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BEWARE OF OVER-DOWNSIZING OR OVER-UPSIZING

Buying a new pair of shoes is relatively easy. Once you find the style you like, all you need to do is try them on and see if they fit. If they do, you go to the cash register and pay.

When it comes to size, buying a new home can be trickier! Whether your intention is to upsize or downsize, figuring out the right size can be especially challenging.

Say for example, you’re downsizing from a large two-story home to a smaller bungalow. You don’t want to underestimate the space you need and end up in a place that feels tight. If you’re going the other way and upsizing, you don’t want to end up sinking extra money into a property that’s larger than you really need.

So how do you avoid these scenarios?

One of the best ways is to start by considering your current home. Do you use all the rooms in your home regularly? Is there a bedroom that’s rarely occupied? Has the recreation room become simply a storage area? If you’re downsizing, subtracting rooms you scarcely use can give you a better idea of what you need in a new home.

Upsizing is a bit more challenging because you have to anticipate what you will need in the future. For example, if you have young children, and your place is feeling cramped, then a home with a recreation room or separate family and living rooms may be a good idea. You may also need a bigger kitchen with a spacious eating area (in addition to a separate dining room.) Think about the extra room you’ll need and how you’ll use that space.

When I work with a client, I typically sit down with them and discuss the type of home they want in detail — and, based on needs and circumstance, I make expert recommendations. Bottom line, I help clients find the perfect fit in a new home. Contact me if you’d like to learn more.

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5 financial habits that will make you richer

You don’t have to win the lottery to get wealthier. Anyone, on virtually any income, can simply adopt these habits:

1. Save a little from each paycheck. Tucking away a percentage of your income and putting 50% of all raises towards savings will build up your savings substantially over time. Automate those saving by scheduling an electronic transfer to your savings account at the beginning of each month. 

2. Avoid credit card debt. Interest rates on those are famously high and can cost you a lot of money each year. Charge only what you can afford and don't miss any credit card payments.

3. Feast at home, not at restaurants. It’s fun to go out to a nice restaurant occasionally. Just don’t make it an expensive habit. There is tons of quick, easy & healthy recipes available on the internet; combine it with a bottle of wine and you have a feast!

4. Watch out for automatic renewals. It’s all too easy to forget to cancel a subscription to a magazine you no longer read — until, of course, you’re charged again!

5. Live below your means. Almost every person who is debt free or financially independent will tell you that one of the keys to their success was to live below their means. In other words, they make a habit of spending less than they earn.

These simple habits can help you get closer to financial freedom. The secret is to do it again and again, week after week, month after month, year after year.

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Want to sell your house faster?

What do you notice when you visit a model home in a new development? Often, you’ll find wonderfully furnished and decorated rooms that anyone could live in.

The operative word here is “anyone”.

Sure, there might be a computer screen on a desk in the den, or a child’s doll sitting in a corner, but for the most part, all the rooms are anonymous. There is a sense of family, but no specific family... the feeling of personality, but no specific person.

The professionals who set up a model home make it anonymous for a reason. They want buyers to view it as their potential home, not someone else’s. These professionals know — based on decades of experience — that this strategy helps sell houses faster and for a better price.

Why not use this same strategy when showing your house?

It’s easy. Just put away that soccer trophy, take down the wedding photo, and box those souvenirs from the family vacation at Disneyland. No, you don’t have to completely empty your closets and drawers. Just pack those personal items that can be seen when a potential buyer views a room. Put away toothbrushes, collectibles, even unopened mail. Don’t forget the fridge door, which is often a mosaic of personal items in most family homes.

If you have lots of personal items, consider renting a storage unit for the few weeks that your house will be on the market. It’s worth the investment.

You wouldn’t think of buying a birthday cake with a stranger’s name on it. Keep that in mind when you show your house. Make it anonymous!

Need more ideas for selling your house faster and for the best price possible? Call today.

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Subtle signs it may be time to sell

Sometimes the reason for putting your home on the market is crystal clear. For example, you might have a job relocation and need to move.

Or, you might have decided to downsize because the kids have left the nest.

However, there are many other motivations to list your home that are not as obvious, and yet are still good reasons to make a move. Here are just a few examples...

