BUYING

Buying your first home is one of the biggest financial decisions you'll ever make. It can be quite emotional, as you are faced with a multitude of decisions. The average person will have many concerns about homeownership; however, the primary concern is whether you are actually prepared to own a home and if you qualify for a mortgage. The next concern is the location and finding a home those suits the needs of you and your family. Hiring a professional realtor to assist you in the process is important. I can help you prepare to move forward towards your home-purchasing goals.

Are you Ready?

Consider your reasons why you want to buy a home:

Want to start a family
Having a place of their own
No longer want to pay rent
Want to build equity
Upgrade to a big home due to growing family
More room to entertain

No matter what your reason, the first step is to determine what type of home you’re looking for, the community you would prefer to live in and when you would like to move. A few factors to consider are (i) the area - city, suburban neighborhood or country, (ii) the community - North, South, East, or West, (iii) the neighborhood - older and settled or sparkling new, a particular school zone, recreational facilities and other community services such as transportation, day care, library, stores and entertainment. The list goes on.

Pre-Loan Approval

After you have determined the answers to your what, where and when, your next step is to make inquiries with a bank or mortgage company about pre-qualifying for a mortgage. With the new mortgage approval rules, this could affect how much you qualify for. Click [here] for more information.

If you do not have a mortgage agent, I can arrange to get you a mortgage professional with an excellent reputation and track record for successfully acquiring loan approval for clients.

Helping you Every Step of The Way

My priority is to ensure your buying experience is seamless and successful. I will help you complete your financing, inspections and close on the transaction. With the resources and communication system available today, I can help you locate your perfect home and get you the keys to a home that is right for you

SELLING

It is often more emotional to sell a home than to buy a home, and the reason for selling your home may be a determining factor in the urgency of the sale. The urgency may also have an effect on the price of the property, that’s why it’s important to take the following factors that can influence the sale of your home into consideration:

Expenses

It is very important to first calculate the expenses that may be incurred while selling your home. This knowledge is absolutely necessary because it helps you to determine a good price for the house, as well as the potential profit that you can realize. The cost of selling your home may include things like commission to be paid to the agent, taxes, advertising costs or specific reports, such as a property inspection.

Pricing

The most important factor when putting your home on the market to sell is setting the right price. The price at which your property is marketed can make or break the deal. Over-pricing of the property may result in a smaller buyers' pool and a prolonged stay on the market that will result in lower offers being submitted. On the other hand, under-pricing of the property may result in you losing money on your investment or a buyer offering an even lower amount due to a negative perception of the property or area.

How Much Is Your Home Worth?

In today’s market, the home prices are in a colossal competition with each other. With other homes going up for sale in your community, you face the competition of getting the right price for your home. I will help you price your home competitively to attract qualified buyers. I will generate a Comparative Market Analysis (CMA) report, which will show you a range of prices being paid for homes similar in your area. To know your home value, call me for a free market evaluation of your home.

Marketing On The MLS System

Upon listing your home with me, your home is immediately entered in the Multiple Listing Service (MLS) database. Almost immediately, every Realtor® will have access to view your home on the database. In addition, your property will be included in any printed MLS books. The MLS system is widely used by buyers in finding their next home. I will make sure your home gets noticed with my effective marketing strategy.

Location

You really cannot do much about the location of your property, but it does play a very important part in the marketability of your home. For this reason, these considerations must be thought about carefully:

That your property is priced in relation to other offers in your area;
The type of neighborhood your property located in (well-established, up-and-coming or transitional); or
The location of your property - urban or rural area.

Condition of Property

The condition of your property is always a factor in how quickly your home sells. If you want to acquire the highest market value, it’s advisable to elevate your home to be above the others in the same price range. Remember - first impression is a lasting one. Below, I have listed a few inexpensive ways to maximize your home's curb appeal:

Keep your grass cut and yard clutter-free;
Apply a fresh coat of paint to any wooden fences or your front door if necessary;
Clean all windows inside and out;
Display fresh potted flowers or plants on your front porch (in Summer) and fresh greenery (in Winter);
Wash or paint your home's exterior; and
Check all gutters and other exterior fashions to ensure they are firmly attached

Working For You

If your current home is no longer meeting your future needs and you’re ready to sell, allow me to work for you to ensure you get the highest possible price for your home in the shortest period of time.

