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 As an investment, Real Estate has earned a good reputation.
Of course, your home should be more than an investment. It should meet your
family’s needs and desires while also providing the potential for stability
and long-term growth. It takes knowledge, skill, and research to get this
combination right.
Simply put, it’s all about watching, waiting, and then
acting to your best advantage. By working together, we can identify your
needs, follow trends and anticipate changes in the marketplace that will
benefit you. So give me a call soon, and let’s get together. I look forward
to finding genuine real estate opportunities... and the best ways for you
to capitalize on them.
Richard Thyssen, Broker of Record
Colleen Thyssen, Sales Representative
Keller Williams Lifestyles Realty
Direct: 519-495-1541
Office: 519-438-8000
www.thyssengroup.com
richardthyssen@kw.com
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How Much Can You Afford?
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Why is it so
important to know how much you can afford to spend on a home?
Two reasons.
First, you don’t want to buy a property and then find out, after you’ve
moved in, that you can’t financially maintain it. That would mean having to
resell it under stressful conditions.
Second, you don’t want to settle for a property that’s less than ideal,
when you really could have afforded the "dream home" you’ve
always wanted.
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So how do you
figure out how much you can afford to pay for your next home?
The first step is to gain a clearer understanding of how much your current
home will likely sell for in today’s market. That amount, together with
other financial resources you might have (such as savings), will determine
your available down payment.
The next thing you’ll need to figure out is the maximum amount of mortgage
for which you qualify.
Say, through the proceeds of the sale of your home combined with your
savings, your expected down payment is $150,000. If the lender authorizes a
mortgage of $375,000, then you can afford a $525,000 home.
Typically your lender determines your maximum mortgage based on, among
other things, a percentage of your income, to ensure you can maintain the
property.
It’s worth doing your own calculations too. Calculate your anticipated
utilities, insurance, and property tax, and make sure you have some money
set aside for unanticipated expenses.
Of course, you don’t need to spend as much as you qualify for on a new
home. A home that meets your needs in terms of property type, features, and
neighbourhood, may in fact cost you less.
One thing is for sure. As your Realtor, I can work with whatever amount you
can afford and show you homes on the market that most closely meet your
needs.
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Is Your Home In “Move In” Condition?
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When buyers view
your home, they ask themselves whether they like it. Assuming that the
answer is "yes", they try to determine how much work would be
required before they could move in.
It’s not uncommon for a buyer to be interested in a property
but be turned off by the perceived amount of work required. In fact, this
can sometimes discourage a buyer from even making an offer.
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That’s why
ensuring your home is in as “move in” condition as possible is so
advantageous. It will help sell your home faster and, often, for a better
price.
So what does “move in” condition mean? It means that there are no repairs
or maintenance issues that need to be addressed immediately. Buyers can be
discouraged by seemingly minor issues, such as a loose closet shelf or a
lightly dripping shower head. So it’s important to get those little repairs
done before showing your home.
Buyers will also likely want to know the age of your furnace, water heater
and other appliances, in order to anticipate when they will need to be
repaired or replaced. If you have transferable warranties for any of these
items, be sure to let buyers know.
A fresh coat of paint is one of the best investments you can make in preparing
your home for sale. More than any other repair or renovation, a coat of
paint can make just about any room look almost new and move-in ready.
Buyers are sometimes worried about having to purchase new window coverings.
If your window coverings will stay with the home, make that clear to buyers
too.
Generally, the more you can do to make your home seem ready to move in, the
better.
Want more tips on selling your home quickly and for the best price? Call
today!
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What Happens When You Make An Offer?
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If you want to buy
a new washing machine, you simply go into a retail store and pay the listed
price. Pretty simple.
However, it doesn’t work quite that way when it comes to
real estate. Although a home will usually have a “listed price”, you must
make an “offer” for that property and then the seller must accept it. In
fact, if there are other buyers interested in the property, you may not get
the home even if you offer the listed price or over!
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That’s why it’s so
important to work with a good Realtor like me, who can provide information
and experience to help you determine the right offer to submit.
Once you make an offer, if the seller accepts it, the home is yours. If the
seller rejects your offer, it could be because they’ve accepted another
buyer’s offer, feel your offer is too low, or have rejected one of your
conditions.
Sometimes, the seller will come back with a counteroffer. If you accept it,
congratulations, you’ve bought the property. If you don’t like the
counteroffer, you can make a counter-counteroffer!
This back and forth negotiation can get a bit tricky, which is another
reason to have a good Realtor like me by your side. Call today.
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notable,
quotable... quotes!
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“Every
success is built on the ability to do better than good enough.”
Unknown
“Genius
is the ability to put into effect what is in your mind.”
F. Scott Fitzgerald
“It’s
not the mountain we conquer, but ourselves.”
Edmund Hillary
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