National Housing Strategy First-Time Home Buyer Incentive Program Highlight Sheet. Incentive applications start as of today, September 2, 2019. However, closings can not happen before November 1st 2019. Find out more here

https://www.placetocallhome.ca/fthbi/first-time-homebuyer-incentive

Realty Executives North Star Mortgage (R.E.N.S. Mortgage)

All R.E.N.S. Clients get preferred rates and appraisal fee costs. What this means is that you get the best mortgage deal possible!  Mortgages are available from CIBC, TD Canada Trust., and 40 other lenders!

Selection of Products:

• Self employed program
• 35 year amortization
• Home equity line of credit (HELOC)
• $0 down (borrowed downpayment)
• Cash back
• Investor programs
• 1st Time home buyer program
• Builder construction mortgages
• Best Interest Rates Available

Let's get started finding your new home!  

http://www.realtyexecutivesnorthstar.com/mortgage

As I was out and about showing new homes this weekend, it came to mind that purchasers are not always aware that new construction homes come with a warranty in Alberta. 

The New Home Buyer Protection Act came into effect on February 1, 2014, requiring builders to provide home warranty coverage for all new homes. All new homes include a minimum warranty for:

• One year labour and materials;
• Two years for defects in labour and materials related to delivery and distribution systems;
• Five years building envelope protection, with a requirement for the warranty provider to offer the consumer the option to purchase additional years of coverage; and,
• 10 years coverage for major structural components

Exciting news for Edmontonian investors!  You can now apply for permits to build secondary suites in homes on narrow lots, semi-detached, duplex and row houses. Zoning Bylaw changes were passed by Edmonton City Council to allow secondary suites into these home styles on August 20, 2018 and are effective immediately. The Edmonton has also launched an online database where tenants can check to see if a suite has the proper permits in place prior to renting.

Not only does this expansion for secondary suite opportunities help provide all neighbourhoods in Edmonton these suites can also contribute to more affordable housing options. Homeowners can benefit with the help of rental income which acts as a mortgage helper.

Homeowners with existing, unpermitted suites can now apply for permits and become regulated. The City has offered an incentive for homeowners with unpermitted suites to come forward by waiving the application penalty fees if they voluntarily apply for permits before September 1, 2019. Homeowners with existing suites built before 2007 may also benefit from decreased retrofit costs if they obtain permits prior to changes to Provincial Fire and Safety Code regulations anticipated later this year.

Edmonton is offering grant funding to help homeowners cover construction costs. The funding can cover up to 50 percent of the cost of building a new suite, or upgrading an existing one, to a maximum of $20,000.

Interested in finding a home with the potential for a secondary suite? Contact me