Conditions of sale are a fact of life for homebuyers and sellers alike

During any real estate transaction, buyers and sellers need to understand what conditions of sale are all about and how they can impact both parties.

"It's important to note that conditions of sale are for the buyer's benefit," said CREB® president David P. Brown.

"Often a seller will try to influence the conditions by requiring financing in four days instead of 10 or something like that, but a well-educated REALTOR® shouldn't allow it."

While there are no standard conditions of sale, two of the most common are "subject to financing approval" and "subject to a satisfactory home inspection."

Do your research before selling a second home

Owning an investment property can provide useful income, while having a recreational property can provide a great place to spend time with family and friends.

But if you are thinking it's time to sell, some careful research is in order.

"There's a lot to consider when selling your investment property or a vacation home," said Laura Parsons, the Calgary-area manager for mortgage specialists with BMO Financial Group. "Do your homework."

HGTV Canada's Tiffany Pratt brings energy and design expertise to the Calgary Fall Home Show

Designer, author, maker and HGTV Canada star Tiffany Pratt hits the main stage at the Calgary Fall Home Show this weekend, where she'll wow audiences with her down-to-earth design savvy, while imparting tips for creating charismatic and colourful design style.

"I'm really going to be talking about transformation," said Pratt. "Everyone is looking for change – they want to be inspired with colours or experience an update or have something new."

Pratt will be walking show attendees through the process of creating beautiful spaces using simple DIY design projects and pops of colour. She will also be sharing the story of the year-long journey of design transformation she experienced while renovating her home in Toronto's waterfront Beaches community.

That is the question, but there is no easy answer that's right for everyone

It's an age-old question that still gets hotly debated, particularly by young adults who are determining where they are going to live: should I rent or should I buy?

It's not an easy question to answer, and there are no clear right or wrong answers.

"One of the big things to contemplate is your time focus, because when you do buy a home, it is a long-term commitment. It does involve a five-year mortgage that's amortized over 25 years," said Tim Gensey, a market analyst with Canada Mortgage and Housing Corp. (CMHC) in Calgary. "On the other hand, renting allows you to be a lot more flexible. You have to really consider where you are in your life and what your needs are.

Trevor Gibbs and Melissa Wellingtan doubled their living space with a new Airdrie townhome

Trevor Gibbs and Melissa Wellingtan both love to whip up culinary gems in the kitchen – he loves to cook and she enjoys baking. But with a nine-year-old son, a 17-year-old cat, and the fact that Trevor works from home, space in their 800-square-foot, two-bedroom Airdrie condominium was at a premium. The small space made it hard to move around the home, let alone cook or entertain.

So, in December of last year, the couple started looking for a bigger space with room for the family to grow. They found everything they were looking for, including a state-of-the-art kitchen, at the Gates at Hillcrest in Airdrie, a townhome development by Mattamy Homes.

Tracey Hodgson secured her ideal lock-and-leave lifestyle with a new Inglewood condo

At 55, Tracey Hodgson is on the cusp of retirement. She and her husband are winding down their business commitments (she owns a beauty supply company) and plan to cycle between periods of work and play. They recently purchased a strata-type lake property in Kelowna and a condo in Las Vegas, and have listed their home in Chestermere. Their vision is to float between the two homes. But with three grown children and a grandchild in Calgary, they wanted a touchstone in the city – a place where they could park themselves at the centre of the action while visiting family. They found what they were looking for in the heart of Inglewood at AVLI on Atlantic Avenue, a collection of 64 condominiums, garden terrace designs and live/work townhomes designed by Jeremy Sturgess of Sturgess Architecture.

Putting together your first down payment is all about planning and prioritizing

With changes to mortgage regulations and the Bank of Canada's qualifying rates, buying a first home might be tougher than expected, especially for those already carrying a large amount of debt. Currently, the total cost of a mortgage payment, property tax and utilities must be less than 40 per cent of a borrower's gross income.

"The debt ratio makes a big difference to your purchasing power when buying a home," said Calgary mortgage broker Monika Hägele. "Some people might work really hard, save up five per cent towards their desired home, and then that amount might not even be enough if they are carrying too much debt."

Gardening tips as summer winds down

August in the garden means the harvest is underway, but everything in the garden isn't ready in the same way or on the same day. Here is a primer for garden work this month:

Single-level homes are in high demand among retirees planning for their future

For active senior JoAnn Fetzner, who golfs three times a week and travels widely, one-level, bungalow living was an obvious choice for the rest of her life.

For empty-nester Patti Clarkson, 54, who is easing her way into retirement, her recently purchased bungalow villa will be the perfect "forever home."

For both women, finding a single-level home was a priority – part of their long-term planning for possible mobility issues down the road.