Tips for Buyers and Sellers

Which Down Payment Strategy Is Right For You?

Sun, 12 Jan 2025 15:38:00 GMT

You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.

But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.

The Downside

The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance for years, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20-percent down payment, which will eliminate some homes from your search.

The Upside

The national average for home appreciation is about five percent. The appreciation is independent from your home payment, so whether you put down 20 percent or three percent, the increase in equity is the same. If you’re looking at your home as an investment, putting down a smaller amount can lead to a higher return on investment, while also leaving more of your savings free for home repairs, upgrades, or other investment opportunities.

The Happy Medium

Of course, your home payment options aren’t binary. Most borrowers can find some common ground between the security of a traditional 20 percent and an investment-focused, small down payment. Your trusted real estate professional can provide some answers as you explore your financing options.

TAKE 5: What To Negotiate When Buying a House

Fri, 03 Jan 2025 15:39:00 GMT

Whether you are a first-time homebuyer or a seasoned veteran, the negotiation part of the transaction can be a little daunting and stressful. However, it is necessary to ensure you are getting the best possible deal for your money. So, what should you negotiate when buying a home?

Closing Costs

Your closing costs are determined by a variety of factors, but you can expect it to be between 2% to 5% of the purchase price. Ask the seller to cover some or all of the closing costs upfront or request a closing credit that can be used to make specific updates and fixes to the home.

Furnishings

Love how the seller has furnished and decorated the home? Buyers often negotiate keeping couches, fixtures, landscaping items, patio furniture, appliances, and more. And many sellers agree, wanting to make the home more appealing.

Inspection & Closing Timing

Buyer offers that include a quick inspection and close timeline are often more attractive to sellers who have been going through the process for far too long. Just ensure you allow yourself ample time to get your financing in place and complete proper, thorough inspections.

Home Warranty

Sellers will often agree to pay the premium on the home warranty at closing and then hand it off to the new homeowner, who is responsible for the deductible on any future claims.

Repairs

Your inspection may uncover small or large repairs needed to bring the home up to standard. You can negotiate to have these items fixed before closing or ask for a price reduction to cover the costs.

Top Tips For House Hunting Online

Mon, 02 Dec 2024 15:39:00 GMT

Hunting for a new home online is a great place to start your search, but it should not be your end all be all. Good listing agents are excellent at highlighting the best features of the home, but keep in mind there may be more than meets the eye. To make the most of your time and efforts and gather a well-rounded picture of home listings online, keep the following three things in mind.

Stay Up To Date

When you start your search, make sure you find a site that pulls up-to-date listings directly from the multiple listing service (MLS) where real estate agents actively post their most current homes for sale. Many online resources update less often or fail to remove listings that are off the market, making it more difficult to sort through the clutter.

Pictures Can Be Deceiving

Real estate photographers are experts at showing a home in the best possible light. Many use tools and strategies to boost appeal, such as a fisheye lens to make areas look larger and creative editing to make colors and textures really pop. But, often listings will not contain photos of unappealing parts of the home, like small closets or outdated bathrooms.

See It To Believe It

Once you find what appears to be your dream home online, call up your real estate agent and schedule a showing. You want to take the opportunity to vet the home in person and explore every part of it before beginning the offer process. Your real estate agent will help you cover all your bases and will ask questions you may not have thought of.

Prep Your Pets For The Big Move

Wed, 02 Oct 2024 15:40:00 GMT

Your moving day is set and it’s time to start preparing. As you’re making your lists and checking them twice, don’t forget to factor in your furry friends. Here are some tips for making sure the process goes smoothly.

Medical Records

When moving to a different city or state, one of the main things you need to take into consideration is finding a new veterinarian that is the right fit for you and your pet. If you have family or friends in the area ask for recommendations or do your own research by reading reviews and news articles. Once you find one, contact your current vet to initiate a transfer of medical records. Then schedule a “get to know you” appointment shortly after your move.

Transportation

Whether it’s a short drive or a long plane ride, you pet will likely need to be put into a carrier. For most pets, this is a foreign concept and they require time to get comfortable with it. Start acclimating your pet as early as possible and use comfort items like treats and favorite toys and blankets to make the experience a positive one for your pet.

Acclimation

Pad your moving schedule with ample time to get your dog or cat acclimated to their new home. While the movers are still hard at work, keep them safely away from foot traffic to reduce stress. Once they’ve left, make sure to clear anything that could be dangerous and block off areas as necessary then let them free to get a lay of the land on their own.

What To Repair Before You List

Tue, 01 Oct 2024 15:45:00 GMT

When you’re getting ready to list your home, it’s of the upmost importance to ensure you are showing it in the best light. Taking time to highlight its strengths and fix up some of its possible weaknesses can make a big difference in how fast it sells.

