Building Improvement into Your Mortgage

When prospectivee home buyers get into bidding wars trying to buy the home of their dreams, it can often price out those with lower incomes or first time home buyers with small down payments. In this type of market, it can be more beneficial to purchase a fixer-upper at a lower initial cost and then renovate the home to increase its value. However, the renovations can also be costly, which deters many buyers from taking on such a big commitment. To assist with the process, the Canada Mortgage and Housing Corporation, which issues government mortgage loans to those with down payments of less than 20 percent, developed the CMHC Improvements Program.

What Is the CMHC Improvements Program?

Under this program, the CMHC allows home buyers to include the costs of renovations into the amount of the mortgage. Qualified borrowers can borrow up to 10 percent of the improved value of the home to cover the costs of the renovations. The upgrades must improve the home itself, so new appliances will not be covered, as you may decide to take them with you if you decide to sell the house.

Benefits to the Home Buyer

This program can be a great option for first time home buyers who cannot afford to make a large down payment and fund renovations at the same time. It is also a great way to quickly build equity in the home, as the home’s value increases as soon as the renovations are complete. By rolling the costs into the mortgage, buyers can take advantage of the low interest rate. This is a much less expensive financing option; funding renovations and repairs with a credit card, personal loan or line of credit will cost the buyer a lot more in the long run as these options come with much higher interest rates. In addition, by increasing the value of the home, the homeowner will make a nice profit when he or she decides to sell the house later on.

Benefits to the Community

This program does not just help the homebuyer; it helps the entire community as well. When the value of one home in a neighbourhood increases, it improves the quality of the area. It can contribute to raising the value of other nearby homes as well. This can help those homeowners afford to make renovations, and the cycle continues.

The process of obtaining a mortgage and purchasing a home can be a daunting one. A qualified real estate agent can help. For all your Edmonton home buying and selling needs, contact Elisse Moreno at HomeTribe. Our talented team is standing by to help get you into your dream home.

The last half of 2015 was quite the time for Elisse Moreno and all of us here at Home Tribe! Not only was Home Tribe (our new app matching buyers to their ideal homes based on lifestyle) launched in Oct 2015, Elisse was also recognized at her office with two very prestigious awards:

• RE/MAX Excellence Rookie of the Year
• Executive Sale Club – given to RE/MAX Sales Associates whose paid commissions in a given year totalled $50,000 to $99,999. (sales from June -Dec 2015)

We want to thank everyone who helped us achieve such amazing success in 2015:

• This includes our many business mentors
• Our unbelievable clients who help us wake up everyday excited and ready to do more
• Our families including my husband Roberto Moreno and my father Wayne William Heine who is also a rockstar REALTOR is his own right.

2016 promises to be an even more exciting year – we hope you join us on our journey of helping enhance the Edmonton Real Estate market!

JUST THINK of what you could do with this newly renovated West Edmonton 2 bedroom, 2 bathroom condo. This modern condo features an open kitchen that leads into a large dinning room and living room area perfect for entertaining guests. From the living room, you can walk out onto the functional balcony for a breath of fresh air and a mid-summers BBQ. Inside is a lavish master bedroom with a walk through closet leading into a full private bathroom. There is also room for everything in the second bedroom which features a large, mirrored closet.  This condo is just a few green blocks away from Bessie Nichols School, a grade K-9 school  making this a great family neighbourhood. If your a busy person coming and going then not far away is the Anthony Henday Hwy and Whitemud Hwy for easy access to any edmonton location. This is definitely a must see condo! Contact Elisse Moreno and the Home Tribe team to learn more and view more details regarding this great South Hamptons condo seen here.

This past Wednesday, February 17, AWE hosted an all day entrepreneur learning event; “Alberta’s Best Leadership Day” at MacEwan University’s downtown campus. The day was filled with discussions on solving challenges and incorporating change into your business and industry to help reach greater success for all entrepreneurial thinkers. The program consisted of motivational talks from previous AWE Celebration of Achievement award winners as well as thought encouraged discussions, workshops, networking and paired time with experts. One of these experts was Home Tribe’s very own Elisse Moreno who was speaking out about Disruptive Idea-Building & Innovation alongside with Meghan Dear (Localize Your Food) and Robyn Henderson (Kids Uncomplicated).

For those that were unable to attend, we wanted to share some key highlights that we discussed during our panel time. 

One of the questions we were asked is: What does disruptive innovation mean to you?

Think of Uber , Netflix and even Thomas Edison who all began with the idea to change their industry, even RE/MAX who started as a single brokerage in 1973. All of these companies knew that to truly become a disruptive company they needed to re-look at a problem and think outside of the box (be innovative). I’m sure they all asked themselves, what creative or innovative tactics could they utilize to change their industries and strive for better. Often times, the truly disruptive companies emerge when they can provide: Better Quality, at a Faster rate and at a Reduced cost.

