Lifestyle is a very important criterion when shopping fora new home. After all, a home and it’s surrounding neighbourhood are the places where much of your lifestyle is going to be experienced.
So when considering a new home, think about the lifestyle to which the property is going to lend itself. Ask yourself:
How much entertaining do we do?
How important is it to have good schools located nearby?
How long will the commute to work be?
How big of a backyard do we require?
Do we need a rec room?
How easy will it be to get to golfing, dance lessons, baseball practices, movies and other activities my family and I enjoy?
How important is it to be in a quiet area?
Do we want to local park nearby for jogging, playing with the kids, and walking the dog?
This list is just an example. Ideally, you’ll create your own list of questions to ask yourself when considering a particular home.
Remember when you found your current home? You walked in and got the feeling it was a great fit for you and your family. Now that you’re planning to sell your house, you need to make that same impression on the next potential buyer. Here’s how to do it.
Clean and de-clutter
Make sure your kitchen, bathrooms, and floors sparkle. Use old-fashioned elbow grease or call in professional cleaners to get the job done. Can you walk into your walk-in closet? Does your car barely fit into your garage? Start packing early and put your seasonal and personal things into storage. Make your rooms and cupboards look spacious.
Repair the little things
Put on your home inspector’s hat and walk through your house. Make a list of the items that need attention and arrange for repairs. Focus on your entry-way, drywall, paint, sticky/squeaky doors, leaky faucets, flooring and countertops.
Help buyers see themselves in your house
Remove your family photos and personal mementos. Buyers have difficulty picturing themselves in your house when your personal items are on display.
Let the light in
Bright homes often have a higher resale value. Pull back blinds and draperies to let natural light in. If you still have some dark spots, add floor or table lamps to the area.
Groom your yard
You wouldn’t go to a job interview without being well groomed, so make sure your yard is groomed for viewings. Trim your hedges and shrubs. Cut the grass. Pull weeds and cut back any greenery that covers walkways.
So you’ve found your dream home – but you’re competing with other buyers? See what Beth has to say about her strategies on how to deal with a multiple offer situation.
And if you’re interested in learning more, you can call or text at 250-498-9867 or Click here to email Beth
Vancouver, BC – The British Columbia Real Estate Association (BCREA) released its 2018 First Quarter Housing Forecast update on March 9.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 8.6 per cent to 94,855 units in 2018, after decreasing 7.5 per cent in 2017. A record 112,209 unit sales were recorded in 2016. The ten-year average for MLS® residential sales in BC is 84,800 units. Strong employment growth, consumer confidence and favourable demographics have been highly supportive of housing demand over the last four years. However, slower economic growth, tougher mortgage qualification rules, and a rising interest rate environment are expected to slow the pace of housing demand over the next two years.
“Housing demand in the province is expected to moderate this year and in 2019,” said Cameron Muir, BCREA Chief Economist. “More stringent mortgage qualifications and rising interest rates will further erode affordability and household purchasing power.”
The 5-year qualifying rate is forecast to rise 35 basis points to 5.49 per cent by Q4 2018, and another 21 basis points to 5.70 per cent by Q4 2019. “With home prices already at an elevated level, BC households are more vulnerable to rising interest rates.”
The supply of homes for sale continues to trend at or near decade lows in most BC regions. However, this condition hasn’t gone unnoticed by home builders. There are over 60,000 homes now under construction in the province, well above the previous peak of 45,000 units recorded in 2008. In Metro Vancouver, over 42,000 units are in the pipeline, 56 per cent more than recorded in 2008. Slowing consumer demand combined with a surge in new home completions over the next several quarters will create more balance in the housing market and produce less upward pressure on home prices. The average MLS® residential price in the province is forecast to increase 6.0 per cent to $752,000 this year, and a further 4.0 per cent to $781,800 in 2019.
“Copyright British Columbia Real Estate Association. Reprinted with permission.”
An Open House, or really, any appointment to view property, is an event. And, like many events, it’s easy to get caught up in all the excitement and energy. In fact, when you visit an Open House, you might even end up rubbing elbows with other buyers who are there at the same time. It can feel like a party!
In an environment like that, it’s not unusual to forget to ask important questions about the property. Here are some of the most common:
How old is the roof?
How old is the furnace, air conditioner and other HVAC equipment?
How does the price compare to similar properties in the neighbourhood? (You don’t want to make an offer that’s too high.)
What are the characteristics of the neighbourhood? (Amenities, safety, traffic, access to public transit, property turnover, etc.)
What doesn’t come with the home? (Ask specifically about kitchen appliances, gas-connected BBQs, chandeliers, window coverings.)
Are there any potential impediments to the sale? (Tenants, outstanding liens, etc.)
Are there any outstanding maintenance issues, or repairs that need to be done? (For example, cracked ceramics on the foyer floor.)
Are there any issues that impact the full use of the property? (Ask specifically about shared driveways or walkways, public “right of way” through the property, water drainage rights from neighbouring homes, etc.)
Yes, an Open House can feel like a frenzy, and if it’s a home you love, you might feel pressured to make an offer. But, it’s important to take the time to ask the right questions and consider your decision carefully. You don’t want to find out, too late, that there were questions you should have asked.
Want more tips on finding the home of your dreams?
An Open House, or really, any appointment to view property, is an event. And, like many events, it’s easy to get caught up in all the excitement and energy. In fact, when you visit an Open House, you might even end up rubbing elbows with other buyers who are there at the same time. It can feel like a party!