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For Buyers

Oct 30
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Effects of Rising Interest Rates on Real Estate

By | For Buyers, For Homeowners, For Sellers

The Impact of Rising Interest Rates on Real Estate

As we approach the late months of 2023 and into 2024, the real estate market is poised for potential changes due to rising interest rates. Whether you’re considering buying or selling a property or have an upcoming mortgage renewal, understanding the effects of these interest rate shifts is crucial. This article delves into what rising interest rates mean for buyers, sellers, and homeowners during this period.

Effects on Buyers: Navigating Affordability Challenges

The increasing interest rates can have a significant impact on prospective home buyers. Higher rates mean increased borrowing costs, potentially reducing affordability for new buyers. However, strategies such as locking in rates and exploring different loan options can help mitigate the challenges.

Effects on Sellers: Adapting to Changing Market Dynamics

For sellers, rising interest rates can mean a potential slowdown in demand as higher mortgage costs may deter some buyers. To adapt, sellers must strategically price their properties and focus on marketing efforts to attract serious buyers.

Mortgage Renewals: Evaluating Financial Plans

Homeowners with mortgages up for renewal during this period should carefully consider their options. Rising interest rates could lead to higher monthly payments upon renewal. Exploring early renewal or refinancing can help homeowners manage potential financial impacts.

As the effects of rising interest rates can vary depending on your role in the real estate market, it’s essential to be prepared and informed. Let’s delve deeper into each scenario:

Effects on Buyers: Navigating Affordability Challenges

The prospect of higher interest rates may impact your purchasing power. To mitigate affordability challenges:

  • Consider Fixed Rates: Fixed-rate mortgages can provide stability by locking in your interest rate. This shields you from potential rate hikes during the term of the loan.
  • Explore Loan Options: Different loan types, such as adjustable-rate mortgages (ARMs), may offer lower initial rates. However, be cautious of potential rate adjustments in the future.
  • alculate Your Budget: With higher rates, calculate how much you can afford in monthly payments, factoring in potential rate increases over time.

Effects on Sellers: Adapting to Changing Market Dynamics

Selling a property in a rising interest rate environment requires careful planning:

  • Set Realistic Prices: Understand that buyers’ purchasing power might be reduced due to higher rates. Price your property competitively to attract serious buyers.
  • Highlight Unique Features: Emphasize the unique selling points of your property to differentiate it in a potentially more competitive market.
  • Be Patient: The sales process might take longer as buyers assess their options. Patience and effective marketing will be essential.

Mortgage Renewals: Evaluating Financial Plans

Homeowners facing mortgage renewals can take proactive steps:

  • Review Terms: Understand the terms of your current mortgage and any potential rate adjustments upon renewal.
  • Explore Early Renewal: Consider renewing your mortgage early to secure a lower rate before further increases.
  • Refinancing: If you’re concerned about higher payments, explore refinancing options to secure a more favourable rate.

As interest rates rise in late 2023 and into 2024, the real estate landscape is set for changes. Buyers, sellers, and homeowners should be aware of the effects these shifts can bring. Buyers need to navigate affordability challenges, sellers must adapt to changing market dynamics, and homeowners should evaluate their financial plans. By understanding these impacts and being prepared, you can make informed decisions in the evolving real estate market. Remember, staying informed and seeking professional advice are crucial steps in making the best choices for your real estate journey.

Jul 13
0
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Sustainable Homes: Enhancing Energy Efficiency, and Value

By | For Buyers, For Homeowners, For Sellers
In an era of increasing environmental awareness, sustainable homes are gaining traction as a vital component of a greener future. This blog post explores current best practices in creating sustainable and energy-efficient homes. By discussing renewable energy options, energy-efficient upgrades, the impact on property values, and the role of green features, we’ll shed light on how homeowners can embrace sustainability while reaping multiple benefits.


