Buying a Home in a Competitive Neighbourhood

If you’ve dreamed of living in a particular neighbourhood, perhaps for years, when you're finally ready to make a move, finding out that the area is competitive and buying there is a challenge can be disheartening.

With an experienced Realtor this shouldn’t mean heartbreak.

There is a lot you can do to buy in a popular neighbourhood, even in competitive offer situations.

Your first step is to start targeting that area now. Find out about property types, prices and trends. In particular, you’ll need to know what price range you should be thinking about, and making sure that it’s going to fit your budget. To do that, you might need to get a determination of the fair market value of your current home. To do this, submit your info here and I will be in touch to arrange an evaluation.

Next, begin making preparations so you can get a jump on opportunities in that neighbourhood quickly. You don't want to see a great property come on the market and not be ready to make a move. So, get your current home in order so it’s ready for a quick listing.

If possible, make arrangements to get alerted to new listings as soon as they come on the market. Keep in mind that a new listing may not appear online for several days. By getting advance notice, you can be among the first buyers to see the home and have an early advantage over other buyers.

If it's likely there's going to be competing offers for the home you want, there are many strategies that can increase your chances of winning. These involve going in at the right price, minimizing conditions to the offer, presenting the offer appropriately, and negotiating effectively.

Is there a neighbourhood you want to get into? I can make you a comprehensive strategy and guide you through the process to help you into your dream home. Contact me today.

Does the Area Have What You Want?

Imagine going to a restaurant with your family for dinner. You're planning on ordering a nice pasta and salad. Your heart is set on it. But, after you go to the trouble of driving there and getting a table, you discover that pasta is not on the menu.

That’s disappointing!

Of course, it’s only a meal. You can go somewhere else next time. But, what if the same scenario played out once you had moved into a new neighbourhood? Imagine you were counting on public transit being in easy walking distance, but discovered the nearest stop is four blocks away!

That's why it's important to ensure a neighbourhood has the characteristics you want — before you make an offer on a home you like.

Think about what you want most in a neighbourhood. Consider work, commuting, schools, playgrounds, noise level, walking and cycling, hobbies, shopping, entertainment, etc.

If there is a neighbourhood feature that is very important to you, check it out for yourself. For example, if easy access to a main highway is desirable for commuting, take the route for a test drive.

You can get a lot of information on a neighbourhood through the listed property's description and MLS listing.

Want more in-depth insights into an area you're considering? I have that information. Call today.

Staging your Home in a Hurry

Ideally you should have a week or two available prior to listing your property in order to stage your home and make it look its best for buyers. But, what if you need to list quickly? You will need to get your home ready for photographs to be taken and for buyers to walk through.

In that scenario, you need to do some quick "staging" to get your home ready. Let's assume your property is already clean and tidy. Here are some other things you can do.

• Open the curtains, even at night. This will make each room seem brighter, more appealing and more spacious.

• Pull out some boxes or storage bins. Put away personal knick-knacks (like that bowling trophy) and other personal items to reduce clutter on shelves and countertops.

• Clear countertops in the kitchen and bathrooms. Put most or all small appliances out of sight.

• Make sure lighting throughout the house is bright and comfortable. In darker areas, plug in a lamp.

• Clear away as much as you can in the foyer. Make that space look open, uncluttered and welcoming.

• Move cars out of the driveway.

• Make the beds. Fluff pillows on sofas.

• Clear away as many items as possible from the closet floors (such as shoes).

• Open a window and air out the kitchen, especially if you just finished cooking.

Make sure your pet is in a crate or, if possible, out for a walk. Not everyone loves pets.

These staging tips take only a few minutes each, but can make a big difference in the impression your home makes on a buyer.

Want more advice on how to prepare your home for the market? Get in touch for a consultation and free home evaluation.

Relocating to a New Town or City

Moving around the corner or even across town is relatively simple because you are likely familiar with the various neighbourhoods and you can access them anytime. If there's a listed home you want to view, you can simply go see it.

Relocating to a different town or city, however, is much more challenging. It may not be possible for you to make multiple visits to see homes for sale. You may also be unfamiliar with the various neighbourhoods.

So what do you do if you want to move out-of-town or need to relocate due to work?

