laws, which includes a Code of Ethics.  That code assures you will receive the highest level of service, honesty and integrity.

The Agency Relationship
When working with a REALTOR®, it is important to understand who the REALTOR® works for.  To whom is the REALTOR® legally obligated?

REALTORS® are governed by the legal concept of “agency.” An agent is legally obligated to look after the best interests of the person he or she represents.  The agent must be loyal to that person.  A real estate brokerage may be your agent – if you have clearly established an agency relationship with that REALTOR® with a representation agreement.  But often, you may assume such an obligation exists when it does not.  REALTORS® believe it is important that the people they work with understand when an agency relationship exists and when it does not – and understand what it means.

In real estate, there are different possible forms of agency relationship:

1. Seller Representation
When a real estate brokerage represents a seller, it must do what is best for the seller of a property.  A written contract, called a listing agreement, creates an agency relationship between the seller and the brokerage and establishes seller representation.  It also explains services the brokerage will provide, establishes a fee arrangement for the REALTOR®’s services and specifies what obligations a seller may have.  A seller’s agent must tell the seller anything known about a buyer.  For instance, if a seller’s agent knows a buyer is willing to offer more for a property, that information must be shared with the seller.  Confidences a seller shares with a seller’s agent must be kept confidential from potential buyers and others.  Although confidential information about the seller cannot be discussed, a buyer working with a seller’s agent can expect fair and honest service from the seller’s agent and disclosure of pertinent information about the property.

2. Buyer Representation
A real estate brokerage representing a buyer must do what is best for the buyer.  A written contract, called a buyer representation agreement, creates an agency relationship between the buyer and the brokerage, and establishes buyer representation.  It also explains services the brokerage will provide, establishes a fee arrangement for the REALTOR®’s services and specifies what obligations a buyer may have.  Typically, buyers will be obliged to work exclusively with that brokerage for a period of time.  Confidences a buyer shares with the buyer’s agent must be kep confidential.  Although confidential information about the buyer cannot be disclosed, a seller working with a buyer’s agent can expect to be treated fairly and honestly.

3. Multiple Representation
Occasionally a real estate brokerage will represent both the buyer and the seller.  They buyer and seller must consent to this arrangement in writing.  Under this multiple representation arrangement, the brokerage must do what is best for both the buyer and the seller.  Since the brokerage’s loyalty is divided between the buyer and the seller who have conflicting interests, it is absolutely essential that a multiple representation relationship be properly documented.  Representation agreements specifically describe the rights and duties of everyone involved and any limitations to those rights and duties.

4. Customer Service
A real estate brokerage may provide services to buyers and sellers without creating buyer or seller representation.  This is called “customer service.”  Under this arrangement, the brokerage can provide many valuable services in a fair and honest manner.  This relationship can be set out in a buyer or seller customer service agreement.  Real estate negotiations are often complex and a brokerage may be providing representation and/or customer service to more than one seller or buyer.  The brokerage will disclose these relationships to each buyer and seller.

Who’s Working for YOU?
It is important that you understand who the REALTOR® is working for.  For example, both the seller and the buyer may have their own agent which means they each have a REALTOR® who is represeting them.  Or, some buyers choose to contact the seller’s agent directly.  Under this arrangement the REALTOR® is representing the seller, but may provide many valuable customer services to the buyer.  A REALTOR® with a buyer may even be a “sub-agent” of the seller.  Under sub-agency, both the listing brokerage and the co-operating brokerage must do what is best for the seller even though the sub-agent may provide many valuable customer services to the buyer.  If the brokerage represents both the seller and the buyer, this is multiple representation.

Code of Ethics
REALTORS® believe it is important that the people they work with understand their agency relationship.  That’s why requirements and obligations for representation and customer service are included in a Code of Ethics which is administered by the Real Estate Council of Ontario.  The Code requires REALTORS® to disclose in writing the nature of the services they are providing, and encourages REALTORS® to obtain written acknowledgement of the disclosure.  The Code also requires REALTORS® to submit written representation and customer service agreements to buyers and sellers.

REALTOR® is a registered trademark of REALTORS® Canada Inc., a company owned equally by the Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association.

Article printed September 2008, OREA

If you’re familiar with the Ottawa market, then you know that our city is continually expanding with new home construction. You can find new homes and condos in just about every neighbourhood in the Ottawa area. Having lived in Ottawa for over 30 years, I find it fascinating how our city has grown, and grown, and grown throughout this time. Areas that were once farmlands are now highly developed with housing, restaurants, shopping centres and more!

Ottawa is a thriving city and the Builders in our community have introduced many wonderful floorplans and designs for today’s families. Many older homes with the traditional layout of formal living and dining room are now being modified to reflect how the newer generations want to live in their space. We are seeing the growing demand for Great Rooms, which are large family rooms, often beside an eat-in kitchen. This new open concept allows families to achieve optimum useage from their living spaces, while providing excellent areas for entertaining. With the dawn of the home-theatre system, you can now find several floorplans with a room specifically designated as the theatre/media room and many homes are now being pre-wired for this option.

Buying a new home construction might be exactly what your family requires. It is important to mention that you can have a real estate sales representative work on your behalf when negotiating with a Builder. Most Builders in the Ottawa area cooperate with Brokerages. I have found that many people are unaware of this great service advantage available to them. Your real estate representative can discuss more closely your individual needs and make sure that you are considering all the best options for your new home. After you have selected the home design that suits you best, it is important to pick the right lot. As professionals in the industry, we are working with buyers and sellers just like you, everyday. We have learned which properties often sell faster and for top dollar. This is why it is so crucial to pick the best lot for your home. Someday you may need to sell and your home will need to stand-out above the rest on your block.

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