Real Estate Blog - buy home

When to buy a home

First things First

The home financing and mortgage regulations have changed in recent years so it’s important that you investigate the rules of your province. In most cases you can no longer purchase a home without a down payment of some sort. For first time buyers this can be as little as 5% of the home price, and for subsequent buyers it must be at least 20%. Although it may seem obvious, the first rule for deciding when to buy a home is ensuring you have all your finances in place, this includes your closing costs which are generally estimated at about 2% of the budget you are shopping within.

Is now the time?

Assuming you have all your finances in order, you may be wondering if now is the right time to buy – or if there is ever a right time…

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When Looking for Condos for Sale

Are you looking for a condo? Condos can be a great stepping stone for first-time buyers or the only choice for business professionals looking for a low-maintenance home. Finding condos for sale can be as easy as searching for any home and should begin with you deciding on what you need first.

Before you hit the listing sites
Before you hop online and become overwhelmed by what is available in your town or city for purchase, make a list. List what is important to you in a home. Consider the number of bedrooms, special features you may want (fireplace, balcony, in-suit laundry), and what amenities are nearby. By doing this you can set search parameters for the listing site of your choice, and for your realtor. This means you will only see properties that…

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Marketing Your Home

Start by cleaning up and simplifying the home as much as possible. Your goal when marketing your home is to showcase the home, the part buyers are looking to purchase – if your things in the home don’t compliment it, remove them! It’s easy to get sentimental but you have to think like a buyer when prepping your home for showings or marketing photos. Keep things minimalized.
Now what?
Find a real estate agent with a great sales record. With their assistance marketing your home across a variety of mediums will be easy, from newsprint to popular websites. You want your home to be highly visible to the widest possible audience and in order for this to be effective you want to take flattering photos and be descriptive. Highlight your home’s best features,…

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Some of the Reasons to Say YES to a Real Estate Agent

Why should you get a real estate agent?

For one it’s less of a headache when you can work with someone who knows all the answers. As a buyer you will have a ton of questions, from what conditions are important include, to what you can use as leverage in a negotiation. Real estate agents will also have access to listings (their current client’s) before they hit the general market. This means you could have the upper hand on a new property which can make the difference between swooping in or getting caught in a bidding war. Depending on what you are buying (house, apartment, condo) there may be more to it then you foresaw. An agent will help you navigate dealing with a condo board, by-laws and can direct you toward an excellent lawyer if you don’t have…

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Shopping in the Foreclosure Market

Essentially a foreclosure is a home that is bank owned. This typically happens as a result of previous owners defaulting on their mortgage payments. Because they could not afford to make the payments on the house, the bank reclaimed the home. Generally speaking this situation has pros and cons for a potential buyer.
Pros of shopping for a foreclosure
Typically (although not always) the bank is looking to recuperate the money it was owed by the previous owners. This means that a home may be listed well-below its value, or at a price that will cover the banks losses, rather than garner a large profit. This is not always true, however, so it is important for you to discuss the asking price with your realtor to decide if both the price and the property are…

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Using Home Staging to Sell Quickly

In a buyer’s market, or a saturated market, selling your home can be tough – there is a lot of competition out there. Staging your home is one way that you can set your property a part from others, but home staging isn’t only beneficial in a buyer’s market. In a seller’s market, homes may be selling quickly but oftentimes that will depend on the price range your home fits into. Even in a seller’s market there may be niches where a seller finds quite a bit of competition and this is where they can utilize home staging too.
Home staging is the practice of completely setting your home up as if it were a show room. You choose stylish furniture and accent pieces, it doesn’t have to be a lot either, just the basics to give potential buyer’s an idea of how the…

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