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!

If you’re thinking of selling your home, you may be wondering about the current market demand for homes like yours. Will there be a lot of qualified buyers eager to see it? Will your home compete with so many similar listings that it may take a few weeks to sell?

In basic economics, demand is defined as the number of buyers versus the amount of inventory. There’s a fancy scientific formula that calculates demand, but in real estate terms it’s simple:

• High demand: More buyers looking than there are homes like yours available. (Example: 15 active buyers but only 10 homes like yours on the market.)

• Low demand: Fewer buyers looking than there are homes like yours available. (Example: 10 active buyers on the market and 15 homes like yours listed.)

The demand impacts not only how long it may take to sell your property, but also the asking price and marketing.

Fortunately, you can sell your home even in a low demand cycle. You just need to stage it well, price it right, and market it effectively.  

Thinking of selling?  Give me a call, I’d love to help you get the selling price your home deserves!

When you sell, you’ll probably want to get the best possible price for your property. Who wouldn’t? Unfortunately, there are many ways to inadvertently leave money on the table – sometimes thousands of dollars.

How do you avoid that possibility? Just remember the 4 Ps: 

• Prep. Do everything you can to prepare your home so that it looks great to buyers. Clean, declutter, fix, make improvements. Home staging can also help. In fact, effectively staged homes have been shown to sell for up to 5% more than comparable unstaged properties.

• Price. Set the right asking price. That’s crucial. If it's too low, you'll attract only deal-hunters — and you might end up getting less than you should. If the asking price is too high, however, you'll discourage those buyers who might otherwise be interested and willing to make a good offer. Be careful with pricing!

• Promotion. There may be qualified buyers out there who would be eager to see your property. But, they need to find out about your listing and the great features of your home first! Reaching these buyers requires more than merely profiling the listing on the MLS. Homes that sell for top dollar often have strong marketing — directed to the right buyers.

• Proposal. Once an offer comes in, there may be an opportunity to negotiate with the buyer to maximize the final price you get. This requires deep knowledge of the local market as well as street-smart negotiation skills. If done effectively, these negotiations can help put more money in your pocket. 

These four Ps are easy to remember, but sometimes not so easy to implement! That's why working with a great real estate agent is so important. Contact me to get the conversation started. 

As you probably know, it's easy to lower the costs of a renovation. Just hire an inexpensive, fly-by-night contractor — and hope for the best!

Chances are, you won't want to take that risk. So how do you ensure you get quality work while keeping your budget in check?

Here are some tips:

Get estimates from at least three contractors. Often prices can vary widely, even amongst contractors with similar reputations and experience.

Narrow the project focus. If you're getting a bathroom renovated, for example, decide whether you need the contractor to do the demolition and paint the new walls. Can you do that yourself?

Shop around for the building materials. Yes, contractors often have access to wholesale prices. Still, you might be able to find a bathtub and vanity at a lower cost.

Negotiate. Sometimes a contractor is willing to lower the price for concessions, such as quick payments or more time to complete the job.

Schedule the renovation during a low-demand season. For example, deck contractors might charge more in the spring than the fall. It's supply and demand. More people want their decks done in the spring.

Keep in mind that spending a little more for a skilled and reputable contractor can save you money in the long run. The renovation will have fewer, if any, "issues" (that may require an expensive fix) and will last longer. 

Depending on your decor and furnishings, some rooms in your home may appear to be smaller than their physical size. Since buyers are typically looking for as much space as possible, it’s important to make all your rooms seem, well, roomy!

Here are some tips that will help:

• Consider removing any unnecessary pieces of furniture.
• Experiment with rearranging the furniture. Determine which set-up makes the room look its best.
• Position tall furniture, such as armoires, on the longer walls.
• Lighten up on knick-knacks and similar items on tables and surfaces.
• Use mirrors to help create the illusion of more space.
• If possible, remove double or queen size beds from small
bedrooms and replace with twin beds. (Beds can be rented for home staging purposes.)
• In smaller bathrooms, keep shower curtains open.
• During viewings, open the window coverings. This leverages the most spacious room in the world – the outdoors!
• Make sure each room has ample lighting.

