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Buying a Home: Tips for Surviving a Bidding War
Posted on Wed, 15 Mar 2017, 03:35:00 PM  in Home buying tips
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Buying a home can feel like a roller coaster ride filled with emotional highs and lows. One of the lows that buyers dread the most is finally finding the perfect dream home only to get caught up in a nasty bidding war. Your heart tells you to do everything you can to get the house while your head tells you that you need to stay within budget. The following tips will help you put your best foot forward and improve your chances of getting your offer accepted.

 Buying a Home: Tips for Surviving a Bidding War

Have Financing in Place:

You may be up against all-cash offers, so ensuring that you have a lender's preapproval in hand will strengthen your position by allowing you to remove the financing contingency from your offer.

 

Make a Competitive Offer:

You should avoid the temptation to make a lowball offer. You run the risk of insulting the sellers to the point that they refuse to even counteroffer. An experienced REALTORŪ can help you prepare a thoughtful offer based on market analysis, their experience with the local market, as well as information they can learn from the listing agent regarding the seller's motivations.

 

Adjust to the Seller's Schedule:

Closing dates are typically negotiated for a time that is convenient for both sides. Agreeing to close at the seller's convenience may give you a leg up over the competition. If the sellers need a little extra time to arrange their move, you can even agree to rent the property back to them after closing.

 

Remove Sales Contingencies:

Offers that are contingent upon inspections or you selling your current home can make a seller nervous. Removing these stipulations can improve your odds of acceptance when there is stiff competition; however, you should consider the consequences of removing the contingencies very carefully. For example, you want to ensure that you have enough funds in reserve to cover two mortgages for a while. You may also opt for an "information only" inspection so that you will at least have an idea if there are potential issues with the home and can plan accordingly.

 

Make it Personal:

Realtors often recommend that buyers in a bidding war submit a personal letter with their offer detailing why they fell in love with the house and what it will mean for their family to live there. This will help the seller connect with you on an emotional level and may help tip the scale in your favor.

 

Know When to Walk Away:

It is important to know your top price before submitting your offer. It is all too easy to overpay for a home when we let our emotions gain control. No matter how perfect a home may appear, it is not worth it if you end up struggling every month to meet your mortgage payment. If you are patient, you will find the right house at the right price.

Finally, you should trust your REALTORŪ. There is a good chance that they have been through more than one bidding war and can help you come up with best possible strategy to get your offer accepted.


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Tips For Choosing Rental Properties That Are Guaranteed To Provide Phenomenal Returns
Posted on Tue, 28 Feb 2017, 10:45:00 AM  in Home buying tips
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Purchasing rental property is a great way to establish long-term financial health. The right unit will serve as an ongoing, passive stream of income that can bolster or even replace earnings that are generated from your primary employment. This is an excellent investment strategy for retirees or for those who intend to leave the workforce within the next several years. It is also perfect for consumers who already own their own homes outright and are ready to expand their portfolios. In order to ensure optimal returns from this investment, however, there are a number of key features that you should look for.

 Tips For Choosing Rental Properties That Are Guaranteed To Provide Phenomenal Returns

  1. A Prime Location

No matter what your goals are when shopping for property, location means everything. This is always going to be the sole feature about your unit that you don't have the power to change. You can alter the flooring, add in new cabinetry and even redesign the look of the property exterior. Where your investment is located, however, is a static condition. You also have to account for the fact that location will play the greatest role in determining how much you're able to charge for rent. Even if a unit has cutting-edge amenities, it won't fetch a reasonable price if it's situated in a high-crime, low-interest and otherwise undesirable neighbourhood.

 

  1. Modern Amenities

Just like home buyers want the latest and most innovative amenities, property renters are starting to demand these things as well. Features like smart thermostats, triple and even quadruple-pane windows, and energy efficient heating and cooling systems can help renters save considerable sums of money on their monthly overhead bills. If any property you're targeting doesn't have these things, find out how much it will cost to add them in on your own.