Once you are able to innovative and change an industry, the biggest risk for a company is to fall behind and not push further innovations in order to constantly improve their business. 

“A business has to be involving, it has to be fun, and it has to exercise your creative instincts” said Richard Branson, and he is right! Getting to the top of an industry is hard, but not until you get there does your real work truly begin. A company has to be constantly evolving and changing in order to remain a “game changer” in their industry.

Another important thing to note, is when is the right time to get started. We can all be perfectionists at times, however, it’s the “baby steps” that ultimately result in mega milestones down the road.

We couldn’t agree more with Marie Forleo’s statement: “The key to success is to start before you’re ready”. That leaves us to one final point – WHAT ARE YOU WAITING FOR? Let’s all go out there and make something (exciting) happen! We certainly will be. 🙂

Discover HomeTribe.ca on the Apple TV

The future of home searching is now here. Larger and better than ever!!!

Looking for a better way to browse for your next Edmonton home? HomeTribe.ca has done it again, bringing innovation to the forefront with their recently launched app for the Apple TV. What could be better than sitting on your coach skimming all the great real estate finds Edmonton has to offer.

Key features include: Available on 4th Generation Apple TV

• View listings in our most popular neighbourhoods
• Easily search for the desired communities you want to live in
• View Full Images and details on all listings
• Easily connect with our team to book a showing or ask a question

HomeTribe.ca is all about empowering people by offering innovative technology solutions for the home buying and selling process. We are extremely excited about launching our own custom app! How to find it? Simply search “Edmonton Real Estate” in the apple tv app store.

Any questions, feel free to connect with our team.

Valentine’s Day is a time of fun, flowers, romance and quality time spent with your partner. It’s also a great chance to search for that special place to spend an afternoon or evening with your loved one. Edmonton’s 104th Street is the hub of the city with historical attractions, great shopping and a degree of sophistication loved by locals and visitors alike. This makes it also ideal for an Edmonton Valentine’s Day date to remember! So what’s happening on the street to help you celebrate this coming Valentine’s Day weekend on 104th Street? What about these three fantastic suggestions to get you started.

Credo Cafe

This favourite cafe of Edmonton folk is more than just a place to grab a quick coffee. It is known as a place where all parts of the coffee experience are seen as an art form. With a range of the finest Intelligentsia Whole Beans (including Black Cat Espresso, House Blend and In-Season Single Origin Beans) and delicious fresh bakery products such as: muffins, cookies and the cafe’s famous carrot cake with cream cheese icing, this is a venue that is suited for a romantic coffee and cake afternoon. For more information visit credocoffee.ca

The Cavern

The unmatched Cavern wine and cheese bar is putting on a Valentine’s evening on Saturday the 13th of February that you and your partner won’t want to miss. A fabulous four-course menu for two for $80 ($150 with wine pairings) will be available from 5.30 to 8.30. Bookings are essential, so be sure to visit thecavern.ca for more details.

 Valentine Pairing: Chocolate, Spirit and Wine (just one block off 104th street)

For something really different why not try a wine, spirit and chocolate pairing event? Chocolate connoisseurs Jacek Chocolate Couture are partnering with The Chvrch of St John, an art bar to bring you a special Valentine’s Day-themed exploration of chocolate with wine, gin and whisky. Limited tickets are available for this one-off event. Visit the Chvrch of St John to get more information on booking and times.

Edmonton’s 104th Street is an eclectic mix of colour, atmosphere, culture and quirky cafes and restaurants. With a rich trading and cultural history, the Street has transformed itself into one of the “go-to” spots in Edmonton for entertainment, festivals and alternative shopping. The street also boasts the popular City Market and annual Al Fresco Block Party amongst its attractions. There’s no place better to explore and spend a wonderfully, romantic Valentine’s Day weekend with your loved one.

Welcome To Callingwood

IMAGINE the possibilities with this 2 bedroom, 2 bathroom condo located in the heart of West Edmonton. This bright, spacious condo layout simple makes sense. The alley kitchen leads to the dining room and living room featuring modern light fixtures and enough room to entertain. From the living room, step onto the nice sized balcony that boasts absolute privacy in the summer. Both bedrooms offer more space, with the master having enough room to fit a king size bed. The master bedroom also includes a nice walk-in closet and a 4 piece ensuite bathroom. Beyond the condo, did we mention LOCATION? Close to major routes, enjoy the amenities of what Callingwood has to offer. Minutes away from West Edmonton Mall, the weekly summer farmers market, grocery stores, schools, daycares and more… This is a must see condo! Contact Elisse Moreno and the Home Tribe team to learn more or view more details about this great new Callingwood listing here.