3 Tips to Host Thanksgiving in Your New Home

Wondering how your new home will hold up to hosting a celebration for a holiday like Thanksgiving? Even though Thanksgiving is just around the corner, it’s a fantastic opportunity to get your friends and family together for a party in your new place!

Hi there, folks! Real estate isn't just about houses and numbers; it's about finding your dream home or making a smart investment. If you're in the market for a new place in Lloydminster, Canada, buckle up because we're about to break down some real estate stats that will help you make savvy decisions.

Key Market Stats

What's the Price Tag? The median home price in Lloydminster is sitting at a cool $244,950. That's a sweet spot for those looking to jump into the property game.

Time on the Market: On average, houses are hanging around for about 83 days before they get scooped up. So, no need to rush – take your time finding "the one."

What's in Stock: With 32 properties recently sold, the market's buzzing with activity. There are plenty of options for you to explore.

What It All Means

For Buyers:

Lloydminster is saying, "Come on in!" The prices are competitive, and the average time homes spend on the market suggests you've got some room to negotiate. Take your time, do your homework, and find that perfect place.

For Sellers:

If you're selling, things are looking pretty stable. Most homes are selling close to their asking price, with a 93.76% Sales Price to List Price ratio. So, make sure your property shines, price it right, and you'll attract some eager buyers.

For Investors:

Investors, listen up! Lloydminster's real estate scene is alive and kicking. With the market's steady performance and good rental potential, it's a playground for those seeking long-term returns.

Tips and Tricks:

1. Chat with a Local Pro:  Real estate can be a wild ride, so consider talking to a local expert who knows the ins and outs of Lloydminster's market.
2. Money Matters:  Buyers and investors, explore your financing options. There might be some sweet deals waiting for you.
3. Curb Appeal is King:  Sellers, don't forget to spruce up your property. A well-maintained and nicely staged home can work wonders.

Got questions about Lloydminster's real estate scene or itching to see what's available? We're here to chat, provide expert advice, and help you find your next home sweet home or investment opportunity.

The Lloydminster real estate market is where dreams meet reality. With affordable prices, a balanced market, and a healthy pool of properties, there's something for everyone. Keep your finger on the pulse of the market, and remember, a local expert is your secret weapon. Your real estate adventure is about to get exciting!

Don’t Ignore These Threats to Your Home

Buying a home is one of the largest investments you’ll make–so it’s important to make sure that it remains a high-value investment! Keeping your property value high is one way to protect your investment and ensure that, when you decide to sell your home down the road, you’ll make the maximum profit. 

Do This Before Buying a Home with a Partner!

Going through the homebuying journey with your partner can be a relationship-building experience, but it can also be a challenge! Buying a home, especially for the first time, is a complex process with different moving parts and a lot of money–this can be a recipe for a stressful situation for many people.

The secret to smooth out some of those bumps in the road before they happen? A money date! Going on a money date is a great way to get on the same page when it comes to buying a home.

To go on a money date, set aside a specific time that’s just for talking real estate. You may also want to gather your financial documents and budgets beforehand so you can focus on making decisions together (rather than routing around old paperwork).

When you’re ready to get started, grab some coffee or your favourite beverages and get talking! Here are a few of the things you should cover during your money date.

- Budget: Sit down with your monthly income vs. expenses and then get really clear on how much you can spend on a home. This is the time for both of you to be really honest about what you can comfortably afford and to get on the same page when it comes to expenses.

- Credit Score & Debt: Take a look at both of your credit scores and then any debt that you may have. Decide if you need to pay down debt or work on boosting your credit before starting the house-hunting process. Having a high credit score and low debt-to-income ratio can help you get a lower interest rate on your mortgage, so this is definitely worth discussing!

- Mortgage Amount: Once you both understand how much you can afford and your financial situation, discuss how much you’re planning to spend on a home. You might find that your partner has a very different idea of how much they want to spend, so it’s good to get on the same page here.