Your first step is to get the information you need. You'll want up-to-date data on the neighbourhoods so you can pinpoint the ones that are the best fit for your needs and lifestyle. You'll also want to get a sense of the types of homes for sale in those neighbourhoods — style, size, features, listing price, etc.

Your next step is to schedule a day to view homes. This visit must be carefully planned so you only see those properties that are likely to be of interest. You don’t want to travel all that way only to end up seeing properties you wouldn't likely buy. What a waste of time!

So, if you’re relocating, you’ll need help. Give me a call. I can help make the relocation go smoothly for you.

9 Steps to Finding your Next Dream Home

If you're thinking ahead to your next dream home, the road you need to take to get there may seem confusing. Do you search for listings online? Drop by Open Houses on the weekends? Call the number on For Sale signs?

Let's break it all down! Here are the specific steps you need to take to ensure you find a home that fits your wants, needs and budget.

1. Find out how much your current property will likely sell for on today’s market. Submit a request for a free home evaluation here!

2. Arrange for financing, so you know what you can afford. Pre-approval for financing often makes offers more appealing to sellers.

3. Select neighbourhoods you'd love to live in. (That may involve some

   fun exploring!)

4. Decide on the type of home you want to buy. (For example:

   detached, three-bedroom, etc.)

5. Prioritize the property features you want most, so you can be flexible

   if a feature is missing from a home listed on the market that is

   otherwise ideal.

6. View properties on the market that closely fit your criteria, particularly

   new listings that may not yet be posted online. (Tip: Arrange with your Realtor to be

   immediately notified of new listings that are a good fit for you.)

7. When you find a home you want, make an offer designed to get the

   property — without overpaying. This is where working with a top Realtor will give you a strong advantage.

8. Negotiate until you secure the deal. This may involve counter-offers.

9. If the negotiation is skillfully done and all goes well, the home is

   yours.

As you can see, there isn't a lot of mystery in finding your next dream home. You just need to take the steps and get the professional help you need along the way.

Looking for a real estate agent that can get you to the finish line? Call today!

When a Home Inspector Finds an Issue

Imagine you've found the perfect home. You love it. You've made an offer that's been accepted. So far so good! The only catch? You've wisely made the offer conditional on passing a professional home inspection.

What happens if that home inspection reveals a major issue?

First, you should know that, depending on the age of the property, a home inspection will typically turn up at least a few areas of concern. The inspector might find loose insulation in the attic that is thinning out or roofing shingles that will need replacing in two or three years.

Issues like those are not usually deal-breakers.

However, if the home inspector finds a major issue — such as old wiring that's worn and presents a safety concern — then you're facing a potentially high cost of repair should the deal go through.

In a situation like that, as your real estate agent, I will address the issue with the seller, usually through the seller's agent. Since neither of you will want to lose the deal, the seller often agrees to get the repair done at his own expense or, have some or all of the estimated repair cost deducted from the sale price.

Will the deal be in jeopardy? Usually not. In most cases, if you have a real estate agent like me working in your best interests, it all works out.

Taking the Stress Out of Selling your Home

For some people, the thought of listing their home for sale is stressful. They worry about the lengthy to do list and all the things that could go wrong.

Luckily, it doesn't have to be that way. Here are some tips for making your home sale go smoothly:

• Give yourself time to prepare. If you're thinking of selling six months from now, start preparing your property now. Do any necessary staging, and get it looking its best. Avoid doing these tasks at the last minute.

• Set the right price. Pricing your property too high will likely result in few, if any, buyers coming to see it. You might end up having to lower your price later, causing your home to linger even longer on the market. That's stress you don't need!

• Have a flexible viewing schedule. If you make it too difficult for buyers to see your property, they might lose interest or simply choose to buy another home. Be as flexible as possible when a buyer wants to view your property.

• Plan get-away activities. When a buyer comes for a scheduled viewing, don't be home. Instead, plan some fun activities for your family. Think: playground, shopping, cycling, the zoo, etc.

• Accept the ups and downs. Prospective buyers might say they love your home and plan to make an offer. Then you don't hear from them again! It happens! Accept the inevitable ups and downs of selling your home.

• Get help with repairs. You'll probably have things that need to be fixed around the home, like a dripping faucet that needs repair or a room that needs painting. If possible, hire a professional to do some of that work.

• Finally, work with a great real estate agent. That will make the biggest difference in ensuring your move goes smoothly and stress-free.

