Archive for November, 2019

Selling Your Home – Know Your Rights

Friday, November 29th, 2019

Ready to take the next step in purchasing a bigger home for you and your family? Maybe you are looking to downsize now that the kids have moved out – whatever your reason, it’s time to sell. There are a few things to consider though when it comes to selling.

Standing in front of sold home

As a homeowner, your home is your most prized possession. Depending on how long you have lived in that house, you have made some changes to personalize but also make it feel like home for you and your family. These changes cost money; therefore, when it comes to selling, a homeowner is most likely going to want to factor that in the sale price. When the time comes to pricing, don’t feel pressured to undervalue your home. While your real estate agent should have your best interest in mind, it is important to have them factor in the money that has been invested.

A homeowner does not want to sell their home for than less than it’s worth which is why, as a homeowner, it is important to do your own research and see what other homes in the area are worth.

Sellers also have a right to add clauses – for example, from ensuring that a deadline for papers to be signed. If these clauses aren’t respected, a seller has a right to deny their papers. More importantly, a seller has a right to know about the offers bring presented.

Selling a home can be exciting because it means a new chapter is about to start; therefore, it’s important to know your rights and use the people around you. From your broker to real estate agent. Remember they work with you, and while the agent will get a percentage of the cut when you sell, this is motivation for them to make sure you, as their client get the best outcome possible.

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Home Inspections – Why You Should Never Skip It

Friday, November 22nd, 2019

When it comes to buying a home, before the deal gets closed a potential homebuyer should always have it inspected. This means having it checked thoroughly from top to bottom. What could they be inspecting?

Inspecting Home Foundation

Foundation – For newer homes, the foundation may not be a big deal; however, for older ones or homes in areas where earthquakes, flooding and other natural disasters may be common the foundation could be jeopardized. The last thing a new homeowner wants to have to deal with after a home purchase is issues with the home.

Moulds and water damage – Know what lies behind the paint of the master bedroom? A thorough inspection can make sure that the home is free from an asbestos, mould or hidden damages. When a home has experienced any major damages or upgrades, a potential buyer has to be informed of such repairs or upgrades.

Home inspections can sometimes be done before an actual buyer has shown interest – typically a sign of being proactive; however, it does not hurt to spend that extra $200 or so to have an inspection done by someone the homebuyer has chosen.

Buying a home is an investment – it’s important to do what you can to ensure you protect yourself and mitigate any potential costly errors.

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Considerations When Entering the Real Estate Market

Friday, November 15th, 2019

Ready to take the next step and enter the real estate market? Do you know what to look for? Or rather, did you know that when it comes to buying a home, there are a few things to consider?

We share 5 things to consider when buying a house…

Couple looking at offer

  • Use a trusted realtor – When it comes to the real estate market it is essential to surround yourself with people you trust. This means a trusted real estate agent and broker. Having people,you trust will help deciding and doing the research to find that dream home easy.
  • Buy a home for the future, not today – While it’s easy to walk into a brand-new home and feel like it’s the perfect place, remember you are buying a home for the future. Looking to have kids? Think about the space you will need when it comes to buying a home unless you plan on moving before you have children. Keeping this in mind will help determine the size of home you need but also the location.
  • Buying a home is a commitment – For the most part, most homeowners will live in a home on average 3-5 years before considering to relocate, upgrade or downgrade. Remember, just like fashion, don’t buy for the now but rather for the future.
  • Focus on the home not the price – The price you see when you are looking for a home, isn’t always the price you may end up paying. Sometimes, best case, it may go down, in some situations, it could go up. It is important to not focus or obsess too much on the price. Focus on the home – and work from there.
  • Look beyond aesthetics – Just as it is important to look beyond the price, it is important to also look beyond the aesthetics. When you go to an open-house, focus on the foundation, the structure, the size of the rooms and not the color of the wall or the curtains hanging. Those are aspects that can be changed and that can be modified to suit personal preference.

The real estate market is vast and it can be overwhelming. Do your research but more importantly, know what it is you are looking for, this will make the process a lot easier and less stressful.

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Is 2019 Your Year to Buy a Home?

Friday, November 8th, 2019

Finally got that job promotion you’ve been waiting for? Maybe you and your partner and ready to start a family or take the next big step – could this be the year to buy into the real estate market?

A few things you should consider when looking to buy a home in 2019 are:2019 in lights

Don’t be afraid to look at multiple listings and to make various offers. Some newbie homebuyers think that they have only to put an offer in one house at a time. False, you can put as many offers in. The one thing to be cautious about is if you start getting selected; therefore, consider the homes you put offers in. Are you likely to get chosen over another potential buyer? Or is this home one where there will be a bidding war? Consider this and remember, it’s okay to place multiple offers on different listings.

Don’t be discouraged if the home you “wanted” get bought by someone other than you. The market is hot right now, and sometimes, realtors selling will price a home low to start a bidding war. Don’t be discouraged if that lovely two-car garage with the home theatre system gets purchased above asking because chances are there is another home for you about to enter the market.

fingerless gloves holding cardboard homeKnow your budget and STICK TO IT! Sometimes we think that we can make accommodations and work a higher mortgage into our budget. As a homeowner and one whose friends have also bought homes – don’t fall into this trap. Do you want to buy a home and find yourself “house poor”? Or do you want to buy a home within your budget and not have to worry about money constraints?

The real estate market is one that requires patience, understanding and resilience. Don’t be discouraged if your first home isn’t exactly how you envisioned your home being – buying a home is a great way to build equity and invest in your future long term.

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