Advice for First Time Buyers
Pre-Qualification:
Meet with a mortgage broker and find out how much you can afford to pay for a home.
Pre-Approval:
While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You’ll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you’re interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.
List of Needs & Wants:
Make 2 lists. The first should include items you must have (i.e., the number of bedrooms you need for the size of your family, a one-story house if accessibility is a factor, etc.). The second list is your wishes, things you would like to have (pool, den, etc.) but that are not absolutely necessary. Realistically for first-time buyers, you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.
Representation by a Professional: Consider hiring your own real estate agent, one who is working for you, the buyer, not the seller.
Focus & Organization: In a convenient location, keep handy the items that will assist you in maximizing your home search efforts. Such items may include:
- One or more detailed maps with your areas of interest highlighted.
- A file of the properties that your agent has shown to you, along with ads you have cut out from the newspaper.
- Paper and pen, for taking notes as you search.
- Instant or video camera to help refresh your memory on individual properties, especially if you are attending a series of showings.
Location: Look at a potential property as if you are the seller. Would a prospective buyer find it attractive based on school district, crime rate, proximity to positive (shopping, parks, freeway access) and negative (abandoned properties, garbage dump, source of noise) features of the area?
Visualize the house empty & with your decor: Are the rooms laid out to fit your needs? Is there enough light?
Be Objective: Instead of thinking with your heart when you find a home, think with your head. Does this home really meet your needs? There are many houses on the market, so don’t make a hurried decision that you may regret later.
Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don’t forget such essentials as:
- Include inspection & mortgage contingencies in your written offer.
- Have the property inspected by a professional inspector.
- Request a second walk-through to take place within 24 hours of closing.
- You want to check to see that no changes have been made that were not agreed on (i.e., a nice chandelier that you assumed came with the sale having been replaced by a cheap ceiling light).
All the above may seem rather overwhelming. That is why having a professional represent you and keep track of all the details for you is highly recommended. Please email me or call me directly to discuss any of these matters in further detail.
As the leaves turn and the air gets crisp, fall is more than pumpkin spice and cozy sweaters—it’s also the ideal time to prep your home for the colder months ahead. A little effort now can save you money, stress, and even unexpected repair bills once winter rolls in. Here’s your go-to fall checklist to make sure your home is ready for whatever the season brings. 1. Clean Your Gutters and Downspouts Falling leaves and debris can quickly clog gutters, leading to ice dams and water damage once temperatures drop. Clear them out, run some water through the downspouts, and make sure everything drains away from your foundation. 2. Check Your Roof Before the snow piles up, take a look (from the ground or with binoculars) for missing shingles, loose flashing, or signs of wear. Catching small issues now can prevent costly leaks later. 3. Seal Windows and Doors Drafts are sneaky energy thieves. Walk through your home with your hand near the frames of windows and doors—if you feel cold air, it’s time for caulking, weatherstripping, or even replacing old seals. 4. Service Your Furnace (and Change the Filter!) Book a fall furnace tune-up to keep it running efficiently all winter long. While you’re at it, swap out the air filter to keep your system (and indoor air) clean. 5. Winterize Outdoor Water Lines Drain and shut off outdoor taps, hoses, and sprinkler systems to avoid frozen pipes. If you’ve got a pool, now’s the time for proper closing too. 6. Inspect Your Fireplace & Chimney If you’re lucky enough to enjoy a cozy fire, have your chimney inspected and cleaned. It prevents fire hazards and keeps your home smelling like cedarwood instead of smoke. 7. Protect Outdoor Furniture & BBQs Cover or store patio sets and BBQs to extend their lifespan. Bonus: less snow shoveling around clutter in the yard. 8. Stock Up on Winter Essentials Don’t wait until the first storm to find out your snow shovel is broken or your ice melt is sold out. A little prep now goes a long way. 📝 Final Tip Think of fall maintenance as your home’s annual check-up. It’s not glamorous, but it’s the best way to ensure your home stays warm, safe, and efficient all winter long—leaving you more time to enjoy the cozy parts of the season.
