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Paying Off Debt? Here are Some Tips to Reach Your Goal

Everybody faces debt at some point in life. While it can often feel overwhelming, here are some tips to help you pay off some of your debt to get you
back on track this year:

1. Create a budget for yourself.

This will help you manage how much money you’re spending each week or month. Make a
spreadsheet to help lay out what your spending limits are, you’ll feel great when you have extra
money each week.

2. Sell unwanted items.

The holidays are over, and now you’re left with lots of new items. Find yourself feeling cluttered
financially and mentally? Time to clean up! You can sell household items you no longer use,
search through your home and gather things you don’t use anymore. Take awesome pictures of
your items and put them online.

3. Treat yourself!

Having a reward system in place will help you stay on track to pay off your debt. Don’t let
yourself get discouraged if you don't meet your goals, try to improve the next week – and the
week after that!

4. Change what needs to be changed.

If you find yourself spending more money than you should every day, consider making changes
to your daily habits. Budget a grocery list for the week and buy items to have in your house to
take for lunch instead of buying something at work every day, or brew coffee at home and take it
to work with you instead of stopping at a drive-thru on your morning commute. You’re sure to
see a change in your spending habits with these small changes!

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Listing Your Property

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Listing a Property

The listing of a property is a relatively straight forward process, however there are a number of documents that your agent will want go over with you. We will outline a few of these documents to help you understand the process of listing your home with a REALTOR®.

Seller Designated Brokerage Agreement: Authority to Represent Document

The first, is the authority to represent document – known in Nova Scotia as the Seller Designated Brokerage agreement. This document, which is accompanied by the listing addendum and the property condition disclosure statement (PCDS) – sets out the relationship between you and the agent, including all of the duties they are bound to complete for you, and all of the disclosures they are going to require you to complete for the selling process. The listing Addendum, is a data collection sheet used for uploading the details of your property to the Multiple Listing Service.

Property Condition Disclosure Statement

The PCDS is a form that you will use to make any declarations about the home to prospective buyers, and goes a long way to creating some awareness about the issues that exist in the home for those who have interest in the property. It is the seller’s opportunity to disclose all that they know about the home – a key step in helping to minimize liability in the transaction. The PCDS will only be filled out if the owner is also the occupant, or has recently been. If it is a bank owned property, or being sold as a part of an estate, then likely there will be no PCDS.

Accompanying Informational Documents

The other forms that are required at time of listing are informational document – including forms discussing what agency means, what elements of the property are leased, and information gathering for the federal government through the FINTRAC data collection process.

Advertising Your Property

In terms of advertising your property – there are a whole host of options that you and your agent can discuss, including online, print, television, radio and more. Your agent will develop a marketing plan for your home, and in most cases, the agent will fund the marketing efforts during the listing time – thereby assuming much of the financial risk for the promotion of the home.

You should expect that your home should be marketed 24/7 through online efforts like REALTOR.ca, and the brokerage website. And finally, believe it or not – the old fashioned sign on the front lawn continues to be one of the best forms of advertising – so having the strength of a great agent and great brand suggests that you are approaching the sale of the property professionally.

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Securing a Mortgage

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Getting Pre-Qualified

Getting Prequalified for a mortgage is the first step in the buying process. Prequalification lets you know whether you will be able to borrow money from a bank or other lender, what your maximum monthly payment can be, and even “holds” an interest rate for you. The reason that this should be the first thing you do is that you want to set up the framework for what you can spend before you start shopping for homes. The last thing you want to do is start to look at things that you can’t afford, as it is just bound to set you up for disappointment.

But here’s the thing – not all pre-qualifications are the same, and choosing who is to help you is a more important decision than you might think. Many banks will do a pre-qualification based upon your “ratios” only. The ratios are the percentage of your income that you are allowed to spend on housing. For example, at most financial institutions, you are only allowed to spend up to 32% of your total income on your housing needs.

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Why Use a Mortgage Broker?

There’s a lot that should be considered when you go for a mortgage pre-qualification. First, the person doing the pre-qualification should also investigate your credit bureau – it’s a good time to find out if there are any skeletons that you may not know about – particularly if they are going to harm you when you seek final approval. Additionally, this is a great time to rate shop! However, did you know that if you go to multiple lenders who do a credit check each – that it can actually harm your credit? Consider using a mortgage broker, and you’ll have someone shop your “situation” around to the lenders for you. They will give you some options that you can choose from based upon criteria like rates, terms, features and more. There’s typically no cost for this service that the borrower pays – it’s the lenders who pay these folks. You can, of course, get prequalified by your bank or credit union as well, but it definitely pays to get a second opinion via a mortgage broker.

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Why Choose a Summit Group Agent?

summit-group-realty-agent

With the wealth of online resources dedicated to helping you search for a new home or sell the one you own, you might be wondering if you even need a real estate agent in the first place. However, you may want to consider why many homeowners choose to enlist the services of a real estate professional.

