If you are thinking of buying a home for the first time or if you have been out of the market for awhile, there are a lot of things to consider before you start home shopping!
Here is our list of to-do’s to get the process started:
Get pre-approved and decide on budget!
Book an appointment with your lender or mortgage broker to discuss your plans before you even start seriously viewing properties. There is nothing worse than falling in love with a house only to find out that it doesn’t fit your budget.
Knowing the price point of properties you are pre-approved for helps us to narrow the search so we are showing you homes that will fall into the right range.
Your lender will need your employment/salary info and the full picture of your financial situation so they can best advise you as far as price range. Having all of the paper work done in advance will save you time & make the final approval process run more smoothly when it comes time for an offer. They will also guide you as far as the amount of your down payment and what is required for your mortgage.
Know the Costs Involved
There is more to consider than just the purchase price of a home. You need to factor in property taxes, utilities, and condo fees where applicable. Your monthly costs are important to know to determine not just how much you can afford, meaning your pre-approved budget, but how much you are comfortable allocating to home expenses.
There are also costs that go along with making the purchase including your home inspections, legal fees, and land titles transfer fees and the deposit portion of your down payment. With the possible exception of property taxes depending on how you pay those, these expenses are all out of pocket, meaning you have to have the cash accessible as they can’t be rolled into your mortgage.
There are a number of great apps that can help you calculate those expenses so you have an idea of the numbers in advance.
Create your “wants & needs” list
Make a list of what things you want in your next home and what areas appeal to you. Do you love entertaining and the space must have a gourmet kitchen & open concept living spaces? Do you have school age children and the school district is of the utmost importance? Do you have pets and a fenced yard or access to park space/walking paths is a must? Is it number of bedrooms/bathrooms that are most important….or a master bedroom with separate ensuite bath perhaps? Do you want to be able to walk or bike to work so proximity is a priority? Whatever the things are that matter to you most are the starting point for the house hunting process and that all helps us to choose the best possibilities to begin with. Your time is valuable so we ant to be sure that we are choosing the best houses to fit your wants and needs. Of course some compromise is inevitable but we want to help you find the home that checks off the most boxes!
Why Hire a Realtor®?
Because we understand the local market and have the tools and knowledge to guide you through the process, from the first home viewing to the day you take possession of your new home. We negotiate with the sellers agent on your behalf and liaison with your lender, lawyer, home inspectors, appraisers etc and make your home purchase as seamless as possible for you. Simply put we are your advocate!
If you are ready to start looking for your first home, your dream home or even just looking to make a change we are here to help you make the right move.
If you have questions about anything real estate, whether it’s buying, selling or looking to build a new home we have answers!
There are a lot of moving parts in the purchase of a home and assembling a good team that you are happy working with is really important! Of course finding an agent to work with to help you find that home is the first thing you may think about but the “team” also consists of a Mortgage Broker, Home inspector and a real estate Lawyer. We can help guide you through that process and refer you to great qualified people in those industries as well, and we will talk about that in Part II of this blog.
So first, choosing your real estate agent! The whole point of working with a real estate agent is to have a knowledgeable professional represent your interests throughout the home-buying process, from identifying possible homes to closing the deal. So you want to find an agent who has your priorities and best interests at heart.
What things should you consider when you are choosing your agent?
Compatibility: Is the agent someone you would enjoy working with? You’re not looking for a new best friend, but you’ll spend a lot of time with your agent as you view homes, discuss strategy, fill out paperwork, and the myriad of other activities involved in finding & buying the right …or “right for now” home.
Understanding: It’s important that your agent “gets” what you’re looking for in a home. Otherwise, you’ll both waste your time looking at properties that aren’t a good fit for you…that being said it usually takes looking at a few homes to narrow down your preferences and really get a feel for what you are liking…or not!
Availability: Look for an agent who’ll work with your schedule. You don’t want to find yourself missing opportunities because you can never find a common time to meet. That is one of the benefits we offer as a team….sometimes you get both of us but if one isn’t available the other one is. We like to say you get 2 for 1 when you choose the W2 team!
Trustworthiness: Your agent has what we call a “fiduciary duty” to you; that means your relationship is based on trust and confidence. You need to work with someone you trust to deal with you fairly, to keep your confidential information….well confidential. And to represent you with both honesty and integrity...that should go without saying.
