Questions and Answers | Smart Home Series

Diane Buchanan • April 25, 2016

Welcome to the third and final post in a series about smart homes and technology. In case you want to start at the beginning, you can find the introduction here, while we went room to room in the second post. Now, this post WAS going to focus on new gadgets, fresh off the innovation press, and ready to be installed into any and all smart homes. However, we’ve decided against this topic for a couple of reasons:

Firstly, we understand that for the vast majority of people, smart home technology is still a new entity filled with unexplored nooks and crannies. Because of this, the idea of showcasing new gadgets, released in the first part of 2016, seemed somewhat redundant (mainly because everything is new). And while we understand that there remains a niche group that would (and does) enjoy this sort of technological update, in thinking about the general populous, we decided to go in a different direction.

Secondly, we understand that any list we could put together couldn’t and wouldn’t hold a candle to some of the intensive lists that already dot the internet landscape. Our offering would be a mere pittance in comparison. So instead we decided to include a link below. But consider this your fair warning, if you click the image below and take a journey over to thegadgetflow.com you might not ever come back. You thought Facebook was bad for rabbit trails, nope… the gadgetflow will have you back here looking to refinance your mortgage to make some of these wild smart home upgrades. You have been warned.

Are you still here? Okay good! So, this post will be for you: the homeowner (or the future homeowner). The goal is to lead you through some of the decision making processes when it comes to smart home technology.

*“Is now the time to jump in with both feet?”

*“If so, how much should I invest?”

*“What are the ‘must haves’ versus that which can wait?”

These are the questions that we want to entertain for the next few minutes.

“Is NOW the time to jump in with both feet?”

Five years ago, we would have had a different answer for you as it relates to upgrading your home with smart technology; a more tentative response. Why? Common sense dictates that you wait for the market to catch up to the technology. The first few buyers will, without fail, pay more than the masses who choose to wait and buy at a later date. Additionally, it’s prudent to wait in order to make sure the technology is failsafe.

But with the recent advancements in smart home technology, it would seem as though now is as good a time as any with which to “buy in”. And while the technology is still quite new, it isn’t hot off the press, and so the price point in 2016, while high, is not as high as it has been. In other words, the water’s warm; it’s safe to jump in… as long as you’re OK getting wet.

“How much should I invest?”

This question is completely dependent on the individual. Smart home “starter packs” can be as inexpensive as a few hundred dollars, while other (wealthy) individuals opt for the complete home renovation package; top to bottom hardwired changes. The former certainly won’t break the bank, and the latter will cost anywhere from a few thousand dollars to infinity (and beyond). As is with anything, understand where you sit financially, understand where your greatest need lies, and spend your money accordingly.

“What are the ‘Must Haves’?”

Home automation technology can be broken down into two sub groups. The first sub-group is safety & security and the second sub-group is leisure (now, obviously there’s a large gray area for lots of products that fit both of these sub-groups, however…)

We suggest starting with safety & security. Invest in keeping your family safe. Upgrade your locks and outdoor sensors. Upgrade your garage door opener and security system features. Upgrade your lighting system and appliances. Resist the urge to live in constant fear of the outside world, but be prepared. Start at this point and move out from there. There will be plenty of time for leisure after your family is well taken care of.

This series has only just begun to uncover the vast world of smart home technology. It’s a huge field with lots of growth potential and unlimited appeal. We hope you’ve gained a certain appreciation for this type of technology, and we hope you’ve had some fun doing it, as well.

And, as is always the case, for any and all of your mortgage needs, contact me anytime , I’m here to help.

DIANE BUCHANAN
 Mortgage Broker

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Deposit Lending And Bridge Financing

By Diane Buchanan • September 10, 2025
Let’s say you have a home that you’ve outgrown; it’s time to make a move to something better suited to your needs and lifestyle. You have no desire to keep two properties, so selling your existing home and moving into something new (to you) is the best idea. Ideally, when planning out how that looks, most people want to take possession of the new house before moving out of the old one. Not only does this make moving your stuff more manageable, but it also allows you to make the new home a little more “you” by painting or completing some minor renovations before moving in. But what if you need the money from the sale of your existing home to come up with the downpayment for your next home? This situation is where bridge financing comes in. Bridge financing allows you to bridge the financial gap between the firm sale of your current home and the purchase of your new home. Bridge financing allows you to access some of the equity in your existing property and use it for the downpayment on the property you are buying. So now let’s also say that it’s a very competitive housing market where you’re looking to buy. Chances are you’ll want to make the best offer you can and include a significant deposit. If you don’t have immediate access to the cash in your bank account, but you do have equity in your home, a deposit loan allows you to make a very strong offer when negotiating the terms of purchasing your new home. Now, to secure bridge financing and/or a deposit loan, you must have a firm sale on your existing home. If you don’t have a firm sale on your home, you won’t get the bridge financing or deposit loan because there is no concrete way for a lender to calculate how much equity you have available. A firm sale is the key to securing bridge financing and a deposit loan. So if you’d like to know more about bridge financing, deposit loans, or anything else mortgage-related, please connect anytime! It would be a pleasure to work with you.

Smart Steps to Get Your Home Market-Ready

By Diane Buchanan • September 3, 2025
Thinking About Selling Your Home? Start With These 3 Key Questions Selling your home is a major move—emotionally, financially, and logistically. Whether you're upsizing, downsizing, relocating, or just ready for a change, there are a few essential questions you should have answers to before you list that "For Sale" sign. 1. How Will I Get My Home Sale-Ready? Before your property hits the market, you’ll want to make sure it puts its best foot forward. That starts with understanding its current market value—and ends with a plan to maximize its appeal. A real estate professional can walk you through what similar homes in your area have sold for and help tailor a prep plan that aligns with current market conditions. Here are some things you might want to consider: Decluttering and removing personal items Minor touch-ups or repairs Fresh paint inside (and maybe outside too) Updated lighting or fixtures Professional staging Landscaping or exterior cleanup High-quality photos and possibly a virtual tour These aren’t must-dos, but smart investments here can often translate to a higher sale price and faster sale. 2. What Will It Actually Cost to Sell? It’s easy to look at the selling price and subtract your mortgage balance—but the real math is more nuanced. Here's a breakdown of the typical costs involved in selling a home: Real estate agent commissions (plus GST/HST) Legal fees Mortgage discharge fees (and possibly a penalty) Utility and property tax adjustments Moving expenses and/or storage costs That mortgage penalty can be especially tricky—it can sometimes be thousands of dollars, depending on your lender and how much time is left in your term. Not sure what it might cost you? I can help you estimate it. 3. What’s My Plan After the Sale? Knowing your next step is just as important as selling your current home. If you're buying again, don’t assume you’ll automatically qualify for a new mortgage just because you’ve had one before. Lending rules change, and so might your financial situation. Before you sell, talk to a mortgage professional to find out what you’re pre-approved for and what options are available. If you're planning to rent or relocate temporarily, think about timelines, storage, and transition costs. Clarity and preparation go a long way. The best way to reduce stress and make confident decisions is to work with professionals you trust—and ask all the questions you need. If you’re thinking about selling and want help mapping out your next steps, I’d be happy to chat anytime. Let’s make a smart plan, together.