NEW MORTGAGE APPROVAL RULES

Ottawa introduced New Mortgage Requirements that have had an effect on how much you qualify for.

As of October 17, 2016, homebuyers must qualify for an interest rate greater than the conventional 5 year fixed posted rate, which is currently 4.64%.

To put it simply, you will qualify for a lesser mortgage amount.

For example, if your total household income is $100,000 under the current mortgage rules, you would qualify for roughly $650,000.

However, if your application is received after October 17, you would now only qualify for about $500,000 under the new requirements for mortgage pre-approval.

Mortgage applications received and approved before October 17 will honour the current rate and mortgage amount for up to 4 months.

HOME INSPECTION

Preparing Your Home for Inspection

When you are ready to sell your home, one of your first responsibilities is to prepare your home for inspection. As a buyer, you also want the reassurance that the home you will not get any unpleasant surprises weeks after moving into your dream home. It is wise to consider this long before you make the decision to sell. If you’re the type of homeowner who takes special care of your home over the years, this will help to make this process much easier and will reduce the need for a home inspector to make a return trip to the home (in which case, the homeowner is charged an addition fee).

A typical home inspection lasts approximately three hours and the cost varies depending on the size of your property. A qualified home inspector will take the time to examine the essential aspects of your home, which include the drainage, the roof, foundation, flooring, basement, electrical, siding, walls and much more. The inspector will also look for asbestos, urea formaldehyde foam insulation, lead paint, wiring, fuel storage tanks, insects, mould and wood rot.

Hiring a professionally-trained home inspector is advisable. Ask if they are members of a trade organization such as the Canadian Association of Home Inspectors. You will also want to check if they have Errors & Omission Insurance.

After a full inspection, the inspector will prepare an inspection report which lists the details of his search and his findings. His report will list all the limitations so you will need to ensure that you read the report carefully.

Below is a list of what a full inspection may entail:

All interior plumbing fixtures and faucets
Eaves, soffit and fascia
Main water shut off valves
Grading and drainage.
Electrical panels, breakers and fuses
Basement, foundation and crawlspace
Water penetration and foundation movement
Decks, stoops, porches, walkways, and railings
Heating systems
Cooling systems
Water heating system
Drainage sump pumps with accessible floats
Electrical service line and meter box
Main disconnect and service amperage
Grounding and bonding
GFCIís and AFCIís. Fireplace damper door and hearth
Insulation and ventilation
Garage doors, safety sensors, and openers

What I can do….

As a professional Realtor® , I am here for you from start to finish and beyond. My job doesn’t stop once you find the home and sign on the dotted line. I do this by providing honesty, care and respect and I treat every deal as if it were me buying or selling. If you’re looking for that helping hand in Real Estate, I look forward to working with you.

HOME STAGING

Home staging could be one of the best investments you will make when selling your home.

Typically it provides over triple the percentage return on your investment. Buyers who are searching for a home will be more attracted to a well-designed home with a simple layout of furniture as it gives them ideas on how they can also utilize the space.

If you’re thinking of selling your home and want to sell it quickly, you may want to consider hiring a home-stager to make your home more appealing to the broadest audiences possible. Is hiring a stager worth it? Studies have shown that 80% of homes that were not staged stayed on the market longer than the 20% that were staged. After being on the market over the 30 day mark, these homeowners hired a professional stager and these homes received offers on an average of 15-20 days after being professionally staged.

Well-placed furniture can open up rooms and make them seem larger than they are. Also, opening drapes and blinds and turning on lights makes a room seem bright and cheery. Below are some inexpensive ways to highlight your home's best features:

Clean or paint walls and ceilings;
Clean all flooring and fixtures - lights, fans;
Repair all plumbing leaks;
Remove excessive wall hangings, furniture and extra personal goods;
Turn on all lights and open the drapes during the daytime;
Play quiet background music and infuse your home with a comforting scent; and
Vacate the property when and if it's being show to prospective buyers.