Harnessing Renewable Energy:

Renewable energy sources offer an eco-friendly alternative to traditional energy generation methods. Among these, solar power has emerged as a leading contender in the quest for sustainable homes. By installing solar panels, homeowners can tap into the sun’s abundant energy, reducing reliance on fossil fuels and minimizing their carbon footprint. Integrating solar panels contributes to environmental sustainability and offers long-term financial advantages. Through incentives and subsidies, homeowners can significantly offset the upfront costs, potentially achieving substantial savings on energy bills over the system’s lifespan. Additionally, solar-powered homes can enjoy increased resilience during power outages, as they can continue to generate electricity even when the grid is down.


Embracing Energy-Efficient Upgrades:

Energy-efficient upgrades are crucial in reducing a home’s energy consumption and environmental impact. Homeowners can significantly enhance energy efficiency and improve comfort by implementing various measures. One notable area for improvement is lighting, where transitioning to energy-efficient LED bulbs can yield substantial energy savings while providing superior quality and a longer lifespan. Another valuable upgrade is the installation of smart thermostats, enabling precise temperature control and optimized energy usage. Energy-efficient appliances like refrigerators, washing machines, and HVAC systems can reduce energy consumption. Moreover, investments in proper insulation and energy-efficient windows can enhance a home’s thermal performance, minimizing heat loss during winter and heat gain during summer. These upgrades reduce utility costs and create a more comfortable living environment.


Positive Impact on Property Values:

Integrating sustainable features in a home can positively impact its value and appeal to prospective buyers. Increasingly, homebuyers prioritize energy efficiency and environmental considerations when making purchasing decisions. Homes equipped with energy-efficient features, such as solar panels, high-performance insulation, and smart home technologies, often command higher resale values and enjoy shorter time on the market. Certifications such as LEED (Leadership in Energy and Environmental Design) or ENERGY STAR provide a stamp of approval, assuring potential buyers of a home’s sustainable credentials. These certifications validate a property’s energy efficiency, indoor air quality, and overall environmental performance, bolstering buyer confidence and contributing to a premium price. The growing pool of environmentally conscious buyers actively seeking sustainable homes makes investing in energy-efficient upgrades a wise choice for homeowners aiming to maximize property value.


The Role of Green Features:

Beyond renewable energy and energy-efficient upgrades, incorporating green features further enhances sustainability and environmental stewardship in homes. Water conservation measures, such as low-flow fixtures, rainwater harvesting systems, and drought-resistant landscaping, can significantly reduce water consumption. Furthermore, sustainable materials and practices in construction and renovation, such as recycled or locally sourced materials, eco-friendly paints, and energy-efficient building techniques, contribute to a home’s sustainability profile. The presence of green features, such as green roofs, living walls, or permeable pavement, reduces environmental impact and enhances a property’s aesthetic appeal and uniqueness. These features can create a harmonious blend of sustainability, functionality, and beauty, attracting environmentally conscious buyers who appreciate the holistic value proposition of a green home.


Sustainable homes are at the forefront of environmentally responsible living. Homeowners can make a positive difference in the environment and their financial well-being by harnessing renewable energy, embracing energy-efficient upgrades, recognizing the impact on property values, and integrating green features. Embracing sustainability in housing paves the way for a greener future and a more sustainable way of living.
Dec 28
0

What is the Impact of Canada’s Rising Interest Rates on Real Estate?

By | For Buyers, For Sellers, Real Estate

Homeowners and potential buyers closely watch the Bank of Canada’s interest rates. The interest rate rose for the first time in four years in March 2022, and another wasn’t far behind in October 2022.

The interest rate after the October and December increases was at 4.25%, and homeowners can expect a significant impact. Here are a few ways homeowners and prospective buyers will feel the pinch.

 

Why is the Interest Rate on Borrowing Going Up?

Several factors are contributing to the increase in the interest rate. At the start of the pandemic, the Bank of Canada offered some relief by dropping the interest rate to 0.25%. Borrowers then didn’t have to pay as much interest on their loans and mortgages.

However, in June 2022, we saw inflation of 8.1% – the highest it’s gone in thirty-nine years. So experts think there’s a link between the reduced interest in 2020 and 2021 and rising inflation.

