How do you avoid overpaying for a home?

Before signing on the dotted line:

1. Take the emotion out of your home search. List what you want in a house and stick to your priorities.
2. Get pre qualified for a mortgage, but plan to spend less. Lenders don’t look at all your expenses and may qualify you for more than you should spend.
3. Select a real estate agent you trust. Someone who sells in your selected neighbourhood will know if the asking price is right.
4. Pick an agent who is a good negotiator.
5. If you’re looking for a fixer-upper, get some idea of the cost of renovations before you sign on the dotted line.

What tips do you have for hiring a moving company?

You don’t want just any moving company, so ask friends who have moved recently for recommendations. Following are some other tips:

· Let your fingers do the walking. Interview two or three moving companies over the phone to get a feel for the company.

· Arrange for each firm to do a walk-through of your home and provide an estimate of the required cost, time, manpower and size of truck.

· Ask about additional costs. Some companies may charge extra for moving large objects or carrying items down several flights of stairs.

· Ask about insurance and how they’ll protect special pieces.

· Finally, go with your gut instinct, not the lowest quote.

I’m having my first open house. What can I do to make it successful?

Your real estate agent likely has explained about de-cluttering and completing unfinished projects, but there are still some things you can do to prepare. For example:

Make the beds, do the dishes and tuck away the kid’s toys. Put clean towels in the bathrooms and shine the fixtures.

Don’t fire up the fireplace. Many people have wood-smoke allergies. Instead, light an arrangement of different-sized candles in the firebox.

Hide pet paraphernalia and pick up any evidence of Fido from the backyard.

Put flower arrangements everywhere.

Try cinnamon sticks simmering in a pot of water on the stove.

Tuck away family photos and valuables. You don’t want your kids or your house to become targets of unscrupulous visitors.may

I want to improve the look of my kitchen to make it more appealing to buyers. How can I do that without spending lots of money?

If your kitchen cabinets are looking a little tired and outdated, consider cabinet re-facing as a way to upgrade the style and colour without the costs of a full-scale renovation.

Re-facing is changing the doors and drawer fronts, while laminating the cabinet boxes and adding new hardware for an updated, modern look. It also shortens the down time for your kitchen and it’s eco-friendly.

A kitchen renovation normally takes three to four weeks to complete. The process for re-facing is simple and less stressful than a renovation and takes only three to four days to complete. And it costs 50% less than a full reno. Although it might be attractive to do it yourself, cabinet re-facing is tough. You may be able to change the doors and fronts but laminating is quite a skill. So it would be best to work with a professional company.

Why do you need a real estate agent when you purchase a home?

If you are thinking about purchasing a home, it is wise to hire a real estate agent to help you. It is the seller in a real estate transaction who pays the commission to agents in the property deal, so there is no cost to the buyer.

By hiring an agent, you will also benefit from his or her expertise. The agent will be able to tell you if the property is reasonably priced. After all, unless you have insight into the market, you are taking the word of the listing agent.

A good buyer’s agent will be able to tell you both what comparables have sold for recently, and what they expect the property to appraise for. If you are planning on financing the property, the lender will want an appraisal. If the appraisal, which you pay for, comes in significantly lower than the purchase price, and the listing agent is unwilling to move on the price, you get to start the process over on a different property.

I understand that having a focal point in a room helps buyers feel at home. How can I best create one?

Some rooms have natural focal points, such as a fireplace, architectural details or a picture window with a view.

But if your room has none of these, you could try placing a large piece of furniture such as an armoire or a tall bookcase along one wall, using an ornate mirror or large painting, or adding a table with your favourite collectibles arranged on it.

If you have a large, flat-screen television, this might make a suitable focal point, but many people prefer not to make a TV the centre of attention, as it can look unattractive when switched off.

The focal point doesn’t have to be on the wall – an area rug placed under a coffee table can also work well. A fireplace is perhaps the best focal point in a living room. To accent it further, place a painting or mirror above the hearth.

I’m interested in purchasing an environmentally friendly home so that I can be good to the planet and save money on energy. What are the key things to look for when viewing houses?

An environmentally friendly home will probably have:

1. Effective insulation – to ensure even temperatures throughout the home

2. Energy efficient windows – to help keep heat in during winter and out during summer and to protect furniture and flooring from the discoloring effects of the sun

3. Tight construction and ducts – to reduce drafts, moisture, dust, pollen, and noise and to improve indoor comfort and air quality

4. Efficient heating and cooling systems – to improve home comfort and use less energy

5. Efficient products – such as light fixtures and appliances with an energy-efficiency designation.

I’m considering buying a condo or townhouse. What are the things I could think about?

Here are the pros and cons of living in a condo or townhouse.

Pros

· A condo or townhouse is low maintenance; landscaping and maintenance of the exterior structure are typically handled by the homeowners’ association (HOA).

· Many communities offer amenities such as pools, tennis courts and clubhouses.

· The proximity of neighbours may give you a greater sense of security.

Cons

· HOA dues increase your monthly outgoings and can rise in the future as maintenance and repair costs go up.

· Available parking for guests may be limited.

· Typically, there is less storage space than in a detached home.

I’ve found a home I like, but how do I know it’s priced fairly? I don’t want to pay too much!

Comps: Comparing a property to others is the most commonly method of establishing price and value. Age, size, location and amenities are compared to other properties in the area. Unfortunately, this method doesn’t work well for unique homes or those lacking nearby comparisons.

Income Potential: Another popular method is to determine the amount of income the property would generate if rented or used in another endeavour like a small business or hobby.

Return on Investment: Calculating the ROI is a good measure especially for those buying income producing property or “fixers” in need of extensive renovation or repair. The ratio between money invested into the property versus the anticipated return (often using leveraged funds) is particularly useful for those who purchase real estate as an investment.

My home is cluttered. That’s why I’m moving! How can I clear the clutter quickly?

Potential buyers are likely to search every inch of your home, including closet space, cabinet and storage sheds to determine if their own belongings will fit. Here are some ideas to minimize the clutter.

Storage Bench: Buy a storage bench or seat to store toys, pet items and garden tools in a great-looking container that adds a decorative element to the space. A toy box in kids’ bedrooms makes quick work of preparing rooms to be shown.

Overhead Storage Systems: Add inexpensive overhead storage systems to the garage or shed. Sturdy and easy-to- install ceiling mounted storage systems keep walkways free of debris.

Racks: Chances are your home could benefit from a few well-positioned racks. Consider bike racks, multimedia racks, coat and hat racks, laundry racks and, of course, spice racks.