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What are the Typical Costs involved in a Home Purchase: 


It really just begins with the actual purchase price of your home, so we want you to be prepared for the additional costs that come along with the home buying process.


Here are some of the common items you can expect(some are optional & some may be required by your lawyer or lender): 



Home Inspection:

Once you find a property, you need to know everything you can about the home — good and bad. Home & Sewer Line Inspections can uncover issues that could impact the purchase price, or slow or stall the sale. These reports are optional, but can help you confirm that this is the home for you and also help prepare for possible projects to be addressed in the future. 


A home inspector checks that all major elements in the home are in good working order. A home inspection helps you make a more informed decision about buying a home but is not designed to be a renegotiation necessarily. 

If a roof needs repairs, you want to know about it right away and if the ducts require cleaning, a normal maintenance item, you want to know about that too!


Average cost is $400.00 plus taxes. 


Sewer Line inspection:

Optional but we recommend it in most cases, and especially in more established neighbourhoods where sewer lines may be older & where mature trees are the norm, and tree roots may cause blockages. Sewer line issues can be costly to deal with so having this information is valuable prior to completing a home purchase. 

Average cost is approximately $125.00 plus taxes. 



Property appraisal:

When you apply for a mortgage, your lender may order an 

Appraisal to get an estimate of the property's value. You may need one for financing purposes, so factor this into your closing costs. Ask your lender/broker fro more information about the costs involved & if they think it will be required for your purchase. 


Title insurance:

Your lawyer may encourage you to buy an owner's title insurance policy. In some cases, your lender may require a lender's title insurance policy, which is generally at your expense. These title insurance policies protect you and the lender from title fraud, municipal work orders, zoning violations and other property defects. The lawyer usually adds title insurance costs to your legal bill. 

The average cost is between $185-250. 


Property insurance:

Property insurance protects you in case of fire and certain other disasters. Your lender requires you arrange property insurance for your home's replacement value. The insurance must be in place before your lender advances the mortgage funds. Cost will depend on your coverage. 


Legal fees and disbursements:

These are the final expenses you need to plan for prior to possession of your new home! 


After removal of conditions, your lawyer will send you a transaction report which includes copies of all relevant legal papers.


  • Disbursements include any expenses your lawyer had to pay for work on your behalf. Legal Fees vary from law firm to law firm but average between $1500-1700 including applicable taxes. 


  • Adjustments will also be made for property taxes and pro-rated rental charges on water heaters etc, where applicable.


  • In addition, your total legal bill will also include land title transfer fees which are dependent on the purchase price of your home, but is equal to .03 cents/thousand dollars of purchase price.  


So, for example if you are purchasing a $500,000 property your total legal costs, plus title transfer fees will be approximately:  


$1,500.00-1,700 Legal Fees 

$1,500.00 Land Title Transfer 

$ ??         Additional Adjustments for Property Taxes etc. 



Having this information can help you to be prepared for all of the costs that come along with the purchase process, beyond just the purchase price of your new home, so hope there are no surprises along the way!


Happy Home Shopping! 


~ Karin & Jen 

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2021 New Year …..New Home?

Here’s How to Get started! 


Now that 2020 is done and you have had time to reflect on the year that was, you’re likely thinking about what 2021 holds for you! 


If making a move is in your plans, there are a few things you may want to do before you start the process of house hunting. 


3 Things To-Do Right Now:


1. Meet with your lender or mortgage broker to discuss your plans and determine your budget & price range and get that pre-approval in place!  And while interest rates are so favourable you may want to get yours locked in now! 


Also, if you own a home currently you will need to know if a purchase is conditional on the sale of your home or if you can bridge finance for a period of time. 


2. Start thinking about your “must haves’ and your priorities in a new home.


-Is it location….because of proximity to work schools, daycare or near friends & family? 


-Or is the layout o the home because you are both working at home now and have kids homeschooling so you all need your own space?  Or do you have small children and need 4 bedrooms all on the same level? 


-Or is it the yard and the ability to create an outdoor oasis because you may not be travelling as much? 


-Is a 3 car garage a must because you have a car fanatic in the family…or because you have teenagers who will be driving soon? 


Whatever it is, that’s the jumping off point when we start our list of great options for you to view! 


