Tips For Buying Or Selling A Home

Everyone has an abundance of questions when navigating the real estate market. Whether your a young adult buying your first condo in downtown Toronto, or a senior downsizing your home or moving to Niagara. This is why it's important to put all your home selling and home buying questions on paper. The list will grow, but rest assured they will get crossed off. Especially if you have a quality realty agent.

To help your find your way, we've put together a list of important steps you should not forget. Feel free to contact Giulia directly if you have any questions.

Purchasing A Home
Talk to a financial advisor before you decide to move forward on any purchase. The first step to finding your new home is getting a pre-approved mortgage. There is no grey area to what you can afford when it comes to buying property, so make sure you're not loosing your livelihood to afford a new home. Also, if you have sold your home in one area and are buying a new house / condo / townhouse in a totally different geographic area, ask your real estate agent for a referral.

• Develop a logistics and financial plan - a spread sheet would be easiest.

• Consider when would be the best time for you to purchase a new home, based on personal and financial cues.

• Be sure to allow extra time to visit as many properties as needed. This is something you should not compromise. When you enter the right home it will be a "gut feeling", and know it's your next home.

• Research different moving and maintaining fees, such as taxes, and be sure to note when they are due.

• Ask agent to give you full costs of closing the deal, i.E. Land transfer tax, lawyer's fees, moving costs.

• If your new house require renovations, research the costs and time required to make the changes to your new home.

Selling Your Home
• The first step to selling your home is finding the right agent. Be sure to ask for a solid and realistic plan / timeline for selling your house, condo or townhouse. A good real estate agent will give you great advice, such as whether you should buy or sell first, based on your situation.

• Before putting you home on the market, get a pre-inspection report. This will tell you if your house has any major deficiencies, if any, that may cause problems when it comes time to sell.

• After the report, priortize what needs to be done to the property in order to maximize your selling price. Even the little things like Painting, decluttering, or repairing a major appliance, can make a huge difference. For an idea of what to expect in terms of a return on your home renovations / purchases, please feel free to. download our guide here.

• Set a timeline for putting up the property for sale to maximize the cycles of real estate. Again, this is something that an experienced agent can help you with.

• Ask agent to provide closing costs so you can incorporate them in your spread sheet. Be sure to consider all aspects of the move - selling fees, moving costs, lawyer fees, etc.