Something about home made goodness that brings us the nostalgia and comfort of our childhood. Village Ice Cream opened its first location in 2012 with a darling atmosphere focused around the simplicity of hand crafted ice cream tied together in modern woodland setting.
You are welcomed and enticed by the soft and warm smell of their waffle cones made fresh in-house at all three locations. Each location bringing it's own charm and character that connects the community with their diverse and fresh flavours. Included in their daily selection is a coconut milk option that caters to vegan or non-dairy friends and a lighter, cooler choice of sorbet. What we adore most, the 'date night' vibe no matter the company you're with. New friend, best friend, your love, mom, dad or a 'long time no see' kind of thing... Village brings us closer to the ones we love with a special meaning and memory behind each visit.
Hot off a South American motorcycle odyssey cut short by stress and fatigue, our founder Billy Friley found himself on his Grandma Gladys’ porch. This is where he discovered a life changing pint of rich, locally made huckleberry ice cream.
It was good. Life changing. Mind altering.
Enough to get him out of his funk so he could hightail it back to Calgary to create the freshest, creamiest ice cream Calgarians had ever tasted.
The very first Village Ice Cream opened shop in 2012 in a plain old building on an impossible to find cul-de-sac. An improbable place, hidden away against the railway tracks.
Five years and 3 locations later, Village remains in hot pursuit of cold perfection. Places for hand-made traditional ice cream in decidedly un-traditional shops. Places to gather, share old memories and create new ones. Places to wind down or rev up. Places to connect with fellow villagers. Or, you know, places to grab a quick pint of Salted Caramel for just you and a spoon—we get it.
We are all Villagers, so come on in
Buying a home with a down payment of less than 20 percent often requires mortgage insurance. Understanding how lender's mortgage insurance works, and what they may be expected to pay for it, is an important step for people interested in purchasing a home.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
What Is Lender's Mortgage Insurance?
People keep home insurance so that if something happens to their homes, they do not have to pay a lot of money out of pocket to fix it. Similarly, lenders keep mortgage insurance to protect themselves in the event that a borrower fails to pay back the loan. Lender's mortgage insurance (LMI), also called “mortgage default insurance,” provides the lender with a guarantee if the homeowner defaults. The organization holding the insurance policy provides the lender with compensation for the lost funds, and may also enforce the loan terms with the borrower.
How Is LMI Calculated?
Lenders look at LMI in terms of the risk presented by a particular borrower. People who put a lot of money in a down payment for a home are generally considered to have a lower risk. Home buyers with high-ratio mortgages, loans greater than 80 percent of the purchase price of the property, represent a higher risk for the lender. The amount of the LMI that the lender has to pay depends on the amount the borrower is financing, as well as the other aspects of their loan application. The lender pays for the insurance and often passes the cost on to the buyer. The total cost of the LMI represents a few percentage points, and is higher for those with the riskiest loans.
How Much Is Due at Closing?
Depending on the lender, home buyers usually have options for how they want to pay for the LMI. In many instances, buyers ultimately decide to have the LMI premium wrapped into their mortgage loans, to minimize their closing costs. They should keep in mind that this could increase their monthly mortgage payment, possibly by a significant margin. Many people prefer to pay the premium at closing, if they can. This helps avoid the additional cost of interest tacked onto the LMI wrapped into the loan. However people opt to handle LMI, they should see if they have to pay provincial sales tax on it, as well. That payment is due at closing.
Are All Loans Subject to LMI?
As a very general rule, any mortgage loan that has a down payment less than 20 percent could have LMI expenses attached to it. However, not every loan qualifies. For example, people who buy a home with a sale price over $1 million may not be able to get mortgage insurance for it. Loans that amortize over a period longer than 25 years do not qualify for LMI. In addition, although the lender opens the insurance policy, the buyer must qualify for it just like the mortgage. If the insurer rejects the borrower, the lender must find another insurer. In these cases, homeowners may be expected to make a down payment of at least 20 percent, or consider applying to a different lender.
The home buying process involves a number of expenses and fees related to the opening of the mortgage. Copperfield home buyers who make a smaller down payment may be subject to LMI, paid at closing or in the mortgage loan. Knowing what they will have to pay and when will help potential borrowers prepare for buying a home.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
How can Canadian home sellers successfully navigate a buyer's market? Learn about motivating buyers and handling the home selling process in a buyer's market.
