Rent or Own Financial Calculator

Rent or Own Financial Calculator

Should You Rent or Own?  We have a financial calculator to help you determine which is better for you!

That is a big question. That depends on the rent you would be paying, the interest rate, the appreciation rate of properties in your community.

We are providing a Rent Or Own Financial  Calculator to help you figure this out. As of February 2016 a safe interest rate to use is 2.7% to 3%. See below for down payment information, but the minimum down payment is 5%. Typically the appreciation rate in the Calgary/Chestermere region is 3 to 5%. I know that we are in a very soft market, but I also know that this will turn around later this year or next. In the long term real estate always appreciates. Try it out!  Ignore the tax rate it does not apply in Canada.

Rent or Own  Financial Calculator

Rent or  Own

Is it better for you to buy or rent, this calculator analyse factors for you.

Is it better for you to buy or rent, this Rent Or Own Financial Calculator will help you determine which is best for your circumstances.  In Canada ignore the tax rate brackets as we do not write off interest payments of a residence.

There are many benefits to owning your own home.
*privacy- no one can call to give you 24 hour notice to walk through your home.
*Stability you cannot get a notice that your lease will not be renewed.
*Security-If you lose your job, you can take in a renter, rent it out, you generally will have 3 to 6 months before any action is taken to remove you from your home if you cannot afford to make payments. You can usually work something out with your bank. Miss your rental payment and you can be out on the street in 14 days.
*Credit worthiness, establishes your credit and shows that you are a better risk
*Leverage – your home appreciates for the full value, not just the 5% you have down. 3% annually on $300,000 is $9,000 compared to the banks 1.5% on $15,000 which would be $225.( I now that property values may be not appreciating as much right now, but on average in the Calgary area they go up 3 to 5% annually.)
*Your home reflects your personality, you can decorate, make improvements and repairs on your schedule not someone else’s.
*You can increase your home’s value with your sweat equity.



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Sunday, June 15, 2014 – Houses for Sale in Chestermere Expected to Weather Correction Worries

Sunday, June 15, 2014 – Houses for Sale in Chestermere Expected to Weather Correction Worries

Written by Marjorie McKay

A lot of economists are anticipating house prices in Canada to drop. The lack of data on the housing market available to the public is a cause for worry to those who expect that this can create a vulnerability in the economy, particularly when interest rates start to rise again. Brenda Bouw of Yahoo Finance Canada reports, however, that there are market experts who strongly believe that the market is doing fine, and that a good number of provinces will weather the effects of correction if and when it happens:

“Despite a few “lingering hotspots,” BMO Capital Markets senior economist Sal Guatieri says Canada’s housing market is “stable, if not boring, which is good in the face of dire warnings about a crash.”

He notes strong population growth and economies in Western Canada are supporting market in B.C, Alberta, Saskatchewan and Greater Toronto, while Quebec and much of Atlantic Canada are seeing more pressure.”

The market of local houses for sale in Chestermere, for example, are expected to continue to thrive, especially because it is conveniently located near the commercial center, Calgary. This proximity easily makes the town a very attractive location for both local and foreign immigrants who will flock into Calgary looking for jobs and homes. This is clearly a very good opportunity for Chestermere residents and property owners that are currently selling or are planning to sell houses.

People planning to put up Chestermere homes for sale would benefit in getting a licensed broker to help them sell their property in the least amount of time, and for the best possible price. Accredited selling representatives will do everything to make home sellers comfortable and confident on their decision to put their property on the market.

Professional brokers should be able to assist the sellers in setting their asking price for the property, as well as organise an open house for potential buyers to inspect the house, and accept an offer to buy. They will be preparing a listing agreement that covers the framework to guide the tone of the entire engagement, which outlines the timeframe to sell the property, broker’s compensation, and other financial information, like taxes, related to the property for sale.

Chestermere-based realtor businesses, like that of RE/MAX Real Estate Advocates, have been providing countless clients good advice on matters relating to selling their houses and homes. These reliable sales representatives help property owners wait for the right opportunity to sell in order to maximise the potential gains and returns of the transaction.

Citizens of Chestermere do not need to worry about the alleged impending drop in property prices and corrections. Fundamentals remain strong and demand for homes will continue to pick up.

(Source: Canada’s housing market over due for full-blown correction: economist, Brenda Bouw, May 21, 2014)


Sunday, June 15, 2014 – Houses for Sale in Chestermere Expected to Weather Correction Worries

Sunday, June 15, 2014 – Find your Perfect Chestermere Real Estate through Reliable Brokers

Written by Marjorie McKay

A lot of Canadian families are seeing a significant upbeat in the housing market, as Theophilos Argitis reports for The Washington Post:

“The share of Canadians who are predicting higher home prices in their neighborhood remained above 40 percent for a fifth week in the latest weekly polling by Bloomberg and Nanos Research. That’s kept consumer confidence levels at near the highest in four years, the data show.

Improving views on housing follow a recent acceleration in the real estate market in recent months that reflects a shift by policy makers at the Bank of Canada to dim expectations for rate increases as it plays down concerns over rising household debt to focus on stimulating the economy.”

Although real estate value is steadily rising, this does not discourage Canadians from acquiring real property. This high demand for homes can be attributed to the decision of monetary policy setters to keep key interest rates low, thereby giving people enough reason to borrow and purchase their own. Whether this development simply means that liquidity is high or, to simply put it, there are a lot of cash in the market, what’s important is that there’s no denying this is one of the best times for people to take out loans for their home purchases.Chestermere real estate brokers can definitely help homebuyers take advantage of this situation to get the best deals in the housing market.

Apart from that, brokers and agents make use of MLS in Chestermere and surrounding areas to establish contractual offers of compensation, facilitate cooperation with other broker participants, accumulate and disseminate information to enable appraisals, and make sure that there is orderly correlation of information. This tool makes it easier to match property sellers with potential buyers.

Homebuyers are also given all the necessary services like touring neighborhoods and making ocular inspections of available houses for purchase. Sales representatives and brokerage businesses, such as RE/MAX Real Estate Advocates, do this to help clients assess each property they are considering to buy. With the right agents by their side, buyers can be sure to get the house that matches both their needs and financial capabilities.

(Source: Real Estate Gains Keep Canadian Consumer Sentiment Near Highs, Theopilos Argitis, May 20, 2014)

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