Attracting that buyer- The DONTS

Currently in this market there is a lot of inventory out there! And buyers are becoming more and more picky when it comes to choosing their dream home. When putting your home on the market you have to put your best out there, if you want to sell fast and at a reasonable price.

Here are some things to avoid if you want to prevent that buyer from walking out that front door!

1. Make sure your home is as clean as possible. Pay close attention to kitchen and bathrooms, declutter counter tops, polish the kitchen sink, polish the stainless steel appliances. Clean all the grout, and make your floors gleam! Before every showing try to do a quick clean up to keep it top notch.

2.Nothings worse then walking into the home and the first thing you smell is cigarette smoke! If  you smoke try your best to take it outside while your home is up for sale. Any type of odors like cooking smells or pets can really turn off a buyer. Try using fabric freshener and rooms scents like diffusers to freshen up the home!

3.If you like bold colours, you may want to pick up a roller and paint your home some neutral colours. Buyers sometimes get steered the wrong way when they see loud colours on the walls, it can really distort the potential they see in a home.

4.Swimming pools are fun in the summer and a great activity for the kids but believe it or not a pool can be a major turn off for buyers. The up keep and costs that come along with it can be very expensive. In some cases having a pool can lower the value to your home! if you are planning to sell it may be a wise thing to consider filling the pool and putting some nice landscaping or patio. Outdoor living spaces are becoming more and more popular these days where they even have outdoor fire places.

5. First impression always counts, make sure the exterior of your home is top notch! make sure the grass is always manicured. Plant some pretty colorful flowers or place a nice potted plant at the front door for a welcoming entrance. Rusty mail boxes wont cut it either, replace it if its starting to look on the old side. If the numbers on your house are tarnished, change them up.  When buyers walk to the front door this may determine whether they walk in or just turn away!

How to choose a Neighbourhood

Established neighbourhoods tend to have their own personalities, mature trees and larger yards. Older building styles tended to lean toward higher, plaster ceilings, hardwood floors and decorative woodwork. Depending on the age of the home, it may require a little more maintenance.Established neighbourhoods are usually closer to the city. Urban living usually puts you at the centre of the action. It offers a wide variety of amenities like shops, theatres and restaurants. It may be closer to your workplace. Of course, the drawback of an urban location could be a smaller, older or more expensive home. Look for schools, playgrounds, parks, etc.

Make sure there are no undesirable areas surrounding your neighbourhood such as a garbage dump, industrious buildings disposing bad odours, etc. The suburbs usually have the advantage of newer homes, and more square footage for the same price as an urban location, but may not have the other amenities as close as you’d like.

New neighbourhoods tend to have a noticeable lack of foliage and can look barren for years as the landscaping matures. If you purchase a home or condo before it is built, you will be able to take advantage of upgrades during construction, and when you move in you can decorate to your taste.

A new home or condo won’t have the charm of an old one, but will have warranties covering most major components. Be careful in understanding what the warranty covers. New homes have some real disadvantages that most people don’t think of until it’s too late. It is important that the neighbourhood you choose to live in is well suited to you and your family. The following is a list of considerations and possible problem areas:

Environment – The quality of air, water and soil is a top concern as a polluted neighbourhood can be detrimental to both your health and property value. Ask your real estate agent, neighbours and local media about any known environmental issues in the area.

Appearance – The home or condo you are considering may be tidy and attractive inside and out, but how does it compare to the surrounding area? Explore the neighborhood, keeping an eye open for signs of neglect (overgrown lawns, houses in need of paint, trash and junked appliances littering streetscapes). No matter how diligent you are in the upkeep of your property, a run-down neighbourhood can drive your property value down.

Crime Rate – Check with the local police department to find out if the home you are considering is in a safe neighbourhood. Police may be able to provide statistics regarding break-ins and other crimes.

Schools – If you have children, the proximity and quality of schools is an important consideration. Talking to neighbours with school age children can be helpful. In some areas schools will provide data (such as average test scores) that can aid you in determining a school’s quality.

