Thinking of buying your first home? Is the timing right? A home is usually the largest single investment an individual makes in his or her lifetime. The pros and cons of such a decision should be thought out and weighed wisely. If you have decided that NOW is the time for you to take the leap there are certain things you should take into account:
HOW TO CHOOSE AN AGENT?
Chose someone who knows the area you are interested in. Meet with him or her and discuss your needs and your price range. He or she will recommend you meet with a mortgage advisor and get pre-approved. That way you will not have the disappointment of falling in love with a home that is out of your financial reach at this time. Remember your first home is often a stepping stone to what you really want to end up with. It may take a few moves and some time. Be patient. Make sure your choice of agent is knowledgeable in the current Market Place. Talk with him or her and make sure your personalities are a good fit. It makes all the difference in the world and takes all the fear away. Your agent has to have your best interests at heart. There has to be a mutual trust. He or she will help you decipher your requirements. Do not be fooled by the FISBO'S out there, that is "for sale by owner" On the surface it may look like you are getting the property for less money since you do not have to pay commission. Real Estate Agents have been trained to protect you, the client. There are so many legal issues which may arise after the sale that could make the transaction VERY EXPENSIVE if you decide to go it alone without a Professional.
WHAT CAN YOU AFFORD?
Remember your agent is not a Mortgage expert. He or she will recommend some guidelines. Your GTS (gross dept service) should be within 28-32% and your TDS (total dept service) should be within 32-40%. Your Mortgage Representative will go through the details with you personally and in private. Always keep in mind that there are WANTS and NEEDS. WANTS are what everyone would like and NEEDS are what will be best for you at this time according to your present income. The Mortgage Representative you chose will do this preparation work for you to earn your business.
WHAT TYPE OF PROPERTY SUITS MY NEEDS?
There are certain criteria that you should consider:
a) Am I single or married?
b) Do I have children and if so how many?
c) Do I have special needs such as a single story with no stairs or a basement for a children's playroom?
d) Do I want a rancher, a side or back split, 3 or 4 level, bi-level, 2 story or story and a half?
e) Do I want a garage and should it be a one car or a two car? Should it be attached or detached?
f) Do I want a pool or no pool?
g) Fenced yard?
h) Most important is Location, Location, Location!
HOW DO I GET A MORTGAGE?
Your Real Estate Professional will probably recommend 2 or 3 sources for you to meet with. It is up to you to decide what is best for you based on their recommendations. Remember they are experts in their field but always make sure the rates and terms are best for you. They may differ and the final decision is yours!
WHAT MORTGAGE IS BEST FOR ME?
Again, the decision is yours but be sure to educate yourself so that there are no surprises. Make sure you ask a lot of questions of your Mortgage Broker:
a) Check fixed rate variables
b) Make sure you can pre-pay each year.
c) Ask about weekly or bi-weekly payments versus monthly payments.
e) Ask about Government plans for First Time Home Buyers.
A fact most people are unaware of is that if you double your mortgage payment you can pay off a 25 year mortgage in 7 years.
Knowing all the facts can save you a lot of money.
Now, after all this is done ENJOY the process. It can be fun and exciting and does not have to be scary. This may sound complicated but it is really a very simple process when you allow the experts in the different professions involved to do the work for you! Call me, Wayne Liddy 519-436-4810 Royal LePage Peifer Realty Inc. Brokerage in Chatham-Kent today, serving the people of Chatham-Kent in the Real Estate Industry for over 30 years. Put my experience and expertise to work for you!
You love your home and your neighborhood. However, you are not adverse to adding a few new touches, here and there to give it some pizazz.
Let's cover a few key areas.
Front Entrances: This is the first impression visitors have or your home. Make it welcoming and convenient.
1) Mirror You can either hang a mirror over a table or if possible mirror a wall. This is a great optical illusion for small entrances. and it will give a feeling of spaciousness.
2)Table Place to drop your keys or visitors purse, phone or gloves while guests are removing their coats and shoes.
3) Bench or chair Someplace to sit while removing boots or shoes.
4) New entrance flooring to present the Wow factor
Family Room: With open concept great rooms being so popular today, this is the room where the family gathers and spends most of their time. Separate living rooms although still found in some homes are not the place where families watch television and congregate. If this is the case in your home spend the bulk of your budget on a comfortable servicable sofa with loveseat/chairs or a sectional. If it is possible, you may want to take a wall out between the living room and family room and create a large great room.
Fireplace: This adds warmth to a family room and a great focal point. Televisions can be mounted above which solves the dated problem of where to place the TV. If a gas fireplace is not feasable try an electric fireplace. The cost is much less and you can achive a similar result.
Glass Tables: Accent tables or a glass dining room table or desk will give the illusion of space.