 

  1. A Robust Rental Market

Certain neighbourhoods are filled with attractive and relatively affordable houses, and yet, the local rental markets are not ideal. This is often the result of limited, local options in employment, limited options for commuting, or average rental prices that are far above the regional norm. Find out how other rental property owners are faring within specific neighbourhoods and determine just what the average rental costs are. These should be sufficiently high for covering your own ownership expenses while allowing for some manner of profit.

 

  1. Quality Schools

If you intend to invest in a multi-unit development or a property type that is best-suited to small and growing families, make sure to target neighbourhoods that have top-rated schools. Many properties will have local school information posted right on their listings. You can compare this data with the details that are offered by major school review sites online.

 

  1. Low Crime Rates

Take a minute to read up on local crime statistics. Even some of the best locations are not immune to problems like burglary and vandalism. Not only will issues like these make your units less marketable, but they can also have a noticeable impact on property values over the years.

 

  1. Ease Of Transportation

When shopping for homes, apartments or condos to rent, most people are looking for options that will simplify their daily commutes. As such, some of the best properties will be located within close driving distance of major transportation routes. It is also important to consider the options in local, municipal transportation that exist as well. With more consumers looking to limit both their fuel costs and their carbon footprints, choosing properties near solid bus routes or train stations is a good idea.

 

  1. A Strong Job Market

A strong job market and a robust rental market usually go hand in hand. If there are plenty of options in nearby work, locals will be able to pay their rent. When shopping for an investment property, check around for new businesses, business expansion and low unemployment rates. It's also possible to find desirable rental properties just outside of bustling metropolitan areas, so long as the options for commuting are good.

When using investment property to generate passive income, it's vital to diligently research your options. Choosing a modern, updated home that located in a safe and top-rated community will invariably provide better returns than will choosing a property in a high-crime, low-interest district. Consulting with a reputable REALTORŪ before finalizing any purchase decisions is the best way to avoid investment mistakes that will diminish your profit potential.


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5 Tips to Help Improve the Exterior of Your Home
Posted on Wed, 15 Feb 2017, 10:40:00 AM  in Home selling tips
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When it comes to selling your home, curb appeal is very important. Potential buyers may skip over your home based on the outside, without taking the time to view the inside. Therefore, you will need to keep the exterior of your home well-maintained. Remember that you only get one time to make a first impression with buyers.

 5 Tips to Help Improve the Exterior of Your Home

Pretend to be the Buyer

Before you begin improving the exterior of your home, you will need to determine what needs to be fixed or changed. Examine the outside of your home by walking around the property and taking notes and pictures. You can write down what changes need to be made, and compare your notes to the photos that you have taken. Look at what needs to be repaired, cleaned, or replaced altogether. You should also drive by the home in a car, during the day and at night. Look for anything that seems off, such as a ball stuck on the roof or a crack in one of the windows.

 

The Cleaner, the Better

If the outside of the home has chipped paint, cobwebs, and stains, buyers will likely keep driving by the home, instead of stopping to come in. This is true regardless if your home is in a great Canadian neighborhood, near all of the best amenities. Cleaning the home and adding a fresh coat of paint is one of the simplest changes to make. When you don’t, buyers will wonder what big issues you have failed to take care of on the inside of the home, such as plumbing, electrical wiring, and more. If there are cracks in the steps or sidewalk, see how much it costs to have those issues resolved. A cheaper way to clean the outside of the home is with a pressure-washer. It will generally work on the sidewalks and driveway, as well as decks.

 

Add Some Color

Painting the home is a good way to make your property look more colorful and refreshing. You can also spruce up the home’s exterior by planting some colorful plants. Add a few plants to the porch, or plant some flower beds in the front of your home. Stay away from artificial flowers; this is a turn-off for most buyers, especially millennials. You can make the home seem brighter by opening the curtains and blinds. Homes that look brighter and more welcoming sell faster than homes that have a dull exterior.

 

The Numbering

If you have old, dingy numbers on your door, buyers may take this as a sign of a poorly maintained home. The numbers on your home need to be shiny, clean, and easy to read. Replace any dingy numbers on the home with clean numbers that complement the style of your property. For instance, if you have completed upgrades and renovations to the property that coincide with the current trends, the numbers on the outside of the home should be more modern.