Add both those factors to several mortgage providers’ stocks going down, and it’s a perfect recipe for costly mortgages.

Homeowners and prospective buyers will see the impact firsthand in their mortgages.

 

What Does the Interest Rate Increase Mean for New Buyers?

Before being approved for a mortgage to start shopping for your home, you must pass a stress test if your down payment is less than 20%. The purpose of the stress test is to make borrowers prove they can pay their mortgage expenses.

Borrowers need to prove that they can pay either the rate offered by their mortgage lender or the Bank of Canada’s five-year fixed rate – whichever is higher. High-interest rates make the stress test more challenging to pass.

Happy property owners shaking hands with real estate broker after a deal. Young couple handshaking real estate agent after signing contract.

What Does the Interest Rate Increase Mean for Mortgage Renewal?

The interest rates will affect your financial plans if you’re due for a mortgage renewal. Depending on your mortgage type – variable or fixed – the interest rate increase will affect you differently.

Interest Increase for Variable Mortgages

If your current mortgage is at a variable rate, you’ll notice the increases right away. While it’s possible that your mortgage payment won’t increase, you’ll be paying more towards interest rather than principal.

Interest Increase for Fixed Mortgages

With a fixed mortgage rate, you’re locked in at the interest rate you agreed upon at the beginning of your mortgage term. The rate won’t change until you’re up for renewal – that’s when you’ll see the increase.

 

How to Overcome the Interest Rate Increase?

Even though prime rates are on the rise, there are options for securing financing. Regardless of who your lender is, you can talk to other lenders to find the lowest rate possible.

When you change lenders, however, you’ll have to go through another stress test, and if you break your current term early to switch lenders, they can charge a fee.

When it’s time to renew your mortgage, and you’re optimistic about interest rates going down, a shorter mortgage term of three years can let you reassess sooner. A fixed-rate mortgage would lock you into this high-interest rate. A variable mortgage renewal will be a favourable decision if the rates go down, but if they continue to climb, you’ll be stuck paying less against your principal.

 

Bottom Line

There’s no right or wrong mortgage term to choose – no one can see the future. In the next few years, the interest rates look promising and will go down again. If you have a mortgage broker you trust, they can guide you through the possible outcomes of either option or explain how it can affect you.

Need a resource to point you in the right direction? Sarasota Realty knows the market and the professionals you need to transform you into a homeowner. Contact us to explore listings and get started on the homebuying journey.

Oct 18
0

How to Prepare for Moving Day

By | For Buyers, For Sellers, Lifestyle

Packing up your whole life for moving day can be stressful. It’s more about strategy than you may think, and something always seems to go wrong. But there are some secrets to lifting the stress of moving day and making it manageable.

 

Moving is the Perfect Time to Purge

 

Moving day starts long before the day circled on the calendar. Going through all the books, art, plants, or odds and ends is a project. In the weeks up to moving day, it’s the best opportunity to see everything in front of you and ruthlessly donate, recycle, or give away.

You don’t need to bring everything you own with you. This is a vital thing to keep in mind when you’re downsizing.

 

What Moving Supplies Will You Need?

 

Free boxes you scrounged up from your favourite stores and tons of packing tape and bubble wrap are often the go-to packing supplies. While they’re a trusty option and are popular for a reason, they’re not the only option anymore.

Stackable bins are a great reusable option and are also great for storage when you get to your new home. They also have handles that cardboard boxes don’t have, so you are less likely to hurt yourself if you’re doing the moving yourself.

 

 

What’s the Best Moving Strategy?

 

Beyond the packing process, transport hacks make the move easier.

  • Have dollies handy. They make the process go a lot faster with fewer accidents or injuries.
  • Label everything. When everything’s packed up, it all looks the same. Differentiating between your kitchen items versus your office supplies will be challenging when you get to the new place, causing a dent in your morning coffee routine.
  • Make a list of everything you have to do. It’s easy for things to fall through the cracks when juggling every aspect of moving. A list will help you remember all the moving day essentials and miscellaneous tasks, like forwarding your mail and changing your address.