Buyers may be at an advantage with more available properties in the market. This may force concessions from sellers in a buyer's market. However, sellers can still successfully sell a home in a buyer's market. Understanding how to navigate a buyer's market and what potential buyers may want will help sellers market and sell their home.
Understanding a Buyer's Market
There is often a surplus of housing in a buyer's market, a benefit to buyers as they have more properties from which to compare and choose from but potentially making it more difficult for seller's to sell quickly or attract multiple offers on a home. Sellers should be aware that certain behaviors may be more likely to occur in a buyer's market, such as that of including specific contingencies in a contract or inquiring about a price reduction.
What does this mean for sellers? Sellers need to stage and properly market their home, making repairs and upgrades in order to compete in such a market. That being said, it is still possible for well-appointed homes to linger on the market when similar properties are available, making it necessary for an affected seller to reduce their asking price in order to attract additional interest. Sellers may need to exert more patience when dealing with buyers who may want to get the best deal possible.
Learn About Contingency Clauses
Sellers should be aware that contingency clauses may be used in a real estate contract when selling a home. These clauses are actions that must be done within specific timeframes and serve to protect buyers and sellers. Such clauses are often included in contracts in a buyer's market and may not be seen as frequently in a seller's market. Performing a home inspection in a specified amount of timeframe is one of the types of actions that may be considered to be a contingency clause. In Canada, a sale and settlement contingency is often included in real estate contracts.
Successfully Sell in a Buyer's Market
There are ways to appear more attractive to buyers without reducing asking price. Sellers may choose to pay closing costs, allowing for potential homebuyers to have more initial cash on hand for other incidentals. In addition to this, sellers who get to know the local market and the type of buyers they hope to work with may want to make offers such as including major appliances, a nice consideration for first-time home buyers.
Working with a buyer's timeframe can help attract and motivate the right buyers to make an offer and go to closing on a home, such as closing before the beginning of the school year for buyers with schoolchildren. Sellers may want to take initial steps to get professional photographs of their home and have it staged in order to better market a Copperfield home on listing sites, helping improve traffic on a listing site and making for a better attended open house. These approaches can potentially increase offers and help sellers build good working relationships with ideal buyers in a buyer's market.
Pick the Right Agent and Plan Ahead
Choose a reliable and communicative local agent in order to better understand how to come out on top in a buyer's market. Be prepared for challenges and setbacks in the home-selling process—especially when complications arise—by planning ahead and being flexible with any selling expectations.
Taxes when selling a home can feel like a bit of minefield during a regular home sale to say nothing of selling a second/vacation home. The government isn't exactly looking to cut homeowners a break if they have enough money to buy more than one property. But thankfully, homeowners do have some options when it comes to navigating their vacation home taxes. See how it all works, and what strategies can be used to mitigate the financial repercussions.
For informational purposes only. Always consult with a certified tax expert before proceeding with any real estate transaction.
Facts on Capital Gains
A capital gain is the difference between what an asset was purchased for and what it was sold for, and vacation homes do not get a break on capital gains like primary homes do. Those in the top income brackets will pay 20 of the full appreciation of their home. The most common income rate is 15, which is still a fairly large chunk of the appreciation. The good news is that homeowners are allowed to deduct major renovation costs to the home as well as all closing costs (including real estate agent fees.)
Facts on Mortgage Interest
Homeowners were allowed to deduct mortgage interest on their taxes if they had accumulated debt that was under $1 million, but this was recently changed. Now, the limits are set at $750,000, which is an easy enough limit to meet when owners have more than one property under their belt. While technically a rule for those who still own their vacation home, it's worth noting when filing at the end of the year.
Facts on Depreciation
It can be tempting to claim high values of depreciation for those who claim rental income. The more depreciation, the less rental income a person has to declare. However, there's a risk in this strategy if the property value has steadily climbed. Those who claim a high level of depreciation will start with that number when calculating their capital gains. So if the property was originally purchased at $500,000, depreciated at $100,000 and then sold at $1 million, the capital gains will be taxed at $600,000 instead of $500,000.