As the warm days get shorter and the nights start to cool, it’s easy to feel like summer is slipping away. But there’s still time to make the most of the season before we trade patio drinks for pumpkin spice. Here are 10 fun and simple ways to soak up every last bit of sunshine and summer spirit. 1. Catch a Sunset Picnic Grab a blanket, pack some snacks, and head to your favourite local park or lookout spot. End-of-summer sunsets tend to be some of the most vibrant. 2. Visit a Farmer’s Market Many markets are overflowing with fresh produce right now—think peaches, tomatoes, and sweet corn. Stock up while you can and enjoy the flavours of summer at home. 3. Host a Backyard BBQ (One More Time) Fire up the grill and invite a few friends over. Keep it casual with burgers and cold drinks, or try something new like grilled veggies and skewers. 4. Go for an Evening Walk or Bike Ride The cooler evenings are perfect for enjoying your neighbourhood trails or bike paths. It’s also a great way to reset after a busy day. 5. Plan a Day Trip Explore a nearby town, beach, or hiking spot you’ve been meaning to check out. Sometimes the best adventures are just a short drive away. 6. Have a Patio Night Out Support local restaurants by hitting a patio before the season ends. Bonus points if you find live music. 7. Try an Outdoor Workout Take your yoga mat to the park, join an outdoor fitness class, or simply do a bodyweight routine on your deck. Moving outdoors makes it feel less like a chore. 8. Catch an Outdoor Movie or Concert Many communities host late-summer outdoor events. Bring lawn chairs, snacks, and enjoy entertainment under the stars. (or hit up the mustang drive-in!!) 9. Make a Summer Memory Book Scroll through the photos you’ve snapped this season and print your favourites. A little DIY photo album is a great way to capture the highlights. 10. Slow Down and Soak It In Sometimes the best way to end summer is to simply be present. Grab your favourite iced drink, find a sunny spot, and enjoy doing absolutely nothing for a while. Summer may be winding down, but there are still plenty of opportunities to create lasting memories. Whether it’s a simple evening walk or a weekend road trip, these little moments are what make the season so special. So before fall rolls in—get outside, gather your people, and enjoy every last drop of sunshine.
Buying a home with an income suite is one of the smartest ways to break into real estate—or level up your investment game. Whether you're a first-time buyer looking to offset your mortgage, or a seasoned investor seeking steady cash flow, these types of properties offer real potential. But like any real estate move, it’s important to go in informed. Here's what you need to know before buying a home with an income suite in Guelph or the surrounding area. What Is an Income Suite, Exactly? An income suite (also called a secondary suite or in-law suite) is a self-contained unit within a home that can legally be rented out. Think basement apartments with their own entrance, kitchen, bathroom, and living space. Why Buy One? Offset your mortgage: Rental income can significantly reduce your monthly costs. Build equity faster: That extra income can help you pay down your loan sooner. Future flexibility: Use it later for multigenerational living, downsizing, or guest space. Attract future buyers: Many homebuyers see income potential as a major bonus. What to Look for in a Property When searching for a home with a suite (or one that can be converted) look for: Separate entrance Proper ceiling height and windows (especially in basements) Second kitchen and full bathroom Dedicated parking Soundproofing and privacy Zoning compliance Already legal is ideal—but don’t worry, we can help you assess the potential for legalization if needed. Legal Considerations Not every secondary unit is legal, and the rules vary by municipality. It’s essential to verify permits, inspections, and approvals before you buy—or plan to renovate accordingly. How to Analyze the Numbers Not sure if the numbers make sense? Here’s what to factor in: Current market rents (we can provide comparables!) Cost of potential renovations or upgrades Additional utility costs or separate meters Landlord insurance Property taxes and maintenance How We Can Help At the Hudson Smith Group, we’ve helped dozens of clients successfully buy and sell properties with income suites. From analyzing the investment potential to connecting you with local contractors and city resources, we’re here every step of the way. Ready to Start Your Search? Buying a home with an income suite isn't just about real estate—it's about setting yourself up for financial flexibility, stability, and long-term growth. If you’re curious about what’s on the market or want to learn more, reach out to us anytime. Let’s find you a home that works for you.
