If it’s been a while since you last moved, you might be wondering how much you'll need to spend on your next home. That's an important question to answer, even if you're just at the "thinking about it" stage and haven't decided whether or not you'll look for a new property.

After all, knowing your budget might influence your decision. How should you determine your budget?

The first step is to calculate the maximum you can spend. This involves adding the money you'll get from the sale of your current property after repaying your outstanding mortgage, to any other funds you have available to invest plus the maximum amount of mortgage you qualify to receive.

Of course, just because you may qualify for a large mortgage doesn't mean you want those bigger payments. So, the second step is to think about your needs. What features are a must in your next home? For example, you might want four bedrooms and anything less would be a deal-breaker.

Make a "must-have list". That list can by used to find a baseline of properties on the market — and then find their average asking price. This will give you an idea of what it would cost to find a home that meets your must-have list.

The third step is to go beyond needs and consider the features you want. These might not be deal-breakers, but you'd sure love to have them in your next home. They could be a large deck, a location in a desirable neighbourhood, a big country kitchen, etc.

Ask yourself how much you would be willing to pay for those desirable features. $20,000? $50,000?
Once you've gone through these steps, you'll have the information you need to match your needs and wants to what's available on the market — and you’ll know how much you might expect to pay for your next home.

Thinking about moving? Wondering how much you should budget for your next home? Give me a call, I’d love to help you prepare for your next move!

Do you have only a few weeks to search for your next dream home? Don't panic. There are things you can do to find the perfect (or, at least, almost perfect) property — without getting too stressed out! Consider these tips:

• Pre-arrange your mortgage. You want to be able to make a good offer on a home right away, without worrying about financing. So, talk to your mortgage advisor or lender about getting a mortgage pre- approval. Sellers will take your offer more seriously if you have financing in hand.

• Decide what you want. What type of home are you looking for? What type of neighbourhood do you want to live in? The narrower your focus, the less time you’ll waste looking at properties that don’t fit your needs.

• Be open to possibilities. There are probably terrific homes on the market — right now — that are close to what you're looking for. So be prepared to consider properties that are less-than-perfect. Remember, what a home lacks today may be remedied with a renovation later on.

• Be flexible with your schedule. When you see a home you like, schedule a viewing immediately, even if it's at an inconvenient day/time, such as a weekday after work. Finding a great home, quickly, is worth some inconvenience.

• Get alerted to new listings. As they say, the early-bird gets the worm. So arrange to be alerted to new listings the moment they come on the market. That way, you can see these properties right away.

Want more tips on finding a home, quickly? Give me a call.

Imagine you’ve found the “perfect” home. It’s the type you want, the size you want, and has the number of bedrooms and bathrooms you want. It could very well be your next dream home.

But, will it fit your lifestyle? That’s a question worth asking before jumping in and making an offer.

Of course, the type, size and features of a home play a huge role in your lifestyle. However, so does the area.

For example, if you love playing golf on summer weekends, knowing there’s a course nearby will definitely put a smile on your face.

So, when shopping for a new home, make a list of neighbourhood features you know will impact your lifestyle.

List activities you and your family like to do, but also jot down conveniences, such as an easier commute to work. Those affect your lifestyle too.

Ideally, you want to see the perfect home and say, “Not only is this a great home, it’s also in an area that will provide us with a great lifestyle too.” When you’re able to say that, make an offer!

If you're thinking about buying a new home, you may be considering purchasing in a new development.

How does that compare to purchasing a resale property?

Buying a newly-built home has some advantages. Depending on the development, you may have leeway in the style of the home and the lot you choose. Also, when the home is built, you'll be moving into a place where everything is brand new!

On the downside, however, you may be forced to make a decision based purely on marketing brochures and floor plans. Unless there's a model home just like the one you want, you'll be buying sight unseen. Also, there may be unpredictable construction delays — an unpleasant experience if you've already sold your current property - or the lot grading might not turn out the way you were hoping for. 

Of course, buying a resale home may also have a downside. For example, the house might need work, such as a new roof. What you see is pretty much what you get. And, that’s true for the floor plan too. You can't ask for the living room to be five feet wider, unless you decide to renovate.

On the other hand, a big advantage of a resale home is moving into a neighbourhood that is already there for you to see and explore. Unlike in a new development, you can get a very clear idea of what it’s going to be like to live there.

Plus, you get to see the house too!

Regardless of which way you go, I can help you make the best decision and find the home that's perfect for you. Call today.

Regardless of whether the overall housing market is up or down, there can be fierce competition when it comes to buying a home in a desirable neighbourhood. So, if you want to live in such an area, how do you gain an advantage?

Here are some tips:

• Schedule viewings of homes for sale in the neighbourhood as soon as they go on the market. Have you ever heard the expression, “The early bird gets the worm”? It’s often true.

• Arrange to get alerted, via email or text, to brand new listings the moment they happen.

• Make sure you have your financing pre-approved, so you can make a quick and credible offer right away.

• Prepare your current home for sale, so you can list it quickly (if it isn’t already listed.)

