Your Guide to Buying a House

There are many advantages to buying a home, among them freedom, security, capital appreciation and of course pride of ownership. If you have made the decision to buy a home, here are a few things to consider:

1. It's never to early to start a budget. Set aside at least 20 percent of your expected mortgage. A higher down payment means lower mortgage payments in the future.
2. Improve your credit rating if you haven't already. Review your credit report, clear up any mistakes, make your payments on time and pay off any outstanding debts.
3. Before you begin looking, acquire a pre-approved mortgage so you can negotiate your purchase in confidence. The amount that you qualify for will of course depend on your monthly income, debits, credit rating etc.
4. Find a Real Estate Agent that you can trust and discuss what you want to find in a new home.
5. Research the neighbourhoods that interested you. Pay attention to noise, zoning issues, crime levels and plans for future development.
6. When viewing properties with your Real Estate Agent, make notes of the features you like and rate each home on a scale of 1-10 upon leaving.
7. After touring a few homes, review your notes and ask your Real Estate Agent to contact the properties that you're interested in.
8. Take a look at the offering price, length of time on the market and of course the purchase price of other homes in the area.
9. Negotiate extras if any are offered. While new appliances may be tempting it's much smarter to ask for the closing costs to be covered.
10. Request a home inspection before closing to avoid being surprised with costly repairs once you move in.
    

Your Guide to Selling Your House

While it's not impossible to sell your home in this market, it is important to get creative. To ensure that your property doesn't stay on the market for long, consider:

Price:
The first 30 days that your home is on the market are the most important. Take advantage of the attention and be smart about setting your price. If have already made the mistake of pricing your property too high, take it off the market to make a small cosmetic improvement and re-list it.

Efficiency:
Making even the smallest energy efficient upgrades will give you a competitive edge in the market. There couldn't be a better time to do it either, the Canadian government is offering an ecoENERGY Retrofit grant that will allow you to make $5,000 worth of upgrades.

Presentation:
We are all aware of the importance of curb appeal. Ensure that your home passes the drive-by test and remove unnecessary clutter and debris. Small changes to landscaping will also make a big difference but avoid over spending if you want to recoup your remodelling investment.