We would also add to this list that you should feel that your agent will work well in communicating with both the seller of a property when required and the seller’s agent through the process of negotiating a purchase on your behalf. Having good communication skills and a positive working relationship with all parties involved will be helpful in producing a good end result!
We thoroughly enjoy the process of working with our clients to find the perfect home and we want them to know that we are there to help no matter how long it takes or how many houses we need to see until we find the right one. That’s what you need to feel when you choose your agent!
If you are starting the process of looking for a home or condo in the Regina area, and have questions, whether it is new or resale, we are here to help you make the right move.
Whether you’re buying or selling a home, it’s important to understand from the outset how professional representation can help you at every step of the process.
Buying or selling a home is a major financial (and emotional) undertaking and
your REALTOR® is more than just a "salesperson".....we act on your behalf as your advocate, providing you with professional advice and guidance.
While the Internet has opened up a world of information not previously available to consumers, the data on listings available for sale, while interesting, is only relevant in context in our local market. In a competitive market, whether you are buying or selling, you need the most current information about what has sold or is currently for sale, any pertinent changes in pricing, as well as any addiotnal information we have about specific properties beyond the listing details.
The way to ensure you have that information is by enlisting the help of a REALTOR®.
Buying a Home:
As a buyer, there are many advantages to having a REALTOR® work with you:
We simplify the process of finding you the perfect place by matching up properties that fit with your criteria & arrange all property showings. As buying or selling your home is a very personal transaction, many people tend to feel more comfortable using an agent as a liaison rather than having to deal face to face with potential buyers or sellers. The best part is it doesn't cost you, the buyer, anything to have a REALTOR® work on your behalf as buyer’s agent is compensated via a percentage of the seller’s brokerage commission.
Once we find the right property for you, we will develop a negotiation strategy based on our industry knowledge and experience, facilitate all the contracts and paperwork, as well as negotiate the purchase on your behalf including price, possession, inclusions & any conditions to the purchase.
We can recommend industry professionals, such as mortgage brokers, certified home inspectors, real estate lawyers, insurance agents, movers, & even proven contractors for any projects that need to be addressed. We will be with you through your home inspection and will help guide you through that process as well.
We also work closely with all parties involved in your home purchase & ensure that all documents are provided to your Lender & Lawyer.
Selling a Home:
When you're selling your home, you gain access to the most qualified buyers by being listed on the Multiple Listing Service. Whether you are buying or selling a home, MLS® is your best tool. By having your listing as part of the MLS® system you instantly have all of the REALTORS® in the city considering your property for their qualified buyers as well as national exposure to potential buyers relocating to the Regina area.
That is really the key....getting it in front of the highest number of people who are actively looking for a property with the same characteristics as yours, in your price range and neighbourhood.
We are your liaison with other local real estate agents to help promote your property & to work together to help affect a great end result for you!
One of the most important things we do is to help you price your home correctly through our experience and understanding of the market & comparable sales.
Great marketing of your property starts with professional photos & video tours. We will arrange that for you and we will help to advise you & give you our recommendations to ensure that your home & yard are photo ready and engaging to potential to buyers.
Because today's home buyers and sellers are so much better informed than in the past, our expertise and ability to communicate that, are becoming much more important. Our profession and the service we provide is evolving and we are becoming as much a "guide" through the process as a "salesperson".
We are your personal representative when you are buying or selling a home and we will be with you every step of the way!
We look forward to working with you & if you have questions about anything real estate, we are here to help! Email us at email@example.com
Did you know that divorce ranks as life’s second most stressful event?
Decisions over what to do with the family home and who is going where, create some of the most challenging conversations between couples who are parting ways.
Beyond the emotional ties to a family home, shared real estate comes with its own legal issues that need to be sorted out before the dust can settle, and you can both move on. It’s certainly more complicated than simply dividing up the furniture, TV’s and wall art.
However, with 38% of all Canadian marriages ending in divorce, you’re not alone in this and there are industry experts, who have been there too and understand the emotions & the difficult decisions to be made.
We are here to help you navigate the process and answer all of the questions you may have, and while it will likely never be easy, we believe that working with a team who has experience will make it less challenging for you. Or ideally, that’s our goal for you!