• Know how to make an enticing offer that a buyer will take seriously. It’s not always the highest price that wins the deal.

Even in a competitive market, you don’t want to end up overpaying. That’s why savvy offer preparation, presentation and negotiation are also keys to getting the home you want.

Imagine finding a home that is perfect in every way, except for one nagging thing. That “thing” might be a smaller kitchen than you want, fewer closets than you need, or flooring that you dislike. Should you buy it anyway? How do you know if you should take a pass? It’s not an easy decision to make and depends on a number of factors.

Trying to answer these questions might help:

• How likely is it that you’ll find another home that better meets your needs?

• How soon do you want to move? (If you’re in a time- crunch, you may need to adjust your expectations.)

• Is the “except for...” something that can be fixed, perhaps with a renovation? For example, there are many ways to expand a small kitchen.

• If the home’s shortcoming is fixable, approximately how much will that cost? It might turn out that the improvement is a good investment.

• Can you live with the nagging “thing”, especially when the home is otherwise perfect?

It can be tough to work through a decision like this, especially if you’re in a situation where you need to make an offer quickly. Call today for help.

Have you ever shopped for a gift and had no idea what to buy? You may have gone from store to store hoping for inspiration, only to discover you wasted hours. Obviously, if you had a clear idea of what you wanted to find, you’d find it faster.

The same holds true when looking for a home. The clearer you are about the kind of home you want, the more likely you are to find it – and get it!

The best way to get clarity is to start big and then go small. That simply means you start by identifying the biggest thing – the area in which you want to live. What are the characteristics of the ideal neighbourhood for you? Make a list.

Next, go from biggest down one notch and think about the type of home you want. Size? Features?

Finally, think about the inside of your next dream home. Consider the number of bedrooms, size of the kitchen or living room, and any special features you might want.

Have fun imagining the next perfect home for you. You may discover it’s available on the market now – or maybe it will be soon.

If you're thinking ahead to your next dream home, the road you need to take to get there may seem confusing. Do you search for listings online? Drop by Open Houses on the weekends? Call the number on For Sale signs? Let's break it all down!

Here are the specific steps you need to take to ensure you find a home that fits your wants, needs and budget.

1. Find out how much your current property will likely sell for on today’s market.

2. Arrange for financing, so you know what you can afford.

3. Select neighbourhoods you'd love to live in. (That may involve some fun exploring!)

4. Decide on the type of home you want to buy. (For example: detached, three-bedroom, etc.)

5. Prioritize the property features you want most, so you can be flexible if a feature is missing from a home listed on the market that is otherwise ideal.

6. View properties on the market that closely fit your criteria, particularly new listings that may not yet be posted online. (Tip: Arrange to be immediately notified of new listings that are a good fit for you.)

7. When you find a home you want, make an offer designed to get the property — without overpaying.

8. Negotiate until you secure the deal. This may involve counter-offers.

9. If the negotiation is skillfully done and all goes well, the home is yours! 

As you can see, there isn't a lot of mystery in finding your next dream home. You just need to take the steps and get the professional help you need along the way.

Looking for a real estate agent that can get you to the finish line? Call today!

Imagine going to a restaurant with your family for dinner. You're planning on ordering a nice pasta and salad. Your heart is set on it. But, after you go to the trouble of driving there and getting a table, you discover that pasta is not on the menu.

That’s disappointing!

Of course, it’s only a meal. You can go somewhere else next time. But, what if the same scenario played out once you had moved into a new neighbourhood? Imagine you were counting on public transit being in easy walking distance, but discovered the nearest stop is four blocks away. Argh!

That's why it's important to ensure a neighbourhood has the characteristics you want — before you make an offer on a home you like.

Think about what you want most in a neighbourhood. Consider work, commuting, schools, playgrounds, noise level, walking and cycling, hobbies, shopping, entertainment, etc.

If there is a neighbourhood feature that is very important to you, check it out for yourself. For example, if easy access to a main highway is desirable for commuting, take the route for a test drive.

You can get a lot of information on a neighbourhood through the listed property's description and MLS listing.

Want more in-depth insights into an area you're considering? I have that information. Call today. 

Even if you’re not thinking about selling your home, you might be wondering how much of a new home you can afford. You might see a house for sale in a nice neighbourhood, for example, and think, “Could I get into a house like that? Is that even possible?”

Why not find out?

It only takes a few calculations to determine how much of a new home you qualify to buy. The calculation involves estimating how much you can get for your house on today’s market, taking a look at the type of home you want and determining what a house like that is currently selling for, and then taking into consideration your income, savings and other financial resources.

Once you put it all together, you’ll have a price range within which you can confidently shop for a new home.

This exercise might surprise you. You might find out you can afford to get into a home and neighbourhood you’ve always dreamed about. It’s worth finding out!

Purchasing a home is not the same as buying a product off the shelf. You don’t simply pay the price on the tag and know it’s yours. You can’t just see a home for sale and say, “I’ll take it!”, especially if the market is competitive.

