|
|
|
View my Google Maps!
Dianna Mandzuk ●Sales Representative ●Certified Luxury Home Marketing Specialist ●Canadian Staging Professional RE/Max Jazz Inc., Brokerage Professional Offices located at 203 Bond St. E., Oshawa, Ontario. L1G 1B4 Direct: 905-433-2579 Office: 905-728-1600
Look for me on Facebook!
|
Whether you're buying or selling a house, here are 10 insider tips to increase your real estate savvy and help you get - or get rid of! - that hot property, 'til you're firmly rooted in your dream home.
It sounds elementary, but if you want to play the real estate game, the trick is to get in on the market - somewhere, anywhere, but get in there. Figure out what you want in a home, find out what you're worth financially and, providing the debt load for purchasing a new home is manageable, investigate your house-buying options & get in touch with your Realtor.
If you are buying a home or planning to sell yours, consult a Realtor - don't just try to arrange a private sale. Although many people feel that bypassing a real estate agent can save you their commission, think twice: professionals can usually get you a better deal regardless of what side of the home-buying fence you are on. Unless you have real estate training, you can benefit wildly from the professional experience, contract and expertise of an agent currently active in your desired area. And since real estate agents only get paid upon a sale, signing a contract with a real estate pro ensures that they'll spend time working on your behalf to help you find the right fit!
As a buyer, when you're looking into financing alternatives, explore the options of a mortgage broker, rather than just blindly approaching your bank. Since mortgage brokers work as independent bodies not affiliated with or beholden to one specific bank, you're liable to get a better deal on financing from a mortgage broker than a bank. To maximize incoming funds as a Seller, know what your house is worth before buying another property - and if you're not a gambler, don't buy a new property before selling your current dwelling. Avoid getting stuck in the position of having to sell within a short period of time, or forcing yourself into a corner of having to accept a low bid just to make two mortgage payments at once.
If you're buying and can wait until the seasons between July-August or December-January, you may have more luck. Why? You won't have to contend with as many other house-hunters, since no one wants to house-hunt in the middle of the summer, the dead of winter, or the holidays, if they can avoid it. Sellers, though, still have to sell their property, so may be more willing to cut you a deal during off-peak times of the year. So, if you're selling, you may get more traffic - and higher possibilities for multiple offers and larger bids - from February to June and September to November.
As a Seller, know that a little "fluffing" (staging, redecorating or decluttering) can go a long way. Most people have an easier time visualizing their furnishings in your house against neutral colours, so if your walls wear strong colours, slap on a fresh coat of paint to cover what might be an off-putting shade to a potential Buyer. Landscaping your yard is another relatively inexpensive way to make your home that much more aesthetically pleasing without knocking down walls. As a Buyer, see past the spit and polish - are you admiring the house for what it is, or what's in it? Many Sellers spend a few hundred or thousand dollars styling their home before a sale, so don't get suckered by veneer touches and decor accents that aren't part of the home's inherent charm. Look beyond gorgeously decorated interiors to establish what it is you'd actually be getting.
Keep in mind that if the property you're considering is close to public transportation and green spaces, it can be that much more desirable to future buyers down the road. Proximity to schools, shopping districts and other hot property developments can also be a bonus.
Buy a cheap house on an expensive street, rather than the most expensive house on the block. Although the property taxes of your home will be on par with the neighbouring "castles" and "mansions", so will its real estate value, which will come in handy if and when you eventually sell it. Even if you don't have funds to execute major renovations, prospective buyers - especially those looking for a large lot with potential to either expand or tear down your home to build their dream home in a ritzy area - will see the land's value.
With houses as with anything else, price points often present a psychological stumbling block. Think about it: Isn't it strange that you won't hesitate to buyer an item priced at 99 cents, but you balk at the item that costs a dollar? As a Seller, be aware of ceilings of common resistance.
On your way to owning your dream home, you'll have to make some tough decisions along the way. At the beginning of your home-owning career, flexibility is the key. If you're in the market to resell your house, be ready to sell at a moment's notice: if you can capitalize on a sudden upswing in the market, you'll be in a position of financial advantage. As a Buyer, consider turning over the pad you own to make a profit that you can put towards your next property.
Contending in a bidding war can be tricky business. No sane Seller will accept a conditional offer when there is a stack of offers on the table with no strings attached. So if you're buying in a hot market with multiple bids on a popular property, hiring a pre-inspection of the house is a good idea, since it'll give you the confidence to make an unconditional offer - on that isn't contingent upon a post-sale inspection, and one without clauses up the wazoo. Because you'll already know what kind of faults the house has or work the house will need, you can stand to hand over a certified cheque rather than a personal one, which shows good faith on your part and may encourage the Seller to choose your bid over another. As a Seller, when potential Buyers are doing pre-inspections of the home your selling and the offers are piling up, you'll know you've arrived. Give yourself a pat on the back for making the most of your real estate savoir faire, and welcome home!
|
|
NOT INTENDED TO SOLICIT PROPERTIES ALREADY LISTED NOR BUYERS SIGNED UNDER A BUYER'S AGENCY AGREEMENT. E. & O.E. The information contained herein is believed to be accurate, but should not be relied upon without verification. Each office independently owned and operated. This site best viewed at 1024 x 768 screen resolution. COMMENTS/QUESTIONS CONTACT THE WEBMASTER content © 2009 DIANNA MANDZUK. ALL RIGHTS RESERVED.
|
