How to Stop Renting and Buy Your First Home

How to Stop Renting and Buy Your First Home

Do you dream of finally owning your own home? Becoming a homeowner is a big decision, but it comes with some great benefits. A home is an excellent investment, gives you more stability and security, and is a place you can truly put down roots and call your own. If you’re finding it hard to get to a place where you finally feel ready to buy, these tips will help you on your way. Here’s how to stop renting and buy your first home. 1. Get a handle on your financial situation Do an in-depth assessment of your current income, savings, debt, spending habits. You want to have a good understanding of your entire financial picture. It’s important to note that even if you have debt, you may still qualify for a mortgage. For help, speak to a professional such as a Financial Advisor about your position and get recommendations on how to prepare for buying a home. 2. Request a copy of your credit report Your credit score is the first thing banks will look at when considering you for a mortgage, and you need to have a high enough credit rating. A credit score of 700 or above is generally good, and 800 or above is excellent. If you want or need to improve your credit score, here are some great tips. 3. Assess the market where you want to live Do some research so you know how much homes in your area cost, and compare this to what you’d be able to afford. You may need to adjust or make a few concessions to find an...
What to Look for When Buying a House

What to Look for When Buying a House

It’s easy to get emotionally attached to a new home when you think you’ve found ‘the one’. But while it might appear perfect at first glance, the tint of those rose-coloured glasses might cause you to overlook significant problems with a property. When you’re buying real estate, it’s best to take an investment approach and consider the property’s value, keeping in mind the resale value of the house. These tips on what to look for when buying a house will help you determine whether a property is worth pursuing. These tips are meant to help you determine which properties are worth your time in the early stages of buying a home. But even if a home has passed all of your own tests and you want to move forward, you should still have a professional home inspection done. This will catch anything you didn’t and ensure that you’re able to get what you need from the seller to make repairs thrown into the deal – otherwise, it’s probably in your best interests to walk away. It’s also important to work with a licensed Realtor® when you’re house hunting. That way, you can ask them any questions about the home while you’re doing the walkthrough. You are paying for their expertise and guidance, and there’s no such thing as asking too many questions. They can help guide you and point out potential issues that your home inspection should focus on. 1. Roof Take a look at the roof from the outside of the property. Does it look new? Is it straight or sagging? Are there any holes or missing shingles?...
The Three Most Common Seller Mistakes

The Three Most Common Seller Mistakes

Chances are if you’re selling your home, you want to get it done as fast as possible and for the highest price. But getting the results you want comes down to much more than just listing your home for sale and crossing your fingers. Selling a home is a complex process that requires the expertise and know-how to get it done properly. Here are the three most common mistakes that sellers make when trying to sell their home (and how to avoid them!) 1. Condition In order for your home to sell within a good time frame and at the best possible price, it needs to be in good condition. When buyers walk into your home for the first time, you want to give them the impression that your property has been well-cared for and is mostly move-in ready. This includes things like fixing interior and exterior paint; patching any holes, cracks, and dents; tending to any landscaping that needs to be done; and ensuring your home is clean and tidy. Some buyers don’t mind taking on small cosmetic repairs or updates, but will expect a price reduction to cover the cost of taking care of them post-move. The larger and more serious the repairs needed, the lower you will need to price your property. In some cases, it may make sense to take care of repairs before listing your property to attract more buyers at a higher price. On the other hand, some updates can be left to the buyer so that it is tailored to their tastes. Talking to a Realtor® can help you determine the costs...
10 Tips for Staging Your Home to Sell

10 Tips for Staging Your Home to Sell

What’s the secret to getting your home sold in today’s real estate market? With many homes on the market, you need to make sure yours stands out. Properly prepared homes will sell quicker and for a better price. Preparing your house for selling can be a daunting and overwhelming task whether you have lived in your home a few years or many. The longer you have lived in your home, the more things you will have acquired and the more wear and tear will show on your home. The intent of these 10 Tips for Staging Your Home is to help you save TIME, MONEY and ENERGY. In preparing your house for selling you need to take a step back and have the mindset that this is no longer your home, but your investment for your future. You want your home to have broad buyer appeal to the market. Following these 10 Tips for Staging Your Home to Sell will help you sell your house sooner and possibly for more money than if you did not prepare it for selling. 1. Don’t ignore your curb appeal This is the first thing potential buyers will see when they view your home, and you want to make a good first impression. Ways to boost your curb appeal include: power washing siding and walkways; planting blooming flowers in flower beds or decorative pots; keeping a freshly mowed lawn; adding new, shiny door handles or knockers; and adding fresh coats of paint to the exterior of your home, including repainting or staining the porch. 2. Maintain a clean home This one might seem...