Mark Twain famously said, “buy land, they’re not making it anymore.” This sentiment has been the driving force behind people who successfully flip a home for a profit. While it can be a good way to earn money on an investment, there are also some items to consider to avoid losing money.

Getting the right property, correctly estimating repair costs and sales price, and lining up the financing for the purchase and renovation are all vital to making sure this kind of investment is profitable.

Finding the right fixer upper

For people that want to flip a home, it is very important to understand that buying a home at a price which will allow a profit is the most important factor. Paying too much to acquire the property is a common error made by new investors.

Homes that are typically ripe for flipping are well priced, structurally sound homes in desirable locations that need modern updates.

Location, sought after features (such as number of bedrooms and bathrooms) and price point should be your top priorities when searching for a property within your budget.

Do the math

Buyers need to look at 3 things; initial purchase price, renovation, or repair costs, expected sales price.

It goes without saying; the purchase price needs to be as low as possible. Talk to your real estate agent and discuss if the home is aggressively priced for the current condition or if the owners may be willing to negotiate a lower price than the advertised sale amount. If the current owners are simply holding on to the property in hopes of getting full price, it may be a waste of time to try and get a better price.

Realistically Estimating the Costs of Purchasing a Fixer-Upper Is Important

The repair and renovation costs can be tricky. A buyer must make sure that the offer includes a thorough home inspection prior to closing on the deal. This will allow the buyer the chance to hire an inspector and determine exactly what is wrong with the home and get written estimates on the repairs. Overestimating the repairs and renovations can also insure that the deal will still be profitable.

Finally, the expected sales price needs to be realistic. In order to get an idea of a good price, your experienced real estate agent who has worked extensively in the area will give you an estimate of an expected sale price based on current market conditions and recent sales prices of similar homes in the area with an expected sales price after your renovation has been completed.

Getting the money for your fixer upper

Acquiring the money needed to buy the home and pay for the repairs can be challenging. BEFORE you start your search discuss your plans to flip a home with your mortgage specialist to ensure that you can not only purchase the property but can pay for the necessary repairs.   

Purchase price plus identified renovation costs (repairs may include replacing the cooling & heating system, replacing the roof and gutters, adding new windows and doors, repairing, or replacing the flooring, light fixtures, or upgrading the kitchen or bathrooms)

Be sure not to "over renovate" for the location, size and price range of the home. The quality of your finishings should stay in line with the price range you will be selling in. If it is an entry level home, you may want to install laminate counter tops instead of granite and vinyl flooring instead of hardwood. HIgh end finishing when it isn't required is one of the fastest wayto blow your renovation budget.

The estimated value of the home after repair

Summing up how to purchase and renovate a fixer upper at a profit

With a realistic approach, and good financing, buying a home to flip it is a viable way to make profits in real estate. It takes good planning and working with a qualified mortgage lender, experienced contractors and a knowledgeable real estate agent that can provide the right guidance for an investor.

When a home listed for sale expires off of the market without so much as an offer there are a number of common reasons as to why that happened.  Some of the causes of having an unsold home are the responsibility of the real estate agent if there is one involved.  Other aspects of selling a home are done in coordination with the real estate agent but is the primary responsibility of the home seller (insisting on setting the listing price too high for example).  If a home seller still has in mind the goal of selling their home this list of six common reasons why a home does not sell will help home sellers get back on track and get their home sold.

1.  Pricing

Overpricing is one of the main reasons a house will not sell.  Homebuyers are looking to get the best value for their money when buying a home and go in fully informed with regards to home prices and features.  Regardless of how many upgrades, add-on features a home has if the price is not in line with other homes in the neighborhood it will not sell.

Many neighborhoods have a tendency to have similar houses, similar quality and design.  If one house in the neighborhood has been upgraded that does not necessarily mean it will be able get a premium price for that neighborhood.  The upgraded home may be sold for a little more money than other non-upgraded homes in the neighborhood but it will not be that much more.  The average price of a home in the neighborhood becomes a point where any home priced higher must show the true value through upgrades in order to entice a buyer to make an offer. 

Initially buyers will be looking at a home location, bedroom/bathroom count, square footage, and amount of yard space.  Families with children may also consider school districts, proximity to parks, shopping and more.  Once buyers find minimum criteria for a home in their price range homes with additional amenities might sway them more towards making an offer but only if those amenities do not represent a significant price premium that will not fit within their budget.

The best way to obtain accurate pricing for selling a home is through a Comparative Market Analysis (CMA) which compares recently sold homes that are similar in size, features and location to the home which is to be sold.  Other factors such as home condition, age of the mechanical systems and more should be taken into account when setting a listing price.  A home with a less than five year old heating and cooling system will obviously have a price advantage over a home that still has its original 25 year old gas furnace with only window air conditioning units.  Home sellers need to price their home properly according to home condition and similar recently sold homes.  Home sellers also need to be ready to adjust the price as buyer feedback comes in regarding the home’s condition and pricing.

2. Marketing

With pricing of a home being one of the major marketing factors, if that is done right and a home did not sell then the home seller should consider whether the marketing was as effective as it could have been. Over 90% of home buying begins online and the marketing must be most effective here.  Appealing high quality photos and videos should be taken of the home in order to provide the best presentation online.  Prior to taking photos and/or videos the home must look great so that the pictures look great.  If high quality cameras are not being used to capture key rooms and features of the home, homebuyers will not be drawn in and definitely not want to visit the house in person.  Lack of interior and exterior pictures send the message that there is something to hide in the home.  Blurry, dark, unfocused pictures are eye catching for the wrong reasons and will hurt the marketing presentation of a home.