Here are our top four recommended repairs to make before selling your home.

Repaint Walls

Giving your home a fresh coat of paint is one of the most cost-effective ways to spruce it up, and generally, it can be a do-it-yourself project. Make sure cover any walls with scratches and chips and consider updating any accent walls with a more neutral coat.

Repair Floors

Hardwood floors are a very desirable feature in a home, so you want to ensure they look their best by fixing scratches or dull areas. If your carpet is worn or stained, consider replacing them. And don’t forget the tile in your kitchen or bathrooms. Re-grouting can go a long way in making dingy tile work look brand new!

Refresh The Landscaping

Show buyers your home is the full package by dressing up the outside as well as the in. Clean walkways and driveways, plant seasonal flowers and plants, trim hedges and trees, install outdoor décor pieces and fill in mulch and gravel.

Fix Your Fixtures

Leaky faucet? Rusted drains? Loose drawer handle? Making these small fixes can make a big difference to potential buyers with detailed-orientated minds. Improve your kitchen. An outdated kitchen can be a real eyesore in a home. Updating cabinetry, repairing or replacing countertops, and installing new faucets and sinks may be worth the investment.

The Difference Between Home Warranty & Home Insurance

Tue, 01 Oct 2024 15:43:00 GMT

When purchasing a new home, it’s important to do in-depth research on all facets of the homebuying process. One thing you’ll need to understand is how to best protect yourself and your investment if anything were to go wrong. Check out the information on home insurance versus home warranty below to educate yourself on your options.

Home Insurance

Homeowners insurance pays for any accidental damages and loss that are caused by fire, lightning strikes, windstorms, and hail, however, damage from earthquakes and floods is typically not covered. It also covers the replacement of personal property in case of theft or damage and liability if a person were to get injured in your home or on your property.

According to American Home Shield, the average annual cost of a homeowner’s insurance policy ranges between $300 and $1,000, and the bank usually asks you to obtain a policy before the mortgage is issued. Make sure to keep in mind that each type of coverage in the policy is subject to a limit and, in most cases, you will have to pay a deductible.

Home Warranty

A home warranty is designed to cover the cost of repairs and replacements of larger appliances and crucial systems in your home that may fail or break due to age and wear and tear. This includes but isn’t limited to HVAC, electrical, or plumbing components, kitchen appliances, and your washer and dryer.

With a home warranty, you are required to pay premiums year-round, even if you do not use it, and it won’t cover damages if appliances were not maintained properly or if the damage is from a fire or other disaster.

For more great articles and tips to help you with your buying and selling, check out Candace’s other amazing articles in the Tips For Buyers & Sellers page!

Staging Strategies For Your Home

Tue, 01 Oct 2024 15:42:00 GMT

Staging your home is all about putting the best foot forward for potential buyers. By highlighting its most desirable features, you can draw more interest for your home and leave a lasting impression that is sure to help you sell it more quickly. Here’s what you should keep in mind as you prepare for your next open house or viewing!

Help Them Visualise It As Their Own

Make it easier for buyers to imagine themselves making your house their home by removing personal memorabilia, knick-knacks, and photos. Instead replace them with simple décors, such as paintings, nature images, and plants.

Think Sleek Instead Of Comfy

Modern-day buyers are leaning toward modern, crisp, clean interiors over comfy, homey looks. When staging your home, keep a minimalist mindset, and incorporate bright colors and metal accents.

Deep Clean The Small Spaces

It’s obvious to say you should clean your home before viewing, but don’t forget to cover your bases by deep cleaning the small spots. Take time to scrub porous areas like grout that may hold on to stains and baseboards where small pet hairs and dust love to cling.

Spruce Up Your Landscaping

The first impression your home gives to potential buyers is its exterior. Ensure you have a freshly mowed lawn, neat hedges and shrubbery, bright flowers, and a clean driveway.

Set The Mood

A home is so much more than just the way it looks, so you need to appeal to the other senses. Prior to having potential buyers over, set the mood by burning delicious smelling candles and selecting an upbeat, happy soundtrack to play in the background.

6 Mistakes Home Buyers Make

Fri, 24 Nov 2023 15:46:00 GMT

It’s not hard to get caught in the pitfalls of buying a house. The best way you can make sure you’re making the right decisions is by coming in armed with the right answers to the process of buying a house.

The following six tips will help you get on the right track!

