While it generally is a good idea to avoid a bidding war, to help save the buyer money. There are some ways to help to not only help a buyer win a bidding war but also minimize the financial toll. When making a purchase offer it is important for buyers to understand the local market. By researching how much comparable homes are in the area are selling for, buyers can help get a sense of how much they will be spending on a home. While there is some wiggle room when it comes to the price, buyers should try ...
Minimize the Cost of Bidding Wars
May 6, 2018
April 25, 2018
What are Accelerated Payments? Accelerated payments are mortgage payments that are increased slightly to help you pay off your mortgage faster. There are two types of common accelerated payments: biweekly and weekly. Bi-weekly is the more common choice, as it matches with pay dates more often than weekly. How it works An accelerated payment works by increasing your weekly or biweekly payments by a specific amount that would have you pay one full month’s payment extra per year. This is a great way to start paying off your mortgage, but when it comes to the interest on your ...
5 Tips For a Spring Sale
April 23, 2018
Here are 5 things homes sellers can do to take advantage of the spring real estate market. Spring Clean If you haven’t already started spring cleaning, now is the perfect time to start. When it comes time to start showing off your home to potential buyers, it should be clean and free of clutter. There is nothing more off-putting than a home that is not exactly clean. Note: if you have a pet, b3e extra vigilante as you may have gotten use to the smell of your furry friend, but pet odours can be a deterrent when it ...
Cottage Country in Your Backyard
April 4, 2018
Don’t have the budget to buy a recreational home? No problem! Creating a backyard oasis will help to expand your living space and help to provide with a getaway in your own backyard. A lot of savvy homeowners are now creating an outdoor living room just outside of their own backdoor. One of the biggest advantages of this is that there is zero travel time to get to your new staycation spot. A great starting feature for your backyard cottage is a focal point with a water feature. This could be something like a hot tub, pool or pond ...
What to Look For When Buying Your First Home
March 8, 2018
Buying your first home is an exciting part of an individual’s life. Making sure that your first home is a good investment can also secure your financial position in the future. Home seekers should consider these points when looking for their first home: Fairly Priced Finding the right home at the right price is anyone’s dream! You will have to do a significant amount of searching to find the perfect place. One of the best things to know is how much you can afford and how big of a mortgage is available to you at a good rate. Prequalifying ...
Buying a New Home vs. Buying an Existing Home
February 26, 2018
If you are planning on investing in real estate, then you have two main options: buy an existing home or buy a new home. An existing home is a home that has already been lived in before, while a new home is a house that has just been constructed and never lived in, though this also refers to homes that are in the preconstruction phase as well. So, when it comes to choosing between the two, here are some advantages and disadvantages of each. Customization Options for New Homes If you decide to buy a home that is still ...
5 Advantages of Mortgage Pre-approval
February 12, 2018
While mortgage pre-approval is not mandatory, it is something that is strongly recommended when it comes to buying a home, especially with first time home buyers. It offers several advantages that can save time and money. Know Your Borrowing Capacity Mortgage pre-approval is a confirmation by a lender that indicates the maximum amount that they agree, under certain conditions, to lend you for the purchase of a home. This allows you to know how much money you can borrow right from the outset. Plan Your Monthly Payments By first knowing your borrowing capacity, you can then determine what ...
January 2018 Real Estate Market Update
February 7, 2018
London and the St. Thomas Association of REALTORS have announced that 400 homes were sold during the month of January. This number is down by 28.8 % over the same period last year. There were 623 new home listings, down 31.8% from last January, and there were 1,020 active listings, down 27.7% from this time last year. However, January is typically a slow month when it comes to home sales. One of the factors affecting home sales is also the lack of inventory and how it remains low during the first month of the year. Average home sales ...
8 Tips to Start the Home-Buying Process
January 31, 2018
Start Budgeting If you are starting to become serious about buying a home the first step you should take is to start with your financial budget. You should start with creating a list of your monthly and annual expenses. Now compare this amount to your annual income and the money that is left over should start going towards your home purchase plans. Pay Down Your Debt If you carry any outstanding debt like a credit card or a student loan it is best to start to pay it off. Why? This is due to the fact that lenders do ...
8 Reasons to Work with a Real Estate Broker
January 24, 2018
When it comes to buying or selling a home there are several good reasons to hire a real estate broker. Here are 10 that you will want to consider: Buy or Sell at Fair Price Brokers have access to the latest technology and latest market statistics, this allows them to do a comparative market analysis. If you are a buyer or a seller, this means that you are getting a fair market price for your property. Benefit from the Broker’s Understanding of Legal Documents and Procedures Your broker will help out and guide you through the steps to ...