Scoping Out a Neighbourhood

 

Home buyers enter the buying process with one of two mindsets.

There are those who know what kind of house they want – the number of bedrooms and bathrooms, the type of kitchen and maybe whether or not they want a yard. Then there are those who know where they want to live, such as a specific school district or neighborhood, but haven't completed a wish list of home features.

Seldom does a home buyer tell her real estate agent that she wants a "three-bedroom, two-bathroom home with a gourmet kitchen, a fireplace and a pool in the backyard, located on "J" Street in  "X" neighbourhood."

While it's important for your real estate agent to know what features you want in a home, "location, location, location" is just as important, important, important.

Even if you know exactly what you want in a house and perhaps have one picked out, it's important to scope out the neighborhood before committing fully to buying.

Don't Believe What You Hear

Especially when you are new to an area, it's easy to believe what residents tell you about the various neighbourhoods.  Some areas might suit some people or families just fine while another person would not find the area quite as attractive for different reasons.

There is nothing quite like first-hand information. If good schools are important to you, do the research yourself instead of relying on what others consider "good."

Crime statistics can be found online.  Neighbourhood Watch  and London City Police web sites are a good place to start. 

Google maps will allow you to map a route from the new house to your job, to a particular school, or to the nearest shopping center and kick back the mileage and a rough estimate of the time it will take to get there.

A lot of your preliminary neighbourhood research can be done online, but it's not a substitute for actually checking out the neighbourhood in person.

Drive It

Drive through the neighbourhood at different times during the day and evening, on both weekdays and weekends, looking for anything that may be considered an annoyance. Music blasting from a teenager's open bedroom window when you're trying to unwind after work may make you wonder why you bought a house in that neighborhood in the first place. Is the house under the airport's flight path?  Kids – and all that they imply – may be a blessing or a curse.
If you don't drive, walk the neighborhood. Locate the nearest public transportation stop and see for yourself what the walk is like to the store and other local conveniences.

Check Municipal Records

Finally, check the neighbourhood and surrounding area for anything that may impact the home's value.
Look for:
Developments in the works.
Upcoming zoning changes.

Sure, it's important to fulfill those dreams of the perfect house for you. But the bigger picture - a suitable neighbourhood in an area that fits your lifestyle – is just as important to your quality of life.

We have a lot of information on different neighbourhoods that may be helpful to you in your search.

Call us anytime!

Richard Thyssen, Broker of Record
Colleen Thyssen, Sales Representative
Direct 519-495-1541
Office 519-438-8000
Email: richardthyssen@kw.com
www.thyssengroup.com

Budgeting to Buy a House

Saving money for a down payment for a new home and closing costs that will be incurred takes time and careful planning. The best way to start is by coming up with a budget that is realistic enough for you to stick with and by using other tips to help you get ahead financially.

The Budget

The only thing more challenging than setting up the budget is sticking with it over the long run. Using personal finance software will help you set it up, but only self-discipline and the desire for a new house will motivate you to stick with it.
First, you need to determine your total income from all sources. The second step is to list all the money that goes out every month, beginning with your fixed expenses. These include anything that has a fixed payment due every month, including:

Rent or mortgage
Car payment
Insurance
Child support and alimony
Installment loan payments

Next, list your variable expenses. These may be a little more difficult to track, so you may want to document them over the course of a week or two on a chart such as the spreadsheet offered for free by a Canadian credit counseling service. Common variable expenses include:

Groceries
Utilities
Telephone & cell phone
Cable or satellite TV
Internet
Anything you purchase on a daily basis (morning coffee, etc.)

Track and update your budget daily so that nothing falls through the cracks.

Make Changes

Once you've used the budget for a month or two you'll be able to see where your money goes every week. This snapshot shows you where it's being wasted and, thus, where to make cuts. Any items cut from the budget mean more money to set aside for your house.
Some of these cutbacks might include bringing a lunch from home rather than hitting the café every day, riding your bike to work or taking the bus instead of driving, and using coupons to save money.

Make More Money

Cutting your budget expenditures and paying down debt aren't the only ways to move more quickly down the road toward home ownership. Finding ways to bring in more money gives your plan a turbo boost.
If you can take on overtime hours at work, do it. Consider holding a garage sale or selling unused items online. Sock away that extra cash for your down payment.

Savings

As you build your savings, avoid the urge to add to your debt. There will be plenty of time after you buy the house to buy furniture, a car or whatever else you might be thinking of purchasing. Keep that house you want top-of-mind to motivate yourself to stay out of debt and continue saving.

When the time comes to look for homes, give us a call.  We are here to help!

In gratitude,
Richard Thyssen, Broker of Record
Colleen Thyssen, Sales Representative
Direct: 519-495-1541
Email: richardthyssen@kw.com
www.thyssengroup.com

The Informed Buyer/Seller September 2015

Richard Thyssen, Broker of Record
Colleen Thyssen, Sales Representative
Direct 519-495-1541
Email: richardthyssen@kw.com
www.thyssengroup.com

Is it Time to Replace Your Roof?

