A total of 619 properties sold in the Victoria Real Estate Board region this October, 3.5 per cent more than the 598 properties sold in October 2018 and a 0.5 per cent increase from September 2019. Sales of condominiums were down 1.1 per cent from October 2018 with 178 units sold. Sales of single family homes increased 10 per cent from October 2018 with 318 sold.
“This month’s overall numbers are very similar to the numbers we saw last year," says Victoria Real Estate Board President Cheryl Woolley. “It’s interesting that last month we saw a large uptick in condo sales, but this month is fairly flat when compared to last year. This shows that we are not yet seeing a trend in property types.”
There were 2,643 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2019, a decrease of 6.4 per cent compared to the month of September, but a 5.3 per cent increase from the 2,510 active listings for sale at the end of October 2018.
“There has been a slight increase in our inventory from October last year,” adds Woolley. “The current inventory is likely not enough for home buyers to feel they have a lot more to choose from - which in turn puts pressure on pricing for homes in desirable locations and price points. It’s not uncommon to see multiple offers in many of our market segments. Your local Realtor will be able to help you understand the intricacies of our current market and what you can expect at the time you decide to buy or sell a home."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2018 was $878,900. The benchmark value for the same home in October 2019 decreased by 2.4 per cent to $857,700, slightly more than September’s value of $846,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in October 2018 was $503,200, while the benchmark value for the same condominium in October 2019 increased by 1.7 per cent to $511,600, the same as September’s value.
You've heard of the term "curb appeal". It refers to the initial impression buyers get when they first see your property from the street. If the impression is a good one, it sets the right tone for the rest of the home viewing.
How do you boost curb appeal? Here are some proven ideas that you can get done in an hour or so:
• Wash both the inside and outside of the front windows. You'll be amazed at the difference that can make.
• Sweep the walkway leading up to the front entrance. Add a new welcome mat. Also, wash down the front door.
• If possible, remove cars from the driveway. Let buyers imagine their own cars parked there!
• Mow the lawn. Lightly trim the hedges. Weed flower beds.
• Remove anything from inside window sills that may look unsightly from the outside. Try putting a couple of flowering plants there instead.
• Place any trash bins out-of-sight. For example, put them in the garage or neatly at the side of the house.
• If the entrance door hardware is old and worn, change it. New hardware can make a bigger difference than you might think.
• Make sure the outdoor lights are working, especially if you're showing your home in the evening.
• Add some flowering plants to flower beds, or buy a couple of portable potted plants and place them strategically.
• Clean your mailbox. If it’s rusted, replace it.
• If you have a power washer, give the walkway and driveway a quick blast. Just be sure it will be dry before the buyers arrive.
These one-hour improvements may seem minor, but anything that helps buyers form a more positive first impression of your home is worth the effort.
Outdoor lighting has come a long way from the days of patio lanterns and
strings of lightbulbs. These days, there's an exhaustive array of options
available to illuminate your outdoor space, and make it more appealing and
comfortable, particularly in the evenings.
Here are just a few ideas:
• Solar garden lights. These lights are on stakes that can be easily inserted throughout the garden. Powered by the sun, they generate enough energy to cast a soft, pleasant glow along walkways or in flower beds in the evenings.
• Deck post lights. These are easy to install because they're designed to sit on top of a standard 4x4 wood deck post. Most are solar powered.
• Street-style lamps. As the name implies, these look similar to old fashioned street lamps. Installation is a little more complex, but still DIY-friendly. They're eye-catching and have a dramatic impact on the look of your outdoor space.
• Portable lantern lights. These are outdoor lights that are portable and often made to look like a decorative fixture for a coffee table or side table. They can be placed anywhere.
• LED walkway lights. These are small lights that fit neatly and almost invisibly under stairs and around walkways. Walkway lights not only look good but also improve safety. Most are battery powered.
• Planter lights. This is one of the most interesting options. Each one is both a flower pot and a light in one! The pot itself is translucent which allows the light inside to shine through.
Design experts say you should treat your outdoor space as you would any
room in your home. Lighting it up for evening comfort and enjoyment is a
good place to start.
A total of 616 properties sold in the Victoria Real Estate Board region this September, 15.6 per cent more than the 533 properties sold in September 2018 but a 6.8 per cent decrease from August 2019. Sales of condominiums were up 48.3 per cent from September 2018 with 221 units sold. Sales of single family homes decreased 1.1 per cent from September 2018 with 282 sold.
