Blog

What do you think of an investment that comes with the promise of long-term appreciation plus an immediate return?

It sounds like it may be worth looking into – right?

With interest rates at an all-time low and stocks and bonds seesawing between volatility and the doldrums, real estate investment has emerged once again as a reliable vehicle for those seeking to build wealth. It is the rental market in specific that is enjoying a renaissance of sorts. For a number of reasons, urban dwellers are drifting away from homeownership and toward the rental market.

For the first time in several decades, investors in Calgary real estate with a focus on the rental segment are realizing an immediate income stream while building equity at the same time. This is due largely to the low cost of borrowing money combined with high rental rates, low vacancy rates, and societal changes that are pulling people back toward city centers. The result is that thousands of renters are now living in single-family homes or owner-occupied single-family homes with brand new secondary suites.

On top of the economic and social conditions that favor the growth of the rental market, the City of Calgary has recently enacted building code changes that make it easier to create a secondary suite or legalize an existing suite. Many homeowners are using income from secondary suites to pay down their mortgage, supplement monthly income, and help elderly relatives and young adults in need of a private, but affordable space.

In doing so, they are also building equity and adding to the value of their property at the same time. Others are purchasing a second investment property and using the revenue from the investment property to pay down the mortgage on their residence.

To illustrate how this works, let us take the real-life example of a brand new Highland Park property valued at $750,000 with a $562,500 mortgage balance to see how the presence of a walkout rental suite together with the main house rental generates immediate value for the property owner.

Building Summary:

Completed Value of Home $750,000

Deposit $187,500

Mortgage Balance $562,500

Rental Summary:

Main House Rental (3 bedrooms 2.5 bath with garage) $2400/mo     

Walkout Rental (2 bedrooms, 1 bath with garage) $1600/mo.   

Combine this $8788 annual income stream with a mortgage principal pay down equal to $16,000 and a modest assumption of 1.5% annual appreciation and this property owner can boast of an investment yielding a 19% annual return – a healthy number by any standard!

If you are interested in becoming a real estate investor or if you are already an investor looking to enhance the value of your existing assets, work with an experienced Calgary Realtor. Returns like this sometimes only around only once in a lifetime. Do not wait too long.

Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

Canada’s low mortgage rates have been in the news for so long that they have essentially become the norm.  The 18 percent plus rates of the 1980’s are ancient history.  It seems that we have become so accustomed to cheap money, that we have forgotten that it might be temporary and just maybe, it may also become a thing of the past.  Although the Bank of Canada hasn’t given us any indication of a rate increase in the immediate future, it’s still important to use our (borrowed) money wisely and plan for the future.  After all, most of us are locked into 25-year mortgages, and we know just how much change can occur over two and half decades.

Be aware of how much a change in interest rates will affect your housing costs.  To put things in perspective, a $350,000 mortgage would cost the average buyer $1570 per money at a borrowing rate of 2.5%.  If rates went up just 1%, the same mortgage would cost $1750 per month.  That’s a $180 difference.  What’s even more significant is that same 1% increase would add an additional $54,600 to your cost of borrowing over the lifespan of your mortgage.

Take advantage without over extending yourself.  It’s hard to predict what will happen to interest rates over the next few years.  Even some of Canada’s most educated economists were surprised when the overnight rate went down instead of up.  That being said, it’s a wise idea to be prepared for a rate increase.  If your mortgage renews at a higher rate at the end of your current term, what will it mean for your household budget?  Do you expect your income to be the same, or are you planning on starting a family?  Talk to your mortgage professional about your long term plans so they can choose a financing option that meets your needs.

Take advantage of your pre-payment options.  The best way to protect yourself against a future rate increase is to decrease the size of your mortgage.  Some mortgages allow you to increase your payments each month, or make a lump sum payment up to a certain percentage of the balance.  In most cases, it makes more sense to tackle your higher interest debt first, but if your credit cards are clear, you will never regret knocking a few thousand dollars off your mortgage.  Remember, the quicker you pay it off, the more you will save in interest over the long haul, and that could amount to tens of thousands of dollars in savings.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

You’ve found the perfect home, made an offer, and signed the deal! The hard work is done, right? Not so fast. There are a few important things to keep in mind before closing to make sure your new home purchase goes exactly as planned.