 

Take a Look at the Roof

You can look up toward the sky to see if any repairs are necessary. Check for dirty or missing shingles. If the roof looks dingy or streaked, change the shingles before placing your home on the market. Sometimes all it takes is a good cleaning to give the roof that appeal it needs to attract buyers. It is important that you give your roof that extra glance. Keep in mind that a buyer will thoroughly check out your home, which includes a roof inspection.

Making a great impression with buyers could bring you closer to selling your home, for a great price. If you use these tips, you could wow buyers from the curb, and get them into the house for a proper viewing!


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6 High-Return Home Upgrades That Every Homeowner Should Consider
Posted on Tue, 31 Jan 2017, 09:15:00 AM  in Home selling tips
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All homeowners should have strategic plans for updating their properties throughout the years. These efforts are essential for keeping residential units on par with local standards and for ensuring high returns on these investments. Whether you intend to remain in your current abode for the rest of your life or want to sell your property for profit within the next several years, following are six, high-return upgrades that are well-worth consideration.

 6 High-Return Home Upgrades That Every Homeowner Should Consider

  1. New Siding

Having new siding installed is an investment that will pay for itself many times over. New siding will improve overall building insulation, thereby making it both cheaper and easier to maintain ambient temperatures indoors. This upgrade can be especially beneficial for buildings that have asbestos-containing siding at their exterior. It will eliminate the need for costly and unpleasant disclosures that can bring sales to a grinding halt, while additionally protecting the health of both residents and locals.

 

  1. High-End Rooftop Drainage Systems

Property owners are often encouraged to invest in projects that increase the curbside appeal of their units. While incorporating new landscaping features can certainly add aesthetic value, it is far better to focus on property additions that have intrinsic and functional value as well. One of the most popular improvements among savvy investors is the addition of all-copper gutters and downspouts. Copper gutter systems are incredibly durable and long-lasting. In fact, these additions are estimated to last for up to 100 years. They also beautify residential building structures and are capable of making them stand out, which can be especially beneficial if you're attempting to offload a unit that's surrounded by a number of similar-looking buildings.

 

  1. All-Copper Sinks

Copper isn't just a great addition for the outside of your property. It's also the perfect way to enhance the beauty, value and usability of bathroom and kitchen sinks. This metal has inherent, antimicrobial properties that naturally limit the presence of harmful bacteria. They're also less prone to rust and corrosion over time, even when used extensively. Available in a vast range of shapes, sizes and styles, both hammered and smooth copper sinks blend well with a number of contemporary and conventional decorating schemes to create a luxurious look that's surprisingly easy to maintain.

 

  1. Basement Finishing

For property owners with unfinished basements, investing in services to complete and enhance these spaces is the ideal way to build sweat equity. These projects greatly increase the amount of usable space at the interior of the home. At the very least, a finished basement can become a functional storage space. With vision and a slightly larger budget, a finished basement can also be turned into a functional wine cellar, an additional family room, an office or even an in-law apartment.

 

  1. Hardwood Floors Or Ceramic Tiles

The latest trends in modern property designs include a concerted move away from carpeted flooring. More consumers are concerned with maintaining acceptably high indoor air qualities. Carpet fibres can trap and retain pet dander, dust, dirt and many other allergens. Investing in hardwood flooring, ceramic tiles or other hard, durable flooring options will make your floors easier to maintain and can greatly increase the overall marketability of your property.

 

  1. Smart Home Technologies

Smart home technologies are investments that are virtually guaranteed to provide excellent returns, whether you want to sell or intend to stay right where you are. The addition of a smart thermostat will give you the ability to remotely control your home HVAC system for far more manageable energy bills. Smart security systems and smart entertainment features also make properties far more comfortable and convenient for all property residents.

Although many home improvement plans focus solely on the kitchens and bathrooms, there's much more that you can do to improve the value and appeal of your property throughout the years. Upgraded, rooftop drainage systems and smart features and functions will make it easier to attract qualified buyers in even the most competitive markets. New sinks with their own anti-microbial properties along with other strategic home additions can also greatly increase the level of enjoyment that you get from your home right now.


