Want to know how to save money this year? A good first step to build your savings account is to lower your cost of living. Whether your savings goals include a down payment on a home, an emergency fund, you want to save for retirement, or you simply need more money each month to cover your expenses, these small but impactful saving tips can help you find money – potentially lots of money! – in the long run. Consider these tips to help you put money away and start saving!
How to save money in 5 simple steps
Start a carpool
Those who drive to work everyday end up spending thousands of dollars on gas each year. Starting a carpool is an easy way to spend less on gas every week. Not only are you saving money, but you’ll be reducing your carbon footprint at the same time. The more people in the carpool the better!
Buy non-perishable foods in bulk
Buying non-perishable items in bulk is an easy way to save lots of money. Look at the cost per unit of all of the sizes and choose the best deal. You can also use coupons, or take advantage of multi-buy deals at your local grocery stores, to save more money each month.
Consider buying no-name brands
No-name brands are strikingly similar and priced lower than most of their mainstream brand counterparts. Switching to no-name products can significantly reduce your weekly grocery bill and can save you hundreds of dollars over the course of a year.
Make your own coffee at home
Buying coffee on a daily basis can really put a dent in your budget. You may not notice it right away, but over long periods of time, it really adds up. By making your own cup at home every morning, you can add a few extra dollars to your savings plan and avoid the unnecessary waste of a paper cup!
Remove unnecessary features from your cell phone plan
It’s likely that there are unnecessary fees, or some features you’ve forgotten about that you’re paying for. Double check to ensure you’re not paying for anything that you don’t use often.
We bet you’re not the only one who’s looking for tips on how to save money this year. Try these money saving tips with a family member or friend to keep each other motivated and ensure you both stay on track. Sometimes it’s not just what you buy, but where you shop.
Lowering your cost of living doesn’t have to be difficult. By following these tips on how to save money, you can reach your savings goals in no time, and purchasing your next home can happen sooner than you think! Happy budgeting!
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When it comes to selling your home there are a lot of factors to consider, one of the biggest being the timing. While sometimes timing cannot be controlled, there are certain times of the year that are better than others when it comes to listing and selling your home, if you are not in a huge time crunch. We reached out to our RE/MAX Influencers – a panel consisting of RE/MAX Sales Associates throughout Canada – to compile some of the top reasons to list your home at the beginning of the year.
According to our RE/MAX Influencer panel, there are five key factors that play a role in deciding when the best time to list is and they were most prominently noted in the beginning of the year. These five key factors include seasonality, competition, exposure, move-in timing and a seller’s vs. buyer’s market. Taking these factors into consideration, our RE/MAX Influencers noted February, March and April as three of the best months to list your home for sale.
Although the weather isn’t always the best, the month of February was noted to be a good month to list your home by our RE/MAX Influencers for several different reasons. Listing your home in February gives you the chance to gain some exposure before the spring rush, and the normally low inventory in February means less competition. The timing of February is also good in terms of people beginning to either start of resume their house hunt after the busy holiday season.
Listing in February can also give you a leg up as the weather begins to take a turn for the better and February typically leads into a very active spring market. Because of this, buyer’s attitudes are typically better due to spring fever, and purchasing in February gives buyers lots of time to move in before summer.
According to our RE/MAX Influencers, listing your home in March falls under many of the same points as listing in February. You are able to beat the spring rush and get some early exposure and low inventory results in less competition. As well, by March many people have settled down after the rush of the holidays and winter vacations and are beginning to search for homes. The weather begins to improve which also helps boost the moods of potential buyers and gets them thinking about buying and settling into a new home before summer.
Listing your home in March also lines up with a late spring/early summer possession date, which is attractive to many buyers as it means they can be settled into their new home before the summer months hit. This timeline gives them the opportunity to begin moving as nicer, warmer weather hits, and allows buyers to enjoy the summer in their new home.
By April the weather has usually improved and those who choose to list their home during the month of April are hitting the market at the beginning of the spring rush. According to our RE/MAX Influencers, April is a great month to list your home as it after the income tax period and many buyers are beginning their search, which will give your listing the best exposure! The good weather that comes along with spring will help the exterior of your home to look lovely and green, which will attract buyers much more. Many buyers are also more willing to come and look at a listing in the spring, as they won’t have to trudge through snow and ice to view your home.
April is also a great month for listing as it lends itself nicely to a 90 day possession timeline, which is the perfect time to move at the end of June when school is over. Typically as the year progresses more into spring, buyers start seriously searching for their next home and there are often more buyers in the market than there were in the early months of the year.
For more articles from our expert Influencers, click here!
DECEMBER 2019 STATISTICS RELEASE
Statistics include Fort McMurray and surrounding area
There are some good things to note in the December Statistics in the Fort McMurray real estate
market. Single family home sales were up 52% over last year at the same time.
YTD SALES Highlights
Avg single family home price down 7%
Condo Apt sales up 30%
Townhouses sales up 20%
Mobile Homes with land: sales up 12% and inventory was down 20%
Vacant Lot sales down 65%, inventory down 38% & price up 12%
Single family homes inventory is currently the lowest it’s been since December 2009. It could be a
good time to get your home on the market. Call your favourite local Real Estate Professional.
As always the best advice is the trusted advice from your Real Estate Professional.
Complete statistics are posted monthly on Fort McMurray Realtors website www.fmreb.com.
