Family Day was first introduced in 1990 and is now a beloved celebration for several Canadian provinces, including: New Brunswick, Alberta, Manitoba, Ontario, Saskatchewan and British Columbia!

Rooted in the value of home and family, this is a great day to spend some extra time with your closest loved ones, and remind them how much you care.

Below are a few ways you can celebrate Family Day this year:

• Cook a Meal Together: From making mini personalized pizzas to cooking up a brand-new recipe or baking something delicious, the kitchen is a great space for family time and making fun memories!
• Build a Blanket Fort: With the winter chill not quite lifted yet, building a blanket fort is a great way to spend the day with your family and watch movies, share laughs and enjoy some yummy snacks!
• Try an Online Exercise Class: Want to enjoy your family and get a little exercise while you’re at it? Try an online workout class! Not only is this a fun activity you can do with your kids from home, but it is a great way to teach them about health and start setting up healthy habits for life.
• Do an In-Person OR Virtual Tour: Museums are a fun and different activity that families can do together whether in-person or online, as many museums now offer free virtual tours!
• ZOOM with the Famjam: While you might not be able to have the entire family together, in person, we live in a digital world, which allows us to access the people we love at all times – no matter how far away they are! Call up your parents or grandparents, do an activity over the computer or have a story time session, or simply take a moment to ‘check-in’.

No matter how you spend it, I hope you have a wonderful Family Day and I wish you and yours the best to come

So! You think you’ve found your dream home, and you can’t wait to check it out in person.

Before you go, here are a few things that are important to look out for during a home tour:

• Odor: Unusual smells can indicate problems, especially mold or mildew issues.
• Plumbing and Electrical: Check water pressure as well as electrical systems to ensure no eroded or exposed wires, properly functioning HVAC, sealed water heater, etc.
• Noise: This is one that homebuyers can often overlook, but it is important to consider the noise within the house as well as how loud the street and neighbourhood are before committing to ensure they are suitable for you.
• Home Layout: Whether or not the layout and function of the home suits your needs.
• Number of Rooms: How many bathrooms and bedrooms does the house have? Is that amount suitable for your needs?
• Wall and Flooring Condition: What is the condition of the walls and floors? Defects such as warping, cracks, watermarks, etc., can be indicative of larger issues.
• Unpermitted Additions or Updates: On occasion, you might go to view a home that was listed as having 2 bedrooms and 1 bathroom, only to find that it actually has an extra bathroom! As great as this might be for your needs, you’ll want to double-check that the addition was permitted. Unpermitted construction can create major issues when it comes to insurance coverage and potential structural headaches if not done properly.

Remember, things like furniture, decor, wall or floor treatments, and hardware or other fixtures are easily updated and not important when viewing a home as they can be changed if the rest of the home suits your needs!

In addition to these items to keep an eye out for, there are also a few specific questions you should be asking your realtor, including: deadline for offers, number of offers that have been made, why the sellers are moving, any concerns they may have, whether or not there is a homeowner association with fees, and how old the home is.

Not all insurance products are created equal. One of the most common mistakes homeowners and potential homeowners make is that they hear the word “insurance” and just assume they have it! Well, you might have one kind of insurance, but you might be missing coverage elsewhere.

It is important to understand all the different insurance products to ensure you have proper coverage.

To help you get a better understanding of the insurance, below are the four main insurance product options you will encounter and what they mean:

Default Insurance: This insurance is mandatory for homes where the buyer puts less than 20% down. In fact, default insurance is the reason that lenders accept lower down payments, such as 5% minimum, and actually helps these buyers access comparable interest rates typically offered with larger down payments.

Default insurance typically requires a premium, which is based on the loan-to-value ratio (mortgage loan amount divided by the purchase price). This premium can be paid in a single lump sum, or it can be added to your mortgage and included in your monthly payments.

