5 Things to Think About When Buying Your First Place

Here are 5 things to consider as you begin the process of purchasing your first place.

1. The growth possibilities. Shop for a place that meets your current spaces needs, but also consider one that can adjust to a changing household. A five-year plan may not pan out as you expect, so think about possible life changes that could impact your need for bedrooms, bathrooms and square footage.

2. What's under the hood. Your first place may not come with many frills or luxury features – but all the basics should be in good condition. Thoroughly inspect prospective properties. And before any purchase is made, hiring a professional inspector is a must. Your real estate agent can guide you through this key step.

3. Know that no home will be perfect. Your first home may likely not be the perfect place. But make it the right one. Finding the right home is often a matter of prioritizing. Make a list of “must haves,” along with “nice to haves” and “not necessary to haves.” A three-car garage is nice, but would you rather have a larger kitchen or live in a good neighborhood? Only you can measure the importance of the amenities you are looking for.

4. Consider ALL the costs of ownership. When you buy a home​, you take on recurring costs you don’t have to worry about as a renter. Look for a home that meets your budget in terms of full living costs – mortgage, utilities, trash pick-up, sewage fees, homeowner's association dues and other fees. Your lender doesn't take into account these costs when approving your home loan. A good real estate agent can help you calculate estimated monthly costs to determine the most appropriate price range for you.

5. The lifespan of things. In addition to identifying cosmetic and structural flaws before you buy, know what to expect from the home's components. How long until you need to replace the roof, appliances, furnace or carpet? Everything may be in working order now, but all homes need these types of repairs at some point. Researching the expected remaining life on large-ticket items can help you plan for the future.

When you're ready to start the process of buying a home, a local RE/MAX agent will be ready to help. Follow us on Twitter.

9 Ways to Clean the Clutter Before Selling a Home

Bill Gassett, a top Real Estate agents writes:

"Ways to De-Clutter Prior to Moving

• Organize your paperwork. Mail and other paperwork has a way of accumulating for even the most organized people. The next thing you know, you have drawers and piles of it everywhere, and the first thought that comes to mind is to just throw it all away. Take a deep breath and deal with this the only way you can – with patience. Once you begin going through your paperwork you will discover that much of it is no longer relevant and can be discarded. Shred any documents with sensitive information and recycle the rest." read more

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Who Are the Winners Following the BOC Surprise Rate Cut?

The Globe And Mail Reports:

"The most commonly cited catalyst for a correction in Canadian home values has been the possibility of rising interest rates, and the pressure that would put on the finances of marginal borrowers. Higher borrowing rates can reduce housing demand and put downward pressure on prices. The rate cut, which supports the continuation of ultra-low mortgage rates, at least pushes the likelihood of a large group of overextended borrowers running into trouble further out into the future." 

This is good news for the Real Estate Market in the Thompson Okanagan.  Call The Right Agents today!

Notice to North Okanagan Property Owners: 2015

Notice to property owners: North #Okanagan property values increase in 2015! Read more here

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Merry Christmas & Happy New Year!

Top Six Pricing Mistakes Home Sellers Make

When preparing to sell your home, getting the most money for your investment is top of mind, and a top factor in selling your home is price.  If you want to find the right buyer, it's crucial to have a sound pricing strategy.  Here are six of the most common pricing mistakes homesellers should avoid:

1. Overpricing at the get-go – Even if you think your home's value is the cream of the neighbourhood crop, it's important that you appeal to the value buyers see. Initial overpricing could exclude serious potential buyers, particularly if the current market, recent sales in your neighbourhood and other factors don’t match your high price. This situation also risks numerous reductions in the price, which translates to your home sitting on the market for an undesireable length of time.

2. Excluding your listing from online searches – Price range is a very common parameter for homebuyers when perusing their options. If a buyer’s price range begins at $300,000 and ends at $350,000, you'll exclude your home by listing it at $355,000.  If this were the case, listing at $350,000 would make your listing more likely to capture attention of buyers.  The choice is up to you and your real estate agent, but if you're on the fence between price ranges, this is definitely worth considering.

3. Ignoring recently sold properties – If you want to generate buyer interest in your property, your price can't be based only on the listing price of other homes in your neighbourhood.  Take a look at properties that recently sold, and the prices they sold for.  You can get the bigger picture from an experienced real estate agent providing you with details about recent sales.

4. Getting overly creative with your asking price – It's easy for buyers to choose round numbers.  For example - listing a home at $456,251 can give a potential buyers cause for a double-take, diverting attention from your home to yourself.  It's probably better to save the creative juices for other details, like the property description.

5. Being closed to negotiation – If you want to kill a sale immediately, all you've got to do is dig your heels in on the asking price.  Negotiation goes two ways, and being unflexible on the price (or other conditions) could mean a very long and rough road.  Is it more important to stay firm on your asking price when you could take a few steps toward common ground and ensure a closed sale?

6. Ignoring your REALTOR'S® insights – The safest route to the best price begins with picking a great agent, and listening to their advice. Your agent knows how to view your situation from all angles – like recent sales, the property's features, the local market and more – and can help you make an informed decision about your price.

If you're ready to list your home, call a local RE/MAX real estate agent.  They'll help you price it right and get it sold.​​

www.TheRightAgents.com

BC Wildlife Park: 17th Annual Wildlights Festival

Wildlights is on now @BCwildlifepark - ultimate holiday fun & essential for paying for animal care all year #Kamloops