Get your paperwork ready. If you haven’t done so already, you’ll need to provide all the necessary documentation to your mortgage lender. They will need a copy of the signed purchase and sale agreement, as well as the paperwork that verifies your income. This can include tax returns, T4’s, a recent paystub, and anything else that is relevant to your type of employment.

Don’t make any large purchases or apply for additional credit. Keep in mind, your mortgage approval is based on your financial situation at the time of your application. Even though it seems obvious, some buyers do make the mistake of switching jobs, racking up a loan, or purchasing a car right before closing. Big changes in your financial situation could void your mortgage approval.

Have your down payment and closing costs ready to go. Your lawyer will require a bank draft at the time of closing to cover your legal fees and the remainder of your down payment. Make sure your funds are in an accessible account so that you can retrieve them a day or two before closing. If you are withdrawing from an investment account or an RRSP, move the money as soon as you can to avoid delays.

Organize your move and set up your utilities. Hiring movers? Call around ahead of time to get a few quotes, and make sure the company you choose is available on your moving day. If you are moving into a condo, book the elevator with the building’s superintendent. Next, make sure all the utilities are set up in your name.

Book an appointment with your lawyer. Your lawyer will need you to sign off on a pile of paperwork for the lender, verify your ID, disperse the funds, and hand over the keys to your brand new place. After that, you’re all done! Welcome, home.

 
Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at GreetingsCalgary.com.

 
About Shirley Wright

Like everyone, I have been involved in real estate my entire life! Like you, I grew up in a home! My husband and I purchased our first home in 1998, and since 2001 I have been assisting my husband, Bryon Howard, in our real estate investments and his work as a Top Producing Sales Professional.
I assist sellers and buyers meet their goals, efficiently and have fun doing it.
To serve you better, I network daily with top producing REALTORS in various markets across North America, keeping abreast of the many and varied trends and cycles of real estate.
I look forward to serving you to help you find what you want in our exciting city. Please take some time searching my website www.GreetingsCalgary.com. Many of my clients have advised that the search engine incorporated here is very user friendly.

I would like to take the opportunity to introduce one of the newest members of the Howard Team.  For some of you, she might be a familiar face.  I’m pleased to announce that my wife, Shirley, has made the move into real estate.  Shirley acquired her real estate license at the beginning of this year, and some of our buyers and sellers have already had the chance to work with her.

Coming from a background in music and education, Shirley is passionate about teaching our clients everything they need to know about their real estate transaction.  After graduating from McGill University with a Music Degree and then doing an Education Degree at the University of Prince Edward Island, music has been at the heart of Shirley’s teaching career.  She has been teaching music for 22 years and over the last 10 years, she has been employed by the Calgary Board of Education.  Shirley is an accomplished cellist and performs with the Calgary Civic Orchestra.  She has shared her love of music with countless students and also provides cello lessons at a private music school.  To add to her list of accomplishments, Shirley is also bilingual.

For many people, buying or selling a home is a learning experience.  Even though our clients hire us to represent their best interest in the transaction, they still want to have a strong sense of awareness each step of the way.  After all, buying a home is one of the most important decisions that you make in your life.  Shirley prides herself in providing exceptional customer service, and will take the time to answer all of your real estate questions.

As always, we appreciate your business and your referrals.  Shirley and I look forward to assisting you with your real estate needs.  Have questions about selling your home?  Thinking about making a move in the near future?  Don’t hesitate to get in touch.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

As part of my customer service to my sellers, we ask that our buyers are pre-qualified. We have made it easy for you to get pre-qualified by visiting https://www.mlenow.ca to get step #1 of our process started. In less than 3 clicks you will be on your way to pre-qualifying yourself … and will be closer to your new home!

I would consider it an honor and a privilege to work together with you to achieve your real estate goals! Please feel free to contact me on my cell at 403-589-0004, or visit my Web site at http://www.TheHowardTeam.net for more information.

Facebook: https://www.facebook.com/LivingInAltadore
Twitter: https://twitter.com/Calgary_Realtor/
Google+: https://plus.google.com/+BryonHoward/

“St Mary’s High School” by User:Thivierr – Photo taken with digital camera by User:Thivierr, who uploaded to English Wikipedia first, and then later to Commons.. Licensed under Public domain via Wikimedia Commons.

