BUYING

Buying your first home is one of the biggest financial decisions you’ll ever make. It can be quite emotional, as you are faced with a multitude of decisions. The average person will have many concerns about homeownership; however, the primary concern is whether you are actually prepared to own a home and if you qualify for a mortgage. The next concern is the location and finding a home those suits the needs of you and your family. Hiring a professional realtor to assist you in the process is important. I can help you prepare to move forward towards your home-purchasing goals.
Are you Ready?
Consider your reasons why you want to buy a home:
  • Want to start a family
  • Having a place of their own
  • No longer want to pay rent
  • Want to build equity
  • Upgrade to a big home due to growing family
  • More room to entertain
Before diving into your home search, it’s crucial to define your preferences. Consider factors like:
  • Location: City, suburbs, or countryside?
  • Community: North, South, East, or West?
  • Neighborhood: Established or new? Proximity to schools, recreational facilities, and essential services like transportation, daycares, libraries, stores, and entertainment.
By understanding your criteria upfront, you’ll streamline the process and find the perfect home more efficiently.
Pre-Loan Approval
Once you’ve defined your home preferences, your next step is to explore mortgage options. Pre-qualifying with a bank or mortgage company is essential, especially with recent changes in approval rules that may affect your eligibility. If you don’t have a mortgage agent, I can connect you with a trusted professional known for securing loan approvals successfully.
Helping you Every Step of The Way
My priority is to ensure your buying experience is seamless and successful. I will help you complete your financing, inspections and close on the transaction. With the resources and communication system available today, I can help you locate your perfect home and get you the keys to a home that is right for you

SELLING

It is often more emotional to sell a home than to buy a home, and the reason for selling your home may be a determining factor in the urgency of the sale. The urgency may also have an effect on the price of the property, that’s why it’s important to take the following factors that can influence the sale of your home into consideration:

Expenses
It is very important to first calculate the expenses that may be incurred while selling your home. This knowledge is absolutely necessary because it helps you to determine a good price for the house, as well as the potential profit that you can realize. The cost of selling your home may include things like commission to be paid to the agent, taxes, advertising costs or specific reports, such as a property inspection.

Pricing
The most important factor when putting your home on the market to sell is setting the right price. The price at which your property is marketed can make or break the deal. Over-pricing of the property may result in a smaller buyers’ pool and a prolonged stay on the market that will result in lower offers being submitted. On the other hand, under-pricing of the property may result in you losing money on your investment or a buyer offering an even lower amount due to a negative perception of the property or area.

How Much Is Your Home Worth?
In today’s market, the home prices are in a colossal competition with each other. With other homes going up for sale in your community, you face the competition of getting the right price for your home. I will help you price your home competitively to attract qualified buyers. I will generate a Comparative Market Analysis (CMA) report, which will show you a range of prices being paid for homes similar in your area. To know your home value, call me for a free market evaluation of your home.

Marketing On The MLS System
Upon listing your home with me, your home is immediately entered in the Multiple Listing Service (MLS) database. Almost immediately, every Realtor® will have access to view your home on the database. In addition, your property will be included in any printed MLS books. The MLS system is widely used by buyers in finding their next home. I will make sure your home gets noticed with my effective marketing strategy.

Location
You really cannot do much about the location of your property, but it does play a very important part in the marketability of your home. For this reason, these considerations must be thought about carefully:
  • That your property is priced in relation to other offers in your area;
  • The type of neighborhood your property located in (well-established, up-and-coming or transitional); or
  • The location of your property – urban or rural area.
Condition of Property
The condition of your property is always a factor in how quickly your home sells. If you want to acquire the highest market value, it’s advisable to elevate your home to be above the others in the same price range. Remember – first impression is a lasting one. Below, I have listed a few inexpensive ways to maximize your home’s curb appeal:
  • Keep your grass cut and yard clutter-free;
  • Apply a fresh coat of paint to any wooden fences or your front door if necessary;
  • Clean all windows inside and out;
  • Display fresh potted flowers or plants on your front porch (in Summer) and fresh greenery (in Winter);
  • Wash or paint your home’s exterior; and
  • Check all gutters and other exterior fashions to ensure they are firmly attached
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NEW MORTGAGE APPROVAL RULES

Ottawa introduced New Mortgage Requirements that have had an effect on how much you qualify for.
As of October 17, 2016, homebuyers must qualify for an interest rate greater than the conventional 5 year fixed posted rate, which is currently 4.64%.

To put it simply, you will qualify for a lesser mortgage amount.

For example, if your total household income is $100,000 under the current mortgage rules, you would qualify for roughly $650,000.

However, if your application is received after October 17, you would now only qualify for about $500,000 under the new requirements for mortgage pre-approval.

Mortgage applications received and approved before October 17 will honour the current rate and mortgage amount for up to 4 months.

HOME INSPECTION

Preparing Your Home for Inspection
When you are ready to sell your home, one of your first responsibilities is to prepare your home for inspection. As a buyer, you also want the reassurance that the home you will not get any unpleasant surprises weeks after moving into your dream home. It is wise to consider this long before you make the decision to sell. If you’re the type of homeowner who takes special care of your home over the years, this will help to make this process much easier and will reduce the need for a home inspector to make a return trip to the home (in which case, the homeowner is charged an addition fee). A typical home inspection lasts approximately three hours and the cost varies depending on the size of your property. A qualified home inspector will take the time to examine the essential aspects of your home, which include the drainage, the roof, foundation, flooring, basement, electrical, siding, walls and much more. The inspector will also look for asbestos, urea formaldehyde foam insulation, lead paint, wiring, fuel storage tanks, insects, mould and wood rot. Hiring a professionally-trained home inspector is advisable. Ask if they are members of a trade organization such as the Canadian Association of Home Inspectors. You will also want to check if they have Errors & Omission Insurance. After a full inspection, the inspector will prepare an inspection report which lists the details of his search and his findings. His report will list all the limitations so you will need to ensure that you read the report carefully. Below is a list of what a full inspection may entail:
  • All interior plumbing fixtures and faucets
  • Eaves, soffit, and fascia
  • Main water shut-off valves
  • Grading and drainage
  • Electrical panels, breakers, and fuses
  • Basement, foundation, and crawlspace
  • Water penetration and foundation movement
  • Decks, stoops, porches, walkways, and railings
  • Heating systems
  • Cooling systems
  • Water heating system
  • Drainage sump pumps with accessible floats
  • Electrical service line and meter box
  • Main disconnect and service amperage
  • Grounding and bonding
  • GFCIs and AFCIs
  • Fireplace damper door and hearth
  • Insulation and ventilation
  • Garage doors, safety sensors, and openers
What I can do…. As a professional Realtor® , I am here for you from start to finish and beyond. My job doesn’t stop once you find the home and sign on the dotted line. I do this by providing honesty, care and respect and I treat every deal as if it were me buying or selling. If you’re looking for that helping hand in Real Estate, I look forward to working with you.

BROkerage

Sharaff Awokoya (REALTOR)

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