  Looking for a real estate agent like that? Call me!

How to Buy a Home in a "Hot" Area

Is there an area you'd love to get into that's "hot"? In other words, an area where, as soon as a new home comes up for sale, buyers are clamouring to see it?

It can be intimidating to try to buy into a neighbourhood like that. On one hand, it's the type of area you'd love to call home. After all, there are good reasons why it's so popular! On the other hand, you might be discouraged by the competitiveness and prices.

If you want to live in that neighbourhood, there are a couple of things you can do that will increase your chances of success.

The first is to create a strategy. Most buyers rush to see a listing in a desirable area only when it shows up on MLS — or sometimes only when it's advertised. You'll have a better chance of getting into the neighbourhood if you are alerted the moment a property comes up for sale and you have pre-arranged financing. I can always set up an email notification for homes that match your criteria. You’ll get to the head of the line and be ready to make a credible offer.

The second option is to consider targeting other neighbourhoods with similar characteristics. You may have long-dreamed of living in Prestigious Area A, yet there might be a Hidden Gem Area B that is just as good. Maybe it’s even better! I have an extensive knowledge of neighbourhoods in the area and can help you find suitable alternatives if need be.

Ultimately, your goal is to find the home you want in a neighbourhood you like. The right strategy will get you there.

Contact me for more information.

Finding a New Home on a Tight Schedule

Wouldn't it be nice if you had all the time in the world to find your next dream home? You could leisurely browse the current listings, select homes you'd like to see, schedule visits on dates that are most convenient for you, and make an offer on a property only after you've had plenty of time to consider all the alternatives.

Sure, that sometimes happens, but it's not typical. Often, people shopping for a home are on a timeline. Like when you choose to sell prior to purchasing and your closing date is coming up fast.

So how do you find your next dream home when you don't have all the time in the world?

First, you need to develop a clear picture of the home you're looking to buy. How many bedrooms? What size of property? What type of structure (two story, back split, etc.)? Then, you need to list your preferences. These might include "large kitchen" or "main floor office".

Once you've completed that exercise, you'll have a more detailed profile of the type of property you want. That will make it easier to decide which of the listings on the market you want to see.

You should also narrow down the area in which you'd like to live. If you have three or four targeted areas, and only consider listings in those areas, your home search will be much faster.

What if you don't know the neighbourhoods well? Visit a few. Drive around. Explore. Get as much neighbourhood data as possible, such as demographics, recreational activities, parks, shopping, schools, etc. Then choose the neighbourhoods that fit your lifestyle. (Click for Kitchener and Waterloo info)

Finally, the best way to find a new home on a tight schedule is to work with the right real estate agent — someone who, like me, is experienced in the local market. I can save you countless hours of searching, and help you narrow down your options. As always it doesn’t cost you anything to work with a Realtor to purchase a home and we protect your best interest.

As always if you have any questions, or are just looking for an update on the market, call me anytime.

Balancing the Emotional and Practical Sides of Buying a Home

Imagine this scenario:

You're shopping for a new home. You drive to visit a recent listing. As you walk through the front doors, you're impressed. Every room looks fantastic. You see yourself relaxing on the spacious patio, cooking in the modern kitchen, and enjoying evenings with the family in the cozy living room.

Your emotions are on overdrive. This is your dream home!

Should you make an offer? Probably. In fact, you should make that decision quickly in case there are other interested buyers.

However, your decision shouldn't be guided purely by emotion. You want to make sure you take practical matters into consideration too.

For example, you'll want to consider:

• Is the property within your price range?

• Does it have everything you need?

• Do you like the neighbourhood?

• How old is the property? Are there items, such as the furnace, that

  may need to be replaced soon?

• Will it need any major repairs or upgrades?

• What are the average monthly costs of carrying the home? (Property taxes, utilities, etc.)
  

Once you've considered the purchase of the home from a practical standpoint, you'll have a lot more confidence in your decision when you make an offer.

Need help? Call me.

Setting Your List Price Requires Calculation and Savvy

When you're having a garage sale, one of the toughest tasks is pricing your items. If you put a price tag on your old golf clubs that’s too high, no one will buy them. If you make the price too low, they might sell quickly, but you’ll spend the rest of the day wondering if you could have gotten more!

It's similar to selling your home — except with your home, the stakes are much higher. You want to price your property to sell, but you don’t want to leave any money on the table.