“September's statistics clearly demonstrate that Victoria continues to have a stable real estate sector and is a desirable place to live," says Victoria Real Estate Board President Cheryl Woolley. “While sales are up compared to the same month last year, our inventory remains low, which may create challenges for people trying to get into the market in certain categories.”
There were 2,823 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2019, a decrease of 0.5 per cent compared to the month of August but a 6.7 per cent increase from the 2,646 active listings for sale at the end of September 2018.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2018 was $878,500. The benchmark value for the same home in September 2019 decreased by 3.6 per cent to $846,500, slightly less than August’s value of $847,300.
The MLS® HPI benchmark value for a condominium in the Victoria Core area in September 2018 was $503,600, while the benchmark value for the same condominium in September 2019 increased by 1.6 per cent to $511,600, lower than August's value of $518,100.
“We saw increased activity in the condo and townhouse market with an almost 50 per cent year-over year sales increase in condos,” adds President Woolley. “It may be too early to call this a trend towards condo purchases, but this is a number to watch through the fall to see if buyers continue opting for condos and townhomes as more new developments are added to the market in highly desirable locations, with price points often lower than a single family home.”
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.
A total of 661 properties sold in the Victoria Real Estate Board region this August, 11.3 per cent more than the 594 properties sold in August 2018 but a 6.4 per cent decrease from July 2019. Sales of condominiums were up 4.1 per cent from August 2018 with 203 units sold. Sales of single family homes increased 15.5 per cent from August 2018 with 351 sold.
“August could be considered a status quo month for real estate in greater Victoria with entry-level homes selling quickly when priced appropriately, and higher-end properties moving at a slower pace," says Victoria Real Estate Board President Cheryl Woolley. “As expected, we’ve seen relatively stable pricing, with an uptick in sales – particularly single family homes. Unfortunately, summer has been accompanied with a slowing of new inventory coming onto the market, which suggests it is a good time for prospective sellers to consult with their REALTOR® about selling in the fall market.”
There were 2,838 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of August 2019, a decrease of 3.8 per cent compared to the month of July but a 12.7 per cent increase from the 2,519 active listings for sale at the end of August 2018.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in August 2018 was $888,100. The benchmark value for the same home in August 2019 decreased by 4.6 per cent to $847,300, slightly less than July’s value of $858,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in August 2018 was $503,600, while the benchmark value for the same condominium in August 2019 increased by 2.9 per cent to $518,100, lower than July's value of $523,400.
“This month the federal government opened its First Time Home Buyer Incentive program,” adds President Woolley. “We’re pleased the government is looking at creative ways to get first time buyers into homes as this program will help some buyers in Canada's smaller markets. We look forward to hearing how the federal government plans to help first time buyers in larger markets like Victoria, perhaps by adjusting the mortgage stress test parameters and extending the length of mortgage amortizations.”
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
• Narrow the project focus. If you're getting a bathroom renovated, for
example, decide whether you need the contractor to 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 or at least avoid any markup the contractor
• 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 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.
A total of 706 properties sold in the Victoria Real Estate Board region this July, 8.4 per cent more than the 651 properties sold in July 2018 but a 4.6 per cent decrease from June 2019. Sales of condominiums were up 14.4 per cent from July 2018 with 215 units sold. Sales of single family homes increased 2.1 per cent from July 2018 with 347 sold.
“It’s not surprising to see the numbers trending slightly upwards compared to last year as the market slowly adjusts to government changes like the B20 mortgage stress test and the continuing low mortgage interest rates," says Victoria Real Estate Board President Cheryl Woolley. “Activity feels more normal now - more like before the real estate market in Greater Victoria saw the huge uptick in 2016 and 2017. It is a good time to buy and sell as consumers have more time to work with their REALTORS® and make decisions. We’ve seen a little more inventory added to the market compared to last year, which means more choice for buyers.”
There were 2,949 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2019, a decrease of 3 per cent compared to the month of June but a 13.1 per cent increase from the 2,607 active listings for sale at the end of July 2018.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July 2018 was $889,200. The benchmark value for the same home in July 2019 decreased by 3.4 per cent to $858,800, slightly less than June’s value of $859,600. The MLS® HPI benchmark value for a condominium in the Victoria Core area in July 2018 was $508,300, while the benchmark value for the same condominium in July 2019 increased by 3 per cent to $523,400, lower than June's value of $524,100.