• There’s something you’ve always wanted in a home that your current property doesn’t have, such as a wooded backyard.

• You want to be closer to work, or to activities you enjoy, such as golf.

• You want to be closer to family.

• The neighbourhood is changing in a way that no longer fits the lifestyle you want.

• There’s another neighbourhood you’ve always dreamed of living in.

• Your tastes have changed and you want to live in a different type of home.

None of these reasons makes it an absolute necessity to list your property and find a new home. Yet, they’re all worth considering, especially if moving will make you and your family happier, and provide you with a more desirable lifestyle.

Want to talk about the possibilities? Call today

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Checklist for WOW-ing a buyer during a viewing

Imagine you were selling your car, and a prospective buyer was on the way over to see it. What would you do? You would probably make your vehicle look as clean and shiny as possible, inside and out.

The same holds true if you’re selling your home and there’s a potential buyer on the way. You want the buyer to be wow’d by your property. Here’s a handy checklist to follow:

• Clean every room. Make your entire house look as “guest ready” as possible.

• As much as is feasible given the time, reduce clutter. Consider packing some items into boxes and storing them in the basement or garage.

• Get pets out of the house. You can take them for a walk, have a neighbour watch them, or take them to a good kennel.

• Turn on the lights, even during the day. You want each room to look bright.

• If there are any maintenance issues, such as a dripping faucet, let your Realtor know. Often, it’s best for buyers to be told rather than discover such issues themselves.
• Open the curtains, except in those rooms where the sun will be uncomfortably strong during the viewing.

• Move your vehicles from the driveway so the buyer can park there. (That can help them imagine living there, which is what you want!)

• Make sure your foyer is especially clean and uncluttered. It’s the first “room” the buyer visits.

• Avoid cooking just before a viewing. Even if the meal is wonderful, the aroma may linger. (Some people don’t like the smell of certain dishes, such as fish.)

• Freshen up the outdoor space. Mow the lawn. Sweep the walkway.

This viewing checklist will help you prepare your home quickly, so when the buyer comes in your front door, there’s a much better chance he or she will be impressed.

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Using neighbourhood data to help sell your home

Your neighbourhood has a lot of features that can help sell your home faster. Unfortunately, buyers don’t usually notice those features just by driving around. So, you need to make sure they get all the information they need about your neighbourhood.

For example, say homes don’t go on the market often in your area. That’s an indication that the quality of life in the neighbourhood is so good that no one wants to leave! In real estate we measure the area’s “turnover rate”, and it’s handy data to have when listing your home.

Another bit of data that buyers can’t simply see is the local crime rate. But, most police departments keep those statistics. If your neighbourhood has a low crime rate, that’s an obvious plus to sellers.

Demographic data can also be helpful when selling your property. If your neighbourhood has a lot of families, for example, that’s going to be appealing to buyers with kids.

Even local development plans can play a role in making your home more attractive to buyers. If a new ramp to a major highway is in the works nearby, getting to work is going to be easier. That’s a big benefit to commuters.

Other types of data that can help sell your home include:

• Planned local construction.
• Proposals for neighbourhood improvements. (For example, a new playground.)
• Rates at which local property values are increasing.

Any information that shows the advantages of living in your area is going to be useful when selling.

By the way, this is the kind of information I provide to prospective buyers when selling your home. Contact me today.

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Should you buy the latest home automation gadgets?

You’re at work when the thought hits you, “Did I lock the door when I left this morning?” You check your smartphone, see that you didn’t, and click the “LOCK” button. Now your house is secure.

That’s home automation for you!

But, is home automation a good idea? That depends on a number of factors.

On the pro side, home automation can improve your quality of life. There are automation products that will adjust heating/cooling depending on whether or not you’re home, make your morning coffee when you get out of bed, and the list goes on and on. These conveniences save you time.

Home automation can also give you peace- of-mind. It’s comforting to be able to remotely see the inside of your home and check that everything’s okay.

Home automation can also make your property more appealing to buyers. Traditionally, buyers like homes with security systems, and will appreciate other automation gizmos, too. The only downside is the cost. Like most new technology, home automation products can be pricey and may become out-of-date within just a few years.