In Canada, most homeowners know of the Canada Mortgage and Housing Corporation (CMHC), which is run by the federal government, and have used them in the past. But did you know? We also have two private companies, Sagen Financial and Canada Guaranty, who can also provide this insurance.

Home (Property & Fire) Insurance: Next, we have another mandatory insurance option, property and fire coverage (or, home insurance, as most people know it by). This is number two on our list as it MUST be in place before you close the mortgage! It is especially important to note that not all homes or properties are insurable, so you will want to review this sooner rather than later.

In addition to protecting against fire damage, home insurance can also cover the contents of your home (depending on your policy). This is important for anyone looking at purchasing condos or townhouses as the strata insurance typically protects the building itself and common areas, as well as your suit “as is”, but it will not account for your personal belongings or any upgrades you made. Be sure to cross-check your strata insurance policy and take out an individual one on your unit to cover the difference.

One final thing to consider is that you may not be covered in the event of a flood or earthquake. You may need to purchase additional coverage to be protected from a natural disaster, depending on your location.

Title Insurance: Another insurance policy that potential homeowners may encounter is known as “title insurance”. When it comes to lenders, this insurance is mandatory with every single lender in Canada requiring you to purchase title insurance on their behalf.

In addition, you have the option of purchasing this for yourself as a homeowner. The benefit of title insurance is that it can protect you from existing liens on the property’s title, but the most common benefit is protection against title fraud. Title fraud typically involves someone using stolen personal information, or forged documents to transfer your home’s title to him or herself – without your knowledge.

Similar to default insurance, title insurance is charged as a one-time fee or a premium with the cost based on the value of your property.

Mortgage Protection Plan: Lastly, we have our mortgage protection plan coverage. This is optional coverage, but one that any agent can tell you is extremely important. The purpose of the mortgage protection plan is to protect you, and your family, should something happen. It acts as a disability and a life insurance policy in regards to your mortgage.

Typically, when you get approval for a mortgage, it is based on family income. If one of the partners in the mortgage is no longer able to contribute due to disability or death, a mortgage protection plan gives you protection for your mortgage payments. However, most homeowners don’t realize that if they buy one of these policies through their financial advisor, life insurance agent or bank, the policy will not be able to move with them to a new lender.

As your mortgage professional, I have an exclusive opportunity with this product through Manulife. This means that, if you purchase a Manulife Mortgage Protection Plan with me, you are protected for the life of your mortgage. You do not have to stay with the same lender! If you move, your protection ports with you instead of other similar products where the plan is specific to that lender. In those cases, should you want to switch lenders, you would need to requalify for your mortgage protection plan – possibly at higher rates!

If you have any questions about mortgage insurance or what are the best options for you, please do not hesitate to reach out to me! I would be happy to take a look at your existing plan and discuss your needs to help you find the perfect coverage to suit you and your family.

Make 2022 the year of finance by improving your financial direction from the start! Even if you are living paycheck-to-paycheck, a few changes to the way you spend and look at money can make all the difference. It’s never too late to start again and reverse course! Here are a few simple ideas to get you started:

• Create a Budget: In order to stop living paycheck-to-paycheck , you need to know where that paycheck is going. Creating a budget is simple with Google docs, or look into other online tools and sites to get started.
• Pretend You Earn Less Than You Do: Give yourself a cut in pay. The goal is to put 10% in savings from each paycheck into your savings account. The easiest way is to do an automatic direct transfer from your chequing account to your savings every pay period.
• Pay Down Debt: If you have a lot of credit card or unsecured debt, try paying the minimum on all but one of them and aggressively pay down that one card. Once it’s paid off, attack the next one. If you’re so deep in debt that you can’t fight your way out, consider consulting with myself or your local mortgage broker about your debt consolidation options and if your mortgage can be used to help you clean the state. They will be able to review your debt and possibly recommend a way to consolidate it into one simple payment with a single point of interest charges.
• Build an Emergency Fund: Once you have your budget in place, review it and break it down into non-discretionary expenses (rent, groceries, utilities, etc.) and discretionary expenses (eating out, entertainment, clothes, etc.). See where you could cut down on discretionary spending and put that money towards your emergency fund. Even starting with just a little amount is great and helps you build the habit of saving.
• Don’t Forget Your Future: Putting at least 3% of your paycheck into a retirement fund is a great idea, or maybe when you get your first raise instead of thinking of it as free money, simply put it into a fund and forget about it. You’ll be glad it’s there when you need it in the future.
• Consider Downsizing: It may be time to consider a lifestyle change. Consider moving to a smaller place. Get rid of that cost of going to that expensive gym with a trip to the local park. Think about if you really need that brand new car or if a used one would work just as well.