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First-Time Homebuyer Mistakes to Avoid
Posted on Sun, 15 Jan 2017, 09:15:00 AM  in Home buying tips
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Probably you have been planning to acquire your dream house for long. You have scrimped and saved enough to cover the down payment, and you have even come across these lovely apartments for sale. It is your first time in the real estate market; so, you aren’t sure how to go about a successful purchase. If you don’t want to be caught up in a financial mess, here are the mistakes to avoid:First-Time Homebuyer Mistakes to Avoid

 

  1. Not Considering What You Can Afford

Consider what you afford so that you look at homes within your price range. Looking at homes outside your price range will make you lust for relatively expensive homes thus stretching your means financially. Experts suggest that you prepare a list of all your monthly expenditure including student loan payments, groceries, vehicle costs, credit card payments, health insurance and so on. Also, remember significant expenses that occur only once a year, such as annual vacations or insurance premiums. This will help you realize how much you can spend on your new home every month.

 

  1. Skipping Mortgage Qualification

What the bank is prepared to lend you and what you can afford may not match up, particularly if you have unstable income or poor credit. So, before placing an offer on a home, ensure you get pre-approved for a loan. This will help you save the seller, the seller’s agent and your agent’s time if you sign the contract and then realize later that your bank is willing to lend you a mortgage you find unacceptable.

 

  1. Neglecting To Inspect

Let’s face it—owning a home is a dream that many would wish to accomplish however tough it may be. Sometimes we come across an offer that we find hard to resist: a house that looks like it is in a perfect condition, and the price is affordable. You quickly rush to sign the papers ignoring the inspection while not knowing what is awaiting you— this is a money pit of expensive repairs.

 

  1. Ignoring To Hire an Agent

Avoid walking into an open house alone. Always hire a real estate agent. A real estate professional will help you a great deal to avoid some of the simple mistakes you could otherwise make.

 

  1. Being too picky

It is good to put everything you wish for in your new home wish list. However, avoid being too inflexible because you may end up continuing to live in a rented home for a significantly longer period than you anticipated. Usually, first-time homebuyers have to compromise on some items because of limited funds. You may be forced to live on a busy street, make some repairs in the home, accept the outdated decor, or live without that extra bedroom. Though you can choose to continue living in rented space until you can afford everything on your wish list, you will have to make a decision whether it is important to become a homeowner now or a few years later.

 

  1. Lacking vision

Even if you can’t afford major renovations in the home, it is worth to cope with the ugliness for a while and in turn get a house that you can afford without strain. If the home fits your needs regarding the unchangeable things such as the size and location, don’t allow the physical imperfections cloud your judgment and turn you away. Furthermore, upgrading the home by yourself is far much cheaper than paying the seller who has already upgraded it for you.

Buying your first home may seem stressful and devastating, and it isn’t without its fair share of potential pitfalls. Being fully informed of the issues ahead helps you protect yourself from these costly mistakes thereby giving you confidence while shopping.


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Getting Ready to Sell Your Home? What to Do About Nightmare Neighbors
Posted on Sat, 31 Dec 2016, 10:05:00 AM  in Home selling tips
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Do you have nightmare neighbors? Maybe their yard looks like the local landfill. Or, they have several not-so-friendly pit bulls that bark and growl every time someone walks by. These types of neighbors are definitely a nuisance, and can be a nightmare when it comes time to put your home on the market. They can cause potential buyers to run the other way.Getting Ready to Sell Your Home? What to Do About Nightmare Neighbors

Thankfully, there are things that you can do to resolve with these types of issues. Here are some steps that you can take to deal with unruly neighbors before you put your home on the market.

Strike up a Kind Conversation

Initially, engage your neighbor in a friendly, tactful conversation about the issues at hand. Approach your neighbor in a kind, yet assertive manner and try to work out a solution. Avoid becoming accusatory or confrontational. It will not get you anywhere. Explain that you are getting ready to put your home on the market, and you would really appreciate their help in maintaining their property or addressing other concerns. Appeal to their interests. Explain that it will also benefit them by driving up home values in the area. If your home sells for a good price, it will increase the value of their home, as well. If the neighbors are renters, then talk directly to the owner, pointing out to the owner how resolving this issue will benefit them in the long run. They have a vested interest in the neighborhood values and will likely take action to preserve that interest. 