The days of putting a sign in the front yard of a home and listing some information on a few internet websites is LONG gone and not a  marketing plan.  The idea for home marketing should be to get the home in front of as many relevant internet homebuyers as possible so the right buyer is aware of the home.  Blasting a home for sale around the world is also not helpful since a majority of your buyers already live close by to your home.  Targeted advertising through Google, Facebook, Instagram, linked in and more should be part of the marketing strategy for selling a home.  Is your agent using the full power of the Internet to continuously market your home to the right buyer so they are ready to come in and visit in person?  If not then this is an easy way for your home to slip through the cracks and never receive any offers.

3.  Show Ready Home.

A show ready home means the home is properly cleaned up and prepared so that when homebuyers come through they can see themselves living in the home.  If a home has custom collections, personal pictures, unique decorations or unique paint colors/wallpaper on the walls that will serve more as a distraction for homebuyers, these itmes need to be taken down and packed away so the home has more of a neutral appearance.  Non-traditional colors for walls should be repainted in neutral colors or if outdated wallpaper is present the wallpaper should be removed and replaced with neutral paint.

While no home is expected to be perfect, plans should be made as to how to quickly clean up a home so that when buyers do come by the home it is presentable.  Clutter should be packed away so as to not make closets or storage areas look small and cramped.  Any minor repair issues in a home should be addressed before the home is put up for sale.  Odors/stains from pets and cooking should be cleaned up and eliminated.   Also consider removing items not used every day and box them up in storage or in a relative’s basement to help reduce clutter.

Exterior curb appeal also plays into the decision making process for buyers.  Mowed lawn, leaves cleaned, fresh mulch, nice flowers go a long way towards saying the homeowner took care of their house.  The curb appeal will draw buyers in from the very first picture online and at the very first visit so landscape maintenance must be kept up at all times.

4.  Access and Showings.

 If the buyer saw 6 homes that day and was not able to see yours, your unseen home never comes into their thinking when considering which house to make an offer on. The inconvenience of having to clean a home up for a showing is far outweighed by the inconvenience of having a home on the market longer and for more showings because a potential buyer who would have made an offer never got to see the home.  Additionally the longer a home stays on the market the more likely a price reduction will be needed in order to get it sold.

During showings all people and pets should leave the home.  While it is not always possible to take pets out of the house during showings, putting the pets in their rooms, kennels or other areas out of the way of homebuyers will help.  Best would be to remove all signs of pets possible so that way homebuyers don’t imagine smells that are not necessarily there.

5.  Communication.

Communication is critical in the home selling and buying process. Your real estate agent needs to timely communicate to you any requests to view the home or buyer questions that may come up. Home sellers should get back to their real estate agent as soon as possible. Questions from the buyer left hanging can cause them to move onto one of their other home options since they don’t have enough information to make a decision on the house they had a question about.

Some offers on homes can come with short time frames to respond.  If it takes your Realtor more than 24 hours to forward you an offer that expires in 8 hours that deal just expired before a chance was had to look at it.  By working with a professional real estate agent who returns phone calls and emails effectively there is less chance of an offer slipping through the cracks.  Slow communications by anyone involved in the home selling and buying process is a deal killer.

6.  Motivation.

While this is the last area listed it can also be the number one source of your home not selling since if motivation is lacking rest of the points above don’t really matter. What is the motivation to sell the home?  Are those motivations still valid? By reviewing the reasons for wanting to sell a house and then re-affirming that commitment can put a home sale back on track and allow focus to be put on any other areas that need addressing.  With proper motivation and understanding the goals for wanting to sell a home, home sellers will set themselves up for success.

Often times when a seller says “We don’t HAVE to sell the home” they have just taken the first step to killing their chances of selling with their lack of motivation. Once you phone your real estate agent and list your home for sale, commit to the sale and see it through to the end.

Bottom Line

While the stress and tension of selling a home can be high, having a home expire off the market without any offers can make one question why they are involved in the process in the first place.  Pricing and marketing are some of the critical areas where if done wrong or not done at all are sure to be the cause of failure for a home sale.  The other areas noted as well are important to pay attention to as small slips in one area can jeopardize the whole sale causing one to have to start over again.

The Pros of Renting

Ease of Movement

When you rent a home, you are free to move on as soon as your lease is expired or you’ve given proper notice. This is one of the most common reasons for renting a home, rather than buying. If you are unsure of how long you will be living in an area, renting is usually your best option. Selling a home can take time, so it makes sense to buy a home when you are sure that you want to stay in the home for a few years. This allows you to build up equity and make money when you sell, which you cannot do when you rent.

No Property Tax

For many homeowners, next to their mortgage payment, property taxes are the second highest cost of owning a home with fire and property insurance being a close third for expenses. These are two costs that you do not have to pay when you rent a home…. or do you? It has often been said that the cost of property insurance and property taxes are enough to make people rent, rather than buy. But think about this, the landlord of the property that you rent is also paying property taxes and insurance. So, who is really paying for these? The tenant is! The cost of the tax and insurance are being passed on to the tenant and “included” in the price of rent. This means that tenants are unknowingly paying the taxes and insurance for their landlord, without the tax advantages of owning the home themselves.