The most important thing to remember is that what you pack in the truck first will come out last. You should pack a box with all the necessities you’ll need right away last, so it’s the first box out.

 

Should You Hire a Moving Company or Do It Yourself?

 

Moving yourself can be miserable, but it can also be a significant money saver. If you want to round up your friends and pay them in food, that’s a budget-friendly way to move.

Hiring a moving company is more efficient. Movers are professionals. They carry out moves daily, are experts at taking care of large items, and have insurance. If hiring movers fits your budget, it’s a great option to save yourself time and potential injuries, and you won’t have to force your friends to help.

 

Bottom Line

 

While packing up and moving is stressful, home buying can be fun. Sarasota Realty has a wide variety of listings to suit your preferences and budget, so your home shopping is smooth and straightforward. Contact us, and our realtors can help you find the right property for you.

Aug 18
0

Fixer-Upper vs. Move-In Ready Homes: Which is Better?

By | For Buyers, Lifestyle

Hunting for a new home usually comes with a checklist of must-haves and features to avoid. One of the items at the top of that list is the state of readiness you want your new home to be in. Choosing something turn-key or a home that will require renovations both have their benefits and drawbacks.

To make your home search a little more focused, here are some of the pros and cons of shopping for fixer-uppers and move-in-ready homes to guide your search in the right direction for you.

 

What is a Fixer-Upper Home?

 

If you watch home renovation shows or have looked at fixer-upper homes before, you can picture what they likely look like. There are varying degrees of fixer-uppers. Sometimes the fixes are aesthetic because of dated styles, while others need complete overhauls.

While most fixer-uppers are completely livable, sometimes you need to do immediate updates for safety or comfort. Whether you need to install new windows before winter or want to knock down walls for flow, some fixes need priority over others.

 

Pros of a Fixer-Upper Home

 

  • You can personalize the house. When you’re buying a fixer-upper, it’s the perfect opportunity to add features that fit your specific needs.
  • It’s often a better value. Buying a home that needs a lot of work tends to be priced better than move-in-ready homes. If you factor in the time and money that will go into making your home complete, it’s often a better value.
  • It can be an investment opportunity. Flipping a fixer-upper can have excellent resale value if you follow home trends and stay on budget with fixes.

Cons of a Fixer-Upper Home

 

  • You never know what hidden problems lie. Even the most thorough home inspection can’t see through walls. If you’re buying older, there’s more significant potential for unexpected problems – asbestos, structural issues, code violations, and other problems need to be addressed immediately and can be costly.
  • You may not be able to move in immediately. Depending on the problems discovered and the intensity of the work that needs to be completed, living on-site may not be possible. Having an alternative temporary living situation may be necessary, but it can also be costly.
  • It’s a lot of work. Doing the whole project yourself can take up a lot of time and sweat equity – it’s a commitment to sacrificing nights and weekends to invest in your new home. Even if you hire contractors, you’ll be responsible for managing the renovations, which can be a time commitment.

 

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What is a Move-In Ready Home?

 

A move-in-ready home can mean as little as it’s immediately ready for occupancy, but more commonly, it means there are no significant renovations or cosmetic updates needed. Turn-key homes tend to have everything a homebuyer wants or needs already, so there’s no additional investment of time or money to put into the house.

 

Pros of a Move-In Ready Home

 

  • Easier to stay on budget. With a move-in-ready home, you don’t have to keep room in your budget for repairs or renovations.
  • It may be easier to get financing. Fixer-uppers can be riskier, so when applying for a mortgage, it’s more straightforward for you and your lender to secure financing on your home purchase.
  • Ready for move-in immediately. The home buying process can be long and tiring, so being able to move in right away and reap the benefits of your home is incredibly appealing to buyers.

 

Cons of a Move-In Ready Home

 

  • There’s lots of competition in the move-in ready market. A lot of other home buyers are looking at move-in-ready homes too. The sale of these homes can move at a fast pace. Be prepared to make decisions quickly, so you don’t miss out.
  • Less chance for customization. When shopping for move-in-ready homes, buyers don’t have the opportunity to customize their homes beyond decoration, basic painting, and furniture.
  • More costly to buy move-in ready. When shopping for a move-in-ready home, you’re paying for convenience. Buying a home that’s turn-key is more expensive than buying a fixer-upper.