How do you accomplish that?

Setting the right list price for your home requires a combination of skilled calculation and industry savvy.

Let's start with the "calculation" part...

This is where working with a Realtor gives you an edge. I'll review recently sold properties that are similar to yours in type, size, features and location. Then, using that data, we’ll calculate a range that represents your property's "current market value."

For example, consider a spacious 15-year-old bungalow in a nice neighbourhood. If similar homes in the area have sold for $475,000- $550,000 in the last six months, then it's obvious that your home should sell in that range too. A list price above or below that range would be in the danger zone.

But skilled calculation is only half the task.

Setting your list price also requires expertise in the local market, combined with good old-fashioned gut instinct. That instinct comes from being on the front lines of many property transactions.

That's why working with a good real estate salesperson is so important, when you’re deciding on the list price for your home.

Want to discuss selling your home? Call me.

Steps to Selling

Getting Ready to Sell - Decluttering

After living in a home for several years your habits have set, and your taste has entrenched itself within the walls of your home. It is functional, and everything you need is close at hand. We often get more relaxed about organization the longer that we live somewhere, so decluttering and organizing your home becomes integral step in getting your home ready for the market. Functional may make you happy but isn’t always pleasing to potential buyers.

This can seem like a daunting task, but if you approach it the right way it can actually help pair things down and making packing and moving easier. First consider what you are currently actively using, what you haven’t used in a long time, what is out of season, and what do you have multiples of.

If you have a lot of things that are old, you don’t have much use of, or know you will never use again, consider tossing it or if it’s useful hold a garage sale, post it on kijiji, or donate it. This can be difficult for some but keep in mind it will go a long way for marketing your home that these excess items are not present.

As far as things that you are not using but are out of season or you have multiples that you don’t use, pack it away. This is particularly relevant for clothing, outdoor tools, sports equipment, and outdoor decorations. Consider renting a storage space until you have moved to get excess items out of the way.

Personal Items, such as family photos, knickknacks, awards, and children’s artwork. While may be warm homey touches should be minimized and stored away until your home is sold. Your home’s staging needs to allow others to visualize their own personal touches, with too many of your own it can be difficult for potential buyers to imagine making the space their own.

Going by area here are some things to look out for:

Outside & Garage

• Get rid of excess sports equipment that isn’t in use.

• Put off season equipment in storage (ex, snow blower during summer months, lawnmower during winter months).

• Pick up any kids toys from front yard and porch.

• Organize gardening tools in sheds or garage.

Kitchen

• Remove minimally use small appliances from counter tops

• Store extra kitchen tools that don’t get used regularly

• Store unused dinnerware

• Remove hanging utensil walls or pot racks.

• Remove pot holders and dish towels from the front of the stove/ off of drawers

• Under sink can be a storage space or cleaning products, remove any that you don’t use or are almost empty, or doubles.

Bathrooms

• Countertops should be empty except for the basics: soap, toothbrush, a hand towel, and possibly one decoration that matches the bathroom theme.

• Under sink and drawers can become a goo hoarder’s paradise (half empty/ unused products), remove anything you do not use.

• Children’s bath toys – try to organize and minimize toys by keeping them in one location.

• Showers and bathtubs should also have unused bottles removed.

Bedrooms

• Nightstands and dressers should be free of extra items, like books, and photos.

• I would highly suggest removing jewelry and personal belongings.

• Keep decorative pillows to a minimum.

• Out of season clothing should be removed from your closet, and remaining clothing should be hung or folded neatly.

• Remove clothing from floors.

• Keep children’s toys organized in a toy box and off the floor.

Hallways & Closets

• Closets should have off season clothing removed to open space.

• Hallways should be clear of all items on the floor.

Living/ Dining/ Family Rooms

• Decorative pillows and throws should be minimized.

• Reduce the number of coffee table books and magazines that are in open view.

• Wall units and bookshelves that are open be tidy and organized, consider reducing the number of books, electronic equipment, or personal memorabilia.

• Decorative rugs should be slip free and lie flat if being used.

It may seem like a long list but if done over the span of a few weeks it can be a very manageable process, and it will certainly pay off in the long run by making your home more inviting to potential buyers. For extra help in determining how to stage your home contact your realtor, they should have plenty of helpful advice, and guide you through the key areas of your home.