We have years of experience working with clients going through this super stressful time in their lives and our job as REALTORS® is to be a neutral 3rd party with the clear & simple goal in mind, of helping you move on with your lives.
Through our video series, W2 Talks: Divorce & Real Estate, we’re tackling some of the questions you may have, with help from professionals in the field, including a mortgage broker & family law attorney.
The Legal Aspect:
No matter who you contact first in the process, ultimately the financial details of your separation will dictate how you move forward, so a formal separation agreement will be paramount. To discuss the legal aspect of Separation/Divorce and how that impacts your decisions regarding your family home & what options you have, we were joined by
Foster Weisgerber, McDougall Gauley LLP, who shares his thoughts on where you should start.
When it comes to deciding what your next move is, there will be lots of questions….can I purchase another property right away, what can I afford….where do I even start with financing a new home? It’s usually the case that one or both spouses want to keep the house, but the real question is if either one of them can afford to do so on their own.
Of course, there are lots of good reasons to keep the family home if possible:
You have children and want to maintain the stability of the home.
The house is in an ideal location and near your work, family, and friends.
The market conditions aren’t ideal to sell.
You bought the house recently and haven’t had time to build equity.
The financial feasibility of that decision will come down to your specific situation and that’s where your lawyer & mortgage broker will help to guide you.
Mortgage & Financing:
When the time comes, the sale of your home or the purchase of a new home requires teamwork between your REALTOR® and your mortgage expert/lender. To help answer those questions and more, we were joined by Candice Carr from TMG: The Mortgage Group.
Our Closing Thoughts
Whether we, as REALTORS®, are your first point of contact or somewhere later in your process, we will be here with you through every step to help find you a new space to call home …and we will help to ensure you have access to all of the information & guidance you need as you move onto a new chapter in your life!
If you have any questions, general or specific to your situation, and would like to reach out for more information regarding your options, you can confidentially contact any of us with the details below, and your information will remain private.
If you would like to reach out to Foster for more information:
We were recently discussing pricing with a client and heard the words we have heard many times before……
” I would like to list my home at this amount and we need this amount out of it".
If only it were that simple, we would make it happen exactly that way! Unfortunately our job is to be objective and to provide the best advice we can to help put you in the best position to sell your home, not just to tell you what you want to hear.
It's so important to work with a REALTOR® that you trust has your best interests in mind and then to work together as a team to get the best result for you!
The process of determining a list price for a property requires consideration of a number of factors including:
1. Recent comparables (Active listings but more importantly recent Sales)
2. Market conditions
3. Specific Location (Neighbourhood, Large lot, Backing Greenspace, Proximity to Schools & Services, etc)
4. Condition and Features of the property
While we are always mindful of what a client needs or wants to see from the sale of their home, that can’t be the primary factor in pricing, but rather the deciding factor as to whether or not you want to sell at any given time. And keep in mind that your agent wants you to get the highest number possible for your home as well!
This is where it’s helpful to understand the process and trust the guidance your agent is giving you in regards to pricing.
Market Value is, simply put, what someone is willing to pay for a property on any given day, but overpricing can result in potential buyers overlooking the property completely because it falls outside their range. So rather than presenting an offer and finding some middle ground, they may eliminate it from their list of possibilities altogether.
So when is the best time to buy or sell…..whenever you need to or decide it’s time for a change! You never know who might be looking for a house or condo exactly like yours today and people move at all times of the year.
Of course, if you are a buyer today, there are lots of options for you!
If you need help determining the value of your home or if you would like to see what is in the market that might be of interest to you as a buyer, we’re here to help!
For any questions feel free to email us at firstname.lastname@example.org
Karin & Jen
Your Proven #YQR Real Estate Team
JC REALTY REGINA || 2241 Albert Street || Regina, SK
The New Year brings thoughts of change and whether you are purchasing a new home that requires extensive renovations or you just have a room in your existing home that could use an update, good planning helps to keep you focused and may also help you avoid costly mistakes. Yes we have all likely purchased that piece of furniture because it was fabulous and we had to have it….only to find it was not really comfortable or really didn’t fit in the room! Oops ;-)
This article from Houzz has some great tips to help you in the process and might just inspire you to action!
The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in
accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
The above information is from sources deemed reliable but should not be relied upon without independent verification.
The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA).
Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.