About Patricia McKean

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So far Patricia McKean has created 48 blog entries.
  • Realtor here to help, ask questions

What Should You Ask Your Realtor When Buying or Selling a Home?

Buying or selling a home is a significant financial decision for most people, and it's essential to have a knowledgeable and trustworthy realtor by your side to guide you through the process. Whether you are a buyer or a seller, asking the right questions can help you understand your options on a deeper level. So that you can make the best decisions for your unique buying or selling situation. Here are some essential questions you should ask your realtor when buying or selling a home: Questions to Ask Your Realtor When Buying a Home: What is the current market condition in the area where I am looking to buy? How long has the property been on the market, and have there been any price reductions? What is the seller's motivation for selling the property? Are there any upcoming developments or changes in the neighborhood that I should be aware of? (Whether that is housing developments, school’s being built or business space, etc.) Can you provide me with a list of comparable properties that have recently sold in the area? (This way you get an idea if what the seller is asking is reasonable for their property.) What are the

2024-03-08T16:22:15+00:00

Consumer proposal and Bankruptcy – What you need to know!

Recently I have seen many posts on social media and sch asking for advice about consumer debts and some of the responses are shocking!!  Ensure you are well versed in all the pros and cons to make the right decision for you.  Many people do not think that a consumer proposal will have the same effects as a bankruptcy on their credit and that alone is very alarming!  I have also found out that not all the companies that process these share this information with their clients.  That leaves you very vulnerable for future mortgage needs you may have. Consumer Proposal (CP): Picture this: You're drowning in debt, and CP comes in as your lifeguard. You work with an insolvency trustee to negotiate a repayment plan with your creditors. The trustee bundles up your debts into one manageable monthly payment, with no more pesky interest charges or creditor calls. But beware: CPs aren't a walk in the park for your credit score. They hit it hard, like a punch from a heavyweight boxer. And they stick around on your credit report for what feels like an eternity – up to 8 years! If you're dreaming of a new mortgage,

2024-02-29T17:20:23+00:00
  • Community Impact, Volunteering

Giving Back in 2023: Lending My Hands To Community Support

In 2023 I was given the gift of being able to support the community every single month. That’s 12 opportunities to support the community! Giving back and supporting the community is something that has always been close to my heart and it is something that I intend to keep doing going forward - Helping where there is a need. That being said, I wanted to take this opportunity to highlight a few of the ways that I was able to give my helping hands in 2023. The Airdrie Food Bank The Airdrie Food Bank is committed to collecting and distributing food to those in need. Their mission revolves around finding sustainable solutions to hunger-related issues while treating individuals with dignity and respect. Everyone is human! They have set their core values as being non-judgmental, supportive, and make a huge effort to keep community engagement. The role of community engagement is what the Airdrie Food Bank needs to successfully give to those in need. Volunteers also play a pivotal role in the operation of the food bank, contributing their time, skills, and passion to ensuring that those in need can get the help they deserve. 2023 became a testament to

2024-02-22T15:39:58+00:00
  • Family Day Calgary

Creating Memories: 2024 Family Day Fun in Calgary, Alberta

Family Day is just around the corner, and there is no better way to celebrate than by creating unforgettable memories with your loved ones, while enjoying a fun experience. I thought it would be great to get together a few awesome ideas for you and your family to celebrate this day! Here are three activities around Calgary, Alberta for the whole family to enjoy for Family Day 2024. Family Day Brunch at Heritage Park Treat your family to a delightful brunch at Heritage Park! This event is hosted in the unique setting of what Heritage Park calls: Gasoline Alley. Gasoline Alley is home to the park's impressive antique car collection. They plan to serve up pancakes, Belgian waffles, eggs benedict, an assortment of desserts and more! They also have featured some options from the Alberta Bakery, making it one of Calgary's best brunch experiences. They also have options for those who may have dietary restrictions, such as being gluten free, dairy free or vegetarian. But, the Family Day Brunch doesn't just stop at food; it extends to a day filled with exploration. After your meal, dive into the Gasoline Alley Museum. They offer you a closer look at their

2024-02-16T15:36:16+00:00
  • understanding finances

Understanding Your Finances: How To Build Your Budget to Buy Your Home

Understanding Your Finances: How To Build Your Budget to Buy Your Home My name is Patricia McKean, and I have spent the last 20 years as a mortgage broker in Alberta, Canada. Throughout my career, I've witnessed the dreams of many aspiring homeowners come true, and I've also seen the challenges that can arise when financial planning is not given the attention it truly deserves. With that in mind, I created a course to help you make sense of the whole journey. It is my pleasure to introduce: Understanding Your Finances. Designed to assist you with  the knowledge and education you will need to have a successful financial future. The journey to homeownership is undoubtedly an exciting one, but it requires some planning and financial discipline on your part. The first step in this process is understanding and taking control of your finances. Your budget is the foundation upon which your dream home will stand. Building a solid budget involves understanding your income, expenses, and financial goals. To begin, map out to following: Income: Start by creating a detailed list of all your monthly income, including your salary, bonuses, and any additional sources of income you might have. Expenses:

2024-02-07T15:36:54+00:00
  • first time homeowner

How Can The Government Help You Buy a Home: Canada’s First-Time Homebuyer Incentive