Myths About Hiring a Home Stager

Home owners typically believe home stagers charge designer charges so they believe they can’t afford one, however, the cost varies and from a consultation to a full house staging and most home stages are accommodating and work with many budgets.
The seller doesn’t think buyers will notice the décor and will look past any imperfections. Most people base their decisions on visuals so if a buyer views our home and it’s beautifully decorated, they tend to focus on the layout of furniture and the features of the house. They imagine themselves living in the space….and are more likely to be consider buying it.
The home owner claim to have sold a house in the past without staging and it sold, so they don’t think they need to do it. Keeping in mind that it was in the past and times have changed, buyers are more sophisticated and are expecting to see a home that is move-in-ready.
Seller thinks there is no need to professionally decorate their home because they believe it already looks beautiful and they don’t need a stager. It has been proven that when a home is staged, it sells 50-80% faster than non-staged homes, which eliminates several potential months of carrying costs. In the end, the ROI of the home staging is worth it.

When a home goes on the market, the seller obviously wants the asking price and the buyer will want a lower than asking price. The longer a home stays on the market, the further below list price it drops. Having your home staged could be critical in preventing your home from being on the market too long. Having a professional stager prepare your home for re-sale could be the most advantageous to the seller.

How I Can Help You?

I will guide you every step of the way to make the best decision for your home staging needs. With the resources available to me of qualified home stagers, I will assist you in deciding what your staging needs are – or not to help determine how much or how little is needed, in order to maximize our sale.

HOME BUYING-HOW MUCH WILL IT REALLY COST?

Plan ahead!

Closing cost are expenses not related to the purchase or sale of a home, therefore, you will need to plan ahead and be ready for the cost of closing fees. These fees are legal fees, land transfer tax fees and property taxes. In addition, there are other expenses that you could potentially have to cover, which include mortgage life insurance premiums, utility and phone connection charges, new home warranty fees and/or condominium maintenance fee adjustments and of course moving expenses. The following expenses are just a few and may be applicable to individual cases and are provided for your information:

Deposit.

This is your down payment on the home. The current minimum down payment amount is 5% and this will give you access to mortgage insurance and get you into the housing market.

Home Inspection Fee. For extra security, you may want to ensure the home is in top condition. Having a Professional Certified Home Inspector to inspect the home is very important. His report will reveal the condition of the physical structure of the home, along with other systems within a home. The average cost for a home inspector is $250-$450.

Land Transfer

Tax fee. This land tax is a mandatory tax for Canadian provinces, which is between 0.5% and 2% of property value. This fee is calculated based on the purchase price of the property purchasing using a graduating fee scale.

Appraisal Fee.

Some Lenders require an appraisal of the property. If so, the cost will be your responsibility depending on the Lender. This is done to ensure the property will sell for at least the amount of the loan they are releasing. The average cost of an appraisal is $250 - $500.

Mortgage Loan Insurance Premium.

This is required if your down payment is less than 20%. This insurance policy benefits the Lender in the event you should default on the mortgage loan.

Status Certificate Fee.

This certificate outlines a condominium corporation's legal and financial state of affairs. This fee is not applicable in Quebec. The current cost of a status certificate is $100.

Prepaid Property Taxes and/or Utility Bills.

The current home owner will most likely have paid taxes and utilities. If so, adjustments will be made so they are credited the prepaid portion on closing.

Title Insurance.

This type of insurance is a protection of your ownership rights. It provides protection for the cost of the property in case a person or company makes………

The average cost for title insurance is between $250 - $500. Title insurance covers against title defects, title fraud and covers lenders as well in these cases.

First Time Home Buyers

Canada’s Economic Action Plan Offers Incentives for Homeownership

Buying your first home can be daunting and is the biggest investments you will make in your life. When Canada’s Economic Action Plan introduced the First-Time Home Buyers’ (FTHB) Tax Credit and the expansion of the Home Buyers’ Plan (HBP), it was designed to provide the first time home buyer with additional benefits in the process of homeownership.

With the many costs associated with purchasing a home, the Government of Canada introduced a FTHB Tax Credit in 2009, which will provide up to $750 in federal tax relief starting in 2009. For more information, visit http://www.cmhc-schl.gc.ca

Buying your first home can be an overwhelming experience but with my guidance and expertise, you will find this experience very informative, smooth and pleasing.

I will be with you every step of the way. I treat my clients as I would want to be treated and hence we keep going till we find the right one for you!