Having a money date with your partner before starting the home buying process is a great way to ensure that your real estate experience is a smooth one. By discussing the money stuff that comes with buying a home beforehand, you’ll avoid those common pitfalls and will be more effective by working towards the same real estate goals.

Lloydminster, AB/SK – Halloween is just around the corner, and the City of Lloydminster and the Lloydminster RCMP want to make sure that everyone has a fun and safe time. Here are some tips to help keep you and your loved ones safe while trick-or-treating.

Tips for trick-or-treaters

• Pick brightly coloured costumes and use reflective tape or glow sticks to be more visible to drivers

• Wear makeup instead of a mask. Masks can impair your vision and hearing. If you wear a mask, remove it while walking from house to house and crossing streets.

• Avoid costumes that are too big or have long dangling pieces that can be tripped on 

• Depending on the weather, choose costumes that fit well and can be worn over warm clothing to protect against the cold and wet weather

• Always walk on sidewalks.

• Stay on one side of the street. Safely cross the street to the houses on the other side. Don't crisscross back and forth.

• Stay on the doorstep or sidewalk. Never go inside the home or car of someone you don’t know.

• Have your guardian check your treats before eating them.

• Be accompanied by a trusted adult, or travel in groups if you’re unsupervised.

Tips for homeowners

• Keep porch lights or external security lights on.

• Keep doors clear and accessible and avoid decorations that are flammable or pose a tripping hazard.

• Don’t invite children inside your home.

• Only pass out commercially wrapped candy and snacks.

• Keep pets indoors as they may be easily scared by children in costumes.

Tips for motorists

• Watch for children walking on roadways, medians and curbs.

• Be careful when crossing driveways and always watch out for moving vehicles.

• At dusk or later in the evening, watch for children in dark clothing, as not every ghoul or superhero wears brighter clothing.

Remember, safety comes first!

The City of Lloydminster and the Lloydminster RCMP wish all in the community a safe and ghoulishly good Halloween!

As you go through the home buying process, your lender is there to help. But they're more than just a great resource and your ticket to homeownership–they can customize your loan to your situation.

In today's video, you'll learn about the 3 things you should tell your lender so they can get you a personalized loan that works for your situation. Want more tips like this? Get your free copy of the Buyer Guide by commenting "buyer guide" below!

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Many buyers and would-be-buyers have the same question when it comes to interest rates and their relation to housing prices. They often ask what will happen to housing prices if interest rates go back down. The short answer is that housing prices will rise along with buyer competition. Let’s go into why this will happen.

First, remember that the real estate market is all about balance. That balance is based on the economic principle of supply and demand. When supply is low and demand is high, prices will increase. When supply is high and demand is low, prices decrease.

Right now, we’re in a period of increased interest rates for mortgages and other loans as you have probably heard much about. During COVID and the following recession, interest rates were dropped to historic lows to stimulate the economy. Many people went out and bought houses to take advantage of these low rates, which created a white-hot housing market where demand was high above the available supply. As a result, housing prices skyrocketed.

In 2022, inflation became a problem and the Bank of Canada started to raise interest rates to curb the amount of money moving through the economy. Since then, interest rates have risen pretty steadily. As a result, the housing market cooled slightly.

Because interest rates are now higher, many potential buyers have started to put off buying. This has decreased demand for homes, and–you guessed it–has either made home prices plateau or decrease depending on the area’s market.

But when interest rates go back down, buyer demand will certainly increase. Following supply and demand, the increased demand will make home prices rise–along with the competition to snag one of those homes.

At the end of the day, the real estate market will always be in flux because of supply and demand and outside market forces. This shows that there will never be a “perfect” time to buy for everyone. Instead, the right time to buy depends on your specific financial situation and where you are in your life. If it makes sense for you to buy a home now, then go for it! You can always refinance to a lower interest rate down the road.