No Maintenance

Over time, every home needs maintenance, and repairs. When you rent, the repairs are passed on to the landlord or property management company. This is one of the most popular reason to rent but, there are down sides to this as well. Some landlords are not very prompt or easy to work with which could have you waiting extended periods of time for repairs to be done or they don’t get done at all. However, if you have a good landlord, your maintenance worries are minimal.

The Pros of Buying

Make It Your Own

When you buy a home, you are free to paint, change fixtures and flooring, tear down walls, or even put up new walls. It’s your home and you can do whatever you want with it. When you rent, you are not allowed to remodel. Having the freedom to do what you want with your home is one of the greatest benefits of owning a home. A home is a place where we spend the bulk of our time, which is why we want it to reflect us and our design preferences.

No Payment Increases

When you agree to the terms of your mortgage, chances are that you will have a fixed rate. This means that your mortgage payment will not increase over the life of the loan allowing you to maintain a long-term budget. The security of knowing what your monthly payments will be over the next five or more years is very comforting whereas it’s likely your rental property will have a payment increase when the lease is resigned.

Build Equity

When you buy a home, a large portion of your payment goes straight to paying off your mortgage. Every time you make a payment, you earn equity in your home. As the value of your house increases, your mortgage goes down and your equity steadily rises.

When buying a home in an area that appreciates well, if you pay down your mortgage over 5 years, you will have a nice chuck of equity to use however you like. You can use your equity to move into a larger home, refinance, to buy an investment property, take out some cash for renovations or to pay off other debt, or leave it alone and let it grow. Essentially, buying a home is a forced savings plan where you will likely not be paying any more per month than you did when renting, however you are saving a good percentage of your payments to use down the road when needed.

The cons of Renting

Payment Increases

In Fort St John, rents have been steadily rising for years which is supported by the fact that our area has been consistently identified as one of the top investment markets in BC. This makes it hard to plan your long-term future finances when you don’t know what your rent payments are going to be year over year. Once a fixed term lease is expired, a landlord can raise the rent as high as they want. If you disagree to the new terms, you’ll need to find a new place to live, which brings the additional expense of reconnecting utilities, moving expenses and it is exhausting. The unknown future of rents can make tenants feel insecure and unsettled

Lease Deadline

When you sign a fixed term lease, it will have a deadline. Most leases are for a year. Once the lease is up, there is no guarantee that you will be able to renew. Perhaps the landlord will sell the rental property after a lease is expired to generate a hefty return on their initial investment. The future is uncertain when you are a renter, making long term life plans more difficult to plan.

No Equity

Every rent payment made goes straight to the land lord. You do not have any equity in the property. Knowing that every dollar of your rent is gone for good is hardest part of renting which is why tenants usually begin looking in to owning their own home. Imagine renting for 10 years at a conservative amount of $1000 per month. Over 10 years that will be a total of $120,000.00 paid that you will never see again. Compare the advantage of owning… At the same payment amount of $1000 per month with our current mortgage rates, a minimum of 1/3 of your monthly payments is applied to your principle and pays down your loan. Over a 10-year period you will have built an estimated $40,000.00 in equity all the while your payments remained the same as if you were renting.

The Cons of Buying a Home

Money For a Down Payment

When you buy a home, the mortgage company requires that you to put a certain amount of money into the deal as a down payment. This is a minimum of 5% of the cost of the home. There are down payment assistant programs and other mortgage options for those who qualify, so this is not always a con to owning a home. It is a misconception that all home buyers need 20% down. The best way to find out if you qualify for down payment assistance is to talk to a qualified mortgage lender and know your options

The Cost of Selling

Selling a home can be costly. If your home needs updates and repairs before selling, you’ll have to come up with the money to make those necessary improvements before you list the home for sale. Selling a home can be more stressful than buying a home. It requires planning and preparation with the help of your real estate agent to do it right and make the most amount of money when you sell. In addition to the legal fees associated with buying and selling a home, upon the sale of your home is when you pay your real estate agent. Take the time to discuss this in details with your realtor BEFORE you list your home for sale.

Responsibilities of Home Ownership

When you own a home, it is your responsibility to maintain the property. Whether it is regular services of the heating system, annual maintenance of the drains and gutters or maintenance of the landscaping these are your responsibilities. If the home needs necessary flooring updates, replacing old or windows or shingles, or a much-needed bathroom renovation, when you own the home the costs of these repairs also falls on you. Many home owners prefer this if they can fix problems themselves. This is referred to as “sweat equity” and it is a great way to pay yourself for your labor and expertise with the increased value to the property in the form of equity.

The Conclusion

Both renting and buying have their advantages and disadvantages. It really comes down to the stability of your living situation and income. If you have a stable career and you feel like you are going to be in your current city for a while, buying a home simply makes sense. If your life is up in the air and you don’t know what next year is going to bring, renting a home for the short term may be a better option. Buying a home costs less overall and builds your financial future. Renting a home is expensive over time and leaves you without any ownership or equity.

Taking the time to look at all the pros and cons of each option will help you plan your life and move in the direction that benefits you the most. If you plan to buy a home in the Fort St John area contact me, I have a ton of information that will help you to begin the process of buying your first home. Good luck and happy house hunting

Buying and selling homes should be lucrative and fun... sometimes it turns into a roller coaster ride that you didn't sign up for

When you're buying, or selling without a Realtor, you probably feel like you're doing a great job. You're using all the information available to you, whether that means searching homes for sale online or putting that for sale by owner sign in your yard! Either way, you are convinced you are saving on the commissions you would normally have to pay to an experienced realtor. Even when a realtor will save you more money, than you'll save by not paying commissions.