3. If you have a home currently that you will need to sell, start tackling the list of to-do’s now so you are you prepared to list when the time comes. 

It may be as simple as decluttering & touching up some paint …or there may be some bigger things that need to be attended to before the space is “show ready”! 


If you’re not sure where to start check out our Two Part Blog on Preparing your Home for Sale …..or just ask us, we’re here to help! 


Preparing Your Home For Sale - Part One

Preparing Your Home For Sale - Part Two


Happy New Year & Happy House Hunting! 


~ Karin & Jen 



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2021 New Year …..New Home?

Here’s How to Get started! 


Now that 2020 is done and you have had time to reflect on the year that was, you’re likely thinking about what 2021 holds for you! 


If making a move is in your plans, there are a few things you may want to do before you start the process of house hunting. 


3 Things To-Do Right Now:


1. Meet with your lender or mortgage broker to discuss your plans and determine your budget & price range and get that pre-approval in place!  And while interest rates are so favourable you may want to get yours locked in now! 


Also, if you own a home currently you will need to know if a purchase is conditional on the sale of your home or if you can bridge finance for a period of time. 


2. Start thinking about your “must haves’ and your priorities in a new home.


-Is it location….because of proximity to work schools, daycare or near friends & family? 


-Or is the layout o the home because you are both working at home now and have kids homeschooling so you all need your own space?  Or do you have small children and need 4 bedrooms all on the same level? 


-Or is it the yard and the ability to create an outdoor oasis because you may not be travelling as much? 


-Is a 3 car garage a must because you have a car fanatic in the family…or because you have teenagers who will be driving soon? 


Whatever it is, that’s the jumping off point when we start our list of great options for you to view! 


3. If you have a home currently that you will need to sell, start tackling the list of to-do’s now so you are you prepared to list when the time comes. 

It may be as simple as decluttering & touching up some paint …or there may be some bigger things that need to be attended to before the space is “show ready”! 


If you’re not sure where to start check out our Two Part Blog on Preparing your Home for Sale …..or just ask us, we’re here to help! 


Preparing Your Home For Sale - Part One

Preparing Your Home For Sale - Part Two


Happy New Year & Happy House Hunting! 


~ Karin & Jen 



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During times of economic uncertainty, it is more important than ever to support local business owners and independent artisans. This year our local Regina shops & restaurants have been hit hard by the COVID-19 restrictions & this holiday season, we have an opportunity to shift our consumer power towards our locally owned & operated businesses. 


Every time we buy from a local small business, we make our community more prosperous & we have so many great options in YQR!  We hope our holiday gift guide will help inspire you as you finish your gift shopping this year! 




For the Fashion Enthusiast

If that is the man in your life, our go to for the perfect gift for our guys is Colin O’Brian Man’s Shoppefor selection with the coolest brands like Hugo Boss & John Varvatos and service by their stellar staff, we know we can always get the perfect sweater, scarf and the coolest socks to fill that stocking! 



Ladies, when you want the perfect jeans, tee or something comfy to lounge in, you can count on great shops like Havik ClothiersTHR3E Clothing Connection in Lumsden and our friends at Nico Lady + Baby (yes even for the littlest fashionista!) for inspiration …. 


They all have great ideas for your gift giving this year like cute logoed sweatshirts(think Brunette the Label & Good hYOUman), lounge sets(like Z Supply), cozy scarves, jewellery & accessories, and of course super cute masks…. for one stop shopping.



Stocking Stuffer Alert! These new mask lanyards from Nico Lady & Baby are perfect stocking stuffers!! 





For the Kids

Without question if you are shopping for fun,or learning, toys, games, puzzles, colouring books or sticker books, Zippity Zoom Toys is one stop shopping for all ages of kids…and it’s just a fun place for us big kids too! 





For the Foodie & Home Accessory Fan! 

If you’re looking for great gift ideas for for someone who loves to cook….and let’s face it we’ve all kind been finding our inner Ina Garten/Jamie Oliver in the past 8 months…check out Crocus & Ivy for the most lovely selection of cookware & glassware, and great stocking stuffer ideas like Christmas Tree Ornaments, the cutest tea towels, aprons & gourmet food items...not to mention women's & kids fashions! We promise you will want to just hang out and look at every single thing in this lovely store!