Many homeowners don’t think about their roofs until leaky ceilings form inside their home.  

Roofers are most in demand following severe weather such as heavy rain or high winds.  If you put off doing repairs or replacing your roof until you have a problem such as a leak, you may find yourself in a panic to find a competent contractor to do the job.  Your problem will get worse before it can be addressed.

Look for some of the common signs below that your roof may need attention and avoid costly delays and repairs.

When it’s time to replace your roof...

1. Your roof has missing shingles.

High winds can remove shingles from your roof. You can use binoculars to inspect your roof without a ladder.

2. Shingles are cracked or peeling.

Even if the shingles aren’t missing, there can be damage. Curling or torn shingles are an indicator that the life of your roof is coming to an end.

3. Stains or water marks on your ceiling.

Your roof may be leaking. Find the source of the leak and make repairs before the problem grows.

4. Shingles are discolored.

This can be a sign of mold or algae growth on your roof, particularly in warm, wet climates. These elements can cause it to deteriorate and fail.

5. Your roof is older.

If you have a typical asphalt shingle roof, and it’s more than 10-15 years-old, chances are, you’re going to need to replace it in the near future.

We have names of competent contractors for all trades.  Give us a call and we can help find you the right person for the job.

Richard Thyssen, Broker of Record
Colleen Thyssen, Sales Representative
Direct: 519-495-1541
Office: 519-438-8000
Email: richardthyssen@kw.com
www.thyssengroup.com

Discovering that a home you like has issues

The "3 Up" Strategy for Selling Your Home Quickly

There are many reasons why you may need to sell your home quickly: a
sudden job relocation; a change in family situation; or perhaps an
opportunity to purchase a new home that you just can’t pass up.
Whatever the reason, this strategy will help when you need to sell fast. It’s
called the “3 Up” strategy.

• Fix it up.
• Clean it up.
• Spruce it up.

First, you need to fix it up. That simply means getting things repaired around
your property, such as a broken floor tile in the kitchen or a sticking patio
door that’s difficult to open and close. Maintenance issues like these distract
buyers from the appealing qualities of your home. Fortunately, repairs can
usually be done quickly.

Second, clean it up. Obviously, when your home is clean and tidy it’s going
to look its best. You also want to eliminate as much clutter as possible. You
don’t need to make every room look like a magazine cover — but that’s a
good attitude to have when prepping your home for a quick sale!

Finally, spruce it up. That means making any quick improvements that are
going to make your home even more appealing. It might mean replacing the
kitchen counters or giving the main rooms a fresh coat of paint.

Of course, the number one strategy for getting that SOLD sign on your front
yard is to select an experienced real estate team to assist you.

Call us today!

Richard Thyssen, Broker of Record
Colleen Thyssen, Sales Representative
Direct 519-495-1541
Email richardthyssen@kw.com
www.thyssengroup.com

"Closing Day" Terminology

Closing day is an exciting time.  You are moving into your new home!  However, it can be stressful as well. The last thing you need is to be confronted with something you don’t understand. So here is a quick list of common “closing day” terms.

Disbursements - This is the allocation of funds to the appropriate parties, such as the seller. Your lawyer will take care of this for you. Your lawyer will also charge disbursements along with their fee for service. This will cover out-of-pocket expenses they have had to pay ahead of time. Disbursements may include faxing, photocopying, carrier fees, and any searches you have asked your lawyer to complete.

Possession - This is the moment on closing day when you are legally able to take possession of your new home. It’s usually when your lawyer hands you the keys.

Title -This is a legal document that identifies the property and its owner.

Title insurance - may be purchased to protect your ownership in the event that an undetected title defect is found. Possible defects may include; violations of municipal zoning by-laws, existing work orders, encroachments on adjoining property or realty tax arrears. Title insurance protects you from having any liability should something come up. 

Land transfer tax - varies by province and even municipality and needs to be given to your lawyer before closing day. You can calculate how much land transfer tax you’ll need to pay and arrange to bring that to your lawyer. On closing day, your lawyer will submit your land transfer tax to the appropriate government office on your behalf.

Closing costs - These are expenses, excluding the selling cost of the property, that are due on closing day, such as legal fees, utility deposits, land transfer tax, insurance, and taxes.

Closing adjustments - These are expenses pre-paid by the seller that need to be reimbursed on closing. These adjustments could include property taxes, utilities and condo fees.

A real estate lawyer will ensure all of your paperwork and transactions are filed accordingly. This includes reviewing your offer to purchase, conducting a title search, registering the home name and making sure all payments are made in full and on time. 

Along with finding you a great home or seamlessly selling your current home, we will make the closing day go smoothly for you and your family.

Call us!

Richard Thyssen, Broker of Record

Colleen Thyssen, Sales Representative

Direct: 519-495-1541

Office: 519-438-8000

Email: richardthyssen@kw.com

www.thyssengroup.com