Mistake #1 – Not Getting Pre-Qualified for a Mortgage

Before looking for your next home take the time to get pre-qualified by the bank or mortgage broker you choose. This can save you hours of searching for homes in the wrong price range or worse, purchasing a home and then finding out you don’t qualify for financing. Pre-qualifying gives you peace of mind, helps narrow your search criteria and most importantly, gives Candace a negotiating edge by being able to alleviate the sellers concern over financing. The latter is especially important should a competing offer surface.

Mistake #2. Not Shopping For Mortgage Terms

Rates are negotiable! Banks will sharpen their pencils to get your business, especially if you have a good credit rating and bring other business to them e.g. RRSP’s, general account, savings, etc. Posted rates should viewed as a starting point. You need to know what the best rate is and this is usually done by get competitive quotes. Also, ask whether the bank will cover appraisal fees, and about buy-out fees, penalties, payment options, portability etc. The time spent can save you thousands of dollars over the life of the mortgage

Mistake #3. Not Getting Professional Inspections

Nobody wants to purchase a home only to find out later there are defects, latent or otherwise. Ensure you obtain inspections where needed e.g. home inspection, structural engineer, insect, radon etc. If the inspection identifies deficiencies you may be able to negotiate the purchase price to cover required repairs or make your satisfaction of the inspection subject to the homeowner remedying the problem. Candace can advise you on inspections you should consider.

Mistake #4. Not Using A Professional Real Estate Agent.

Candace can help you make a purchase with the least amount of problems. She can ensure the price you pay is market value. Candace can offer expert advice on what to look for, conditions to include, negotiation strategy etc. After all, she works for you.

Mistake #5. Buying First Before Selling

If price is important you should always sell your present home before buying another. It has the advantage in letting you know exactly how much money you will have available for your next purchase. Selling your home first allows you to place fewer conditions on your purchase which makes your offer more attractive to a seller. They often will demand more money to take a “subject to” offer which takes their home off the market. The other advantage is if you find a terrific house, chances are others will also find it attractive and you stand to lose it if you can’t make an unconditional offer.

Mistake #6. Not Knowing The Full Cost Of Home Buying

Know all the costs associated with your purchase. Consider the following costs: legal fees, transfer tax, property taxes, new home landscaping, fencing, appliances, window coverings.

Tips for selling your home

Wed, 25 Oct 2023 15:47:00 GMT

Ready To Sell Your Home And Move On?

Candace has the expertise and resources you need to help you sell your home quickly and successfully. It all begins long before you open your home to showings. You need to see your home like a prospective buyer. To do that, you need to look at both the inside and outside with a fresh perspective. If you follow these simple steps, you will be helping to set the stage for a property that shows great to potential buyers.

Letting Go Of Clutter

When prospective buyers walk through your home, they tend to imagine it as if it were their own. You can help them envision their dream space by presenting a clean, clutter-free environment.
Here’s How…

New Perspective

Bring a friend, Candace or a home stager to help point out overlooked problem areas of clutter. When you live in a space, you get used to a space. You don’t see what others see. Trust their advice.

Remove Personal Items

Put away family photos, souvenirs, knick-knacks and personal items. These items are special to you, but the prospective buyer wants to envision their own personal items in your space. So, help them out.

Clean, Clear Surfaces

Clear off counters, especially in kitchens and bathrooms, storing away small appliances and miscellaneous personal items. Scrub down the surfaces and perhaps even put out a bouquet of flowers.

Create Ease of Movement

Remove and store extra furniture to create open areas that promote easy foot traffic through your home.

Show Off Storage Space

Clear out closets, basements and garages as prospective buyers are always on the lookout for ample storage space. Now is a good time to box up unworn clothes, toys and personal items for storage or charity.

Quick Fixes And TLC

Potential buyers will be looking for visual clues that your home is well cared for. How much work a house seems to require will impact the offering prices you receive, so it’s worthwhile to ensure that everything is in good working order.

Here’s A Quick Checklist…

Bathrooms

Ensure all plumbing fixtures are clean and in good working order. Outfit leaky faucets with new washers and clean any visible stains on porcelain fixtures. Replace old, worn shower curtains and bath mats.

Doors and Windows

Spray WD40 on all hinges so everything operates smoothly. Have windows cleaned inside and out. Potential buyers will be estimating their energy costs, so fix drafts by re-caulking windows and replace exterior doors if necessary.

Walls and Floors

A fresh coat of paint instantly transforms a space, helping it to look neat, clean, and up-to-date. Always fix obvious wall imperfections like cracks and nail holes, before painting. Steam clean carpets and runners, and repair any chipped or loose floor tiles.

Atmosphere

Be mindful of the odors left behind by pets and smokers and consider using an environmentally friendly room fragrance to neutralize unpleasant scents. Replace light bulbs and add light fixtures in dark hallways, including basements, garages and closets.