Complain to the HOA

If you have tried to talk to your neighbor, and they refuse to cooperate, then the next step is to complain to the homeowner’s association or HOA, if you live in a subdivision that has one. Homeowner's Associations have very strict rules on how homes that are part of the HOA must be maintained. When you contact the HOA, it is best to provide photographs as evidence that your neighbor is in violation of one of the codes. It would be helpful to review the codes before contacting the HOA. If your neighbor is in violation of HOA rules, the association will initially send letters asking them to remedy the situation. If you neighbor ignores the letters, the HOA will fine them, and bring legal action, if needed. The HOA can even foreclose on a home if fines and fees are unpaid. 

Contact the City

Many cities have bylaws that prohibit noise and nuisances. Check to see if your city has bylaws or ordinances in place. If they do, then file a complaint. The city will usually send the owners a notice advising them that they are disturbing the neighbors and that further action will be taken if the disturbance does not stop. It is always best to keep an incident log when making reports. 

If All Else Fails

If you have tried all of the above and gotten nowhere, it might be time to file a lawsuit. This is something that should be considered only as a last resort. Lawsuits are expensive and time-consuming. You would most likely have to prove the harassment is intentional and meant to prevent you from selling the home. 

Dealing with nightmare neighbors can be stressful. But, it does not have to prevent you from selling your home for what it is worth. Keep the above tips in mind when you list your home and consult a knowledgeable real estate professional for guidance, as they can provide expert information to help you sell your home, even in less than ideal situations.


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5 Open House Tips that Every Buyer Should Know
Posted on Thu, 15 Dec 2016, 10:00:00 AM  in Home buying tips
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Sellers will do their best to please buyers during an open house, regardless if the seller is the homeowner or a real estate agent. However, you should never walk into the open house with a list of demands. Instead, use these tips to ensure that you have a pleasant experience.

 5 Open House Tips that Every Buyer Should Know

Scheduling

It is best to go to open houses on the weekend, unless your schedule permits you to view homes during the week. Clear your entire schedule for that day, in order to attend multiple open houses. To thoroughly look at each home, you should set aside at least an hour per property. Keep in mind that it may not take you a full-hour to view the home, but you do not want to rush. This is your chance to look at the home and gather as many details as you can about the property, first-hand. Be sure to allow yourself enough traveling time to go from one open house to another.

 

Wear Comfortable Shoes

Although you should wear presentable clothing, remember it is an open house, not a fashion show. Prepare to do a lot of walking on the inside and outside of the home. It is best to wear comfortable shoes, instead of high heels and dress shoes. You should also wear a comfortable outfit. Depending on the structure of the home, you may need to walk up a lot of stairs, so keep this in mind when choosing the shoes that you are going to wear while viewing the home.

 

Respect the Host

You should always be polite to the host, regardless if it is a homeowner or real estate agent. It is never a good idea to give the host the cold shoulder. When you walk in, smile and greet the host, and be sure to sign in. If the host is too pushy, or makes you uncomfortable, let him know that you or your Realtor will be in touch, thank him, and leave. If you like the property, being respectful of the host could mean more information, and possibly a better deal.

 

Understand Boundaries

While you have the right to look at the property thoroughly, you should not rummage through the personal items of the seller. Check out the amount of storage that the home has, including closet space, but do not touch the seller’s clothes if they are hanging in the closets. It is okay to measure the width and length of the cabinets in the bathroom and kitchen. When looking in drawers, cabinets, and closets, see if anything squeaks or is broken. However, you should respect boundaries and never rummage through personal items.

You should take pictures of the home, but only after you have asked permission to do so. Remember that this property is likely a private residence, so you always want to ask if it is okay to record or photograph rooms in the home.