If you become one of the lucky few who finds a home, or sell yours, without an agent you'll have that ' I did it all by myself' feeling. It's admirable, and then it’ll hit you... what contract do I use? Once I go under contract what happens next? Are the negotiations in my favor? What are the legal ramifications if I fill out paperwork incorrectly? 

Oh, and the best part of all is that you would have saved more money using a realtor to buy and sell. So, let's talk about a few more reasons using a Real Estate Agent is to your benefit.

Expertise

Would you hire an attorney to remove your tonsils? Then why hire anyone but a professional to sell your home? Expertise matters. 

What are the best ways to market your home? Which neighborhoods are the fastest up and coming?

There is a zero percent chance I would be better at your job than you are, and the same goes for buying and selling real estate. We are experts in or field for a reason.  

When you're buying, and selling homes, hundreds of thousands of dollars are at stake. Being incorrect by just a few percentage points is equivalent to tens of thousands of dollars, and if you're the buyer, a fraction of a percentage point on interest rates does the same!

Realtors are experts who are there to hold your hand when buying and selling homes. It should be obvious to you that working with a Realtor is the best decision, our clients certainly feel that way.

Data

If you have ever bought and sold real estate before then you understand just how important it is to have access to accurate data and information.

If you don't have access to the local MLS, you need it. This is where you will find the most up to date, and accurate information on SOLD homes and neighborhoods.

If you're selling your home and trusting your property tax assessment as an accurate value, just know that it’s values are an inaccurate sale price 98% of the time. Don't risk leaving tens of thousands of dollars on the table just to try and save on the Realtor commissions. Not only are you saving less by not using a Realtor, you're subjecting yourself, to even more harm once you go under contract.

Negotiations

Once you are under contract do you know what is considered fair during negotiations? If you're buying a home do you know what to look for? One of the most important jobs an Agent has is to keep everything legal, fair, and their client's best interests protected.

One of the biggest mistakes you can make is buying a home without an agent. Are you checking the resale values in the neighborhood? The zoning of the surrounding area? Do you know the history of the home? Has it ever had a flood?  Imagine what else you may not be checking that could cause you to invest hundreds of thousands of dollars into a home that is a lemon. 

If you're selling a home without an Agent there's a good chance you will end up working with one anyway. 9 out of 10 buyers is working with a Realtor, so you're likely going to pay a commission. In this instance are you going to know how to handle the negotiations? Do you know what the language in the contract means?

There is a lot of things that can go wrong in a transaction, make sure you're protected both from a financial and legal standpoint!

Connections Real Estate Agents are well connected. They are surrounded by a community of professionals that works in synchrony when it comes to paperwork, mortgages, attorneys, home inspectors, and everything else that is involved in the buying and selling of a home.

One of the most important aspects of our job is the ability to network and connect with people in the community. This is great news for those of you working with an agent since there is a good chance they know of potential buyers and sellers for your home, even before you list it!

A lot of Realtors use their social media connections to spread the right message to a specific audience. Whether that means using their network of connections, or specific audiences in sponsored ads.

One of the many techniques we use to sell homes in Fort St John is market our listings to other Realtors. When you list your home with an agent we market it so that that every potential Realtor, who is working with a pre-approved buyer and looking for a home like yours, knows about it! This is one of the best techniques for getting the home sold fast and for top dollar!

Therapy

Buying and selling real estate can be a roller coaster ride of emotions, brace yourself.

Realtors® are there for you with every twist and turn that is going to occur in a real estate transaction. Can't find your home warranty information? No problem, your Realtor will be there to help you find. Situations like this happen more often than you think.

It's moments like these where a Realtor® can help you anticipate the future, calm your emotions, and use their resources to ensure a smooth transaction for you.

So, whether you are buying or selling, take the time to educate yourself on the roll that a real estate agent plays in the transaction and ask yourself if the possibility of saving money on their fees is worth the risk of so many things going wrong in your real estate transaction.

No matter the reason for your move whether it be a job transfer, you’ve outgrown your space, a divorce, you are looking to move to a different neighbourhood or you are downsizing… you’ll be moving soon and you have children. It is always best to involve the children in the moving process as early as possible. Whether they are young children or adolescents they typically aren’t thrilled with the idea of moving. Fortunately, there are steps that you can take to ease the transition, the foremost being your attitude about the move and willingness to let your children share in the experience

1)Have a family meeting – gather for a casual family meeting with lots of conversation. Tell your children why you are excited about the move and encourage them to do the same.  Share with them your own feelings about moving and be sure to let them know that you will be depending on them for help during the move whether it be packing or settling in once you’ve moved. The more involved they are in the moving process the easier the transition will be for them

2)Get the kids feedback on the new home- depending on the children’s ages they undoubtedly have favourite features of their current home, ask them for a list of what those features are and attempt to replicate them in the new home if possible. If you will be looking at many homes or if you are moving to a new city it may be difficult to take the children with you to look at houses. Once you have narrowed the search to two or three homes, take the children to see the home with you or show them pictures online. You may be surprised by what they notice and can contribute to choosing your next home

