First-Time Home Buyers: On Your Mark, Get Set, and... Answer These 4 Questions

So, you're a first-time home buyer and you're scared, confused, a little lost and not sure who to ask for help. Well, rest assured, you're not alone. Buying your first house is a big decision; in fact, it's probably one of the biggest decisions you'll make in your life - which is why many first-time home buyers hesitate to take that first step into home ownership. And often, some never take that step.

But if you are serious about buying your first home - where do you start? Here are 4 key questions to ask yourself before you go out there and start looking at homes:

1. How much can I afford? If you are serious about buying a home, this is probably one of the first question that came to mind, and if you haven't put any thought to this question yet, you should. I find many first-time buyers I have dealt with have no idea how much a bank will approve them for and are actually surprised at how much they are able to afford.

2. How much do I want to pay each month? Isn't this the same question As #1? Sort of, but not really. Some of us want to buy a home while changing very little about their current lifestyle and wish to keep their current home costs (rent, utilities, etc..) the same, while others are willing to sacrifice a little and increase their monthly home costs to get the home they want. While you may be approved for $300,000, which calculates to roughly $1250/month, you may only want to spend $1000/month on housing. This answer will be different for everyone, but you need to figure out what monthly cost fits comfortably into your lifestyle.

3. Where do I want to live? This is usually the first question most first-time home buyers ask themselves, and again, this answer will be different for everyone. Some of us want to live close to where we work, or perhaps close to our parents (I said 'perhaps') or maybe we want to live in a neighbourhood catered to a social nightlife. We all have different reasons to wanting to live in different neighbourhoods, so start prioritizing what's most important to you - green space, close to work, on-site amenities, close to store and restaurants, etc... And that should help you narrow it down to a few neighbourhoods of interest.

4. What type of home do I want to live in? Homes have changed a lot in the last 20 years, there are now more style of homes than ever - terrace townhomes, semi-detached homes, high-rise and low-rise condos, etc... And each comes with their own set of advantages and disadvantages. For example, living in a high-rise condo is great, since they are usually located in the downtown core and on-site amenities are often included, but you won’t have easy access to a backyard. Having already answered the other 3 questions from above, the type of home you’re looking for will already have started to reveal itself as your desired neighbourhoods and budget will have a huge impact on the style of home you buy.

Buying your first home can be a great or stressful experience; it completely depends on how you get started and who you choose to use to help you. So make sure to do a little bit of homework before you start your search, or make it easier on yourself and ask a Bennett Real Estate Professional buyer's agent for help.

For more details and information on buying your first home, please feel free to contact me. Thanks for reading.

Taylor Bennett
Sales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com

Limited Time SoHo Promotions!

Hello out there,

Have you had the chance to visit the SoHo Presentation Gallery recently? If you haven't, you will not know that there are some outstanding promotions offered at SoHo Lisgar - for both first-time home buyers and regular home buyers alike.

There are roughly 20 suites remaining at SoHo Lisgar - 2 bedrooms, 1 bedroom plus den and 1 bedroom suites are all available, and there is a special promotion tied into each type of suite.

For our first-time home buyers out there looking to buy a new one bedroom condo, but find the regular 15% down payment a little too high, we have a 5% down payment promotion. In order to qualify you must provide proof that you are, in fact, a first-time home buyer and you must not be working with a realtor. With this promotion, the builder only requires a 5% down payment up front, and the remaining amount isn't due until closing (Sept. 2012). If you aren't a first-time home buyer, we can extend the 15% down payment time lines - usually the 15% is due within 90 days of signing the offer, but we can extend that time frame to 2 years.

For the electronic junkies, we have a technology promotion. At closing, purchasers that qualify for this promotion will receive a 32" and a 42" flat screen TV, a TV built into the bathroom mirror and a 21" Apple computer (approximately a $5,500 value) for free!

Lastly, the next 10 SoHo Lisgar Condo purchasers will also receive an Apple iPad before closing.

These promotions will only last until November 15th, or until supplies last. Contact me for further details.

Thanks for reading.

Taylor Bennett
Sales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com

Construction at Parkway Under-Way!!

For those of you who haven't had the chance to drive past the site of the first Ottawa edition of SoHo Luxury Conods - allow me to introduce you to SoHo Parkway. As you can tell from the picture on the right, construction has started and we are very excited. The crane has been set up so construction will be continuing all throughout the winter to meet out Fall 2011 closing date. While sales have been excellent (the building is over 90% sold out) there are still few great oppotunities remaing starting from $229,900, as well as a limited number of suites with terraces ranging from 215 sq. ft. to over 600 sq. ft. - this 'terrace collection' is truely one-of-a-kind.

