Blog

By: Cuzzolino Giddings Julie

March 2024 NewsLetter

As you may have noticed, reality shows are all the rage these days. Among the most popular are those where someone brings in an item — such as an antique watch or a collectable coin — and shows it to an appraiser.

They hope, of course, that the item will be worth a lot of money. Sometimes that’s exactly the case, and the participant jumps for joy!

Now you may not have any antiques or collectables lying around. But as a homeowner, you do have something that may be worth a lot more than you realize.

Your property.

It’s a smart idea to find out the current market value of your property — especially if you plan to move within the next year. After all, your home is not only where you live; it’s also an investment. Like any investment, you should know what it’s worth.

I recommend getting an evaluation done each year; or right away if you plan to sell soon. That way, you’ll know what your property would likely sell for in the current marketplace.

I’m happy to do that for you. Contact me anytime you’d like to schedule that evaluation.

Why Bargain Hunting is a Bad Idea

It seems like every month there is a new website offering deals on everything from electronics to travel. In fact, the “coupon industry” is booming.

This trend has conditioned people, more than ever before, to look for bargains and become determined to pay well below the market price for merchandise. There’s nothing wrong with that. We all want a deal!

But when it comes to shopping for a home, bargain hunting can be a bad idea.

First of all, the real estate market is competitive. The overwhelming majority of homes sell for a price that is at, or close to, their respective market values. Your chances of finding a property that is listed significantly below its market value is slim to none.

Secondly, if you become fixated on finding a bargain, you may not notice all the great properties on the market that are within your price range and meet your criteria.

In other words, you may inadvertently pass on what may, in fact, be your next dream home. So when shopping for a new home, focus on finding the right property at the right price, not on finding a bargain.

Should You Get a Pre-Sale Home Inspection?

Unless you’re in a seller’s market where you can expect many offers, quickly, it might make sense to get a pre-sale home inspection.

It can give your listing a competitive advantage.

What is it? It’s simply a professional inspection you get done on your own home. Assuming only a few inconsequential issues are identified, the passed inspection becomes an appealing selling feature of your listing. Buyers are likely to be more confident in making an offer when they know an inspection has been done.

What happens if an inspection reveals a concern?

Well, that issue would likely have been discovered by the buyer’s inspection anyway. At that point it could cause a potential problem with the deal. Now you can be proactive. You can either get the issue fixed, or factor it in during the sale. The point is, it doesn’t come as an unwelcome surprise to you or the buyer.

Getting a pre-sale home inspection is, in most cases, affordable. You’ll likely recover the cost, and then some, when you sell.

4 Golden Rules to Finding a Home You’ll Love

If you want or need to sell your current home, one thing you might be wondering is, “How will we find and buy our next dream home?” Fortunately, there’s no mystery to how to do that. Simply follow the “golden rules”!

1. Create a profile. Decide what kind of home you want to buy. Consider the type of building, size, number of bedrooms, property features, and other details. When you have a clear idea of what you’re looking for, you’re more likely to find it. You’ll also be less likely to waste time seeing listings that aren’t a good fit.

2. Target ideal neighbourhoods. Where do you want to live? What areas are likely to be a good fit with your desired lifestyle? What sort of neighbours do you want? What area features, such as schools, do you need close by?

3. Pre-arrange any required financing. Will you need a mortgage? Make those arrangements in advance. That will give you peace-of-mind in knowing you’ll be able to buy the home you want. Also, a pre-arranged mortgage makes your offers stronger.

4. Get on an alert list. Not all new listings are advertised or posted online right way. So, arrange to be immediately alerted to new listings that match your criteria. That way, you’ll be first in line.

Following these tips will go a long way toward getting you into the home of your dreams.

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By: Cuzzolino Giddings Julie

January 2024 Newsletter

In just about every movie featuring a desert, there is a scene where the hero finds a welcoming oasis.

Wouldn’t it be great if something like that existed in the real estate world?

You see, one of the challenges many people face when looking for answers to their real estate questions is information overload. All you have to do is click on a few websites, and you’ll be overrun by an avalanche of news, data, opinion, and stories.

That can make it difficult — to say the least! — to find the specific answers you need to make good decisions.

I understand that.

It’s one of the reasons I strive to be a kind of “oasis” for people looking to sell or buy a home. I aim to provide the exact information and advice you need, tailored to your unique situation.

And I do so always with your best interests in mind.

So, whenever you have a real estate question or need some advice, you don’t have to feel like you’re lost in the desert. Instead, you can reach out to me anytime.

Just think of me as your real estate information oasis!

