When you purchase a home, you’re hoping it will continually go up in value — just like a good investment.
 
However, there’s something else that you want to see go up in value as well: the neighbourhood. In fact, the neighbourhood plays a key role in what the home will be worth in years to come. If the neighbourhood goes down in terms of desirability, so will the market value of the home.
 
That’s why, when shopping for a new home, it’s important to get a feel for the value of the neighbourhood, and whether or not it’s on the upswing.
 
How do you do that? One way is to simply take a walk. Look at the properties. Are they well maintained? Is the landscaping groomed and attractive? Those are signs of “pride of ownership” — a clear indication that owners value their homes and the neighbourhood.
 
Another way is to do some research. Has crime gone up in the neighbourhood? Are there improvements planned, such as new parks? Is the neighbourhood attracting the kind of people you want as neighbours? How does the neighbourhood school rank?
 
Some of this information may be difficult to get on your own. A good REALTOR® can help you. Call today.

If you own a car, you know there’s more to the cost-of-ownership than just finance payments and gas. You also need to budget for maintenance and repairs. If your car is older, those costs are going to be higher. That’s just common sense.

The same is true of your home. It’s wise to budget for anticipated repairs and maintenance. Otherwise, you might be caught by surprise when you find that your furnace stops working and needs to be replaced. That can easily be a four-figure expense.

Experts recommend that you set aside 1% of the value of your home for repairs and maintenance. For a $500,000 property, for example, that would be $5,000. That is, of course, merely a rule of thumb. If your home is older, you may need to budget more.

Another recommended method is to budget $1 a square foot. If you have a 2,500 square foot home, that would be a budget of $2,500. Again, that number would need to be higher for older properties.

When budgeting, consider things that are getting old and will likely need to be replaced within the next three years. Examples include roof shingles, furnace, A/C unit, deck, fence, plumbing, and windows. Depending on the size and model, a new A/C unit will cost at least $5,000. Anticipating that expense will help you plan accordingly and avoid the shock of an unpleasant and costly surprise.

Keep in mind that budgeting $2,000 for repairs and maintenance doesn’t mean you’ll actually spend that money this year. But, if needed, the budget will be there, and that’s peace-of-mind.

When you bought your first home, contents insurance may have been the furthest thing from your mind. So, if you haven’t had a close look at your policy lately, perhaps it’s time to consider the valuables in your home, and the details of your existing policy. Below are a number of household items and/or incidentals that may not be included in your current insurance coverage:

• High-tech equipment and systems, such as HVAC, hot water, central-vac, security, video & audio gear, computers, personal/portable devices, etc.

• Home upgrades including major appliances, utilities, materials, etc.

• Freezer and food spoils, bicycles, sporting and hobby equipment, etc.

• Original art of photography, wedding gifts, heirlooms, keepsakes, etc. 

If this list seems overwhelming, you may be comforted to know that some insurance policies have comprehensive policies that will cover most of these items as one, while some wlll encourage you to identify specific items to avoid higher premiums.

No one wants to deal with a burglary. How do you reduce the chances of one happening?
 
Fortunately, burglaries are a well-studied phenomenon — especially by law enforcement. These studies have identified specific things you can do to cut the risk dramatically. Here are some ideas:

• 34% of home break-ins occur through the front door. Experts recommend investing in a door with a top-quality locking mechanism. (The best are those that lock at three points of contact.)

• 50% of burglars will be deterred if your home has some sort of video monitoring system. A thief doesn’t want his face on YouTube!

• Unfortunately, signs and window stickers warning of an alarm system do not deter thieves. However, 62% of burglars will immediately run away when an alarm goes off. Always turn on your alarm system when you’re not home!

• 22% of burglaries occur through a sliding glass door or patio door. Make sure it’s locked and also use a solid metal jammer.

• Some thieves use frequency scanners to gain access to garages. Police recommend changing your remote entry code regularly and putting blinds or curtains on garage windows so thieves can’t see (and be tempted by) any valuables inside.

As you can see, there are many simple things you can do to reduce your chances of a burglary dramatically. The effort is worth it.

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 a great REALTOR®. Call today.

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,649 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in April.  Sales were 2.7 per cent lower than the same month last year yet 13 per cent higher than the 10-year average.

There were 2,053 properties listed in April, a decrease of 14.5 per cent compared to April of last year, and 9.4 per cent lower than the 10-year average.

Every community in RAHB’s market area has its own localized residential market.  Please refer to the accompanying chart.