Thinking about it? Experts advise you to do your research first. Check out product reviews online. Then, if you determine that a particular product is going to benefit you, go for it!

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Do open houses still work?

Buyers are using the internet to search for properties more than ever before. In some cases, they can even go on a “virtual” tour of a home using their smartphone or desktop computer. So, you might be wondering if the old- fashioned Open House still works these days?

The answer is yes. Otherwise, you wouldn’t see them advertised. If Open Houses didn’t work, no one would be doing them!

No matter how good the internet gets, it can’t compete with a buyer being able to visit a property in person, walk through the rooms, stand in the backyard and imagine himself BBQ-ing with his family, stroll the area, and meet neighbours.

An Open House makes it easy for buyers to do just that. It’s an open invitation for them to come by at a specific date and time, to see the property and chat with the REALTOR®. It’s a casual environment, which many buyers prefer.

Some buyers, in fact, are more comfortable going to an Open House before scheduling a private viewing.

Will you need an Open House to sell your home? That depends on a lot of factors. When I work with clients, I put together a marketing plan designed to sell the property for the best price possible. Depending on the circumstances, that may or may not include an Open House.

If you have questions about what would be involved in a successful sale of your home, contact me. I’d be happy to chat and answer your questions.

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How a Professional Chef would remodel your kitchen

Watch any TV cooking show, and you’ll notice that a chef’s kitchen looks quite a bit different than what you’d find in most homes. But, that doesn’t mean you can’t have one just like it in your home! With a little remodeling, and splurging on some new items, you too can have a kitchen worthy of Gordon Ramsey, Jamie Oliver, or Rachel Ray.

Chefs love counter space. So, when remodeling, plan to create as much as possible. If you have an existing island, for example, you can replace the countertop with a larger one. Just adding eight inches in both directions will make a big difference.

Most chefs have more than one oven. If that’s impractical for you, consider buying a double-oven stove. Also, chefs prefer gas burners for quicker heat-up times and exacting control of cooking temperature.

One thing you’ll notice about chefs is they love stainless steel. That’s because it’s easy-to-clean, hygienic and durable (assuming you take care of it).

Finally, because chefs spend so much time in the kitchen, they want the space to be attractive and comfortable. So, when remodeling, keep decor in mind.

Even if you’re just an amateur chef, creating a chef-worthy kitchen will make the foodie in you smile.

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Top 3 things to do before you sell

This is a good question to ask or consider now that our market has changed to a balanced market, inventory has risen, and you are most likely going to have some good competition for your home when you go on the market.

Number 1 is typically removing about 25-50% of furniture and items from a property to make the space feel larger and improve the flow throughout the home. It doesn't take any of us very long to collect way more stuff than we need. This is the beginning step of our staging process.

Number 2 is painting; this comes with a disclaimer: the appraisal institute estimates a 200-300% payback on painting but I can tell you firsthand that it is only the case when you use the right colour, if you are doing it in preparation to sell. The right colour changes with the times and we pick a colour that we know the maximum amount of people will like and that will least likely annoy anybody.... yes, a little neutral and some may consider bland but totally different if you are picking a colour that appeals to you because you are going to live with it for the next 5 years; than ignore payback in that case, it’s for your enjoyment, which is perfectly fine!

Number 3 is lighting, or maybe a tie for number 2, in my opinion. There is nothing worse than a dimly lit home to make it feel small, a bit depressing and it doesn't exactly give you that clean feeling either. There are many LED fixtures at a reasonable cost these days and worth considering. The bulbs are very important as well; I would recommend a temperature of 2700K-3000k which is closest to what our eyes are used to and distorts the colour less as well. Around an 8.5-watt LED creates something close to 60 watts of light. WARNING: Do be careful today when buying the many fixtures that are designed for LED bulbs i.e. Ikea; I see many hall fixtures with a clear 40-watt max warning on them loaded with 60w and 100w bulbs.... a fire hazard I believe, so another reason I like the LEDs to get the wattage up.

Call for a free consultation to help get you started! 905-690-8977

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Should you worry about market fluctuations?

You turn on the television and watch a news story about housing prices going down. Then you read an article about the housing market on the upswing again.

It’s a little like being on a roller-coaster ride!