Your goal is to make each room in your home seem inviting, spacious and comfortable.

Imagine your coffee maker switching on by itself, staying on for hours, overheating and becoming a fire hazard. That's not science fiction. As more and more appliances incorporate WIFI, the opportunities for hackers to play havoc with your home gadgets increase.

How do you prevent that from happening? Here are some safety tips: 

• If your gadget uses a password to access the settings, change that password frequently. Ideally, change it once every 3 months.

• Some gadgets, such as alarm systems, come with their own connection to the internet. Learn how to turn that connection off if it becomes necessary to do so.

• Don't leave an internet-connected appliance or other gadget on constantly unless it’s necessary. For example, you don't need your home speaker system connected to your digital music providers all the time.

• Baby monitors with video are a common target for hackers. Use a password unique to that device and change it often. Never leave the monitor on when not in use.

• Never share passwords with anyone unless it is absolutely necessary. Most home WIFI systems have a "guest" feature with a separate password and limited access. Use it.

In this age of internet connectivity — from coffee makers to stereos and even washing machines — it's smart to play it safe. Know what's connected and protect yourself. 

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!

Ideally, when you list your property for sale, you want your entire home staged well. That way, you’ll maximize its appeal to buyers. However, that’s not always possible. So, if you can’t stage everything, focus your energy on those rooms that will have the biggest impact. Here are the rooms buyers tend to scrutinize most:

• The kitchen. Buyers almost always remember the kitchen when they see a home. They either love it or hate it. So, making your kitchen look great is crucial. Make sure it’s clean and uncluttered. A cleared countertop with only a few carefully selected decorative items and a beautifully set kitchen table can have a big impact.

• The living room. People spend a lot of time in the living room, so it’s not surprising that buyers take a close look at this space. Make it seem as spacious and comfortable as possible. The lighting should be soft and pleasant. Professional stagers say putting some books on a table will help set the right mood.

• The master bedroom. This room should, obviously, look uncluttered and warm. If there is an adjoining ensuite, consider it an extension of the same space. The bed should be made to look as welcoming as a nice hotel room bed. A throw and some decorative pillows could make a big difference. The closet – a clutter magnet in most homes – should be as neat and organized as possible.

• The foyer. Don’t underestimate the importance of this space. It’s the first thing buyers see when entering your home. Clear away items, such as shoes, to make the foyer seem open and inviting.

As you can see, it doesn’t take much to make your home look attractive to buyers. When rooms are staged well, buyers tend to form a more positive impression and, as a result, you’re more likely to get a good offer.

Staging is a proven method of enhancing the appeal of your home. In some cases, it will not only help sell your home faster, but also result in a higher price. But there is a continuum to staging that you will need to consider.

At one end of the continuum is simple staging, which involves cleaning and decluttering, making some simple improvements, and possibly rearranging furniture in a way that boosts the appeal of each room. That kind of staging is relatively easy and affordable.

On the other end is “showroom style” staging. In this scenario, your home is analyzed by a professional stager, who redecorates to make sure each room looks spacious and attractive – like a showroom in an upscale furniture store.

So where on the continuum should you be when selling your home?

For the most part, that depends on the demand for your listing. If buyers will be clamouring to buy your home, then simple staging might be enough. However, if you’re selling in a competitive market, then more comprehensive staging will give you an edge.

Here's a surprising statistic. Less than 30% of window replacements are the result of the old windows being worn, broken or otherwise in need of replacement.

Clearly, there are other good reasons to consider new windows!

One of the most popular motivations is cosmetic. Brand new windows have a huge impact on the overall look of a home, both on the inside and the outside. New windows can improve curb appeal — an important element when you sell a home. From the inside, new windows can dramatically improve the look of a room.

Another reason to replace windows is to address energy costs. Modern windows are packed with technologies that lower heating/cooling bills. From low-e/argon to special spacer bars to high-insulating construction, these technologies can provide savings you'll notice, especially if you're replacing very old windows.