Open House Questions Some Buyers Forget to Ask

An Open House is an event. And, like many events, it’s easy to get caught up in all the excitement and energy. In fact, when you visit an Open House, you might even end up rubbing elbows with other buyers who are there at the same time. It can feel like a party!

In an environment like that, it’s not unusual to forget to ask important questions about the property. Here are some of the most common:

How old is the roof?
How old is the furnace, air conditioner and other HVAC equipment?
How does the price compare to similar properties in the neighbourhood?
What are the characteristics of the neighbourhood? (Amenities, safety, traffic, access to public transit, property turnover, etc.)
What doesn’t come with the home? (Ask specifically about kitchen appliances, gas-connected BBQs, chandeliers, window coverings.)
Are there any potential impediments to the sale? (Tenants, outstanding liens, etc.)
Are there any outstanding maintenance issues, or repairs that need to be done? (For example, cracked ceramics on the foyer floor.
Are there any issues that impact the full use of the property? (Ask specifically about shared driveways or walkways, public “right of way” through the property, water drainage rights from neighbouring homes, etc.)

Yes, an Open House can feel like a frenzy, and if it’s a home you love, you might feel pressured to make an offer. But, it’s important to take the time to ask the right questions and consider your decision carefully. You don’t want to find out, too late, that there were questions you should have asked.

Should You Worry about Competing Listings?

Imagine you’ve been waiting for the right moment to sell your home and you’re finally ready to list it. But, just as you’re about to put up the sign, you notice that a few others FOR SALE signs have unexpectedly popped up in the neighbourhood.

Oh no! Now there are competing listings. Does that mean you should put your plan to sell your property on hold?

Not necessarily.

Just because comparable homes are for sale in the area doesn’t mean it’s not a good time to make your move. In fact, even if there is a sharp increase in local listings, active buyers might still outnumber properties available.

In that scenario, you’d likely get several interested buyers.

And, even if it’s a buyer’s market, this might still be the ideal time to sell, especially if your home has desirable features buyers want. You may even have an advantage over other listings on the market.

In addition, a large part of a successful sale is in how a property is marketed and promoted. With effective marketing, your home is more likely to be noticed by the right type of buyers... buyers who are actively looking for a property like yours.

So, waiting for the perfect moment to sell your home rarely makes sense. In most cases, the best time to list is now.

What’s the “Emotional” Return on Investment of a New Home?

Chances are, you've heard the expression, "Your home is your biggest investment." For most homeowners, that's true. So, when you're shopping for a new home, it's important to consider the financial opportunity of any purchase. Ideally, you want a home that is likely to increase in value over time.

In other words, you want a home with a strong potential return on investment.

But dollars aren’t the only type of return you should look for in a new home. Real estate is unique in that the “emotional” return is just as important as the financial return — and, in some cases, even more so.

Say, for example, you’re thinking of moving to a neighbourhood that is closer to work. In fact, you’ll cut your commuting time by an hour each day. Financially, that return on investment means little beyond some savings on gas. However, the emotional payoff can be very high, especially when you consider what you can do with that extra hour each day. Imagine what it would mean to spend more time with your kids or workout out at the gym more often.

So, considering the emotional return on investment when you’re moving is essential. It has a huge impact on your lifestyle and your enjoyment of the property.

How do you factor that in when selling your property and searching for your next dream home?

When you see a listed home you like, make a list of all the emotional benefits of living there. That list might include having a park nearby, living closer to friends or family, having a home office that isn’t the kitchen table, having more space to accommodate a growing family, and so forth.

Then, factor that list into your decision of whether or not to buy.

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By: Julie Cuzzolino Giddings

Buying Your Dream Home in a Hot Market

TAGS: HOMES IN TORONTO, HOUSE PRICES

Imagine finding the perfect home, only to discover there is serious interest from at least a dozen other buyers. It’s like scrambling for the last piece of cake at a buffet!

Fortunately, there are things you can do to help get the home you want, even in a highly competitive market. Here are just a few ideas:

Only view a few ideal properties at a time. If you see too many, and thus spread yourself too thin, you risk homes slipping through your fingers.
Be realistic about price. Focus on finding a great home that you can afford, rather than trying to find a bargain.
Consider homes that need some work. They get less interest than perfectly staged properties, yet can turn out to be a dream home.
Be prepared to make an offer with as few conditions as possible. An offer conditional on passing inspection is usually fine, but in a competitive situation, offers with other conditions will likely be turned down flat.
Make your decisions quickly. If there are likely to be other interested buyers, you want to get your offer in early.
Make the right offer. To win the deal, you want your offer to be as enticing as possible to the seller — especially when it comes to price.

Yes, it can be tough finding an ideal home in a hot market, but I can help. Give me a call and I’ll show you how.

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