Unfortunately the ride isn’t much fun if you’re thinking of buying or selling a home. In fact, it can be very confusing and frustrating. You just don’t know if “now” is the right time to make a move.

In reality, the housing market has been fluctuating for decades. Yet, people sell their homes every day for good prices, and just as many people get into their next dream homes affordably.

When you hear news of market fluctuations, there are two important things to consider.

First, a lot of media information about the housing market is national, or at least regional. If the housing market is trending up or down nationally, remember that it doesn’t necessarily mean that your LOCAL market is doing the same.

In fact, it’s entirely possible for housing prices to be rising in your neighbourhood while they are falling nationally, and vice versa.

Secondly, if you’re selling a current property while buying another home, then the net effect of market fluctuations may cancel out.

Say, for example, that the local market is on the upswing. You’ll probably be able to sell your current home for a good price. However, the home you purchase will likely also be priced to reflect the upswing.

The same holds true when the market is down.

All that being said, there are some circumstances in which you need to consider market fluctuations when deciding whether or not to make a move. Call today for more information.

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How much is your home worth?

Your home has both a personal value and a market value.

When you think of your home as a place where a family is raised and memories are built, then it’s like those popular MasterCard commercials on television: Your home’s value is “priceless”.

But, when it comes to how much your home is worth to potential buyers, then things get much less sentimental. It’s the “market value” of your property that determines how much it will sell for, not your personal feelings.

Market value is simply the price at which similar properties in similar neighbourhoods are currently selling. If you were to list your home on the market today, you could expect to get somewhere close to that figure.

Even if you’re not planning to sell your home in the near future, it makes sense to get an update on its fair market value. Your home is an investment – and you should know how much that investment is worth.

There may also be circumstances where you might have to move quickly. Knowing the market value of your home will help you make quicker – and better – decisions.

How do you determine the market value of your property? Call today.

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Lighting matters when selling your house

Remember the last time you were in a furniture store or other major home retailer? Remember the fully decorated displays of furniture, appliances and other products? Some of those may have even been organized as model rooms.

What did most of those displays have in common? Chances are, they were well lit.

In fact, in the retail industry, there are professionals who specialize exclusively in display lighting. It plays such an important role in showcasing and selling home products successfully that the stores are willing to absorb the expense.

The same holds true for your house.

If you want to show your house well, and sell it quickly and for the best price, make sure every room is well lit.

There are probably some rooms in your house where the lighting is adequate, such as the kitchen and bathrooms, and perhaps the foyer. But there are other areas where the lighting may be mediocre. Take a close look at:

• Closets
• Bedrooms
• Hallways
• Storage areas
• Laundry rooms
• The garage

If there are areas in your house that are dark or shadowy, the solution may be as simple as installing higher wattage bulbs, provided your fixture can accommodate them. Keep in mind that brightness can vary significantly from one type of bulb to another. Your goal is to make the room feel bright yet comfortable on the eyes.

Also, don’t forget to open drapes and blinds. Often the best and most pleasant source of light for a room is the sun shining through a window.

Want more tips on showing your house well? Call today.

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Does your home still match your lifestyle?

When you purchased your current home, chances are it was a good match for your lifestyle. It had the space you needed, the features you wanted, and a location that worked for you.

But for most people, lifestyle and needs evolve through the years. Kids get older. Jobs or careers change. People take on new hobbies and other interests.

As a result, the home that was ideal a few years ago may not fit with your current lifestyle. That doesn’t necessarily mean you need to shop for a new home! However, it may mean that it’s worth taking a look at the market and seeing what’s possible.

Think about the kind of home that would support your lifestyle today. Ask questions like:

• How many bedrooms do we need?
• How easy is it to travel to work each day?
• What special features do we want in our home? (Big backyard? Rec room? Quiet neighbourhood?) • What do we want nearby? (School? Playground? Walking and biking trails? Shopping? Entertainment? Golf?)
• What else does our home need in order to support our lifestyle?

After asking yourself some of these key questions, you may, in fact, find that the property you have now is still ideal for your lifestyle.

If, however, your home is no longer a good fit, you have options. You can stay in your current home despite it no longer being ideal; you can make some changes (a renovation, perhaps); or, you can see what’s available in the housing market.

If you need help with any of these options, call today.

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