3) Sold sign. If you sold your existing home to move or bought a new one, allowing the children to place the sold sign is a simple way to involve them in the process. Have your real estate agent take pictures of you and the children with the sold sign, not only does this involve the children but it will give you all a good memory to look back on together

4)Purge before packing- Moving is a great time to declutter. Involve the children by going room to room through your current home and deciding what items you will be taking with you and what you no longer need. Be sure to let them know that you don’t need to get rid of everything and those items that you no longer use can be donated locally or sold to go towards the purchase of something for the new house

5)Research the new place- Try to learn as much as possible about the new neighbourhood, community, or town. Share what you find with your kids. You don’t have to make everything seem wonderful but information about nearby parks, schools, recreation, sports groups and community amenities will help the kids to be excited about what they are moving to instead of focusing on what they are leaving behind

6)Room plans- to help your children become excited about the new house get them involved in planning their bedrooms at the new house. Take a trip to the hardware store to pick out a new paint color for their bedroom or if you are buying new furniture encourage them to help you pick it out. You don’t have to limit their involvement to just their own room, depending on their age they can be a big help with planning the design of the family room or dining room too

7)Do a site visit- if possible take the kids to the new place for a visit. If you’re just moving across town this could be as simple as an afternoon touring through the new house, neighbourhood, and their new school. If you are moving to a new city this may be more difficult however, you could simply go a couple of days prior to the moving truck arriving and have a staycation in your new town. Be sure to take advantage of the local amenities such as the swimming pools, movie theatres, parks, walking trails and the kid’s new schools.

8)Host a ‘see you soon” party- one of the most difficult things for a child of any age is saying goodbye to friends. Hosting a get-together with family and close friends can lesson this anxiety. During the party make sure to take plenty of pictures of the kids with their friends and be sure to exchange contact information with everyone. Between texting, emails and phone calls your children should be able to stay in touch and maintain old friendships.

9)Make a map- if you are moving far away make a map of the move and be sure to include several fun stops and detours along the way to keep the children engaged and entertained. The drive to the new home is the first step towards the new adventure and you want to help to make it as positive of an experience as possible.

10)Take the time to be a tourist- you have now moved in to the new house and are relatively settled. Set time aside roughly a week after the move to be a tourist in your new community. Whether it simply be walking through the new neighbourhood, meeting a neighbour or planning a day outing to discover the new local parks and recreation, if you make a day of it with the entire family, you will be creating new memories with the kids in a short amount of time.

Everyone wants to sell their home fast and for the most money possible. Accomplishing this does not always mean having to spend money. Below are a few tips to help you turn your home from listed to sold that will cost little to no money!

Clean

This is one of the first and least expensive you can do to help your home sell faster. A deep clean of the entire house from top to bottom will make it shine and sends the buyer the message that the home is well cared for and maintained. Don’t forget about the outside of the house! First impressions are the most important and if the outside of the house doesn’t send the message “come on in” there is slim to no chance that you will have a successful sale.

Depersonalize

You are moving anyways so why not pack and depersonalize now? For some buyers, it is difficult to look beyond the family photos, religious items, and personal papers throughout a home. Art work is a great way to show case feature rooms and walls, however if using art work, ensure the it is simple, appropriate for all ages and neutral.

Your favourite color may be orange but that doesn’t mean that your buyer will like it. In fact, a home with loud or distinct colors throughout is less likely to sell at top dollar and could very well chase off a potential buyer.   If you are listing your home for sale it is because you are committed to selling it, right? So now is the time to put your preferences aside and focus on making your home the most likely to appeal to a buyer. A large part of depersonalizing a home is a fresh coat of neutral paint throughout. This is a relatively inexpensive way to update and depersonalize the home.

Arrange furniture

Moving your existing furniture is a free and simple way to accomplish 'staging' the home, you can simply arrange the furniture in a way that opens the room and is more inviting to buyers while show casing available space and features of the home.  Simply put, rearranging furniture can help you sell the house.

Landscape

You never get a second chance to make a great first impression! Because of this your landscaping is a crucial part of selling your home.  By ensuring the house exterior is clean and organized your home will sell faster and for more money. There shouldn't be items laying around in the front, side, or backyard.  All debris from plants, shrubs, trees, leaves and non-seasonal items should be removed before your listing photos are taken. No matter what part of the country you're in you need to pay attention to the exterior of your home and its appearance, you know buyers will!

Presenting your house

One of the best analogies I’ve seen regarding this is pretending that your home is going on a date. If you were to be going on a date with someone for the first time you would ensure that you are clean, well groomed, and presentable… the same theory applies when you are selling your home.

Hide all signs of pets

I know that your pets are important members of your family however when it comes time to sell, the best thing to do is to make sure there is absolutely no way of knowing a pet lives there. One turn off for buyers is the smell of cats, dogs, and any other pets you may have at home. You will want to remove all signs of odors and stains your pets have caused. If there is any damage that they may have caused you may want to be sure you fix it.

While these tips are a great way to help sell your home, there is nothing better than professionally marketing your property. Selling homes is not as easy as people think, and many don't receive the right amount of views by potential buyers, simply because they were not marketed correctly. If you're going to spend money anywhere on the sale of your home, make sure it's on the way your home is marketed for sale by hiring a professional local real estate agent who uses a variety of marketing techniques.