 

Bottom Line

 

Whatever you choose, Sarasota Realty has listings to show you the move-in-ready home you’ve been seeking or a fixer-upper that needs some extra attention. Contact us to discover all of our current listings.

 

Jul 25
0

5 Hidden Costs of Home Buying That First-Time Buyers Should Know

By | For Buyers

So, you’ve scraped together a down payment and are ready to get mortgage approval – once the bank gives you the okay, you can start actively house shopping! But hidden costs jump out at you throughout the process, even after you’ve secured and moved into your new home.

If you’ve purchased a home before, these costs aren’t a secret, but the associated fees are not so obvious when you’re taking your first steps into the housing market.

Here are a few major costs to factor into your home budget.

Home Inspection

Home inspections are necessary and worth every dollar – professionals have a trained eye for deficiencies and can help guide your negotiations. Once you have an inspection report, you have a greater sense of the home repairs you need to do sooner rather than later.

Did the inspector point out rotting shingles on your roof but only slight damage on your patio? It makes sense to follow the inspector’s recommendation and reference their report when making repairs.

Home Repairs and Updates

As perfect as your home is to you when you buy, things are bound to go wrong. Lived-in homes need repair and cosmetic updates from time to time. Experts recommend having 1%-4% of the home’s value stashed away for home repairs.

Emergency repairs can be expensive, so it’s vital to have a cushion at hand to soften the financial blow. There’s nothing worse than having your furnace go out on a -40° day and having to put it on a credit card.

Home Appliances

If the previous owner of the home is taking their appliances with them when they leave, you need to factor replacement costs into your budget.

  • Washer and dryer
  • Oven and stove
  • Dishwasher
  • Refrigerator, and
  • Microwaves

Appliances can be costly, especially if you’re going for high-end models for longevity. It’s a substantial up-front investment that will take up a significant portion of your budget.

 

Utilities

Going from renting or condo living to home ownership? For many renters, at least a portion of utilities are included, or they’re not in your name. If you’re in a condo, your condo fees take care of specific utilities.

Some utility costs to keep in mind are:

  • Internet
  • Electricity
  • Water and sewer
  • Natural gas
  • Garbage pickup, and more.

If you’re moving into a more rural property, major utility companies may charge more or not offer services altogether.

Home Insurance

Homeowner insurance differs from renter insurance – instead of simply insuring your belongings, you must insure your property for any possible damage. Your premiums can vary depending on any environmental hazards that your home is risking. And with the changing climate, premiums are going up.

You might need additional coverage for wildfire protection, flood protection, and any other hazards the insurance company deems appropriate.

Bottom Line

Buying a home costs more than the home itself. Small fees, purchases, and costs spring up during the homebuying process.

For guidance and professional knowledge of all the potential costs, Sarasota Realty is here to help you understand the costs that come with buying a home for the first time. Contact us to begin your home buying journey and use our expertise to plan for your finances.

Apr 21
0

5 Tips for Buying a Resale Condo

By | For Buyers

Buying a condo is different than buying a single-family home – there are benefits like reduced maintenance for you, on-site amenities, and more. But there are also some drawbacks, like monthly condo fees and condo boards.

Buying a condo is an excellent option if you need less space, want the ease of apartment living while owning an asset, or have enhanced security.

If you’re looking at buying a condo and want to know what to expect when buying a resale condo, here is some information to consider.

 

What are the Benefits of Buying a Resale Condo?

 

Having the opportunity to see what you’re going to get is a valuable opportunity that you miss out on with new-build condos. You can see exactly how the layout is, how functional the space is, and the building’s condition as a whole.

Because it’s an established building, you also have access to other financial information and inspection documents and can recognize any existing patterns in wear and tear of the building.

 

Tips for Buying a Resale Condo

 

What are some action steps to take during the condo-buying process?