Facts on Deductions
If the vacation home has gone up in value, an Altadore homeowner would be smart to concentrate on their deductions rather than their depreciation. What can be deducted can be tricky though, so it helps to talk to a real estate agent. For example, a homeowner can deduct major home renovations but 'major' is a vague enough term that homeowners should consult with someone who understands the specifics. Homeowners can also usually deduct the closing costs from the original purchase of the property, in addition to the real estate-related costs of the home sale.
Investors will sometimes make their vacation home their primary residence if their vacation home has risen in value while their primary residence has declined. In this case, homeowners can sell the primary and deduct their capital losses from their capital gains to avoid taxes. They can also then sell their vacation home turned primary home after two years so they can deduct $250,000 per owner from their home sale.
Understanding vacation home taxes is a matter of diving into the details of deprecations and deductions. The more effort a person puts into their home sale costs, the more likely it is they'll be able to reap the benefits of their vacation home appreciation.
For informational purposes only. Always consult with a certified tax expert before proceeding with any real estate transaction.
Once a buyer's has been accepted, the offer can only be rescinded under certain conditions and in certain circumstances. These conditions are known as contingencies. The contingencies are put in place to protect the home buyer. Every home buying contract includes information about contingencies, usually at the beginning of the contract.
Some home buyers choose to waive the contingencies to make an offer more attractive to the seller. Others leave the contingencies in place in order to reap the full benefits of the contingencies. Home buyers should be familiar with the contingencies to ensure that the home buying process goes well.
The financing contingency is important for anyone who will be getting a mortgage to pay for their home. The financing contingency allows the home buyer to walk away from the purchase if they are not approved for the loan. Without a financing contingency in place, the home buyer could lose money if they back out of the home buying contract due to lack of a mortgage. For a home buyer who plans to pay for a home in cash, a financing contingency may not be necessary. Home buyers paying in cash often waive this contingency.
Sale of Home Contingency
It's common for a homeowner who wants to buy a new home to put a sale of home contingency in their contract. The "sale of home" contingency allows a home buyer to walk away from the deal if he or she is unable to sell their current home. Sale of home contingencies are common, but many home sellers hesitate to agree to a sale of home contingency. Many home sellers worry that agreeing to a sale of home contingency could slow the sale process of their home.
In order for the loan to be approved, the home must appraise at or above the amount being paid. If the appraisal comes in below the offer price, the mortgage lender may reduce the amount being loaned to the buyer, and the buyer will have to make up the difference. If the buyer doesn't pay the difference, the seller must lower the price. If neither party will agree to do this, the appraisal contingency allows the home buyer to cancel the offer.
Most home buyers choose to get a home inspection. If the inspection turns up problems that the buyer wasn't anticipating, he or she can either require the seller to make repairs to the house. If the seller can't or won't make the necessary repairs, the home inspection contingency allows the Evanston buyer to cancel the contract.
Work With a Reputable Real Estate Agent
It's up to the buyer to either include or waive the contingencies in the home buying contract. Not all buyers know which contingencies to include and which to leave out, so that's why it's important to work with a reputable real estate professional. A good real estate professional can help a home buyer to understand the home buying contingencies, and include those contingencies in the contract.
If you're a home buyer who would like to start viewing properties, contact a real estate professional in your area today. He or she can walk you through the process of making an offer and can answer any questions that you might have about the home buying contingencies.
The selling paperwork for a home will look different depending on the province of the property's location. However, there are certain principles that sellers should understand before they sit down to organize it all no matter where they're selling. These documents can be both complex and time-consuming but the more prep work a seller does, the quicker their escrow will be. The extra effort may even make it easier for a seller to get the price they want.
Think Like a Buyer
Buyers are often so overwhelmed when they visit homes that they forget about properties immediately after seeing them. Too much information, and they'll tune it out. Too little information, and they may think the seller has something to hide. So it helps for sellers to boil down essential facts in the most memorable way possible. Property taxes, utility bills, renovation information: these are all practical documents that give a buyer a sense of what they'd be getting into.
Do the Research
A real estate agent is usually the best person to turn to when it comes to knowing what is required for a home sale. Each province has their own ideas of how a seller should present their property. In some areas, sellers will need to dig out the original property assessment on their home. In others, they'll need to hire a surveyor to state their professional opinion on the state of the property. Sellers may also need to stand in line at their local municipal office to obtain the tax assessment.