My advice will remain the same: buy a home when it’s the right time for you. If you need help to see if now is the right time for you to buy, reply to this email and let’s talk!

Harpreet Christie
RE/MAX of Lloydminster
780-205-7653

With the autumn season approaching, now is the perfect time to do a few projects around the house and get your space looking great before the rush of the holidays. One of the best ways to take a room from dinghy or dated to fresh and bright is through paint! 

When sellers ask how to boost their home’s value, painting is one of the first suggestions offered. That’s because the way a room looks and feels is entirely dependent on the colour of the walls and ceiling. Now that you know why painting is such a great fall home project, you’ll want these 8 painting tips to make the painting process as easy as possible. 

• Safeguard belongings: Take all of the easily moveable things out of the space with a focus on anything breakable or fabric. While no one wants an accident to happen, it’s better to be safe than sorry!

• Fill holes: Look over your walls and find any holes from hangings that need to be filled. For small holes, spackle or drywall compound will do the trick.  

• Repair cracks: Check out your walls and ceiling for any cracks and patch them up. If you find any large cracks, it’s a good idea to get an inspector to check them out.

• Add caulk: Next, take a look at anywhere caulk is applied (baseboards, windows, door frames) and caulk anywhere there’s a gap. 

• Clean and prime: Don’t skip this step! Cleaning and priming your walls will make the actual painting part go so much faster and you’ll use less of your paint–saving money in the long run. 

• Tape it all up: Once your walls are dry and ready to go, tape it up and drape tarps/drop cloths over any large pieces of furniture.

• Gather your supplies: You’re nearly ready to paint. Make sure to gather all your supplies into the room to make everything easily accessible. 

• Paint!

These tips will help you make your space look like it was painted by a professional without the expense. With just a gallon of paint or two and a little time, you can refresh your home and make it the space to be as the weather gets colder. 

Harpreet Christie
RE/MAX of Lloydminster
780-205-7653

Budgeting for a mortgage can be tricky, especially for first-time homebuyers. It can feel pretty abstract and complicated, but it’s so important to know how much mortgage you can afford before you start the home buying process. Luckily, it’s pretty easy to get a rough estimate of how large of a monthly mortgage payment you can afford. Just follow these 3 simple steps to find out your mortgage payment ceiling.

1. Step 1: Calculate your gross monthly income. Sum up all of your (and your partner’s, if applicable) monthly income before taxes. Think about your day job, side hustle, and investment income for this. Since this is what your mortgage calculation will be based off of, make sure that what you’re including in your monthly income is at least what you expect to earn in the next few years. For example, let’s say that your family brings home $8,000 per month before taxes. 
2. Step 2: Multiply your gross income by 0.36. Generally, lenders won’t give you a mortgage that is more than 36% of your gross income. By finding this number, you’ll get a feel for the ceiling of what your mortgage payment could be. From our example with an $8,000 monthly income, multiplying by 36% gets you $2,880. 
3. Step 3: Subtract your monthly debt. If you have any car payments, student loan payments, credit cards, or any other debt that you’re paying off, subtract it from the number you got in step 2. This will make sure that you’re not overextending yourself on debt payments and your mortgage payment. For example, let’s say that you have $1,200 of monthly debt. Subtracting that from $2,880 gives you $1,680. 

After you complete step 3, you have the final monthly mortgage payment that you can afford. Keep in mind that this number reflects the most you can afford for your mortgage, which should include the house payment, interest, taxes, HOA fees and anything else that will be wrapped into your payment. This estimate is handy to have to see how your budget stacks up against the homes that are available in your market so you can see if you need to adjust your budget or what you’re looking for in a home. 

If you’re ready to seriously dive into the real estate market and want more than a rough estimate of how much you can afford, you can talk with a lender about getting pre-approved to buy a home. Want to talk more about how you can buy a home in our market? Feel free to reach out to me anytime.

Harpreet Christie
RE/MAX of Lloydminster
780-205-7653