Bonus Tip: Plan to stop in at Magpies for coffee or tea & a home made treat while you're there! 




If you’re looking for the coolest gadgets(think BBQ tools, meat thermometers), gourmet knives, Wellness Mats, or great gift ideas from Maison Berger or this cool & elegant Sizzle candle lighter, then Kitchen Gear is your go-to!  



Stocking Stuffer Alert! We love this Car Air Diffuser from Maison Berger ...there's even one for the dog lover in your life! 




Bonus Tip! While you are at Kitchen Gear & its new sister store The Flower Shop On Hill Avenue stop and pick up some delicious treats from Something Sweet from Fadiah while you’re there!  #winwin





Did you know that our own local treasure CJ Katz has released two new "Covid19" cookbooks, One Bowl at a Time and One Loaf at a Time with recipes shared from Canadian cooks from all across our country! What a great great 2020 keepsake & gift idea!




For Anyone …and Yourself of Course! 

And for those people who have everything and you don’t know what to get, when all else fails treat them with a lovely scented candle…we love these locally made hand-poured candles from Ruby Reid ...the new Holiday Candle is a blend of cedarwood, fraser fir & pine and may just become your new seasonal favourite scent!  While you’re there check out Sara Lindsay’s Pretty City Studio for exclusive lines of make-up, skincare and gift cards for makeup application, brows, lashed & more! 




If you live in or are you're heading out to White City/Emerald Park check out Wish Home & Gift where you will find something for anyone....living gifts & potted plants, home accessories, Holiday seasonal gifts, home & body care products, gourmet candy & chocolates, and even gifts for the little ones! They seriously have the coolest things &

their gift packaging is just so pretty & elegant, it's such a pleasure to give & receive!





Date Night ...at Home!

Supporting our local hospitality industry is so important right now and we can help by ordering takeout for ourselves and sharing gift cards with our friends & family so they can take a night off and do dinner(and maybe wine?) and a movie(aka Netflix) at home! 




We have so many great places in Regina providing at restaurant at home options with pick-up & delivery, like some of our favourites from our friends at Luna Kitchen & Bar, Bar Willow Eatery, Skye Cafe & Bistro and Chop Steakhouse & Bar (a locally owned & operated franchise)



Did you know Skye Cafe & Bistro has a special gourmet take-out dinner menu every weekend....and they have a Christmas turkey dinner menu so yo ucan relax & enjoy the holidays with one less stress! We were lucky enough to enjoy their Thanksgiving turkey dinner so we know this one will be amazing too! 



Stocking Stuffer Alert! Did you know that Bar Willow has 25% off all OffSale Wines with Free Deliver over $100? Now there's something to celebrate! 





And of course, check out one of the Support Local” Facebook pages to get information & more inspiration for products & services including loads of inspiration from some of our super talented local Regina artisans!




Happy Holidays & Happy Shopping from our homes to yours! 


~ Karin & Jen 



Info@W2RealtyTeam.com


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JUNE 2020 YQR Real Estate Market Update:


As the province continues to re-open, the real estate sector is experiencing a strong recovery!


Year-over-year sales across the province were up close to 50% from June of last year and down only slightly year-to-date, signalling that we’ve nearly recovered all of the sales lost during the COVID lockdown.


New listings were up almost 8% over June last year and the median home price was up almost 2%. 

Total inventory is down indicating that people are eager to buy now and make up for lost time due to the pandemic, which are seeing personally in our business for sure!


Average Days on Market in June was 58, down from 66 days in May.


From our SRA Media Release regarding June 2020 Market Activity:

“This recovery was expected as physical distancing restrictions were loosened and as people’s confidence began to return. With the economy getting back to “normal”, people are getting excited to buy homes.

 “We’ve seen properties in some markets sell within days of being listed,” said SRA CEO Jason Yochim. “And we’ve even seen bidding wars start to break out”, suggesting that people are quite motivated to buy and may be willing to pay more than full listing price. “


This could help to further fuel Saskatchewan’s recovery as people feel encouraged to list their properties as activity increases and home prices rise.


Check out the full July 2020 SRA Media Release here!


If you have questions about buying or selling real estate in Regina, or the market in general,feel free to reach out to us. We're here to help!


Email: Info@W2RealtyTeam.com



Happy House Hunting! 