According to the 2022 Canadian Housing Market Outlook Report from RE/MAX, steady growth is anticipated across the Canadian real estate landscape into 2022. While Canadians continue to recognize the value and investment potential of their home, market challenges (such as rising prices and limited supply) maintain their impact on local markets.

It is estimated that Canada will witness an approximate 9.2% increase in average housing prices across the country as a result.

One of the key trends we see continue from 2021 into 2022 is inter-provincial migration occurring in many regions as a result of supply and affordability of homes across Canada. Individuals are also looking for larger homes with more space for growing families. While there is potential for the real estate conditions to continue to shift, 49% of respondents view Canadian real estate as a top investment option and believe the market will remain steady throughout 2022.

Below are some key regional forecasts from Moody’s Analytics and Real Property Solutions (RPS) for 2022:

• British Columbia: Housing markets in BC are also overvalued, particularly in Vancouver and other metro areas. As a result, these areas will continue to have a downward pull on housing prices due to reduced affordability.
• Alberta & Saskatchewan: Currently considered “undervalued” housing markets, they are likely to do better despite weaker economics as they have retained better affordability.
• Manitoba: Lifestyle shifts, such as hybrid working environments and younger couples enjoying the freedom to work from home, predicts that Winnipeg will continue to be a seller’s market through 2022 with high demand for one- and two-story detached homes.
• Ontario: Smaller metro areas (Brantford, Kitchener, Kingston, London, Windsor and Ottawa) are expecting the strongest house price appreciation rates. With regards to The Greater Toronto Area, this region currently suffers from over evaluation. However, housing prices have shown less sensitivity to this based on historical data so they are likely to experience less downward pressure.
• Quebec: This province presents important contrasts as Montreal is the only metro area in Quebec not in the correctly valued range (plus or minus 10%), and will experience a downward pull on housing prices due to reduced affordability.
• Nova Scotia & New Brunswick: The highest home price appreciation is expected to occur in the metro areas of Moncton and Halifax.
• Newfoundland & Labrador: Aside from the Prairies, this Atlantic province is expected to see housing price growth move at a faster rate.

If you are looking to buy, sell or simply review or renew your mortgage in 2022, please do not hesitate to reach out to me! I would be happy to review your situation with you and help you make the best decision for you and your family now, and into the future.

The Pantone Color Institute has published their 2022 Pantone trends with Spring and Summer colors that reflect our aspiration for balance. These colors highlight our need for clarity, security and comfort allowing us to satisfy our urges to remain with what is familiar. In addition, these colors bring together a balance of joyful adventure through soothing and timeless hues.

Some of the more distinctive tones for early 2022 blend color and familiarity with the unexpected and include pastel blues and pinks, along with vibrant roses, blues and yellows paired with soft mochas and teals. These are balanced with classic beiges, whites and greens for a balanced palette with a splash of color and excitement!

If you’re looking for ideas on how to incorporate this year’s Pantone palette, some easy options include: adding a fresh coat of paint to your bedroom or living space, spicing up your furniture with new throw pillows or reupholstering your sofa and seating area to add a splash of freshness! You can also consider reviving your curtains with new tones or swapping out your rug to add in powerful accent hues.