Imagine driving through a desirable neighbourhood and, just as you turn a corner, you see the absolutely perfect home. Guess what? It’s for sale! But, there’s a problem. Your current property isn’t on the market. In fact, until this moment, you hadn’t seriously considered moving.
So what do you do?
Your first step is to find out more about the listing. Get a description of the property. Find out the listing price. Check out the size, layout, number of bedrooms and other features. If it all looks good, schedule a viewing. Chances are, you can do all that in less than a day. If you go to see the property and still love it, your next step is to determine if it fits within your budget.
To do that, you’ll need to quickly find out the Current Market Value of your home — what it will likely sell for — so you can determine how much money you’ll have available after your outstanding mortgage and any other costs are deducted. It’s a smart idea to speak to your lender about getting a pre-approved mortgage at this point too.
Next, you’ll need to make an offer on the new home. Depending on the competitiveness of the neighbourhood, and the likelihood of multiple offers, you might need to list your home first. That, along with a pre-approved mortgage, will make your offer more credible. You might end up buying the new home before your current property sells. Although that might cause some jitters, this scenario happens all the time in real estate. If you do the right things, and prepare your home properly, there’s a good probability it will sell in time and that everything else regarding the two transactions will go smoothly.
But, you do need to move quickly and make some fast decisions if you want to get that perfect home.
I can help. Give me a call! (416) 779-8732
Imagine finding a home that is perfect in every way, except for one nagging thing. That “thing” might be a smaller kitchen than you want, fewer closets than you need, or flooring that you dislike. Should you buy it anyway? How do you know if you should take a pass? It’s not an easy decision to make and depends on a number of factors.
Trying to answer these questions might help:
• How likely is it that you’ll find another home that better meets your needs?
• How soon do you want to move? (If you’re in a time crunch, you may need to adjust your expectations.)
• Is the “except for…” something that can be fixed, perhaps with a renovation? For example, there are many ways to expand a small kitchen.
• If the home’s shortcoming is fixable, approximately how much will that cost? It might turn out that the improvement is a good investment.
• Can you live with the nagging “thing”, especially when the home is otherwise perfect?
It can be tough to work through a decision like this, especially if you’re in a situation where you need to make an offer quickly. Call me for help!
Have you ever shopped for a gift and had no idea what to buy? You may have gone from store to store hoping for inspiration, only to discover you wasted hours. Obviously, if you had a clear idea of what you wanted to find, you’d find it faster.
The same holds true when looking for a condo. The clearer you are about the kind of condo you want, the more likely you are to find it – and get it!
The best way to get clarity is to start big and then go small. That simply means you start by identifying the biggest thing – the area in which you want to live. Whatare the characteristics of the ideal neighbourhood for you? Make a list.
Next, go from biggest down one notch and think about the type of condo you want. Size? Features?
Finally, think about the inside of your next dream condo. Consider the number of bedrooms, size of the kitchen or living room, and any special features you might want.
Have fun imagining the next perfect condo for you. You may discover it’s available on the market now – or maybe it will be soon.
With the risk of severe weather seeming to increase year after year, it may be prudent to take the time to check the condition of your roof before an emergency arises.
As a homeowner, you want to know that your roof can withstand fierce wind storms and heavy bouts of precipitation. However, it’s also important to know that even a small, unnoticed flaw can cause major problems over time. A single breach in your roof’s water shedding and sealing properties could develop into a problem that costs more than the price of replacing a few shingles.
Once a roof is compromised, either by a lifted tile or a cracked seal, water can continually seep in unnoticed for weeks, months or even years, ruining insulation, rotting structural wood, or damaging an interior ceiling. So beyond the overall condition of your roof, watch out for curling or lifting tiles, and cracked seals around vents and pipes.
When you think about looking for a new home, one of the first questions that probably comes to mind is: “What type of property can I afford?”
That’s an important question because your price range is a major determining factor in the types and sizes of homes you should be viewing. You don’t want to waste time looking at properties that are beyond your price range. At the same time, you don’t want to purchase a less-than-ideal home, only to realize later on that you could have afforded more.
So how do you determine what type of new home you are qualified to purchase?
The first step is to find out what your current property would likely sell for in today’s market. I make that calculation for clients all the time. It involves reviewing what homes similar to yours have sold for recently, as well as other data — such as special features your home may have that are likely to boost the selling price.
Once you know the current market value of your home, subtract any outstanding mortgages and estimated selling expenses, and you’ll end up with an amount that can be applied to the purchase of your next home. (You may also have other funds you want to use.)
The next step is to talk to a lender or mortgage broker to see how much of a new mortgage you qualify for. (Call me if you need a recommendation.) It’s important to get a Pre-Qualification or Pre-Approval. That makes the offer you make on a new home more credible.