Congratulations! You have decided it is time to either buy your first home or upgrade/ downsize to another.  Maybe you are tired of paying rent, your family has grown, your location no longer works for you or you are moving for your career… whatever the reason when you begin your home search with your trusted local agent, you need to take some time to make a list of your “must have items” in your next home.

When dreaming of a home the options are endless. From a backyard oasis with a pool, a gourmet kitchen with plenty of room to entertain friends or a gorgeous master bedroom, everyone’s wish list will be different.

Know your budget

The reality is that your wish list and your budget may not be realistic. The first step to creating your list of must haves is to know your budget and be informed of what is available in your price range. Once your real estate agent is helping you in your home search this will become easier as they are an expert in the area and can help you to determine if your list is budget friendly by viewing comparable homes that have sold within your budget and what features and amenities they offer

Find the perfect location, location, location

This is the well know real estate agents mantra and it is so important that we say it three times. Although a homes appearance can improve over time, the physical location will always remain the same so be sure to determine ahead of time what you will need from your location. Proximity to school, works, family, recreation and transit are all important factors to consider

Determine how much space is needed

Having the space for the entire family in your new home is an absolute must have. If you are a family of 6 a three-bedroom home may not be enough for you. Or if you work from home having a designated space to use as home office will be a non-negotiable feature of the house that must be met

Lifestyle

Once the most important needs have been identified (budget, location, and space requirements) you should now take some time to consider your lifestyle and what your home must provide you with to accommodate this. If you enjoy entertaining, an ample amount of space to do so will be a priority.  If you like to cook, then an appropriate kitchen will be a key feature for you. No matter what your lifestyle and preferences, make sure to take the time to identify them prior to picking your house

Focus on the floor plan

When looking for a home, buyers can easily be distracted by decorations, paint colors and flooring. Remember, these items can be changed relatively easily, however you can’t change the location of the home and it may be much more difficult to do a large-scale renovation to meet your lifestyle needs

It’s a well-known fact that home ownership is the single largest source of savings for Canadian households, and unlike when you pay rent, every payment you make builds equity. You have a steady income, secure employment, have been pre-approved to buy and the only obstacle in your way of home ownership is saving for your down payment. No problem! If you follow these tips and start setting something aside as savings every month you could have your down payment saved within a year.

1-Move in with your parents or in laws. The quickest way to get in to the housing market is to maximize your savings which is difficult to do when you are paying rent. If you pay a token amount of rent to the parents monthly and deposit the remainder in to a separate savings account specifically created for you down payment

$1000 a month is a conservative amount of rent to pay a month so depositing the saved money every month will yield $12,000 for the year to put towards a down payment

2-If moving in with your parents isn’t an option than move down one level in your current rental. Instead of living in a two-bedroom condominium downsize to a one bedroom or a bachelor suite. This will save you a minimum $200 per month and adds $2400 per month to your savings.  

3-Half your spending in restaurants and bars. The average person spends $250 a month eating in restaurants and bars. If you cut this expense in half, you will have an additional $1500 for the year to put towards your down payment  

4-Cut the home phone and satellite- chances are that you rarely use your landline anymore so it is money going down the drain when you own a cell phone. Satellite tv is an unnecessary extravagance when saving to buy a home. Make sure that you have a great unlimited internet package and you can replace your satellite with Netflix and watching your favourite shows online.

You will save a minimum of $120 a month which over the course of a year will put an additional $1440 towards your goals

5-Dial down your holidays. This doesn’t mean that you must sit at home for a year, just revamp your holidays to be more budget friendly. Drive to your destination or book your flights on airmiles or Aeroplan. Choose a destination that you won’t have to pay for accommodations. You most likely have a family member or friend living in the location that you are going to … give them a call and ask them if you can stay with them, chances are they will be thrilled with your company!

Savings on flights and hotel approximately $1000 every 6 months is $2000 to go towards buying a home

6-Personal income tax return – you have completed your personal income tax return and are getting a refund…. Why not take this money and add it to your savings? Chances are you didn’t know that you would receive the return and therefore it is “extra money”

$800 added to your growing savings!

No matter how many of these simple money saving techniques you choose to use, making small changes daily, weekly and monthly puts you closer to joining the ranks of many Canadians who have chosen to invest in their own financial future through owning real estate.

Location, location, location is the real estate agents widely shared mantra and there’s no doubt that by now you’ve heard it. But do you know what it means and why location is so important that to drive home the message we say it three times?

What does it mean? Simply put, identical homes can increase or decrease in value due to their location.

What Factors Could Positively Affect Location?

-Top Rated Schools and School Districts

-Scenic views such as lakes, mountains and city views

-Proximity to nature and recreation, walking and bike trails, beaches, ponds, and parks

- Curb Appeal of the area, a well-maintained home and neighbourhood that exudes pride of ownership

-Similar Interests and Values, these features will change depending on the individual and their interests. For example, a busy professional may be more likely to desire a property within walking distance to restaurants, theatres and boutiques while a growing family will likely place a higher value on a home in a quiet neighbourhood surrounded by other quiet families like their own

It’s almost easier to discuss what constitutes a bad location that a good one because the qualities that make a home more desirable varies depending on your own lifestyle or preference

Factors That Negatively Affect the Value 

-Commercial/Industrial Areas, except for living in a desirable downtown area, commercial buildings on your street will diminish values due to increase in amounts of traffic and noise levels