You need to make an enticing offer. That offer, of course, would include the price you propose to pay. That price may or may not be the “price tag” or the asking price.

In order for your offer to be successful, it needs other ingredients too.

For example, winning offers often include evidence that appropriate financing has been arranged. This gives the seller confidence that you can afford the home and that the deal won’t fall through due to an issue with the mortgage.

Also, you may need to put conditions on your offer, such as making it conditional on selling your current home. You’ll need to be careful here. Adding a condition or two may be necessary to protect your best interests, but may also dissuade the seller from accepting your offer.

Negotiation is perhaps the most important part of the buying process. Even if there are no competing offers, there will likely be back-and-forth discussions about price, conditions, closing dates, and more.

Savvy negotiating is critical, not only to ensure you get the home, but also that you get it for the lowest price and best terms possible. Real estate negotiation is not for the timid. It requires in- depth knowledge of the local market, hard-won negotiating skills, and experience.

If you’re selling your home, buying a new home, or both, keep in mind the important role that negotiation has in getting you what you want.

Imagine you’ve purchased a home in a nice neighbourhood. Then, once you’ve moved, you discover that your kids’ school is not only far away, but also difficult to get to because of heavy commuter traffic. That’s an irritation that is not likely to go away until your kids have grown!

How do you avoid a situation like that?

When shopping for a new home, make a list of places and features you’d like to have nearby. Then, factor those in when selecting neighbourhoods to target.

For example, you might want your commute to work to be a relatively easy drive or transit ride. You might also want a park or playground to be within reasonable walking distance. If you have a hobby, such as golf, you might hope for a driving range or golf course to be within a half-hour drive.

In any home search, you may need to compromise. You may not find all of your wish list available in any one neighbourhood. But, the most important places and features you hope to have should definitely be in your profile of the ideal home.

Wouldn’t it be nice if you had all the time in the world to find your next dream home? You could leisurely browse the current listings, select homes you’d like to see, schedule visits on dates that are most convenient for you, and make an offer on a property only after you’ve had plenty of time to consider all the alternatives.

Sure, that sometimes happens, but it’s not typical. Often, people shopping for a home are on a timeline. Sometimes a very tight timeline.

So how do you find your next dream home when you don’t have all the time in the world?

First, you need to develop a clear picture of the home you’re looking to buy. How many bedrooms? What size of property? What type of structure (two story, back split, etc.)? Then, you need to list your preferences. These might include “large kitchen” or “main floor office”.

Once you’ve completed that exercise, you’ll have a more detailed profile of the type of property you want. That will make it easier to decide which of the listings on the market you want to see.

You should also narrow down the area in which you’d like to live. If you have three or four targeted areas, and only consider listings in those areas, your home search will be much faster.

What if you don’t know the neighbourhoods well? Visit a few. Drive around. Explore. Get as much neighbourhood data as possible, such as demographics, recreational activities, parks, shopping, schools, etc. Then choose the neighbourhoods that fit your lifestyle.

Finally, the best way to find a new home on a tight schedule is to work with the right real estate agent — someone who, like me, is experienced in the local market. Call me anytime.

Imagine this scenario...

You’re shopping for a new home. You drive to visit a recent listing. As you walk through the front doors, you’re impressed. Every room looks fantastic. You see yourself relaxing on the spacious patio, cooking in the modern kitchen, and enjoying evenings with the family in the cozy living room.

Your emotions are on overdrive. This is your dream home!

Should you make an offer? Probably. In fact, you should make that decision quickly in case there are other interested buyers. However, your decision shouldn’t be guided purely by emotion. You want to make sure you take practical matters into consideration too.

For example, you’ll want to consider:

Is the property within your price range?
Does it have everything you need?
Do you like the neighbourhood?
How old is the property?
Are there items, such as the furnace, that may need to be replaced soon?
Will it need any major repairs or upgrades?
What are the average monthly costs of carrying the home? (Property taxes, utilities, etc.)

Once you’ve considered the purchase of the home from a practical standpoint, you’ll have a lot more confidence in your decision when you make an offer.

Need help? Call me.

Imagine you’ve found the perfect home. You love it. You’ve made an offer that’s been accepted. So far so good! The only catch? You’ve wisely made the offer conditional on passing a professional home inspection.

What happens if that home inspection reveals a major issue?

First, you should know that, depending on the age of the property, a home inspection will typically turn up at least a few areas of concern. The inspector might find loose insulation in the attic that is thinning out or roofing shingles that will need replacing in two or three years.

Issues like those are not usually deal-breakers.

However, if the home inspector finds a major issue — such as old wiring that’s worn and presents a safety concern — then you’re facing a potentially high cost of repair should the deal go through. I

n a situation like that, as your real estate agent, I will address the issue with the seller, usually through the seller’s agent. Since neither of you will want to lose the deal, the seller often agrees to get the repair done at his own expense or, have some or all of the estimated repair cost deducted from the sale price.

Will the deal be in jeopardy? Usually not. In most cases, if you have a real estate agent like me working in your best interests, it all works out.