Whether you're looking for a large 2-bedroom/2-bathroom suite for down-sizing or that elegant 1-bedroom for an investment - SoHo Parkway has something to offer for everyone.

For more details on this exclusive luxury condo, please shoot me an email. Thanks for reading.

Taylor Bennett
Sales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com

Got Terrace?... SoHo Parkway Does

Hello again,

Time for another update on SoHo Condominiums in Ottawa.

For those of you who haven't been checking up on the progress at SoHo Parkway, construction is well under way and we are moving along according to schedule. But recently there has been a slight change in the building layout - the 3rd floor (which was previously reserved for long-term rentals) has been released for sale. To view the floor plans, please visit www.sohoparkway.com - the new floor plans are labeled A3, B3, etc…

What's so special about these floor plans? While the interiors still include the exquisite finishes that you have come to expect from SoHo Luxury Condos (concealed European appliances, Quartz countertops, Floor-to-Ceiling and Wall-to-Wall windows, etc…), most of the newly released plans feature a terrace with a gas-line for a barbeque and a hose bib.

What's the difference between a balcony and a terrace, you ask? The terraces at SoHo Parkway are at least 193 sq. ft. - almost double the size of the balconies AND you are able to have your own private barbeque - something that very few high-rises allow.

So if you're still on the lookout for that luxurious high-rise condo, with outstanding amenities available at your finger tips, but aren't yet ready to sacrifice a yard or exterior space - these floor plans are the answer you've been looking for. With prices starting at $269,900 these one-of-a-kind suites will not last long.

Whether you’re an investor, a first-time home buyer, or looking to down-size – SoHo Parkway has a plan to fit your life style. For more information on the availability and pricing, please feel free to contact me. Thanks for reading.

Taylor Bennett
Sales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com

Get the SoHo Lifestyle at the price you want...

It's been about a little over a month since we had our pre-view launch back at the end of April and 65% of the building has been sold! But there are still some great opportunities remaining to be a part of the SoHo lifestyle.

Imagine living in a building where every detail was planned with your comfort in mind - exterior SoHo Water Gardens area complete with a hot tub and lap pool, a fully-equipped gym with available personal trainers, a sauna to relax and unwind, a 23 person theatre to entertain family and guests and much more, all available at your finger tips. Let our 24 hour, hotel-trained concierge help you better enjoy downtown living by helping you set up dinner plans for a night out, arrange for pet-sitting services while you're out of town, or have your favourite wine brought up from the wine cellar after a long day at the office - SoHo offers it all.

While there are a few great suites remaining, they surely will not last long. Be sure to act now as prices are set to increase later this month.

Feel free to stop by the office to check out the model and discover all of what SoHo has to offer. Call the sales office today to arrange for a viewing or send us an email. We hope to see you soon.

SoHo Lisgar Sales Office
300 Lisgar Ave.
Ottawa, ON K2P 0E2
T: 613.798.7646
sales@soholisgar.com

For more information about SoHo or condominiums in Ottawa, please don't hesitate to contact me. Thanks for reading.

Taylor Bennett
Sales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com

SoHo Lisgar - The Basic Details

Well, it's been awhile since my last blog - as some of you may know, I've been very busy with SoHo Parkway. With its huge success and record-breaking sales, it kept me quite busy. But now it's time to move on to our next site - SoHo Lisgar.

SoHo Lisgar is set to be launched to the public around April 2010 (no official launch date has been set yet) and will be located at 300 Lisgar St. (on Lisgar St., east of Bank St.). While no specifics have been confirmed for the building, you can expect the equivalent hotel-inspired specifications, features and amenties that are included in SoHo Parkway - professionally run gym, home threatre, hot tub, hotel-trained conceirge, etc... - if you are not familiar with SoHo Parkway, please visit www.sohoparkway.com for more details.

While none of the details about SoHo Lisgar have been released, here are some of the differences that you can expect:

- The Height: The height limits around 300 Lisgar are higher than on Parkdale, so you can expect SoHo Lisgar to be around 18-21 stories.
- The Size: Being on a larger lot, the building itself should be larger, thus containing more dwellings.
- The Design: All SoHo projects have a timeless design while still giving you the comforts of home, SoHo Lisgar will not be any different.

As SoHo Lisgar gets close to its April launch dates, more and more details about the building will be revealed, so please check back often for any updates.

For those of you who would like to be invited to the initial launch, please visit www.bennettpros.com and sign up for our Bennett VIP Club and you will not only be invited to the SoHo Lisgar launch, but any of our other new home project launches.

For more information about SoHo or condominiums in Ottawa, please don't hesitate to contact me. Thanks for reading.

Taylor Bennett
Sales Representative
Bennett Pros
www.bennettpros.com
taylor@bennettpros.com