Clutter Removal: If you have numerous books, or other items sitting around, consider a wall cabinet to show your accessories in a more organized way.
Area Rug: Search for a color scheme or pattern that pulls the room together.The rug does not necessarily have to be expensive. It is the overall look that is important.
Color: Monochromatic can be very attractive but not for everyone. If you like color, use it. Add splashes of your favorite tones to that monochromatic room and it will be transformed. This can be accomplished through accessories such as pillows, throws, wall and table art. The beauty of this inexpensive makeover is that when you tire of the look, you can remove the color and enjoy the serenity of that monochromatic room again.
Bedrooms: Chose colors that flow. If the hallway is a cool color keep the bedrooms which you can see from the hall in the same pallette. It does not have to be the same color or even similar but if it is also cool, the space will appear larger.
Chair/Table Desk: If space allows, a reading corner is a welcome addition especially to the master bedroom. In a child's room, a desk and chair are often needed for homework. If you are on a budget, watch the garage sales or the kijiji ads. You can slip cover a chair inexpensively or use a wooden chair like a rocker and put a throw and/or cushion on it to match your bedspread. Place a small table for reading beside and the room has a perfect place to read or spend some quiet time. For the child's room search for a compact desk and chair and some wall units if possible.
In all of the above remember greenery! It will add wamth to a room, fill empty corners and be your most inexpensive way to complete the look of your home. Have fun!
Put me, Wayne Liddy Royal LePage Peifer Realty Inc. Brokerage to Work for you!
Thinking of listing your home but are unsure of what to do first? Should I paint or redecorate? Should I concentrate on the inside or the outside? Is curb appeal more important than interior decorating? Call an expert and do the right things first!
If the time has come for You to "Find Your Dream Home", then I would love to help. New properties are listed every day. By filling out the form, I can have new Listings emailed to You as soon as they become available.
The Equity in your home is like any other investment - it needs to be monitored. Homeowners should have their Equity evaluated once a year.Now might be the perfect time...
2. Basing your asking price on needs or emotion not market value. Many sellers base their pricing on what is termed as Subjective Value. To an appraiser, subjective value is based on emotions. For example, how much a seller paid for their home, how much they love their home, and overall pride of ownership is considered subjective value. Objective Value, is what ALL appraisers base the true value of a property.
Setting the asking price of a property should always
HOME OWNERSHIP IN Chatham-Kent Is Now The Time??? Do you own a home today and thinking about buying another to move up or maybe just for investment? Chatham-Kent is the affordable community with many ammenitites, attractions and events taking place making this the ideal location to live, raise a family retire to, relocate to,or purchase a vacation property. Are you trying to decide if now is the time to jump in and purchase your first home? Whatever the case, NOW IS THE TIME! All indicators point to a positive market.
There are 4 very good reasons to buy a home and some of them just make good sense but today more than ever with the economic climate this is the time to jump into the market. Let us examine them
You love Chatham-Kent with its Affordable Lifestyle and all the activities for young and old alike. You enjoy the many events and attractions in the Chatham-Kent area. The children are involved in sports or you are a senior taking advantage of the many activities available at the Seniors Activity Centre. Should you move to something smaller or perhaps bigger? Should you stay where you are and remodel? To make the the best remodel or move decision, it is important to understand all the reasons that you have to remodel and all the reasons that you have to move. This article reviews common reasons to move. As you read each of these reasons, consider how much it applies to you and note how strongly you feel about each one.Call Me, Wayne Liddy 519-436-4810 Royal LePage Peifer Realty Inc. Brokerage and let me make your move an easy and enjoyable experience. Visit my website for Chatham-Kent Events, Happening and Choice properties for sale in this great area.