Families with young kids are drawn to the Altadore neighbourhood because there are a variety of great schools nearby.  The Altadore School is a public elementary school that accommodates kids from kindergarten to grade 6.  There are approximately 240 students and this school features an award winning naturalization area called “The Owl’s Nest”.  Students will go on to attend Mt Royal Junior High School for grades 7-9.  Central Memorial High School is the designated public high school for the area.  This school boasts an excellent theater program.  They are also affiliated with the National Sport Academy which provides additional training and resources for athletic students.

The St. James Elementary and Junior High School is the designated school in the Catholic stream.  Students will go on to attend St. Mary’s High School or Bishop Carroll High School.  Bishop Carroll differentials itself with a self-directed learning program.  Students who attend Bishop Carroll have the freedom to customize their curriculum to accommodate their personal goals, learning objectives and future plans.

There is an international French school as well as five other private schools in the Altadore area.  Rundle Academy is the leader in individualized learning for students with learning disabilities.  This school offers additional support and creative learning techniques to help students overcome difficulties with reading, writing or mathematical learning challenges.

Post-secondary students living in the Altadore area, who are planning on attending Mt Royal University, will be able to take advantage of the convenient 10 minute drive to school.  Mt Royal University provides applied degrees, career diplomas, as well as certificate programs.  The University of Calgary, which is about 15 minutes away, is another highly sought after institution.  They offer over 200 programs and are considered to be one of Canada’s top research universities.  The engineering and geoscience programs are constantly raising the bar for Calgary’s petroleum and geoscience industries.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard is a top-producing real estate agent with RE/MAX House of Real Estate in Calgary, Alberta. He and his team sell an average of two homes a week–mostly single-family homes, luxury homes, condos and commercial properties. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. Bryon is above the pack because he aims not just to please clients but to help them buy/sell their dream home in Calgary at the best price, in the shortest time, and with the least hassle. He is well-equipped to do this with his sterling education, capped by an MBA degree from Athabasca University and degrees from Acadia University, the University of Prince Edward Island and the Universite de Bourgoyne in France.

Planning on heading out to enjoy some of the summer festivals this year around Calgary? There are so many great events to choose from. Although nothing can quite stack up against the Stampede, each festival offers its own unique selection of food, vendors and entertainment.

Kicking off the summertime is the Lilac Festival, held on Sunday, May 25th . This one day celebration takes place on 4th Street between 13th Ave South and Elbow Drive. With spring in the air, it’s a great time to shake off the winter blues and come out for the parade and a full day of family entertainment.

In June, the Father’s Day Festival is taking place on 8th Ave between 4th and 7th . The street will be closed for pedestrian access only during the Father’s Day weekend and there will be street performers, live music and a cool car show.

The Banff Bike Fest, taking place on June 12th to 15th , is the perfect excuse to head out of town. Cycling enthusiasts will have a chance to participate in one of seven competitive and non-competitive races. There is over $20,000 in prize money up for grabs this year.

Craving some authentic souvlaki? The annual Calgary Greek Festival welcomes over 10,000 guests at the Hellenic Community Centre. This festival takes place on June 21st to the 23rd this year.

Ready for patio season? The Kensington Sun and Salsa Festival is the place to be on July 20th . This year marks the 21st anniversary of Kensington Village’s annual festivities. Visitors can sample a wide variety of salsas, shop from the street merchants and enjoy one of the many local restaurants.

This year’s Ironman 70.3, being held on July 27th , was so popular, it actually sold out. If you were lucky enough to get a spot in what is considered to be one of the most challenging and scenic Ironman courses, you are in for an exciting and memorable day.

You don’t need to go all the way to New Orleans for Mardi Gras – you can find it right here in Marda Loop! This family festival takes place on August 10th . The Kids Quarter will have bouncy castles, games and face painting. Check out the Art Tent to see some of our local talent on display.

Looking for your next favorite restaurant? The Taste of Calgary is a one-stop-shop where you can sample the best cuisine from local vendors. The event takes place from August 14th – 17th at Eau Claire Festival Plaza. Guests can purchase $1 food tickets that they can redeem for tasty snacks and beverages from over thirty local establishments. This is a great way to try something new and discover a whole bunch of great restaurants at once.

