ROB CARRICK

The Globe and Mail

Many rookies homebuyers make mistakes.

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Read: Homebuying takes plenty of homework

And the majority of past buyers—when asked about their first house purchases in a TD survey from August 2012—said there were three things they would have done differently:

• More than half would have put together a more thorough budget that included all possible costs of home ownership (60%)
• The majority would have increased their down payments to 20% of the home’s value (60%)
• Many would have bought sooner (55%)

Read: Helping first time homebuyers

Before clients jump into the process, however, help them decide if the time is right. The survey finds the top reasons people decide to buy are because they’re sick of paying rent...

Adding value to your home is the number one concern for most homeowners. It doesn’t matter if you’re prepping to sell or looking to build long-term equity, knowing the right renos to invest in is important to ensure you get the most bang for your reno buck.

5. Flooring 
Ever wonder about the number one request from both homeowners and tenants when they’re looking for a home? Hardwood floors. And why not? Hardwood looks amazing, is timeless and is incredibly durable. It’s also expensive, so it’s wise to weigh your options before shelling out big bucks for the big impact that hardwood delivers. You can go with traditional hardwood or engineered hardwood, or if hardwood isn’t what you’re looking for...

Writing a competitive offer when buying a home allows you to get your offer accepted. The first time.

Having a Realtor on your side who not only knows the local community and its housing market, but also how to help offer you advice on writing a great offer the first time is key.

It’s not just about being the “highest bidder” when writing offers, but rather the bidder who offers a competitive price and places the fewest restrictions on that offer. Think of it this way, as the seller, you prefer to work with less demanding bidders over those who may offer the highest price but have strings attached with the contract. So, when you write your offer with your Realtor’s advice and expertise, you need to do so with the seller...

Every homeowner must pay for routine home maintenance, such as replacing worn-out plumbing components or staining the deck, but some choose to make improvements with the intention of increasing the home's value. Certain projects, such as adding a well thought-out family room - or other functional space - can be a wise investment, as they do add to the value of the home. Other projects, however, allow little opportunity to recover the costs when it's time to sell.

IN PICTURES: Home Renovations That Don't Pay

Even though the current homeowner may greatly appreciate the improvement, a buyer could be unimpressed and unwilling to factor the upgrade into the purchase price. Homeowners, therefore, need to be careful with how they choose to spend...

TARA PERKINS - REAL ESTATE REPORTER

The Globe and Mail

Finance Minister Jim Flaherty has been concerned about the sale of 30-year uninsured mortgages because the risks from some of these loans are ultimately being transferred from banks to taxpayers – and that’s part of the reason why the banking regulator is now weighing changes, sources say.

Mr. Flaherty has tightened the country’s basic mortgage insurance rules four times since the financial crisis, most recently last July, in bids to stop consumers from taking on too much debt, to cool the housing market, and to protect government coffers. Mortgage insurance is...

The good news is that Port Coquitlam homeowners are expected to pay less in property taxes this year than the city had initially planned.

The bad news is that the same taxpayers may have forked over more than was necessary in 2012.

A review of council’s approved funding decisions conducted by the city’s finance staff found that a planned infrastructure reserve transfer was duplicated in this year’s financial plan.

(The infrastructure reserve, established in 2010, has collected 1% annually to address the gap in funding needed to replace aging roads and facilities.)...