-Busy Roads and Streets, constant traffic and noise, perceived lack of privacy and debris will encourage buyers to purchase another home in a quieter location

-High Crime Areas, people want to feel safe in their own home so if when living in a high crime area you are worried about your valuables and personal safety it’s likely a potential buyer will be as well. These homes can be the most difficult to sell

-Lack of Pride of Ownership, neighbours who show little to no pride of ownership in home maintenance, have excessive amounts of junk and debris present outside, poorly cared for landscaping. Remember to look around the entire area during your home search, you can control your own house maintenance, not that of the neighbour…

-Close to Hazardous Materials, the essential point is that people don’t want to live next door to a nuclear power plant or any other structure that can emanate harmful odors and material

Remember this during your home search, you can easily change paint, flooring, fixtures and at times the layout of a home. What you cannot change and have no control over are the surrounding areas of your home once you have purchased it so discuss with your real estate agent and take the time BEFORE you buy to ensure that you buy in an area that will not only bring you greater enjoyment while you live there but will be more sellable when it is time for you to move

Whether you are buying, selling, or investing, your relationship with your real estate agent is an intimate one. You share with them your financial and family situations, wants, needs, goals and interests. You should not only enjoy spending time with them but feel a high level of loyalty and comfort with your agent as well as a sense of teamwork… together you are working towards a common goal because your success equals their success.

Priority Are you a full time real estate agent? Or is this one of many jobs or a hobby?

Ask yourself and your agent if real estate is their top priority. Make no mistake, if our clients aren’t successful, we aren’t successful and to succeed in real estate it must be a full-time job. A full-time real estate agent can devote their time and energy to helping you achieve your real estate goals whether it is continuously marketing your property for sale or searching for the right one for you to buy. There are limited hours in a day so if your agent has limited time and energy to devote to selling real estate, chances of you achieving your goals with them are slight.

Present- Is your potential real estate agent present in the area? Are they a local expert with experience in the area? It is incredibly difficult to advise someone on something that you don’t know or understand yourself, so if your agent is not familiar with the past, present and potential future development of the city, neighbourhood, or price range that you are working within, they can’t help you. During your time with your agent are they present and involved in the conversation or are they distracted by outside influences? If they aren’t listening to your wants and needs they won’t be able to help you achieve them.

What are your marketing strategies and techniques? - the days of simply placing a sign in the yard and uploading a home on the Multiple Listing Service are LONG gone. Is your potential agent experienced at using a variety of current marketing techniques? Traditional print media such as newspapers, magazines, mail outs are now a small component in the effective marketing of selling a home. It’s a well-known fact that the vast majority of home buyers search for a home online before they even consider viewing it in person so your agents online real estate presence is vital.  View their history of advertising their homes for sale, experiences and expertise on personal websites, social media (Facebook, twitter, linked in, Pinterest and Instagram) If their online presence is lacking or just recently began, then chances are they won’t be able to market your home to reach the greatest number of potential buyers.

What is your experience?There is a huge variety of different agents. Each one has a unique personality, variety of education, training, and marketing techniques. For this article lets break agents in to three categories. New agent, experienced agent, and top producer. There are benefits to using an agent in each stage of their career, the one that suits you best will depend on your own personality, experience, and goals.

Although a new agent may lack experience they will likely make you a top priority and make up for a lack of experience with fresh and energetic enthusiasm for their new career. This can be a benefit to you as your goals are at the forefront of their mind increasing your chances of finding the right property and the amount of attention your home will receive in their marketing efforts.

If you are looking for more guidance and support with your real estate goals than you feel a new agent can provide you with then an experienced agent may the right fit for you. An experienced agent will be able to guide you through the complexities of real estate seamlessly. They will have systems in place to create a smooth buying process for you keeping your housing needs and budget a priority so that you can focus on what’s important… finding the home that you want. An experienced agent has developed a variety of marketing techniques they will use when selling your home. Their market knowledge in the area will be advantageous when pricing your home, increasing the likelihood of achieving your goal… selling your property.

If hiring an agent with the most experience is your priority that a top producer might be the right fit for you. These are the agents who year after year have been at the top of their field and involved in the most real estate transactions in the area. The top producer should be able to provide you with an abundance of information on the current market conditions, historical real estate facts and will have solid systems in place to facilitate your experience whether buying or selling. Due to the sheer volume of clients that a top producer works with they will likely have an assistant or buyer’s agent working for them, which means at times you will be working with them and not your agent.  

Negotiation skills- if you are going to be working with a full-time agent by now they should have taken extensive training in negotiations. If you have contacted an agent to sell a home, they will have completed a Comparative Market Analysis which will determine the most likely sale price of your home in the current market.  Often a seller will want to price their home above fair market value in hopes of optimizing profit, if your agent is unable to discuss the pit falls of overpricing with you and help you to see why this is a mistake how are they going to negotiate on your behalf when an offer is placed on your home? Simply put if your agent is unable to negotiate with you, they are unable to negotiate for you.

Communication- Does your agent answer their phone and return your calls in a timely manner? If you aren’t able to get a hold of your agent how are others going to? Unanswered phone calls, text messages and emails are a good indication as to how much time your agent can devote to communicating with others on your behalf. Whether it be potential buyers for a property you are selling or the seller of a property you may want to purchase, lack of communication from your agent will equal missed opportunities for you.