~  Karin & Jen


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“SASKATCHEWAN REAL ESTATE MARKETS REBOUNDING AS PROVINCE RE-OPENS: Strong Recovery Expected”


The May 2020 market stats are out and signs remain positive! We have seen a lot of activity in the market since the beginning of May when our provincial re-open plan began and the hopefulness & positivity we see in our province is reflected in both buyers & sellers appetite to make a move in real estate!


Here’s a snapshot of what happened in our market in May:

* Sales in Regina held in May at 293 vs 289 in April, but still down from 339 sales YTD.

* The number of new listings in May 2020 rose dramatically to 644 from 286 new listings in April this year, but more on par with new listing numbers from a year ago.

* Homes in Regina stayed on the market an average of 66.3 days in May—up just slightly from 62.7 days in April (and from 61 days a year ago).

* Average home prices in Regina went from $287,925 in April to $294,390 in May (an increase of 2.2%).

* The MLS® Home Price Index (HPI)—a more accurate measure of house price trends—is up 3.7% from $267,200 to $271,300. Year-to-date, the median home price in Regina was $286,735 which is essentially unchanged from the $286,690 price, from the same time last year.


So what does all of that mean to you?
In a nutshell, we have thankfully not seen any measurable effect of a COVID-19 world in regards to our local real estate market….so far so good!


The National picture may be different because every province is in a different situation right now and of course, we have all heard about the controversial decision CMHC has made in regards to new mortgage rules…here is an excerpt from our SRA Market media update in reference to that topic:


“Saskatchewan’s market strength calls into question CMHC’s recent projections about the province’s real estate market, and CMHC’s Housing Market Outlook ignores the local nature of real estate. For instance, Saskatoon and Regina account for over 50% of the sales in the province, and these two markets alone can have a significant impact on the province’s overall performance. In addition, even at the height of the province’s state of emergency, year-to-date (YTD) sales in North Battleford, Estevan, and Yorkton were up more than 10% from last year, and YTD prices in several markets were also up.

“I hear more frequently that our members are receiving multiple offers”. So while the real estate sector in the province has been hit by COVID and continues to feel its effects, the outlook isn’t nearly as grim as some are making it out to be, and we’re already starting to see signs of recovery going into summer. “As the province continues to open up and our members take action to protect public safety,” says Yochim, “I expect markets to make a strong recovery.”


To view the full report from our Saskatchewan Realtors® Association click on the link below:
https://mlssask.ca/june-2020-media-release/



If you have questions about anything real estate, just ask…
We’re here to help!


~ Karin & Jen

Info@W2Realtyteam.com

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“SASKATCHEWAN REAL ESTATE MARKETS FARE BETTER THAN EXPECTED: poised to help boost provincial economy”

The April market stats are out and as the headline reads, the numbers are “better than expected” and actually mirror exactly what we have experienced personally in our business.

We have seen less activity in the market in April, more so on the selling side than buying, and most transactions were necessary rather than discretionary. But because there were less listings, we saw homes selling quickly and prices holding.

The National picture may be different because every province is in a different situation right now but we knew that the effects of a COVID world on real estate in Regina, and the province as a whole, would be directly related to the time it took to re-open our economy…so far so good!

Here’s a snapshot of what happened in our market in April:

* Sales in Regina were down 50.2%, going from 289 in April 2019 to 144 in April 2020

* The number of new listings in April 2020 fell significantly from the number last year. In Regina, new listings fell 50.8%, going from 581 to 286

* Active listings also fell 17.0% in Regina (down from 1,457 to 1,209), which just means that some sellers chose to remove themselves from the market in this time of COVID.

* Homes in Regina stayed on the market an average of 62 days in April—up a modest 1.6% from 61 days last year.

* Median home prices in Regina went from $283,000 to $287,925 (an increase of 1.7%) and were approximately 1.8% below the 5-year average median price.

* The MLS® Home Price Index (HPI)—which is considered a more accurate measure of house price trends—was down just 0.2% from $271,300 to $271,100, year to year.

For the full SRA media release with all the provincial stats for April check out the link below:
 
⁉️ So what does all of that mean to you?
If you have questions about anything real estate, just ask…
We’re here to help!

~Karin & Jen
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