If you want to find out the types and sizes of homes you can get into, give me a call. I’d be happy to show you the possibilities!
Do you ever buy products that say, “some assembly required”? If you’re like most people, that statement makes you worry that you’ll end up spending hours struggling to put the item together. In some cases, you might even decide not to buy it, just to avoid the frustration!
As a homeowner, you might have a similar concern when it comes to selling your home. You may be thinking of selling, but the process of getting your property ready and putting it on the market seems overwhelming. It may even make you hesitate.
Those listing jitters are understandable. Fortunately, there’s a cure. You simply need to get informed about the process.
You need to get the facts about:
• Exactly what you need to do, to prepare your home for sale.
• What your home is worth on today’s market.
• How long it will likely take to sell your property.
• How viewings and possible open houses will be handled.
• What the ideal strategy is for selling your home quickly, and for the best price.
Once you have all this information, you’ll know what to expect and the selling process will be easier and less stressful.
As temperatures begin to rise, you’ll want to be sure your air conditioning is operating at maximum efficiency. Beyond maintaining the basic operation of your A/C unit, there are several ways to reduce the load on your system, and ensure your home air temperature is optimal.
For example, opening window awnings or closing heavy drapery can help keep the heat out. This will make a significant difference in the temperature inside your home and will reduce the burden on your A/C.
Also, a dehumidifier will lower moisture levels making the air inside your home feel more comfortable, while a ceiling fan will increase circulation, making rooms more bearable at higher temperatures.
To further reduce costs, consider localizing your central cooling so you can isolate and close doors to rooms that are not in frequent use. Also, reducing your use of heat generating major appliances such as your oven, cooktop, dishwasher, laundry machines and non-LED lighting will cut down on the ambient heat in your home.
Buying a new pair of shoes is relatively easy. Once you find the style you like, all you need to do is try them on and see if they fit. If they do, you go to the cash register and pay. When it comes to size, buying a new home can be trickier! Whether your intention is to upsize or downsize, figuring out the right size can be especially challenging.
Say for example, you’re downsizing from a large two-story home to a smaller bungalow. You don’t want to underestimate the space you need and end up in a place that feels tight. If you’re going the other way and upsizing, you don’t want to end up sinking extra money into a property that’s larger than you really need.
So how do you avoid these scenarios?
One of the best ways is to start by considering your current home. Do you use all the rooms in your home regularly? Is there a bedroom that’s rarely occupied? Has the recreation room become simply a storage area? If you’re downsizing, subtracting rooms you scarcely use can give you a better idea of what you need in a new home.
Upsizing is a bit more challenging because you have to anticipate what you will need in the future. For example, if you have young children, and your place is feeling cramped, then a home with a recreation room or separate family and living rooms may be a good idea.
You may also need a bigger kitchen with a spacious eating area (in addition to a separate dining room.)Think about the extra room you’ll need and how you’ll use that space. When I work with a client, I typically sit down with them and discuss the type of home they want in detail — and, based on needs and circumstance, I make expert recommendations. Bottom line, I help clients find the perfect fit in a new home.
Contact me if you’d like to learn more! 416-779-8732
There are many good reasons to put your property on the market. Some examples include a relocation, the kids leaving the nest, the need for something bigger or smaller, and the list goes on and on. However, there are also some less-than-obvious indicators that it may be time to sell.
Consider the following:
1. Your Property is no longer a Good “Fit”
Your home may have been perfect for you when you bought it. But things change. Families grow. Needs evolve. For any number of reasons, your property may no longer be a good fit for you. If that’s the case, it makes sense to at least take a look at what’s available on the market. Who knows? Your next “perfect” home may be for sale right now — within your price range!
2. The Neighbourhood is Changing
You may have been in love with the neighbourhood when you first moved in. But, over time, the characteristics of any area can change. Those changes don’t necessarily mean the neighbourhood is getting worse. In fact, it may be changing in a positive way; perhaps becoming more urban. But, “more urban” may not be what you want. So take a look at the direction your neighbourhood is heading. Ask yourself, “Do I still want to be living here in two years?”
3. You’re Ready for Your Dream Home
Remember when you purchased your current property? Did it have every feature you wanted? Was it your dream home? Or, did you have to compromise on a few things, such as the size of the kitchen? If you had to make some tough choices back then, it might be time for you to finally get the home of your dreams.
Those are just three indicators it may be time for you to make a move. Of course, there are many others.
Providing valuable information and helpful services to valued clients like you is important to me. So, if there’s anything else I can do to help you with your real estate investment – such as offering additional advice, information or recommendations, please remember I’m here for you.
If you want Market Statistics for your area please give me a call!