“July's statistics show that our region’s housing market continues to be fairly active, despite many people being in summer vacation mode,” adds President Woolley. “Realtors continue to report strong interest in entry level homes as well as properties that are competitively priced. High end home pricing is softer, but $1.5 million dollar plus homes account for only 4.6 per cent of the total market.”
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.
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 preapproval. 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.
A total of 740 properties sold in the Victoria Real Estate Board region this June, 4.5 per cent more than the 708 properties sold in June 2018 but a 12.7 per cent decrease from May 2019. Sales of condominiums were down 6.1 per cent from June 2018 with 216 units sold. Sales of single family homes increased 10.4 per cent from June 2018 with 394 sold.
“June has trended lower than May for the past few years and tends to signal the end of the active spring market," says Victoria Real Estate Board President Cheryl Woolley. “The summer months of July and August generally see less activity than the spring, as people’s attention shifts to vacation and away from real estate. This year, we have seen slightly more sales compared to June of last year. We have also seen one hundred fewer new listings enter the market this year, which continues to make a challenging market for buyers who are hoping for more options.”
There were 3,040 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of June 2019, an increase of less than one per cent compared to the month of May and a 17.1 per cent increase from the 2,595 active listings for sale at the end of June 2018. The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in June 2018 was $898,500. The benchmark value for the same home in June 2019 decreased by 4.3 per cent to $859,600, slightly less than May’s value of $860,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in June 2018 was $509,000, while the benchmark value for the same condominium in June 2019 increased by 2.97 per cent to $524,100, higher than May's value of $519,300.
“It is possible that some buyers are waiting for the federal government’s new first-time home buyer incentive to roll out this September,” adds President Woolley. “The program is intended to assist first time buyers with their down payment. It’s hard to estimate how many local buyers may take advantage of the incentive, but because of the low threshold for maximum purchase price, the program may only help those in our area who seek to buy condos. This could mean a slight uplift in lower priced properties in the fall, if more buyers are enabled to enter the market. If you are interested in exploring options and strategies for either buying or selling, it would be a good time to connect with a local REALTOR®, who has the expertise necessary to navigate today's market conditions, neighbourhoods and property types.”
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.
A total of 848 properties sold in the Victoria Real Estate Board region this May, 12.3 per cent more than the 755 properties sold in May 2018 and a 21.8 per cent increase from April 2019. Sales of condominiums were up 3 per cent from May 2018 with 244 units sold and were up from April 2019 by 20.2 per cent. Sales of single family homes were up 9.6 per cent from May 2018 with 445 sold.
“We are seeing lower activity than we have experienced in recent years for spring home sales," says Victoria Real Estate Board President Cheryl Woolley. “Of course, this is not surprising given consumers are impacted by the B20 mortgage stress test, as well as ongoing lower inventory levels. Despite this, we have seen an increase in May for sales over last year. Prices remain strong in the lower price ranges, with little change in our benchmark prices when compared to last year.”
There were 3,019 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2019, an increase of 9.7 per cent compared to the month of April and a 26.1 per cent increase from the 2,394 active listings for sale at the end of May 2018.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in May 2018 was $886,200. The benchmark value for the same home in May 2019 decreased by 2.9 per cent to $860,800, higher than April’s value of $843,500. The MLS® HPI benchmark value for a condominium in the Victoria Core area in May 2018 was $506,100, while the benchmark value for the same condominium in May 2019 increased by 2.6 per cent to $519,300, higher than April's value of $512,700.
“May sales have ranged from a high of 1,289 in 2016 to a low of 441 in 1990, which is the year our detailed records began,” adds President Woolley. “This month with 848 sales we are very close to the ten year average for overall sales in May, which is 813 properties. We are off from the ten year average in May for active listings, which is 3,838, with 3,019 active listings last month. The lowest number we’ve tracked is from 2017, when May of that year saw 1,896 active listings. Though we’re not at an all-time low in terms of active listings, anything new and desirable coming into the market that is appropriately priced can sell quickly and we still see multiple offers in these situations. According to established sales to listing ratios, we are in a more balanced market than in previous years, but it is a complicated market to navigate. If you’re considering buying or selling, it’s a good time to connect with your local REALTOR® to discuss the market and your best approach.”
