Home buying step-by-step

Buying a home is one of the most important financial and lifestyle decisions you will ever make. To ensure you make smart homebuying decisions from start to finish, Canada Mortgage and Housing Corporation offers step-by-step tips.

Buying a home is one of the most important financial and lifestyle decisions you will ever make. To ensure you make smart homebuying decisions from start to finish, Canada Mor...

Productivity: Attention, please!

How to avoid distractions and get more done in less time.

By Jaclyn Law

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According to a study out of the University of California-Irvine, workers typically switch tasks every three minutes, switch projects every 11 minutes and require 23 minutes to return to a task if interrupted.
You might think most distractions are external, but the research also found that 44% are self-initiated. That wouldn’t surprise Laura Watson of Calgary-based Venture Coaching, who says distractibility stems from anxiety in four areas: money; time; people and relationships; and information and decision-making. When we feel stressed, she says, we have trouble focusing and waste time on “self-sabotaging behaviours” such as excessive e-mail checking.

Andrew Patricio, CEO of BizLaunch, a Toronto training firm, suggests checking e-mail at specific times, turning off message alerts and setting a limit on the time you spend on social media.

Avoid letting others hijack your time with the seemingly innocent phrase: “Do you have a minute?” Ask whether a minute is realistic, says Karen Turner, founder of Calgary-based Turner Efficiency Coaching. She recommends scheduling brief daily or weekly meetings so employees know they’ll have a chance to talk to you and feel less inclined to drop in. Or better yet, says Patricio: “Train your employees how to work and make decisions on their own.”

First-time buyers are helping to fuel strong gains in the property market

First-time buyers are helping to fuel strong gains in the property market as they seek to get a rung on the housing ladder before interest rates rise, according to a report by RE/MAX.

Almost a third of 19 major Canadian markets are reporting a greater number of sales than the same period in 2010, with 70% saying average selling prices have increased, it said. The gains are being fuelled by western provinces, with prices in the Greater Vancouver area surging 20% so far this year.
The strong gains are being fuelled more by a desire of first-time buyers to take advantage of low borrowing costs than a rush to jump into the market ahead of changes to mortgage lending rules that tighten criteria for new homeowners, it said.
“With the Canadian economy on firmer footing overall, residential real estate is well-positioned moving into the traditionally busy spring market," says Elton Ash, regional executive vice president, RE/MAX of Western Canada. "Consumer confidence is climbing in conjunction with economic performance, and concerns over a secondary recession fade with each passing day. The mood is cautiously optimistic, as first-time buyers enter the market."
RE/MAX said affordability remains a concern and first-time buyers are scaling back their expectations on factors such as size of the property and location in order to be able to buy a home.
The lack of affordable housing for lower income and first time buyers is something that has been noted by planners and builders. There is a change in the country’s housing mix towards much smaller homes and condo units, it said.
In terms of housing prices, Hamilton-Burlington followed Vancouver in posting the biggest gains with an 8% jump year-to-date, followed by Quebec City, Winnipeg and Toronto.