Put It in Writing
A Standard Agreement of Purchase and Sale form is usually prepared by the seller and agreed to by the buyer. In this document, the seller will list any exclusions or inclusions they plan to make based on formal negotiations. In Canada, all fixtures of the home are presumed to belong to the buyer unless specifically stated. All chattel in the home is presumed to belong to the seller, unless specifically stated. If a seller wants to take a chandelier or the buyer wants the old tools in the shed, it has to be listed on the form to prevent any disputes.
During escrow, the title company will be investigating the actual ownership of the seller. This is not as straight-forward as it may sound because disputes can pop up from any number of directions. A lender could have a lien on the property, a neighbor could feel entitled to the row of trees in the backyard, or an ex-spouse might claim that they own half the property. Instead of someone popping up after a buyer moves in, the title company does their legwork during escrow. Sellers should be as honest as possible to make this process go as quickly as possible.
Escrow can be delayed for any number of reasons. Title investigators go on vacation, inspectors get called away from emergencies, and weather can delay those last few renovations a seller has agreed to complete per buyer request. One thing a seller can do though to speed up the process is to make sure that the original paperwork and the final paperwork match exactly. Even small discrepancies can lead to long delays where all the paperwork needs to be redrafted.
Selling papers aren't as easy as hitting the bare minimums. Unless a seller is in a highly desired area, they may need to go the extra mile when it comes to proving the worth of their Chapparal home. These tips are designed to help them understand how to structure the data so they can transfer the home as efficiently as possible.
Those considering selling a home in Canada should prepare themselves for myriad possibilities during the process. Because of the complexity of the procedures involves such as legalities, paperwork, negotiations and costs to consider, first time home sellers may find the experience daunting. However, here are some points to ponder preparing the household for the process of selling a home in Canada.
Understand the Cost of Selling a Home in Canada
While the process may slightly differ, selling a home in Canada still involves various cost and fees that are standard industry-wide. Here are some of the costs that sellers should be prepared to handle.
Legal Fees and Disbursements: First time home sellers should give serious consideration to hiring a Canadian-based real estate attorney to facilitate transactions and official ownership. They can also create a statement of adjustment, which shows all the calculations that ultimately determine how much the buyer will pay to the seller upon closing. Fees will vary and tend to average between $500 and $1000.
Mortgage Penalties: Those with a mortgage locked in for a set term who plan to sell before the term expires can expect to pay a substantial discharge fee to ‘release' the collateral hold on the home.
Tax Considerations: Unless the home was used to generate income, the good news is that most Canadian residents won't find themselves facing a tax bill as long as they satisfy certain requirements under revised tax laws.
Real Estate Agent/Broker Fees: Be prepared to pay fees associated with hiring a professional real estate agent and/or a broker. The instillation of the Canadian Competition Act means that commission rates and structures are not standardized and must be negotiated between sellers and their representatives.
First Timers Should Think Long and Hard About Self-Selling
Clearly, those selling a home in Canada have bought an Auburn Bay home and have some familiarity with the process. However, there was likely a real estate expert involved to streamline this complex process. Evaluate the potential money that could be missed while trying to save on commission costs. Do you know how to properly price the home and add it reputable listing sites? Are you prepared to show the home, deal with inspectors, and handle the myriad of paperwork yourself? All of these perks and more are included when hiring a professional real estate agent.
The Vast Benefits of First Time Sellers Hiring a Pro
Hiring a real estate expert and a brokerage services is well worth the small percentage they charge in commission. These pros can help sellers:
Choose the best market conditions to sell within.
Find the best way to get the listing sold with multiple listing services.
Determine a realistic asking price and help explore ways to increase the home's resale value.
Prepare for open houses and showings if necessary.
Handle the home and legal paperwork and legal matters.
Arrange for surveyors and home inspections.
Decide whether conditional sales will be considered.
Don't lose out on getting every dollar possible out of your investment—call a pro.
Selling a Home in Canada for the First Time?
Those considering selling a home in Canada for the very first time should give strong consideration to contacting a local real estate professional who understands how properly market and get top dollar for homes.