 

Hold Off on the Criticism

You may have issues with the home, and decide that it is not the property for you; this is normal. However, you should never criticize the home to the host. Wait until you have left and discuss the property with your family, friends, or real estate agent. The seller may be the host, and if she still lives in the property, you do not want to criticize her home. If you do not have anything nice to say, do not say anything at all. If you were to end up in a multiple offer situation, you do not want a seller to choose the other buyer simply because she overheard you criticizing her home. You can ask questions and voice concerns over repairs and other issues, but refrain from using a rude tone.

These tips will help you have a successful viewing. Remember to always ask questions in a polite manner. Be respectful of the host, but also gather enough information to use during the decision process.


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Organize The Closet Of Your New Master Bedroom
Posted on Wed, 30 Nov 2016, 12:50:00 PM  in Marketing strategies
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There is nothing like organizing the closet of your new home. It allows you to create an organizational system that may not have worked in your previous closet. One example is the closet in your new master bedroom, which is going to be the source of your seasonal and year round items. Use the following tips to organize the closet in your master bedroom.Organize The Closet Of Your New Master Bedroom

Clear Out The Clutter: The first step to organizing your new closet is to clear out the clutter. You should actually do this before you start packing so you can lighten the load. The best way to eliminate the clutter is to take everything out of your closet. You are going to separate the items based on what you plan to keep, donate or give away, sell and discard. Purging your closet creates more space and allows you to focus on the items you plan to keep.

Create Ample Lighting: You need to create ample lighting if you want your closet to be a functional space. Consider using an LED bulb to brighten your space without consuming a lot of energy. You may be able to fit an actual lamp inside a larger or walk-in closet.

Hanging Your Clothes: Hang the clothes you plan to wear this season and year round, and pack the clothes you are not going to wear this season in a storage bin or comforter bag. Come up with an organizational system for the clothes you plan to hang up, such as hanging them by color, size or occasion. You can also hang your outfits based on what you plan to wear each week, but this method does require you to change the order of your clothes once a week.

Organize The Shelves: Your closet may include built-in cubbies or shelves for folded clothes or accessories. The items you wear several times a month should go on the top shelves, and the items you wear less frequently should be stored on the bottom shelves. Store the items you wear daily or several times a week at eye level so you can access them with ease.

Use A Small Dresser: A small dresser is perfect for large or walk-in closets with plenty of space. You can use the actual drawers for scarves, winter accessories and items that need to be folded. Use the top of the dresser for items such as your jewelry box or tabletop hat rack.

Shoe Organizer: It is always frustrating to spend time looking for your shoes when you need to head out the door. This is why you should consider investing in a shoe organizer for your new closet. There are different types of shoe organizers, from a shoe cubby to an over-the-door rack. You are sure to find an organizer that fits your bedroom closet.

Maximize Your Space: Maximizing your space is important if you do not have a lot of room in your new closet. Store your seasonal items on the upper closet shelves, and arrange your shoes neatly on the closet floor. You can use over-the-door organizers for items such as hats, belts and scarves.

Seating Arrangement: If your space allows it, consider placing a seating arrangement inside your closet for easy dressing. One idea is to invest in a bench with shoe storage for your walk-in closet. You can use a stool or chair to add a seating arrangement to a regular closet.

You are going to use the closet in your master bedroom daily, and you do not want to pull your hair out trying to find a specific item. A good organizational system can create a functional spot inside your master bedroom.


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How To Price Your Home Just Right
Posted on Tue, 15 Nov 2016, 12:45:00 PM  in Home selling tips
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 Pricing a home is truly a science. However, when it comes to setting a price, many homeowners want to listen to their hearts rather than the cold hard facts. However, experience tells us that the numbers don't lie and in order to sell your home, you will need to accept the professional's assessment of your home's fair market value.

 How To Price Your Home Just Right

Beware Of Overpricing

All too often, homeowners mistakenly think that that they should overprice their home at first. However, this strategy never pans out as they think it will and they sacrifice most of the buyers in the process. Overpriced homes stay on the market for much longer than other homes in the area and often cause delays for sellers who are looking to move into a new home. Even worse, if they have already purchased their next home, then they are saddled with two mortgages.