1. The size of your family has changed. Of the many reasons to move, the size of your current home is the most common. Many young couples have purchased a cozy two- or three-bedroom, 1,000-square foot home that suits their situation perfectly. The home has a master bedroom, a guest bedroom, and possibly a home office. A single living area with couches and an entertainment center provides the couple with ample space for the two of them and their visitors. As they start a family,
Are you a buyer or seller in today's Real Estate market? Are you confused? Who do you chose to represent you in what very well may be the largest purchase of your lifetime. You need a Professional. Someone who knows what he is doing and can make the transaction a pleasant experience. Don't get caught with mud on your face. There are plenty of do -it -yourself companies out there, covering everything from home renovation projects to selling your home. I was always taught to do what I knew best and leave the Professional to the rest. This is especially true in buying or selling a home. There are many details that Real Estate Professional know and
Are you tired of the overall look of your home? Is it time for some updates. Traditionally, in the winter we all spend more time indoors and it is just human nature to want a change.You may be updating your home to put it on the Market. Spring and Fall are good times to do that. All indications point to a brisk market in the Chatham-Kent area. Or, maybe now is not the right time for you personally to sell but you wantto have a new look. There are several changes you can make without spending a lot of money and they will help you Successfully Market your home when the time is right. Remember Chatham-Kent has many exciting new Developments planned for the near future and people are watching our community. It has a very Affordable Lifestyle and is a a great place to live, retire, downsize or visit. Let's get started with some great ideas. Spring is the Season of color! We are coming out of the drab days of winter and watching for those first signs of green on the trees, shrubs and lawns. The Robins are chirping and we can even spot a bright little Bluejay bobbing around the yard.Summer is colorful and we spend a lot of our time outdoors. Fall arrives and after the bright days of summer
Is staging your home a good idea when preparing to list or sell? It is a very necessary step to insure you receive the most return from your investment. For many people their home is the biggest investment of their lives. We are emotionally attached particularly if we have raiseda family there or enjoyed many happy occasions. First, you must become emotionally un-attached, prepare mentally to move on and trust your Real Estate Agent to do what he does best. He will find the right buyer at the best price for your home. Your job is to carefully select that agent and then follow a few basic steps. Prepare to show your home at it's best.
I am Wayne Liddy, Royal LePage Peifer Chatham-Kent Realty Inc. and I works with a team of Trusted Professionals in Chatham-Kent. My background of 35 years + experience in Furniture sales and Interior Design will give you a distict advantage that very few other agent can offer. The Stager on his team will help you
Generation X Makes Comeback into Real Estate Market
According to a recently released study by the National Association of Realtors (NAR), Homeowners in the Gen X Generation are making a comeback into the Real EstateBuyer/Seller pool. In recent years, the time spent in their present home was 10 years, a cycle that was interrupted by the decline of house prices experienced in 2011. This decline has caused a definite decrease in inventory which hopefully will ease as this generation once again gains momentum in the Real Estate Market. A stronger job market and a rise in homeprices is stated as the reason for this activity. It has taken this long for Gen X to rebuild their equity in their present home. Always in the forefront, Gen X has taken a backseat
You may have heard rumbling that there is a shortage of homes in the market for sale and wondered why.To fully understand todays market requires some knowledge of the generation numbers and their effects on homes for sale, buyers and the renters market.
Generation X, born between the years of 1965-1984, numbers 83 million. According to some experts, they came into the housing market at the wrong time.In 2004, Generation Xhomeowners reached an all time historical high of 49.5%. Today 10+ years later those historical averages are 7.0-7.9% below average for that generation. What happened?Manyentered the marketpurchasing overvalued properties with high-risk loans that left them overextended and vulnerable.Some,as a resultwent
Many homebuyers particularly NEW home buyers fail to plan for yearly maintenace on their new home puchase. This is very important. Buyers work with their Real Estate Agent and their Mortgage Specialist, set their budget as far as monthly, weekly or bi-weekly mortgage payments but often have no idea what it costs to maintain their home in good condition.This is where a good agent will guide you to make an informed decision.He or she will advise you to have a Home Inspection by someone who works with their team. Call Me, Wayne Liddy 519-436-4810 Royal LePage Peifer Realty Inc.Brokerage and put me to works for you with with a whole team of Trusted Professionals located in Chatham-Kent who can direct you in every decision and guide you to make an informed decision as to the viability of the purchase. A Home Inspection will provide objective information. With this report the buyer can negotiate better through his or her agent and not be facing unexpected repairs in the near future. Heating System, Roof and other large ticket items can be devastating if not expected. Home Components
TheBaby Boomers 55 years and up, 76 Million of them,are one the largest segments of the population today and they areretiringor looking at retiring in the next 10-15 years. Both buyers and sellers in that age group have been waiting for the past few years for some postive signs that the time is right for them to make a move. There have been reports lately that indicate that the housing market is returning to a closer to normal market after the last few years.This could mean a more robust 55+ market, asbuyersget access to a source of cash ( their homes) that has been denied to all but the wealthiest buyer lately.
More people 55+ indicate they will continue to work. They maynot stay at their present place of employment, in many cases being forced toretirefrom their lifetime career but will look foralternate employment.This means they are looking for a specific type of community and neighborhood where their needs can be met.
WHY ARE THEY RELOCATING:
ManyBaby Boomersare finding themselvesEmpty Nesters.They have the large family home which was great when the children were growing up but today
The loan and mortgage process is a stressful and sometimes frustrating process. The idea is to make the entire process go as smoothly as possible. What is most important? Be prepared before you sit down with your loan officer. Here are some things you can do to help ensure successful results, as well as give you some control over your own loan process.