Referrals-friends, family, past clients, other agents. If you don’t already know and trust a local agent when you decide it is time to start your property search or choose to sell your home then it’s a great idea to ask your friends, family members and co-workers about their past experiences with local agents. If this is not an option, then there are many online options that may be available to you. Research past client testimonials, ask for referrals in a local online chat group or simply set up appointments with several agents who you feel you may want to work with a decide who is the best fit with you.

As you can see there are many factors involved in choosing your agent. Make sure that whoever you work with is someone with whom you feel comfortable, have local market knowledge, possess strong communication skills, offer a variety of marketing strategies, and has dedicated the time and energy towards making real estate their primary focus. At the end of the day… if you don’t succeed in reaching your real estate goals, they won’t either!

When you put your home on the market, you want it to sell fast and at the highest value possible. To get top dollar when you sell, you must think like a buyer and take the time to do these simple repairs and renovations BEFORE you list for sale.

Remember First Impressions Are Important!

When selling your home, the first impression is the most important. Buyers are tech savvy and informed and often search for homes online or drive by the home before they make an appointment to view it with their real estate agent. If a potential buyers first impression of the home is that of disrepair or neglect, it’s unlikely that you will get them in the door.

Start with the curb appeal; paint or replace the front door. It doesn’t have to be the same colour as your exterior, make it look fresh and eye catching by painting or thoroughly cleaning it and ensure that it works properly and locks easily.

Freshen up your landscaping by removing unhealthy and overgrown trees or plants and replacing them with healthy ones, remove any weeds or debris, sweep and shovel your walkways and driveway, clean siding and windows if needed and ensure all outside lighting is in proper working order (potential buyers are just as likely to see your home in the dark as they are during the light of day)

Paint It!

When planning sell a home painting before you go on the market is always a good idea. A new coat of paint will make your home feel fresh, clean and updated. Painting is a relatively quick and inexpensive way to improve your homes appearance and gives it an overall impression of being well cared for.

Before you paint remember light NEUTRAL colours are the key to success and dark colours can make a room feel smaller than it is! White, beige and grey are your best options and are most likely to help potential buyers envision

themselves and their belongings in the home.

Clean and De-clutter

Clean, clean, clean, and de-clutter! A thorough deep clean before you list your home for sale can make a significant difference. Have carpets cleaned before you hit the market especially if there have ever been pets in the home, make sure that all light fixtures, mouldings, doors, floors, cabinets, and light switches are squeaky clean. A well cleaned home tells the buyer that you care for the home and are more likely to ensure maintenance and repairs have been done throughout the years.

De-cluttering creates more storage space and helps rooms appear more spacious. Pack, donate and throw away. If you have items that you don’t use daily or won’t need for the next few months pack them. Items you no longer need or use should be donated or sold for extra cash. Throw away all items that aren’t in good condition and can’t be sold or donated. You are planning to move anyways so why not start the process of packing and decluttering BEFORE you list for sale?

Bathrooms and Kitchens Are the Most Important Rooms of The Home

Buyers always pay special attention to the kitchen and bathrooms. Dated cabinets, countertops, flooring, appliances, fixtures, and knobs can give the entire home the impression of being dated and in need of costly renovations.  Although it can be difficult with your own home, take an impartial look at your kitchen and bathrooms. Are they functional? Do the cabinets open and close properly? Do the faucets leak? Spending the time and money to make the necessary repairs before you list will increase your chances of selling your home. Updating paint (walls and cabinets), countertops, knobs and flooring are relatively inexpensive repairs to make and can have a large impact when you are trying to sell. Need advice on updates and don’t know where to start? Talk to your real estate agent, we are here to help you

Fix It If Its Broken

Buyers offer to pay less for a home that has the appearance of needing costly repairs and nearly every buyer has a home inspection done before they buy so why not make the repairs BEFORE you go on the market? Leaky faucets, outdated electrical wiring and plumbing, windows and doors that don’t open and close properly, cracked tiles, shingles that need to be replaced and hot water tanks and furnaces that are beyond their life expectancy are all repair costs the buyer will deduct from the offer amount or even worse, are reasons why they choose to not buy your home.

Pay Attention to the Flooring

Outdated, stained, cracked or damaged flooring reduces the overall value of your home to the buyer. Most likely replacing all the flooring is not in your budget so put the cleaning fairy to work for you. A professional deep clean of the carpets can remove stains and odors, repair of cracked grout and tiles can have a large impact at an affordable price, and a deep clean of older wood floors can bring them whole new life.

IF you do choose to replace flooring there are many options available. Although hardwood and tile floors have long been a favourite, laminate, vinyl plank and linoleum now come in a variety of colours, styles and price options and can be a great affordable alternative.

Lighting and Odors

During showings and while having pictures taken open your curtains and let the sun shine in! This will help your home to feel more spacious and welcoming. If buyers are viewing the home in the evening, make sure to have your lights on and ready for them before they arrive. Dark rooms can give the appearance of a small or unwelcoming home.

If you followed my advice had did a deep clean of your home before going on the market you will have gotten rid of any lingering odors that were present. Pay special attention to pet odors that can be caused by pet hair, litter boxes or “accidents” on the floor and strong cooking odors that may linger in the home.

Open the windows, vacuum, wash and remove any causes of these odors before buyers arrive.

Although taking the time to clean, organize, refresh, and repair your home may seem like a daunting task, completing these items BEFORE you list will save you time on the market and will help your home to sell for top dollar