Sure, it is possible to lower the initial price of your home. However, homeowners should beware. If they continually lower the price of their home, the home may develop a stigma as home buyers wonder what may be wrong with the home to warrant the continual price drops. The best thing you can do to market and sell your home is to price it right from the beginning. This way, your home will sell faster. Who knows, in the right market, with a well-priced home, you may even land more than one offer.

 

Why Your Home May Not Be Worth As Much As You Think

Most homeowners who overvalue their home's worth either confuse their home's sentimental value with its dollar value or they believe that their home is more valuable because of the renovations that they have made.

Unfortunately, buyers do not see the cherished memories when they walk into the home and they certainly do not equate the sentimental value into a monetary sum. Likewise, buyers do not necessarily value all of the renovations the same way that the seller does, and no buyer is willing to pay more than the price of similar homes in the area that have sold recently.

 

The Numbers Don't Lie

What is the best way to price your home? The answer is simple, get the help of a real estate agent. Real estate professionals are able to look at the comparable sales in the area. These recent sales help agents determine what would be the fair market value of the home. This value can help you arrive at a listing price that will be competitive in your home's current market. Agents look at a huge amount of data and variables to arrive at this price. They look at information such as square footage, amenities, floor plans, and more. Additionally, all of the information comes from homes that have sold in your area in the last few months.

Once the agent has collected the list of similar homes and the prices that buyers were willing to pay for them, they are able to make an estimate of what they believe your home will fetch on the current real estate market. Although this number may be less than you hoped, you will be glad when your home sells quickly.


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6 Tips For Renovating Your Basement To Perfection
Monday, 31 October 2016, 12:00:00 AM
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Whether you just bought a new house or are looking to sell your home you may be in need of a basement renovation. Here are 6 tips for renovating your basement to perfection. Renovating your basement may be hard work but is more than worth It once it's complete.

 

6 Tips For Renovating Your Basement To Perfection1. Make Sure There Are Exits

The most important tip of renovating your basement is to make sure that there are exit windows to get out of the basement in case of an emergency. It is required for any bedrooms you build in the basement to have escape windows in them in the event that there is an emergency. If you do not have an exit window in what you want to be a bedroom in the basement it will not count as a bedroom so it won't be counted in the overall value of your home as a bedroom. However, if you do put a bedroom in your basement and it has an escape window it counts as a bedroom and can make your home value go up when it's time to sell.

 

2. Get Rid Of Any Moisture

The second most important tips for renovating your basement is to make sure there is no moisture or water getting into your basement as this can cause damage such as moldy or soggy insulation and even wrecked floors. If there is no moisture then you are good to go but if there is you need to figure out how to stop it from coming it before renovating the basement.


3. 
Livable Ceiling Height

Some basements do not have high enough ceilings for them to be used as a living space. If this is the case in your basement you may have to figure out a way to make the ceilings higher so that you can renovate your basement to where it is able to be a living space. One option to fixing this problem is to dig the floor down in order to have more height in the basement.

 

4.Don’t Cover Anything Up

When it comes time to put the ceilings into your basement make sure that there is no wires or duct work that you may need to get at in the future. Chances are if there is something that connects to the upstairs your going to have get at it at one point or another. An option for being able to get at any wires or duct work would be by putting in a drop ceiling. Drop ceilings are tiles that can be moved if they need to be.


5. Basement Style

Once you figure out if there are any ceiling or water damage problems and get them fixed you have to decide if you want your basement to be renovated as a separate living space from the rest of your house or if you want it to match and flow with the rest of your house. Some ways that it could be similar is by using the same floors, wall colors, and even fixtures that are used in the rest of your home.


6. Building a Utility Room 

The utilities in your basement are not meant to be moved or renovated at all. So when renovating your basement you have to work around the utilities such as the hot water heater and the furnace. You can do this by putting a wall up between the utilities and living space and have a door to get to where the utilities are. By doing this you won't have to even see the utilities well you are in the living quarters part of the basement.


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ZOI OUZAS Sales Representative
RE/MAX Garden City Realty Inc., Brokerage
64 Main Street West, Grimsby ON L3M 1R6
Office: (905)-945-0660 Office: (905)-563-8527
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