How Can The Government Help You Buy a Home: Canada's First-Time Homebuyer Incentive Are you dreaming of owning your first home but find the financial aspect a bit overwhelming or confusing? I have some good news for you! The Government of Canada has a program in place to help ease some of that money overwhelm: The First-Time Homebuyer Incentive. It is designed to soften the burden and make homeownership more achievable for Canadians. (That could be you!) This initiative is a game-changer for those who qualify, offering various options to help first-time buyers step into the home owning space with confidence. The primary goal of the First-Time Homebuyer Incentive is to reduce the strain on your monthly mortgage payments, making the prospect of purchasing your first home a more realistic and less financially daunting task. Which means that you can own your home a little more stress free. Let's dive into some of the details of this incentive: One of the key features of the incentive is the flexibility it provides to first-time home buyers. Depending on your specific circumstances, you can choose between different options. If you have your heart set on a newly built home - the

2024-01-31T18:20:46+00:00

Looking to save a down payment for your first home

Are you a first-time home buyer looking for a way to save for your down payment? Look no further than the First Time Home Buyers tax-free savings account program! This new initiative allows Canadians to contribute up to $8,000 per year (up to a lifetime limit of $40,000) towards their first down payment within 15 years of opening their account. The best part? Contributions are tax-deductible, just like a Registered Retirement Savings Plan (RRSP), and withdrawals for the purpose of purchasing a first home are non-taxable. So, who can open a First Home Savings Account (FHSA)? Any Canadian resident who is at least 18 years old and has not owned a qualifying home as their principal place of residence for the year the account is opened or the preceding four calendar years. You can contribute up to $8,000 in any given year, including 2023, when the program is set to launch. Unused contribution room can be carried forward, and you can even hold more than one FHSA, as long as the total contributions don't exceed your annual and lifetime limits. The FHSA can also be combined with the Home Buyers' Plan, which allows you to withdraw up to $35,000 from

2023-11-27T23:14:11+00:00

Embrace Tiny Home Dreams in Alberta with the Help of a mortgage specialist

Are you dreaming of a simpler, minimalist lifestyle in the beautiful province of Alberta, Canada? Are you yearning for the freedom and flexibility that comes with tiny home living on leased land? Look no further! I have over 20 years of experience, am here to help you turn those tiny home dreams into a reality. In this blog, we'll explore the world of tiny home living in Alberta, the financial aspects of it, and how I can guide you through the process. **The Alberta Tiny Home Revolution** Alberta, with its stunning natural landscapes and a growing interest in minimalist living, is the perfect place to embark on your tiny home journey. Whether you're considering a serene escape in the Rockies or a rustic homesteading future, owning a tiny home on leased land in Alberta offers countless possibilities.  Here are some key points to consider: **Tiny Living as a Lifestyle Change**: Tiny home living is not just about downsizing; it's a lifestyle change. It's about reducing clutter, simplifying life, and focusing on what truly matters. Embracing minimalism can be a refreshing departure from the norm and an opportunity to live more intentionally. **Less Stuff, Less Maintenance**: One of the most

2023-10-02T18:53:25+00:00

First Time Home Buyers: Essential Steps and Tips for a Successful Purchase

Becoming a first-time homebuyer is an exciting milestone, but it also comes with its share of challenges and responsibilities. To ensure a smooth and successful home buying journey, it's important to be well-prepared and well-informed. We’d like to help in any way we can, to make this transition as seamless and enjoyable as can can. Let’s explore the key steps and helpful tips that every first-time homebuyer should consider before making this significant investment. Mortgage Pre-Approval Before you start house hunting, obtaining a mortgage pre-approval is a MUST-DO! You’ll want a detailed assessment of your financial situation so you can understand your budget and get specific about your home search. A pre-approval not only gives you a clear picture of what you can afford, but also makes you a more attractive buyer in the eyes of sellers. In this market, you want all of your ducks-in-a-row (for lack of a better term) so when you find your house, you are ready to make an offer without any hesitation. Home-Ownership Costs While the allure of homeownership is easy to get caught up in, it's also important to be mindful about the ‘other’ associated costs beyond your mortgage payment. Property taxes, utilities,

2023-08-09T17:00:11+00:00

How the Recent Bank of Canada Interest Rate Increase Impacts Prime and Rate Renewals: Save Money by Shopping Around and Avoid Falling for Bank Promises

Recently, the Bank of Canada has taken significant steps to address economic change, inflation and maintain financial stability. How? A prime interest rate increase, which can have significant implications on a number of financial aspects, including rate renewals. As a consumer, understanding these changes and taking proactive measures can help you save money and avoid falling for enticing (and potentially misleading) promises from certain financial institutions. Let’s explore the impact of the Bank of Canada interest rate increase rate renewals where I’ll provide actionable tips on how you can save money by shopping around. The Bank of Canada Interest Rate Increase The Bank of Canada periodically adjusts its benchmark interest rate in response to economic conditions. An increase in the interest rate can have a domino effect on borrowing costs, impacting various financial products offered by banks. Two key areas that often feel the impact of interest rate changes are prime rates and mortgage rate renewals. Understanding Prime Rates and the Impact Prime rate serves as the foundation for many lending products, including variable-rate mortgages, lines of credit and personal loans. When the Bank of Canada raises its interest rate, banks may follow suit and increase their prime rates accordingly.

2023-07-24T21:37:46+00:00