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A trusted real estate agent who comes recommended by others can increase your satisfaction with the process of buying a home in a number of important ways. These factors will help you determine the value your agent can provide:

There’s the Internet, Then There’s the “Pipeline

While a quick search on the web is a great place to start, you’ll want the inside track. A real estate professional will enhance your property search with a pipeline of properties. They, or others at their brokerage office, will also be aware of buyers who are looking within your area.

Opt for the Guided Tour

When you tour a landmark or attraction your experience is enriched by someone who is familiar with the location who can guide you. As a community expert, your real estate “guide” can provide insights on historical market values, culture, and attractions, as well as local resources relevant to your interests and needs.

A Single Point of Contact

A real estate professional will help you determine how much house you can afford, alert you to potential risks, help you find resources, and negotiate the offer. Often a seemingly simple transaction can grow legally complex and risky. Again, this is where the pipeline comes in, as your agent can help you locate trusted legal counsel, home inspection services, surveyors, and lenders.

Negotiating

A real estate professional can help you objectively consider the offer you plan to put forth. They can recognize the various strategies of a selling agent, which may serve to drive up the price. They can also provide insights that can help you submit a competitive offer on a home you don’t want to lose.

Click here to find your Summit Group Agent!

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Finding the Perfect Halifax Neighbourhood

halifax-neighbourhood-home-buyer

What is your Ideal Neighbourhood?

Purchasing the perfect property often involves more than just the home itself. What truly distinguishes a house from a home is the community and environment that surrounds it. Halifax has quite a variety of neighbourhoods and communities, just remember that neighbourhood preferences vary. While you may dream of a smaller, more charming community, others may yearn for big city living with every convenience at their fingertips.

There are many factors that go into buying the perfect home.While choosing the right property is very important, a neighbourhood plays a crucial role in creating lasting memories. The trick is finding one that suits your lifestyle.

Here are a few tips to help you find the right fit:

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Make a list.

Start by jotting down a list of the desired lifestyle factors that are most important to you and your family. Remember to leave no stone unturned — consider location, proximity to work and schools, amenities and local attractions.

Get out and explore.

While lists are helpful, nothing beats experiencing an area for yourself. Once you’ve narrowed down the most important factors, be sure to visit at least a couple of locations around Halifax that match the description. Though one may look good on paper, in reality it may leave more to be desired. The only way to truly determine what’s best for you is by seeing an area in person.

Call in the pros.

Often, the best way to find the perfect neighbourhood is by contacting a professional. Experienced sales representatives are aware of great areas suited to any need and can help narrow your home search and save time.

check out our Your Perfect Life tool to find your dream neighbourhood.

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Summit Group named Top 10% of Halifax Real Estate Agents

halifax real estate team
Summit Group achieves Royal LePage President’s Gold Status 

A delivery just arrived at our office – “Congratulations on achieving Presidents Gold so far this year! From your friends and family – Royal LePage Atlantic”

Royal LePage President’s Gold Award is defined as representing the top six to ten percent in their marketplace, Halifax Real Estate 

Congratulations to Gail Naugler and Colin Crawford on this achievement only half way through the year and Thank you to all of our loyal clients who made this possible!

Real Estate, Goal Oriented.

– Cohen MacInnis 
Team Lead, Summit Group

Learn more about the Summit Group, Visit our profiles under About Us 

 

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Summit Group partners with Seven Lakes Lifestyle Community in beautiful Porters Lake, NS

Summit Group is proud to represent Seven Lakes Community, A Nova Scotia Lifestyle Community in Porters Lake, just minutes from City of Halifax featuring Detached, Semi-Detached Homes and Cottages, Waterfront Lots and Custom Build options from our builder Synergy Homes.

Seven Lakes Community is The largest Conservation Community in Atlantic Canada, Seven Lakes offers you a place to walk, a place to play and a place for your family to grow; a natural lifestyle that is simply priceless. By embracing the principles of conservation design, we are developing a community not just for today, but for the future.

A CONSERVATION COMMUNITY MEANS A LOW IMPACT DEVELOPMENT THAT WILL:

  • Reserve over 60% of the existing habitat and significant natural features for your enjoyment- and for generations to come
  • Help protect water sources
  • Give homeowners access to surrounding natural landscapes
  • Maintain the rural character of the community

At Seven Lakes, we believe that a great Community Master Plan is first and foremost a Conservation Design. Inspired by nature, where people are connected to the earth beneath their feet and to their neighbours on the other side of the hedge.

The community’s design incorporates neighbourhood greens that bring communities together. We are creating footpaths and bikeways that connect communities, and we’ve planned places to play that focus on wholesome activities for children.

We are committed to conserving trees wherever we can, and planting new trees to help make our neighbourhoods richer, greener and stronger.

The best of rural and urban living, just 25 minutes from Halifax!

CONTACT US TO SCHEDULE PRIVATE TOUR