Flooring is vital aspect of every home that is often forgotten about because it sits idly underfoot while supporting our every step. However, when it comes to investing in functional yet trendy floors taking the time to seriously consider the many home flooring options is a brilliant way to get optimal results. Homeowners looking for a few decorative flooring ideas to take traditional styles to a modern, contemporary level—read on.
Creative Concrete Flooring
Concrete floors gradually moved their way from being only visible within garages and sheds to becoming an increasingly trendy home flooring option. Though sometimes perceived as bland and unsightly,, concrete design has actually evolved concerning aesthetic possibilities. Today, concrete floors can be coated or stained with an array of colours, and patterns can even be stamped into them to create intricate patterns and focal points. Veneers can also be applied to create a simplistic, raw look that will complement most any decor. A few of the vast benefits of concrete flooring include:
Extreme durability with no need for resealing or polishing
Affordability due to minimal materials for installation
Low maintenance and easy cleaning
Easy to cover with other flooring or re-stain to different hues
Remarkable Resin Flooring
Hygienic, resilient, affordable and stain-resistant resin flooring affords even homeowners on a budget a classy way to spruce up floors. Resin can be applied directly over concrete surfaces and other types of solid flooring, and they are available in an unlimited variety of hues and stains. There are three primary types of resin used for home flooring.
PMMA Resin—Polymethyl Methacrylate resins create resilient and low maintenance floors that are far easier to upgrade and repair than other options.
Polyurethane Resin—PU resin applications are resistant to abrasions, impact, heat and most chemicals making them ideal for indoor/outdoor cooking spaces, garages and home workshops.
Epoxy Resin—Likely the most commonly used amid the three for industrial purposes, epoxy resin can create show-stopping floors within the home. While it's durable and low-maintenance, it has a long curing time, and inhaling wet epoxy fumes is hazardous. Furthermore, if it is damaged, the entire floor typically requires replacement.
Bounce Back in Style with Rubber Flooring
Commonly seen in gyms, playrooms and sound studios, rubber flooring is now a trendy, eco-friendly flooring that can add comfort to most any room in the home. Durable, super easy to maintain, cost-effective, and easily replaced, rubber flooring comes in several patterns, designs and color options. It's also stain and water resistant, but does succumb to oil, so it's best left out of kitchens and garage areas. Rubber is an exceptional choice because it's a non-skid surface that is super soft under the feet, making it easier on joints and bones in case of falls. While any children in the household can often bounce back quickly, every 13 seconds a Canadian senior is hospitalized from a fall, making rubber an especially elderly friendly flooring option.
Get Local Assistance with Choosing the Best Flooring
There's no one more qualified to help homeowners make a solid flooring decision than a local McKenzie Towne professional home improvement expert. Contact a reputable provider near you today.
Dipping a toe into the real estate market could be exciting and terrifying for a new buyer. Each step may be more detailed than the last, Using this guide will help buyers understand the basics of buying a home, from choosing a neighbourhood to getting a mortgage.
Figure Out Costs and Set a Budget
One of the first things home buyers need to settle is the money they need to buy a home. The price of a home can vary significantly from location to location, with big, expensive cities like Vancouver and Toronto skewing the national average. Home buyers may not need to have a 20 percent down payment to get a mortgage. There are mortgage options for people who can put as little as 5 percent down, depending on the size of the loan and other factors. Buyers should attempt to secure mortgage preapproval before they start shopping, as this will give them a very clear idea of what they can reasonably afford.
Identify Professionals to Help
The home buying process can be confusing, and it really is a big investment. This is why many buyers need to engage the services of various professionals. A lawyer can ensure that they are following all the steps correctly. A real estate agent can negotiate terms in the buyer's interest.
Find a Home
Searching for and choosing a home may be the most exciting, but also one of the most time-consuming parts of the buying process. Home buyers, particularly if they are buying a home together, should invest effort into determining what they want from a home, including:
number of bedrooms and bathrooms
proximity to shopping, dining, and entertainment
If people have all these preferences sorted out before they start looking, they can avoid wasting any time visiting properties that do not meet their needs.
Make a Purchase Offer
Once buyers have chosen a home that they would like to buy, they engage their real estate agent to help make a purchase offer on their behalf. Purchase offers are legal documents that, once agreed upon by the seller, create a formal contract for the sale. The purchase offer should include:
how much the buyer offers to pay
an earnest money deposit
any home buying contingencies the buyer must satisfy before closing the sale
deadlines for each step of the process
The seller, with input from their agent, can accept or reject the offer, or make a counter-offer. In in the instance of a competitive real estate market, it may result in a homebuyer needing to offer more concessions than anticipated.
