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.

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!

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.