Curb Appeal – Drive By Success!

First impressions can be everything. Many people simply drive by a listing and make a decision based on your home’s curb appeal. So, don’t forget the importance of creating a well-manicured entryway – to entice potential buyers.

Maintaining a neat and attractive exterior to your home will show buyers that you take pride on your property.

Here Are A Few Tips…

Landscaping

Consider planting a few bushes and colourful mature flowers to create an eye catching display. Ensure that your lawn is well manicured: mowed, watered and void of brown spots.

Front Door

Look critically at your front entrance: does the door or the porch railing cry out for a fresh coat of paint? Polish the door handle and invest in a new welcome mat.

Front Porch

If it’s spring or summer, plant colorful containers to flank your entrance. If it’s autumn, rake leaves. During winter, clear the snow and ice from your walkway. Whatever the season, look closely to determine if any repairs are needed. All loose cement or rotting wood should be replaced.

Shine On

Many serious buyers will want to drive by your home after the sun goes down. Remember to ensure that all outdoor light bulbs are turned on in order to show your home in its best light.

Of course, if you want to have an experience professional look over your home to ensure it sells, contact Candace today!

Top 10 Tips to Successful Home Staging

Sun, 08 Oct 2023 15:48:00 GMT

Preparing your house for selling can be a daunting and overwhelming task whether you have lived in your home a few years or many. The longer you have lived in your home the more things you will have acquired.

The intent of this “Top 10 Tips to Successful Home Staging” is to help you save TIME, MONEY and ENERGY.

In preparing your house for selling you need to take a step back and have the mind set that this is no longer your home but your investment for your future. You want your home to have broad buyer appeal to your target market.

Following these 10 Tips for Successful Home Staging will help you sell your house sooner and possibly for more money than if you did not prepare it for selling! Remember most people want to move into their new home without having to make updates to it.

Tip 1 – Curb Appeal

Stand back and view your home as if you were seeing it for the first time. This is the ‘first impression’ stage.

Depending on the season you may want to have pots of colourful and attractive flowers to greet buyers; a clean and inviting door mat; new and shiny door handles and/or knockers; a freshly painted door.

Tip 2 – Declutter

Start your pre-pack as soon as possible. You need to decide what you are going to keep, give away, sell or throw away/recycle. Many clients will rent storage lockers or have pods delivered so they can start to clear out what is not going to make the house look good.

Tip 3 – Clean

You would think this one is common sense but let me assure you, I wish it was so!

A clean home translates into ‘They must have really cared for their home.” Use environmentally friendly cleaners where you can, for hard cleaning areas tsp is a good product. Bathrooms and kitchens must be sparkling clean at the very least.

Tip 4 – Depersonalize

We know you love your family photos and your personal treasures and for living they are perfect. For selling pack them up carefully so you can showcase them in your new home. For selling you want buyers to focus on the best features of your home and not your personal things or collections.

Tip 5 – A neutral colour scheme is the way to go for selling.

Choose only 3 colours or less to paint your house for selling. If you have an open floor plan then paint the main floor all the same colour.

Bedrooms look good in light sage greens or warm blues like the new aqua.

Tip 6 – Highlight your home’s best architectural features.

Place your furniture in each room so that you have very obvious focal points that show off the home’s best selling features. For example, if you have a beautiful fireplace then place the furniture in a parallel grouping so that the eye is drawn to the fireplace.

Tip 7 – Decide on the function in each room

If you were using your guest bedroom as your den for living, for selling turn it back into a bedroom with bedroom furniture in it. If you do not have the right furniture for each room consider renting it.

There are more and more rental furnishing companies opening up every day. If you don’t want to rent then borrow.

Tip 8 – Lighting your home to its best advantage

Spend money on new light fixtures in brushed nickel or stainless steel. Brass is out so don’t fight it. There are many low-cost lighting stores to select from so no excuses for having dated light fixtures.

Tip 9 – Window treatments that sell your home

The most popular on the market are the 2” faux woods in a white tone to go with your trim. Decorative side panels will do the trick if you need to add warmth and colour.

Tip 10 – Invest in good flooring

Flooring needs special attention and is a good investment for updating the look of your home.

Tile or linoleum is great for entranceways, bathrooms, kitchens, laundry rooms; a good quality laminate or hardwood is perfect for living rooms and family rooms; bedrooms are attractive in a neutral carpet.
By planning and budgeting you can get yourself to the “OPEN HOUSE READY” stage.

Remember that the vast majority of prospective buyers have already looked at your listing on the internet. Will they like what they see?

Happy Selling!

Candace Bosch