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.
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.
It can be tough to make the decision to sell. In fact, for many homeowners, it's overwhelming. If you're considering making a move and struggling with the decision, here are five helpful questions to ask yourselves:
1. "What are our practical reasons for selling?"
This question refers to what you'll get by moving to a new home. The reasons could include a bigger backyard, shorter commute to work, an extra bedroom, a more desirable neighbourhood, etc.
2. "What are our emotional reasons for selling?"
This question refers to how you'll feel about living in a new home. For example, you might feel safer, less cramped, less worried (because the local schools are better), or happier (because the shorter commute means more time with your family.)
3. "What type of new home can we afford?"
This question involves finding out how much you'll likely get when you sell your existing home and how much of a mortgage you qualify to receive. With that information, you'll have a price range within which you can comfortably shop plus a clear idea of what your mortgage payments will be.
4. "In what ways will our lifestyle be better in a new home?"
This ties in closely with emotional reasons for selling. It relates to what your life will be like in a new home. Try to paint a picture in your mind. For example, you might want to be able to spend Saturday afternoons relaxing in your bigger backyard or Sunday nights entertaining friends and family in your larger living room.
5. "What else do we need to know before we decide to sell and move?"
Sometimes people are hesitant about selling simply because they have unanswered questions.So, if there's any part of the selling and buying process that’s not clear, be sure to ask me.
Did thinking about these questions help make the decision easier? If you need more help or want to talk about your decision, call today!
A total of 696 properties sold in the Victoria Real Estate Board region this April, 10 per cent fewer than the 774 properties sold in April 2018 but an 8.8 per cent increase from March 2019. Sales of condominiums were down 9.8 per cent from April 2018 with 203 units sold but were up from March 2019 by 3.6 per cent. Sales of single family homes were down 12 per cent from April 2018 with 369 sold.
"Spring has been a non-traditional real estate market thus far,” says Victoria Real Estate Board President Cheryl Woolley. “Consumer purchasing power continues to be negatively impacted by the B20 mortgage stress test, causing many buyers to step back while they save more money for a down payment.”
There were 2,751 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of April 2019, an increase of 13 per cent compared to the month of March and a 37.4 per cent increase from the 2,002 active listings for sale at the end of April 2018.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in April 2018 was $874,800. The benchmark value for the same home in April 2019 decreased by 3.4 per cent to $845,100, higher than March’s value of $843,600. The MLS® HPI benchmark value for a condominium in the Victoria Core area in April 2018 was $506,900, while the benchmark value for the same condominium in April 2019 increased by 1 per cent to $511,700, higher than March's value of $506,500.
“Prices have remained reasonably flat across the region and are expected to stay that way,” adds President Woolley. “Presently, REALTORS® are busy showing homes and bringing new listings to the market, but with few new options to view, we are still seeing multiple offer situations when that right property does become available. Given the current dynamic and evolving market conditions, it’s a good time to chat with your Realtor about a personal plan for buying or selling a property.”
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.
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 fullservice 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.
Ideally, you would like buyers to wait until they’ve viewed your whole property before they judge it. However, the reality is, buyers start forming an impression of your home as soon as they see it from the curb. So, it pays to do everything you can to improve your property's "curb appeal".
Here are some ideas:
- You can improve the impact of your landscaping by trimming hedges, removing any unsightly weeds, and cutting the grass. Planting just a few fresh flowers can make a big impact.
- If your main entrance door is old, a fresh coat of paint will make it
look like new. In some cases, the effect is significant.
- Remove any items that might distract the buyer from forming a good
first impression. For example, garbage cans, stored items along the
side of the property, etc.
- Make sure the curtains and blinds on your front windows are open
during viewings. That will make your home look more friendly and
- If your driveway has grease stains and other blemishes, consider
renting a power washer and giving the driveway a thorough cleaning.
- Clean your front windows. If possible, also clean the exterior panes.
- Finally, if possible, park your vehicles on the street and away from your home. Doing this will not only make your home look more inviting to buyers, it will give them a convenient place to park.
Most of these tips can be done in less than a day. Yet, they can make a big difference in your home's curb appeal. They are worth the effort!