 

Understand the Condo Fees and What They’re Used For

 

Condo fees are an essential part of condo maintenance. They go towards snow removal, groundskeeping and landscaping, garbage collection, and more. It’s vital to understand what you’re paying for to accurately compare when you shop around.

Find out if owners experienced an increase in condo fees in years past or if they anticipate fee hikes coming up to factor into your purchase decision.

 

Investigate Whether Special Assessments are Anticipated

 

Special assessments are additional charges on top of condo fees that owners must pay for extra maintenance costs. If the building has to replace the siding on the building, renovate a common area of the building, or any other significant project, it can put a dent in your budget.

 

Check if There is Any Remaining Warranty Coverage

 

Depending on the age of the building, there may still be warranty coverage on the unit. Try to find out what remains on the warranty and what deficiencies it covers. It’s also helpful to know if they have done any repairs under warranty in the past.

 

Have an Inspection

 

Even though you’re not shopping for a single-family home where an inspection examines the whole structure. you should still have a home inspection to check on the unit’s integrity. An inspector will write up a thorough report that indicates every potential repair or maintenance tasks you can expect to do immediately or in the future.

An inspection report is an essential tool to compare to other units you’re considering on your hunt for a new home.

 

What is the Seller Including in the Purchase Price?

 

Check with the seller’s realtor to outline what exactly the seller includes with the purchase of the unit. Will appliances or furniture be included in the sale?

You should also investigate all fees – is there a fee for parking or storage? Is the use of amenities included in the purchase, or do you have to pay separately? It would help if you understood any other charges above the cost of the unit before making a purchasing decision.

 

Bottom Line

 

Purchasing a condo can be complex in different ways than buying a house. These are some tips to help you through the process, but you also need an experienced realtor to help. If you’re in the market for a condo and need an expert to make the process seamless, reach out to our team for help.

 

Mar 23
0

Why Should You Hire a Real Estate Professional?

By | For Buyers, For Sellers

Buying a home can seem straightforward – go to a few open houses, find a home you like, put in an offer, and move in. Or if you’re selling, it could seem like enough to put out an advertisement and find a buyer.

But it’s not so easy. There’s more to buying a home than getting mortgage approval. You and a potential buyer or seller have different interests, and managing a big purchase can be high stakes.

Having a real estate professional on both sides of the selling-buying process helps things run smoothly in several ways.

 

1.    Realtors Know the Market

 

Experienced realtors have a grasp of the ebb and flow of the housing market and can help time your purchase or sale to maximize the benefits. Keeping your home on the market too long without a sale makes the house seem undesirable to buyers. Getting the timing right is an art that realtors are constantly perfecting.

 

2.    Realtors Know How to Negotiate

 

Real estate is all about negotiation – buyers want to spend the least money they can, while sellers want to come out on top. Not only will your realtor advocate for your best interests, but they have superior negotiation tactics that can help you save or make money.

 

3.    Realtors Can Tell You the Fair Value of the Home

 

If you’re selling your existing home, the market could be different from when you first purchased, changing its value. Realtors compare other listings in your area with upgrades and renovations you’ve done on your home and get a fair price point.

If you’re buying without a real estate professional, it can be tough to determine if a home is overpriced. Their eye for detail will notice even small things that can affect the house’s value and get you the best deal.

 

4.     Realtors Can Make Your Home Attractive to Buyers

 

Selling your home is just as much an art as it is a science. Real estate professionals know what buyers are looking for and how to appeal to potential buyers. Whether through staging, virtual staging, simple upgrades to do, or what paint to choose, realtors can help you elevate your property before you sell.

 

Bottom Line

 

Buying and selling a home without a real estate agent is a gamble you shouldn’t make. Beyond vetting buyers and sellers, they’re a sounding board, know all the legalities, and have contacts with lawyers and mortgage brokers to help ease the process.

If you want to discuss the sale or purchase of a home, contact us to start finding the ideal home for you.