House flipping has been on the rise for some time and with a number of popular house flipping television shows being broadcasted daily across the country, it is easy to see why it is so appealing. A short, thirty-minute episode makes the overall process look pretty easy to flip a home and resell it for a large profit, but don’t be fooled! There is a lot more involved with flipping a house than what you see on TV. If you intend on taking the plunge and starting your own flip project, make sure you do your research and educate yourself on the do’s and don’ts of flipping a house.
What is House Flipping & Is it A Good Investment?
House flipping is when real estate investors purchase homes with the intention to flip them and resell them for a profit. Most of the time, the ‘flipping’ involves renovating and repairing the home to bring it up to date. This then allows the investor to turn around and sell the home for a much larger price, pocketing the profits. If done right, house flipping can be a great investment and can turn a good profit. Just as easily as it’s gone right, a house flip can also take a turn for the worst and can actually cost you money. This is why doing your research and making smart choices is always the best option!
5 Things to Remember When Flipping a House
Location is Everything!
Location is key when it comes to both purchase price and resale price, as purchasing a home in a great neighborhood is going to result in buyers also wanting to be in that neighborhood. Keep in mind who your target buyer is going to be as well. Knowing the liveability factors of the neighborhood you choose is going to play a large role in how you renovate and market your flipped home. According to the 2019 RE/MAX Liveability Report, six-in-10 Canadians put easy access to shopping, dining and green spaces at the top of their liveability criteria, along with proximity to transit, work and preferred schools. Work with a realtor who knows the market and area and can find you a fixer-upper in a great neighborhood at a great price!
Consider Your Target Buyer
Once you’ve narrowed down your preferred neighborhood, make sure you consider the type of buyer you want to purchase the home once the flip is complete. By doing this, you can renovate the home to cater towards their preferences and budget. If your target buyer is a new family, think about the kinds of features that will benefit them as their family and kids grow, whether that be lots of storage or good backyard space. If you’re renovating with the intention to sell to a professional couple, consider their lifestyle and what elements you can put into the home that will cater to them. Considering your target buyer can help to not only give you direction in the design and renovation phase of the flip, but can also help you with resale value, as your flip will hopefully check all the boxes for potential buyers!
Find a Reputable Contractor
After you’ve done the work of locating a great neighborhood and purchasing a home, it’s time to find a contractor to carry out the renovations required for your house flip. Take the time to interview different contractors to find someone who you are going to get along with and who understands your vision for your house flip. One of the best ways to find a great, reputable contractor is by asking trusted friends and family for referrals. It’s likely that someone in your circle has worked with a contractor that they trust and can refer their name to you. Don’t forget to also get quotes from your contractor, this way you are both in agreement with how much the renovation will cost and what the project timeline looks like. Another great way to find a reputable contractor is to visit the Canadian Home Builder’s Association website. They have lots of great tools and resources to help you find the right contractor for your renovation.
Consider Your Timing
Timing plays an important role in your house flip and because you’ll be making mortgage payments, you will want to sell the property as soon as you’re done renovating. Take into account the timing of your purchase, how long the renovation is going to take and when you plan on selling. When you start working with your contractor, make sure you set a timeline for the project and stick to it. If you can have a fast turnaround from purchase date to sale date, that is ideal as you then won’t be stuck having to pay the mortgage while the house sits empty, either mid-renovation because of going over your timeline or sitting on the market if you try to sell at a tough point in the year. Be conscious of your timing and plan everything out as best you can to avoid any situations that might affect your budget and overall profit.
Determine the Right Asking Price
Once you’ve completed your renovation, the final step is to determine an asking price for your project. Check with your realtor to determine the right asking price for your property. You want to make sure you’re attracting buyers, covering your expenses and making some money on the flip. Pricing too high for the neighborhood can turn buyers away, which will leave you stuck paying the mortgage while the house sits empty. Pricing too low might attract a number of buyers, but you may not make enough to recoup the costs and make a profit off of the flip. Your realtor will be able to suggest an appropriate listing number based on the location, liveability factors, upgrades and other comparable properties in the area.
While flipping a house is a lot of work and can seem daunting to those who have never gone through the process before, if you take the time to research and educate yourself, work with a great realtor and contractor and stick to your budget and timeline, you can reap the rewards of your hard work when your flipped property sells and you pocket your profit!
Want to flip a house in Fort McMurray? Click the link the below to search all properties.
Communications Coordinator RE/MAX of Western Canada
Kayley Jackson is a recent English & Creative Writing graduate, as well as writer and photographer whose love for words and being creative brought her to RE/MAX. As Communications Coordinator at RE/MAX of Western Canada, Kayley creates and oversees content that appeals to buyers and sellers alike, aiming to assist them on their homebuying or selling journey. Kayley carries out public relations, communications and social media content for RE/MAX, which includes creating content and writing for the consumer-facing blog at remax.ca. When she’s not behind the lens of her camera or writing away at her desk, Kayley can be found enjoying the Okanagan lifestyle in Kelowna, BC, where she lives with her boyfriend, or daydreaming about where her next travel adventure will take her. Email Kayley at firstname.lastname@example.org.
Hi, my name is Dana McAroe. I'm a Real Estate Agent in Fort McMurray. I help people get the best possible outcome from their real estate transaction - whether they are selling or buying or a house.