Calculate with confidence

Calculating a mortgage can seem like a daunting task, but it doesn’t have to be with the help of experienced real estate agent Riz Jadavji of Royal LePage Wolle Realty in Kitchener, Ontario.

Whether you’re a first time buyer or are looking to upgrade or downsize, mortgages are a necessary evil. The best thing you can do for both you and your loved ones is understand the ins and outs of your mortgage.

To better understand your mortgage there are a few terms and numbers you’ll want to familiarize yourself with. These are: the actual loan or mortgage borrowing amount, the annual interest rate, the mortgage amortization period (in years) and your mortgage term (in years).

In Canada, all mortgages are compounded semi-annually as required by law. If you’re quoted an interest rate of six per cent, your effective annual rate will be 6.09 per cent based on three per cent semi-annually. Considering your mortgage payments usually occur on a monthly basis, a monthly rate must be calculated based on an annual rate and in this case your monthly compounded rate works out to just under six per cent (5.926 per cent to be precise).

The length of your mortgage amortization period can affect how much interest you pay and the shorter the term the more likely it is for you to pay less in interest. Likewise, a mortgage loan with a smaller mortgage term (an example would be a period of 10 years as opposed to 15 years) and higher monthly payments can save you thousands if not tens of thousands of dollars over the long term. If you can afford to make higher monthly payments and can handle a shorter mortgage term, it’s something worth considering as the savings can be considerable.

Riz Jadavji of Royal LePage Wolle Realty in Kitchener has more than 10 years experience serving the Kitchener-Waterloo area and helping customers find their dream homes. He will work with you and your family to get top dollar for your property when selling and receive the best bang for your buck when buying. He’s even designed a nifty mortgage calculator to make it easier for you to understand the financials of your investment.

Give the professional and courteous real estate pro Riz Jadavji of Royal LePage Wolle Realty a call at 519-716-7253, send him an email, visit his Gold Book page, Facebook page or follow him on Twitter for more information and to stay connected.

We all know the “location, location, location” adage.  Its part of what buying real estate is all about.  But, what actually makes a location great?

According to Jay Walljasper, author of The Great Neighborhood Book, a great neighbourhood is about community.  It’s about knowing your neighbours, feeling safe, and having pleasant spaces to be together.

Walljasper’s book offers lots of ideas for making your neighbourhood a better place to live and for building a stronger community:

Know thy neighbours.  Sit on your front steps and say hello as people walk by.  Have a chat with the person who pumps your gas or the retired lady down the street.  You’d be amazed at how people open up to a little friendliness.

Create a great gathering spot.  A nice playground with benches and shaded areas is a natural place for residents to gather.  Communities across Canada have worked together to raise money via personal and corporate donations to build spaces kids and adults love.

Make it an event.  Whether it’s a neighbourhood barbecue, a Saturday street sale, or an organized trick-or-treating event for the kids, getting your neighbours together to do something fun builds friendship and community.

Walk more, drive less.  Get out and enjoy the neighbourhood instead of sealing yourself off in a car.  Encourage walking by lobbying the city to widen sidewalks, add crosswalks, and traffic calming zones.

Be neighbourly.  Shovel your neighbour’s walk when they are out of town, offer an afternoon of babysitting to the single parent down the street, or welcome a new neighbour with an invitation to coffee.

Take back the streets.  If you live in an area where crime is a problem, organize a neighbourhood watch and walk around.  If you see anything suspicious, notify the police.  Criminals are deterred when there are too many people around.

Shop local.  Supporting your local merchants will ensure they succeed along with the distinctive flavour they add to your neighbourhood.  If you don’t have shops in your area, it may be due to zoning restrictions.  Lobby your city council to change zoning so that retailers can set up shop.

Take pride.  Take care of your neighbourhood the way you take care of your own property.  When you go for a walk, bring a bag to pick up litter.  Plant flowers in public places.  Spruce up the park swings with some fresh paint.

Take advantage.  Enjoy what your neighbourhood has to offer.  Hang out at the coffee shop, go for a walk or bike ride, relax in the park.  A great neighbourhood is only great if you take time to enjoy it.

It takes work to make things better, but everything you do will pay off through your enjoyment of your community – and increased property values.  For more ideas, consult The Great Neighborhood Book.  It’s an excellent resource that could spark some greatness is your neighbourhood.

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By Kitchener-Waterloo Association of REALTORS® (KWAR) admin •January 6th, 2014

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We wish you and yours a relaxing, joyous holiday season and a happy new year!

Our 20th Christmas Classic raised $17,500 and over 2500 pounds of food for the Foodbank of Waterloo Region. Thank you to everyone who came out and supported us and great job to all the RLP Wolle Realtors for helping make this event happen!