SELLERS

Now’s the time to spring into action if you’re a prospective home seller. Getting your home prepared for the spring market now, will help you move quickly and efficiently  when the time comes to list. Spring is the optimum time to sell a home, as the largest numbers of buyers are actively searching for a new home during the months of April, May, and June. If you’re looking for tips, tricks, and ideas to get your home market ready, then you’ve come to the right place!

Purge & Pack:

What better way to clear out the winter blues, than to clear out the clutter in your home. Take this as a reason to stay warm inside, as you begin to go through attics, closets, basement, and/or garages to determine what to keep, what to donate, and what could be packed away early. Decluttering and depersonalizing are both important steps in preparing your home. Boxing up items will make your space look larger, and neater when it comes time to putting your house on the market, and will stop you from unnecessarily moving unneeded clutter from your current home, to the next.

Renovations:

Major renovations aren’t necessary to sell your home, however small, DIY projects around the house can increase value, while also making your home look more appeal to potential buyers. Some quick fixes can include, but aren’t limited to: replacing old doorknobs, replacing stray cabinet handles to ensure consistency across your kitchen, replacing the caulk in your bathroom (tub, shower, around the sink), updating light fixtures and ensuring all bulbs have been replaced, or even repainting the trim throughout your house. These small projects and many others can deliver big returns in the end. For more small DIY home projects/renovations that you could use in your home, check sites like Pinterest, for details.

Clean:

Let yourself be stung by the “spring cleaning” bug early, and start looking at the “overlooked” areas of your home. Open the windows to let the fresh air circulate, make sure your baseboards are clean, and your heaters are dust free. Adding that bit of sparkle is free, and goes a long way when it comes to selling your home. Wash the inside and outside of all your windows, and be sure to polish up all mirrors, as that extra attention both brightens your home, and makes it more inviting for buyers. Once you’ve cleaned all those hard to reach places, prepare yourself for the staging of your home.

Stage

The most important part of selling your home, is to set the stage so potential buyers can fantasize, and envision your home as their own. Once your home is on the market, you’ll need to be keeping it as clean as possible, almost encouraging the idea that “no one lives here”. Home staging is about creating an illusion, to create a comfortable, inviting atmosphere, that allows potential buyers to feel at “home” in your home. Use towels, throws, and pillows in light, soft spring colours (such as yellows, pinks, lavender, blues) to lighten up a room, and set up fresh flowers (such as lilacs) to add a gentle, natural fragrance to your home.

Contact A Realtor:

Realtors are professionals when it comes to the processes of both buying, and selling homes.  Your choice of a listing agent can make a big difference in the time it takes to sell your home, and the profits that you may see from that sale. Ensuring that you select a realtor with a great marketing plan, and local knowledge is important for you to get the most out of your home, and during your search for a new one. Realtors have a wealth of knowledge, and experience, so while you are in search, take the recommendations that come from friends and family into consideration, and interview those that have the right experience with homes in your price range. Finding a good realtor is a vital aspect of listing your home, and knowing you’ll have their support and dedication leading up to, and throughout your listing, and well as during the final sale and paperwork is always a relief.

BUYERS

Spring hasn’t begun to crack through the winter thaw, but that doesn’t mean there’s time to wait if you’re planning on purchasing a home this spring. Be prepared for the Spring Market, and ensure your home buying experience is a great one by organizing your paper work, mortgages, ideal houses, and pricing ahead of time. Spring into this home-buying season ready to buy, so that house you’ve been dreaming of, doesn’t land in the hands of another buyer.

Credit Check

A credit score is a numerical representation of your credit report, and having good credit is like gold when obtaining a mortgage. Spend some time understanding where your credit falls, as credit scores range from 300-850, and the higher the score you have, the better. If there are any issues with your credit score, now is the time to work at repairing them (paying bills on time, getting a raise in your credit limit etc.) It’s not recommended to begin opening new credit cards, as opening new credit may hurt your score in applying for a mortgage, or lower your opportunity of getting the best rate on a loan.

Mortgages & Interest Rates

A key to a good mortgage, is a lower interest rate. However, not everyone gets the same interest rate on a mortgage, as it is dependent on your credit, and your mortgage lender. Talk to a mortgage lender to learn if you can afford to buy a home at this point, what the price range you can afford is, and what interest rates are currently being offered. Make an appointment with your bank provider, or with a mortgage associate to get a full understanding of how mortgages work, and what you should expect. Once you’ve had these meetings, and your finances have been reviewed, you can be “pre-approved” for a mortgage and confidently show sellers that you can buy their home. To prepare to get pre-approved, gather together your financial documents (listed below) in advance of the actual home-purchase.