Transportation – Convenient access to public transportation and/or major highways can mean the difference between a pleasurable and not-so-pleasurable commute to work.

Amenities – Amenities like a grocery store, parks, recreational facilities, post office, dry cleaner and a doctor’s office can make life easier if they are located nearby.

Property Values – By researching the selling prices of homes in over the past decade or so, you may be able to predict future trends. Your real estate agent may be able to provide helpful data.

Utilities – Avoid unpleasant surprises by finding out what utility costs are before you decide to purchase. Fees for water, electricity, cable TV, phone and gas vary greatly by region. Don’t forget to find out what is included in your maintenance fees and what isn’t if you are buying a condo – sometimes the maintenance fees plus the regular utility costs can be a small fortune!

Noise and Nuisances – It can be hard to get an accurate impression of a neighbourhood in just one visit. Be sure to return to the neighbourhood at different times of the day and night. Listen for traffic noise, barking dogs, low-flying airplanes and any other noises that could bother you as a resident.

Choosing a neighbourhood is an important part of choosing a new home. You want to make certain you will like your new surroundings as much as your place. Moving into a new home or condo is a wonderful experience, just make sure you are ready for the new area and change of amenities.

It takes some getting used to when you move from the city to the country and vice-versa. Your conveniences change dramatically. Be prepared to accept changes of conversely, find a place that has the conveniences you are accustomed to.

Affordable Housing

Greater Toronto REALTORS® announced 2,565 transactions in the first half of March compared to 3,183 during the same period last year. The annual rate of MLS® sales decline was the smallest in five months.Mid-month March MLS® sales increased compared to the 2,044sales experienced in the first half of February. MLS® sales follow a recurring seasonal trend, with transactions generally increasing between January and May and then decreasing between June and December.”As we move into the spring market, it appears that we are seeing stronger demand for ownership housing in the Greater Toronto Area,” said TREB President Maureen O’Neill. “Buyers are reacting to the market’s strong foundation of affordability.”

The average price for MLS® sales was $365,499 compared to $385,405 last year.”Affordability has improved over the past few months due to a combination of lower home prices, near record lows for mortgage rates and rising earnings,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis.

The Buying Process

Many of you out there are now entertaining the idea of taking the plunge and buying your first home, but are boggled by some pretty overwhelming questions.  I am here to tell you, that you are not alone, there are many out there like you and at mycondonetwork.com, we’d like to share not only our expertise but connect you with other Buyer’s who have gone through what you are now journeying towards. In order to get you there, there is a check list that you should go through to help you get started and make sure that the process is informative and enjoyable from start to end. 

First off and this should be done before you even get excited about window treatments and lighting fixtures:

1) Speak to your bank or financial advisor and find out what you can afford and what is most comfortable for you to carry every month.  Make sure that you factor in (besides your mortgage payment), property taxes, utilities (maintenance fees if you are considering a condo), and home insurance.   Another good reason to speak to your bank and get a preapproval, is that you can get them to cap an interest rate for you for up to 120 days, which is great as interests at present are at an all time low.  If interest rates trend upwards over the next few months, you’ll be protected without having to commit to that particular lender.

2) Find a neighbourhood that you can call home

3) What type of home are you looking to make your first, is it a condo, or a house.  This will also be easy to identify once you’ve gone through the preapproval process as price will often answer this ?. 

4) Finding a realtor that understands what you want and how to make your dream a reality.  Finding a realtor is a pretty easy thing, but finding one that you can gel with, now that may take some work.  So ask friends and family to give you a referral of someone that you have come in contact with, do some research on the web and check out websites and see if the information that you find on the realtor websites give you any insite into what area they specialize in, then ask for a meeting with them and prepare a list of ?’s for them, like;

- how many years they’ve been in the business

- are they a broker or salesperson

-what areas of the city do they specialize in any types of properties, ie: condo’s etc…

-can they provide you with a list of references, previous clients that they have serviced

This should put you well on your way to home ownership!!