So you've started house hunting, congrats! If you're thinking it's now time to rally the troops, maybe consider a few suggestions before you bring a small army to your next showing appointment...
As a first time home buyer you're probably thinking you'll need to bring in reinforcements. Here's our suggestion; give your first few showing appointments a try solo. It sounds intimidating, and, inevitable you aren't the only one who wonders 'what am I looking for?' Fear not, you'll be happy to know that you will quickly pick up on tips and tricks with each viewing and before long know if a home works for your or not within a matter of minutes.
A good friend or a parent can sometimes be helpful but keep this in mind; the more people you bring the more opinions you will receive. Especially for a couple, you probably find both parents and in-laws are more than ready to offer their expertise. As wonderful as that can be it can become quite a distraction from the real matter at hand.
We all love our little ones (or big ones!) and yes, they will no doubt need their stamp of approval but hiring a sitter or leaving them with a family member can give you more quiet time to think. You'd be surprised how hard it is to recall details both big and small of a home when you have to keep your eyes on little ones running around.
To keep some control, we suggest limiting to one or two guests. If that's proving difficult, offer to bring them through open houses in some of the neighbourhoods you're considering. When you ultimately find the home of your dreams, a second showing or even a further visit can offer a good opportunity to bring in the family!
If we can help, contact us!
Friday, March 31, 2017
Friday, March 24, 2017
We're all guilty of it we just can't help it... when it comes to buying a new home we seek out anyone and everyone who can offer us advice. For some, it's bragging rights but for others its an opportunity to pick the brains of those who have gone through similar changes in their lives. Here's where we'd like to heed caution. To put it nicely, there are a lot of real estate experts out there but very few REALTORS. I know we may be just a little biased but, think of it this way; you wouldn't ask someone who bought a new sports car for advice on which minivan to purchase. When listening to advice (solicited or not) be sure to keep your best interests in mind.
It's always great to lean on a parent for support...after all, they've been through it all. Just try to remember, they are in a very different stage in their lives where priorities and needs can shift dramatically from generation to generation. A parent however, can be a great source to keep you grounded and prioritize wants vs. needs.
A good friend or sibling, now there's someone who knows you better right? They're likely living a lifestyle more congruent with your own but don't be surprised if their dreams of a high rise on the waterfront don't jive with your aspirations of 4 bedrooms and a picket fence. A friend is always a good resource to have a good laugh about the homes that just really wouldn't work.
In the end, your REALTOR is trained to listen to your needs and help to channel you down the right path to find that perfect home. Whether it's your first home or your fifth, it still can be an intimidating decision which is why a professional can help to remove the burden and prevent long nights of tossing and turning.
If we can help, contact us!
Monday, March 20, 2017
Friday, March 17, 2017
Are You Ready to Buy?
- 'Amy I making the right choice?'
- 'Am I really ready to buy my first home?'
- 'Sell and purchase a larger home? Downsize?'
To help put your mind at ease, there are certain details people who are ready to buy will recognize. They usually have been following the market and know what type of home they want and approximately how much they will have to pay for it. They also have a good indications of what they can expect to get for their current home if they have one to sell.
People who are ready to purchase also are generally aware of their financial situation and what they can spend. Of course, the best indicator is enough money for a down payment and closing costs and the always important pre approval from the bank. In that case, it's time to go home shopping...
If we can help, contact us! Stay tuned for more on your next home purchase decision...
Monday, March 13, 2017
From humble beginnings, Edwards Real Estate has emerged, grown and metamorphosed itself throughout thirty-eight years of small business spunk. This little company who grew out of the mind....and basement of its owner and President, Jamie Edwards has steadfastly served Burlington and surrounding area for now, 38 years!
It is with pride and gratitude that we salute Jamie today and recognize talent and perseverance will and can triumph, even in today’s competitive world. In a time when entrepreneurship was not prevalent, Jamie decided he was opting out of the mainstay. Early on he adopted an ‘excellence in real estate’ philosophy which resonates throughout his business model today. Everyone within the organization is challenged and encouraged to think outside the box, a trait that just makes sense for any small business to offer continuance.
One who advocates giving back to community and profession, he has served as President of the Burlington Chamber of Commerce, the local real estate board and Ontario Real Estate Association. His ongoing mentorship efforts have inspired countless many to pursue and realize their own personal goals. For those who know him, you’ll agree he has that rare gift of leading individuals into territory beyond their own realm of possibility.
So on this note, friend, March 13th, 1979 marked the beginning of a successful business career...when Edwards Associates was but one. Thirty-eight years later there are many who still tout the ‘Edwards Difference’ as their mantra. Bravo to you, this day, March 13th, 2017 from your family, friends, clientele and colleagues!
Friday, March 10, 2017
The '20 Year Plan' Purchase
It's a smart and interesting concept in that gone are the 'piggy back' jumps into the eventual larger home as these buyers are going from the empty nester home straight into the 'forever' home. If you have the financial where with all, that can work out wonderfully with the mortgage rates still so forgiving. But, the peer pressure to do so is really not possible for everyone.
What we are seeing is still the 'instant gratification' in what their parents are just now starting to afford, the kids want right now. That being, the granite kitchens, in ground salt water pools, finished basements, 4 bedrooms with hardwood flooring style homes. Keep in mind, that inasmuch as it is nice to have the perfect entertainment home, putting in all these renovations at once time will mean the upgrades will depreciate in the same time frame, making all this renovation necessary in 20 years, just in time for the University costs.
Doing some projection planning for renovation makes sense.
If we can help, contact us!
Friday, March 3, 2017
Credit Line = Second Mortgage
What many people don't realize though, is that a credit line, is typically secured against your largest asset....your home. Many buyers, trying to move-up, forget about that handy line of credit and forget to include it in the picture when they begin house hunting. So, although, most Realtors will encourage the first time buyer to get pre-approved, this also is equally important for the move-up buyer. Many move-up buyers obtained the line when they bought their starter home and have simply kept it in existence 'just in case'. Some, forget they even still have the line in place as they've lived without it.
This line acts as a second mortgage and must be dealt with, either by closing it up altogether, or, re-registering it against the newly purchased house. But, keep in mind, it can hold up your financial process if you do not make everyone aware of it when you start your search as many financial institutions do not run a credit check when you go in for your preliminary preapproval!
That sounds counter-intuitive, I know, however, it's not fun for your Realtor to have to renegotiate an extension on your financing condition to deal with the line popping into the equation at the eleventh hour.
Asking for more time on financing makes for worried sellers as they hate to lose marketing time. So, do yourself a favour, ensure your Mortgage Broker is checking your credit to ensure you have a solid figure to work with before you initiate the home search.