• Last 2 years of tax returns
• T4 forms for the past 2 years
• Paycheck stubs from the past 6 months
• Proof of rent and/or mortgage payments for the past year
• A list of all debts, student loans, credit cards, automobile loans etc.
• A list of all assets (bank statements, automobile titles, investments etc.)

Contact A Realtor:

Realtors are professionals when it comes to the processes of both buying, and selling homes.  Your choice of realtor can make the difference between finding the house you like, and finding the house you LOVE.  Realtors have a wealth of knowledge, and experience, so while you are in search, take the recommendations that come from friends and family into consideration, and interview those that have the right experience for you. You want to look for an agent who is knowledgeable, motivated, and can assist you with your goal of homeownership. Finding a good realtor is a vital to your end goal of purchasing a home.

Have you ever felt that a room was just "off" somehow, but you just couldn't place what it was? The keys to a well arranged living room is comfort, functionality, and walkability.

Click here to see the full article.

With a new year comes thoughts of how to renovate, refresh, and redecorate our living spaces. And where better to start than in the heart and hearth of the home, the kitchen?

Check out the 5 kitchen trends poised to make a huge splash in 2018 here.

‘Shortage’ of homes for sale pushes Ottawa property prices up 6.8% in Q4: Royal LePage

Ottawa is planning to revitalize downtown's Spark Street, and they're looking for ideas on how the pedestrian mall should be updated.

Click here to view the 360-degree video of Sparks Street.

An Era of Change: 2018 

Canadian real estate is in an era of change.  2017 closed with a bang, as we saw some of the largest increases in real estate prices in nearly a decade. The curiosity now turns to 2018, and what can we expect to see in Ottawa, and across Canada.

Ottawa is climbing the list as a hot spot for home buyers this year, joining popular cities like Toronto, Montreal and Vancouver.  Ottawa may hold an even higher interest for buyers, where real estate prices are significantly lower than areas such as Toronto and Vancouver. The pool of potential home buyers shows a steady increase  by individuals able to work remotely  who are not limited by commute time when choosing where to buy a home.  This growth trend is expected to continue throughout 2018. With a variety in communities, opportunities, and availability, the Ottawa area has a lot to offer to potential buyers. Whether they’re looking for a quiet home in the suburbs of Kanata or Barrhaven, a property in one of the many smaller communities within a 30 minute drive (Carleton Place, Arnprior, Manotick, Stittsville, Carp, just to name a few) or condo in the Byward Market, Westboro, Centretown, or the Glebe;  Ottawa creates new opportunities for growth and change.

Experts are predicting that real estate markets in Quebec, Alberta, and British Columbia will likely see a solid year of increase, while the market in Atlantic Canada will remain stable and subdued. As the changes to mortgage rules came into effect January 1, 2018, we will likely begin see a shift in the pace of the market here in the Ottawa real estate market, and across the country.  While impact of the regulations will not go unnoticed, Ottawa prices are expected to rise, albeit at a slower pace compared to 2017.  Experts predict a less than a 10% increase in the value of homes this year; protecting home owner’s equity, while giving home buyers an opportunity to find affordable housing in and around the nation’s capital.

2017 was dubbed the “the Year of the Condo”  as many real estate markets across Canada saw a significant boost in condominium sales; we may continue to see a shift from large homes, to smaller living spaces. Condominiums will be 2018’s hot trend, experts say, driven by millennials entering the real estate market and by baby-boomers downsizing.  Ottawa offers a variety of prospects in this regard, with the focus shifting to “life-style”, not just what’s behind the front door.   As interest in these smaller living spaces grows, we’re seeing more buyers searching for the “right fit”, as their community becomes an important extension of their home.

This factor gives Ottawa an advantage across the city, with its’ diverse and ever-growing communities.  Almost every community across the city holds its’ own unique possibilities, and people, while the vast availability ensures that everyone can find a place to call home.  Reach out to us at info@teamrealty.ca for detailed market statistics, neighhourhood trends and information about what 2018 will hold for home buyers and sellers alike.  Check in with your Realtor, your dream home may be just around the corner!