Complete the Home Buying Process
Once the offer is accepted, the buyer only needs to resolve each contingency and complete the sale. These last parts of the buying process may include a home inspection, obtaining a title report, finalizing all mortgage paperwork, and then signing documents to transfer ownership. Although this part may seem fairly simple, it can take the longest. Buyers may need as long as 45 days or two months to check every item off the list. Some Coventry Hills home purchases could take less time, but it depends on the number of contingencies, and how difficult they may be to finish.
Buying a home is one of the most complicated things that a person will do in their lifetime. With a better understanding of each step of the home buying process, buyers know what they will have to do in order to find and take ownership of the homes they want.
The price of home upgrades often dictates which improvements homeowners can consider. People may not want to spend a great deal of money on updates that will not provide a fair justification for the homeowners through use, or after the sale of the home. These methods of increasing energy efficiency have an ideal return on investment for the people who have them, and some may even pay for themselves over time.
Assess Structural Efficiency
The efficiency of the Panorama Hills home's systems can be helped or hindered significantly by the efficiency of the structure itself. Many homes have air leaks, particularly surrounding doors and windows, that allow heated or cooled air to pass through the wall with ease. This can force a furnace or air conditioner to keep working to heat or cool, but not as effectively. Sealing air leaks is one simple way to help solve this problem.
Once all air leaks have been resolved, assessing the amount and condition of home insulation is another useful task. Adding insulation to parts of the home that need it, particularly in the attic, is a relatively inexpensive way to make the home feel more comfortable and even increase its resale value. Putting in more insulation is not usually difficult, and experts can often install different types of insulation on top of what is already there.
The appliances that generate heat or keep things cool consume quite a bit of energy to make it happen. That makes appliance efficiency the next logical step in creating a more energy-efficient home. Appliances that tend to use the most energy include:
washers and dryers
When homeowners are thinking about upgrading their appliances, they should consider purchasing appliances that have met the Energy Star rating. This means that the appliances are certified to use less energy than other models of the same type. These upgrades can help homeowners save money with lower energy use. They can also make a home more appealing to buyers, who are often looking for signs of greater home efficiency.
Lighting might not be the largest source of wasted energy throughout the home, but it could certainly cost less to use. In looking at ways to improve lighting efficiency, homeowners can expect lower costs in two areas. The first area is the purchase of the light bulbs and fixtures, and the second is energy consumption. Fixtures that are designed to work with light-emitting diode (LED) bulbs will use a tiny fraction of energy, compared to the traditional incandescent bulbs. LED bulbs are built to last for many years, which means that they may justify their purchase even without a consideration of energy usage. Efficient bulbs could use 70-90 percent less energy than other bulbs, which, in conjunction with green energy systems like a home solar panel system, could really add up over a period of years.
Limit Energy Vampires
Once people have gone through the larger items on the list of energy efficiency, they may not realize that there are still ways to save energy and money. The average home usually has a number of small appliances that continue to use a little bit of energy all the time. Adding a dozen appliances, plugged in constantly, 365 days a year could translate into a lot of unnecessary expenses for energy. Some appliances even use energy when they are turned off, giving them the name “energy vampire.” Homeowners can often improve their energy efficiency simply by using a power bar, timer, or other device that cuts power to an appliance when it is not in use. These tools may not cost very much, and so they might pay for themselves after only a year or two of use.
Research Financial Incentives
Decreasing energy consumption is something that everyone can enjoy, since it puts less pressure on the municipal or nationwide supply of energy sources like electricity or natural gas. However, making major improvements to a home's energy efficiency could cost a lot of money, even a significant proportion of a home's value. As a result, there are a number of financial incentives to help people who want to make their homes more efficient, whether they are improving an existing home or building a new one. Natural Resources Canada maintains a list of these incentives, some of which are available by province or city.
Improving a home's energy efficiency is a great way to save money year after year. If homeowners target their upgrades to the systems and structures that will give them the greatest benefit, they will appreciate a higher return on the money they spend.