 

Feb 20
0

3 Tips for Moving into a New Neighbourhood

By | For Buyers, Lifestyle

Buying a home in a new neighbourhood – especially one you’re unfamiliar with – can be exciting and adventurous. It becomes more than simply deciding room layouts and choosing new paint colours. The world outside your new home can sometimes be wildly different than what you’re used to.

Settling into a new environment can be seamless, and if integrating into your new community is important to you, here are some tips for finding your place in your new neighbourhood.

 

1.    Take a Walk Around Your New Neighbourhood

 

Going for a stroll just for the sake of it can be a great stress reliever, but it will also help you learn the neighbourhood. You could stumble on a walking trail, a man-made lake, or other unknowns, but walking around is the best way to get the lay of the land.

This is also the perfect time to introduce yourself to your new neighbours. Be open and friendly – you don’t need to be best friends, but it’s always a plus to be neighbours who look out for each other.

 

2.    Find the Amenities Close to You

 

Finding your nearest grocery store or gas station is one thing, but your new community likely has nearby shops and restaurants to explore. Dedicate some time finding your favourite coffee spots, take-out places, and recreation centres. Not only can you meet new people, but you will slowly get to know the gems in your neighbourhood.

Whatever your interests or lifestyle, finding small, local shops to support, you’ll learn the history and stories of the people who live there, which is something you can’t get at a big box store.

 

3.    Be a Tourist in Your New Neighbourhood

 

Starting in a new place is the perfect opportunity to explore. Whether you choose to attend local events, visit popular hot spots in your new area, or check out a famous museum, make a list of all the best parts of your new neighbourhood and check them out.

You can use the internet to help you choose or get recommendations from people you meet, but either way, you’ll come away with ideas you wouldn’t get on your own.

 

What’s the Best Way to Get Comfortable in a New Neighbourhood?

 

Outside of your house, knowing your community is what will make you feel most at home. Of course, your home needs to be an escape and a haven for you and your family, but you can’t stay inside forever.

If you’re introverted and shy, start small and know that many other people in your new community are like you. Once you start engaging in the community – no matter how intensely – you’re going to be right at home.

If you’re planning on moving to a new neighbourhood, contact our expert team at Sarasota Realty to help make the process painless and easy.

Sep 23
0

Questions to Ask Your Realtor Before Buying a Home

By | For Buyers

There is a lot to consider when looking at homes, and it’s easy for things to fall through the cracks. That’s exactly what a good real estate agent is there for. You want them to guide you through the process and think of the things that you may not know.

Your real estate agent is a wealth of knowledge and the best resource you have when navigating the home-buying procedure. Here are some of the fundamental questions to ask your real estate agent during your home buying experience.

What’s the First Step When Buying a Home?

If you’re buying your first home or unfamiliar with the home buying process, it can be confusing to know where to start. Do you begin with a mortgage pre-approval? Do you start by looking at homes to find what you like?

Your agent is there to guide you through the ups and downs and through the proper steps to get where you want to be: in a new home. They’ll be able to give insight on where to start and likely have some contacts to help with the finer details like mortgage experts or lawyers.

How Does the Home Buying Process Work?

Your home is likely the largest purchase you will ever make. You’re going to want to know all the details you need to understand just what you’re getting yourself into. That’s where your real estate agent comes in. They have the knowledge you can use to understand the process and diminish stress about the things you don’t know.

If you’re a first-time home-buyer, it can be a daunting process. The best way to lessen the anxieties is to find a professional you trust and lean on them for their expertise.

What Questions About the Home Buying Process Have I Missed?

Once you have gotten the answers to the questions you’ve asked, it’s time to ask your real estate agent to fill in the blanks. There is a lot to consider, so it’s natural to forget some questions to ask. So, ask your real estate agent what you’ve forgotten.

Buying a property comes with many complicated moving parts – from mortgages to offers and possessions – so let your agent spell out the rest of what you need to know. It will make the home-buying process a lot smoother.

SARASOTA REALTY p. (780) 460 2222 f. (780) 458 4821 25 Carleton Drive St. Albert, Alberta T8N 7K9