First Time Home Buyers:

The federal government is making it easier for Canadians to enter the housing market. Starting December 15th, 2024, the maximum purchase price for insured mortgages will increase to $1.5 million, and first-time homebuyers can now finance their homes over 30 years. This change could make it easier for Canadians to afford their dream homes.

Insured Mortgages Stress Test News:

Mortgage brokers were previously required to stress test or, in other words, re-qualify clients for their mortgage when switching them to a different lender at renewal. As of November 21, 2024, the stress test requirement on straight switches for insured mortgages has officially been lifted.

This means it’s easier to switch lenders without the usual stress tests. It could open doors to better mortgage options, especially if your renewal is coming up in the next two years.

To take advantage of this, consider working with a mortgage broker. They can help you explore a wide range of lenders and products, securing the best rates and terms to fit your specific needs. By planning early, you can make informed decisions and potentially save significant money on your mortgage.

Getting the Help You Need:

With interest rates fluctuating, navigating the mortgage landscape can be tricky. Whether you're a first-time buyer or a seasoned investor, I'm happy to connect you with a trusted mortgage professional who can answer your questions and guide you toward the best financing options.

Ready to explore your mortgage options? Contact me today to discuss your specific needs and learn how I can help you achieve your homeownership goals.

Jacqueline Ross, REALTOR®
Coldwell Banker Oceanside
250.415.5656
YourVanIsleHome.com
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Winterize Your Home: Energy-Saving Tips for the Cold Months: As the temperature drops, it's time to turn up the heat on energy efficiency. By implementing a few simple strategies, you can significantly reduce your energy consumption and lower your utility bills. Here are some tips to help you winterize your home:

Insulation is Key

• Seal Air Leaks: Use caulk and weatherstripping to seal any gaps around windows, doors, and outlets.

• Insulate Attics and Walls: Proper insulation can dramatically reduce heat loss. Consider hiring a professional for a thorough insulation assessment.

• Upgrade Windows: Energy-efficient windows can significantly improve your home's insulation and reduce heat transfer.

Heating System Tune-Up

• Schedule a Professional Inspection: A yearly inspection can identify potential issues and ensure optimal performance.

• Change Your Filter Regularly: A clean filter improves airflow and reduces energy consumption.

• Consider a Programmable Thermostat: Set specific temperatures for different times of the day to save energy.

Water Heating Efficiency

• Lower the Temperature: A slightly lower water temperature can save energy without sacrificing comfort.

• Insulate Hot Water Pipes: Reduce heat loss and improve efficiency.

• Fix Leaky Faucets: Promptly repair leaky faucets to conserve water and energy.

Smart Appliance Choices

• Energy-Star Certified Appliances: These appliances are designed to be more energy-efficient, saving you money in the long run.

• Unplug Electronics: When not in use, unplug electronics to avoid phantom energy consumption.

Lifestyle Habits

• Layer Up: Wear warm clothing indoors to reduce the need for higher heating temperatures.

• Use Natural Light: Open curtains during the day to maximize natural light and reduce reliance on artificial lighting.

• Cook Smart: Use the stovetop efficiently and consider using a microwave or slow cooker for certain meals.

By implementing these energy-saving tips, you can create a cozy and energy-efficient home while reducing your environmental impact. Remember, small changes can lead to significant savings.

If you’re ready to start your search for an existing energy-smart home? Search here: https://yourvanislehome.com/

Contact me for more tips and tricks on making your home safe, energy-efficient and ready for winter and beyond:

Jacqueline Ross, REALTOR®
Coldwell Banker Oceanside
250.415.5656
YourVanIsleHome.com
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