A third reason is window style and characteristics. Simply put, you may not like your current windows! You may want more glass and less frame to enhance your view. Maybe your windows pull up (vertical sliders) when you'd rather have them open like a door (casements). Perhaps you'd like fancy blinds in-between the panes of glass. Replacing windows lets you get exactly the look and features you want.

Will new windows boost the resale value of your home? They might, at least a little. But there's one thing for certain: upgraded windows definitely make your home look more appealing to buyers.

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.

On moving day, you'll have a big task. You’ll need to get your possessions from your old property to your new one — ideally without delays or damage! Surprisingly, many people underestimate the time and costs involved in doing that. Careful planning and budgeting are crucial to ensuring moving day goes smoothly. You basically have three options:

1. Hire a moving company to handle everything.

2. Hire a truck and crew, while doing some of the work yourself. For example, you can pack and help with loading.

3. Do it all yourself by renting a moving van and getting friends and family to help.

If you're going with option one, get quotations as early in the buying/selling process as possible. Services, costs and quality vary widely among full- service moving companies.

If you're going to do some or all of the move yourself, the best place to start is by making a list of what you'll need. In addition to renting a moving van, or hiring a truck and crew, there are many supplies you may require. For example, you’ll need boxes, protective fill and/or wrapping (i.e. bubble wrap), markers for labeling boxes, packing tape, and more.

You may decide to rely on friends to help load the truck on moving day. That's fine. Just be sure you have enough people to do the job within a reasonable timeframe, and confirm everyone's attendance at least a couple of days before.

Imagine driving through a desirable neighbourhood and, just as you turn a corner, you see the absolutely perfect home. Guess what? It's for sale! But, there’s a problem. Your current property isn't on the market. In fact, until this moment, you hadn’t seriously considered moving.

So what do you do?

Your first step is to find out more about the listing. Get a description of the property. Find out the listing price. Check out the size, layout, number of bedrooms and other features. If it all looks good, schedule a viewing.

Chances are, you can do all that in less than a day.

If you go to see the property and still love it, your next step is to determine if it fits within your budget. To do that, you'll need to quickly find out the Current Market Value of your home — what it will likely sell for — so you can determine how much money you'll have available after your outstanding mortgage and any other costs are deducted. It’s a smart idea to speak to your lender about getting a pre-approved mortgage at this point too.

Next, you'll need to make an offer on the new home. Depending on the competitiveness of the neighbourhood, and the likelihood of multiple offers, you might need to list your home first. That, along with a pre-approved mortgage, will make your offer more credible.

You might end up buying the new home before your current property sells. Although that might cause some jitters, this scenario happens all the time in real estate. If you do the right things, and prepare your home properly, there's a good probability it will sell in time and that everything else regarding the two transactions will go smoothly.

But, you do need to move quickly and make some fast decisions if you want to get that perfect home.
I can help. Call me.

You've probably heard the expression, "The early-bird gets the worm." It refers, of course, to those who get in early and reap the rewards. For example, if you arrive early to a retail store for a big blowout sale, you're likely to get the deals before the inventory runs out. The stragglers who come later miss out.

Well, this same wisdom can be applied to selling your home. Starting the process early — even if that means simply doing some initial planning — gives you the edge in several ways.

First of all, you get extra time for preparation. That means you can get your home cleaned, uncluttered and staged without feeling rushed. You also get more time to find out how much your property will likely sell for on today's market. That's important information, especially if you're also looking to finance a new home.

Secondly, there's less stress. You'll have more time to make the right decisions. The last thing you want is to be scrambling around, last minute, trying to get your home ready for sale.

Finally, with your initial preparations done, you'll be able to put your home on the market at a moment's notice. That's a huge advantage that's likely to lead to selling your property more quickly and for the best price.

In fact, by getting an early start on the process, you might even find that right now is the best time to list -- and you'll be able to do so, with confidence.

Want help getting an early start on selling your home? Call me.