If you are planning on staying in the city for the August Long Weekend, you will want to check out the Dragon Boat Festival at Glenmore Reservoir.  This even draws hundreds of competitors who have been training hard all summer to be the fastest team on the water.  This exciting cultural event celebrates the ancient sport of dragon boat racing and has plenty of entertainment to make it worth spending the day.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard is a top-producing real estate agent with RE/MAX House of Real Estate in Calgary, Alberta. He and his team sell an average of two homes a week–mostly single-family homes, luxury homes, condos and commercial properties. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. Bryon is above the pack because he aims not just to please clients but to help them buy/sell their dream home in Calgary at the best price, in the shortest time, and with the least hassle. He is well-equipped to do this with his sterling education, capped by an MBA degree from Athabasca University and degrees from Acadia University, the University of Prince Edward Island and the Universite de Bourgoyne in France.

My wife Shirley and our son playing frisbee

My family is one of the things in my life that inspires me to work hard, take care of myself and do my best in everything that  I set out to do.  Even though our kids are getting older, my wife and I like to spend time with them whenever their busy scheduels and our allow.  We appreciate the great outdoors together by going hiking, kayaking, or just a walk with our dog Max in the local parks.  We try to go cross country skiing a few times a year.  After a busy day, we all realy enjoy a meal together at home as a family.  The time that we spend together creates lots of great memories and allows us to talk and enjoy each other’s company.

My son is especially good  at reminding my wife and I about the importance of our connections with our friends and family.  Like everyone else our lives get busy with work and other obligations, and he will freuquently ask a question –  making sure that we take the time to connect with the people that are important to us.  Sometimes our kids need to remind us where our real priorities lie when we get caught up in the details of our daily lives.

One of the best things about living in Calgary is that there is no shortage of activities that you can do as a family.  Whether your family enjoys outdoor activities, theatre, or science – there is something for every age and activity level.  Each season brings new opportunities for adventure and trying to keeping up with the kids is sure to keep you feeling young at heart.

If you are looking for an exciting event this spring, The Calgary International Children’s Festival is taking place May 21st to the 24 th .  This is a great family event that offers live shows, open air activities, and a toy theater.  Bring your kids to get their faces painted and enjoy all the lively entertainment that this show has to offer.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard is a top-producing real estate agent with RE/MAX House of Real Estate in Calgary, Alberta. He and his team sell an average of two homes a week–mostly single-family homes, luxury homes, condos and commercial properties. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. Bryon is above the pack because he aims not just to please clients but to help them buy/sell their dream home in Calgary at the best price, in the shortest time, and with the least hassle. He is well-equipped to do this with his sterling education, capped by an MBA degree from Athabasca University and degrees from Acadia University, the University of Prince Edward Island and the Universite de Bourgoyne in France.

As an Altadore real estate professional, it is important that I am connected to my community.  I have had the opportunity to sit on the board for the Marda Loop Communities Association.  This association manages the facilities, community events and other recreational activities in South Calgary, Altadore-River Park, Garrison Woods and the commercial district of Marda Loop.

This association assists in the issues surrounding neighbourhood planning, parks and transportation in the community.  They are also responsible for an extensive calendar of activities for kids, adults and seniors.  If you are new to the Calgary area, this is a great way to fill up your social calendar with some great fitness classes and educational events.  Be sure to stop by the outdoor pool or the ice rink depending on the season.

This non-profit association has been operating for over 40 years by a group of dedicated and hard-working volunteers.  They commit their time and talents to improving the neighbourhood life in Calgary.  If you are looking for a great way to meet new friends and get involved with your community in South Calgary, consider volunteering for the Marda Loop Communities Association.  They are always looking for extra helping hands to assist with planning, volunteer during the events, or help out with many of the children’s programs.

Although I no longer sit on the board for this association, I still enjoy participating in their community events.  The Indulge Event, held every spring, is a fantastic food and wine expo that brings many residents together.  The event gives restaurants in the Marda Loop area a chance showcase a sample from their menus.  There is a silent auction followed by a live auction later in the evening.  This event is not to be missed, and I look forward to seeing you at Indulge 2014.  Please feel free to say hello and let me know if you have questions about the Altadore real estate market.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard is a top-producing real estate agent with RE/MAX House of Real Estate in Calgary, Alberta. He and his team sell an average of two homes a week–mostly single-family homes, luxury homes, condos and commercial properties. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. Bryon is above the pack because he aims not just to please clients but to help them buy/sell their dream home in Calgary at the best price, in the shortest time, and with the least hassle. He is well-equipped to do this with his sterling education, capped by an MBA degree from Athabasca University and degrees from Acadia University, the University of Prince Edward Island and the Universite de Bourgoyne in France.