An Open House is an event. And, like many events, it’s easy to get caught up in all the excitement and energy. In fact, when you visit an Open House, you might even end up rubbing elbows with other buyers who are there at the same time.
It can feel like a party! In an environment like that, it’s not unusual to forget to ask important questions about the property. Here are some of the most common:
• How old is the roof?
• How old is the furnace, air conditioner and other HVAC equipment?
• How does the price compare to similar properties in the neighbourhood? (You don’t want to make an offer that’s too high.)
• What are the characteristics of the neighbourhood? (Amenities, safety, traffic, access to public transit, property turnover, etc.)
• What doesn’t come with the home? (Ask specifically about kitchen appliances, gas-connected BBQs, chandeliers, window coverings.)
• Are there any potential impediments to the sale? (Tenants, outstanding liens, etc.)
• Are there any outstanding maintenance issues, or repairs that need to be done? (For example, cracked ceramics on the foyer floor.)
• Are there any issues that impact the full use of the property? (Ask specifically about shared driveways or walkways, public “right of way” through the property, water drainage rights from neighbouring homes, etc.)
Yes, an Open House can feel like a frenzy, and if it’s a home you love, you might feel pressured to make an offer. But, it’s important to take the time to ask the right questions and consider your decision carefully. You don’t want to find out, too late, that there were questions you should have asked.
Want more tips on finding the home of your dreams?
Call today. (416) 779-8732
Have you ever dreamed of an exotic vacation and researched flights, hotels, excursions and other information — even when you weren’t 100% committed to going? We’ve all done that. It’s a great way to try a big decision on for size. You get an initial idea of costs. You peruse destination pictures. You imagine you and your family being there. And sometimes you actually take that vacation! Well, you can do the same with real estate. Even if moving is the farthest thing from your mind, you can explore neighbourhoods you’d like to live in, get a sense of prices in those areas, and find out what your current home would sell for in today’s market. If you find yourself doing that, give me a call. As your REALTOR®, I’m happy to answer your questions and fill you in on what’s happening in the local real estate scene. Call anytime! 416-779-8732
You’ve heard the story. Someone finds a condo on the market that seems underpriced, grabs it, and subsequently discovers it’s worth tens of thousands of dollars more than the purchase price. What a bargain! The truth is, bargains like that rarely happen. Most properties sell for somewhere close to their market values. That’s why you need to find the perfect condo for you, in the right neighbourhood, with a list price that is within your affordability range, and then buy that property for the lowest price you can negotiate.
When you shop for the right property at the right price, you have a good chance of finding and buying your dream home. But if you go into the market with a plan to find a bargain, you risk overlooking those condos that might otherwise be great opportunities for you. Why? Because your price expectations will probably be a lot lower than the actual market prices.
*Article Provided by Morris Marketing*
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Posted by Neil Pahuja on Friday, February 23, 2018
Did this Facebook Live Interview with Julia last friday at BNI. We had a Seminar on Monday night. It was our best attended yet. If you missed it you can come next monday March 5th! Call me for details. 416-779-8732. Also remember that Thursday is the last day to put your money in RRSP’s. If you Plan to use the Home Buyers Plan to Increase your down payment this year 2018, Call me today. You don’t have any time to wait to increase your down payment by 30% by using this Government Plans.