Tag Archives: NOTL real estate

Avoid These Pitfalls when Selling Niagara on the Lake Real Estate

It is a great time to sell your home in Canada, if you are careful to avoid some common and basic mistakes. With a booming economy and a seller’s market, homes are in demand right now. Bidding wars have become far more common.

If you take too much for granted, you can have a difficult time selling your home. A qualified real estate agent can help you avoid costly mistakes. Here are some common pitfalls that a real estate professional can help you to avoid.

The Price Is Right

Be careful when pricing your home. Many homeowners make the cardinal mistake of believing their home is worth more than it is. Of course you want to get the most money possible out of your home- but do your research.

See what similar homes are getting on the market. Listen to advice from your Niagara on the Lake Realty agent. A realistic price can actually result in bidding wars that garner you more than you originally asked for.

Perception Determines Reality

Everyone wants to present the best view of their home possible. You will want to make sure you are being realistic.

Is that third bedroom actually more of a walk-in closet? Is your basement really finished or is there just an area rug and a coat of paint on the cement walls? A qualified real estate agent knows how to highlight the best parts of the homes and frame negatives in a way that will not disappoint potential buyers.

The Book and Its Cover

When you take photos for your home sale, do not use a low-definition cell phone camera. Avoid posting blurry, amateurish pictures. In today’s climate, your home photos should be high-definition and crystal clear.

Home buyers make a lot of preliminary decisions based on ads online. The better your photos are, the better a story you tell with them. With quality photography, you will be more likely to attract quality buyers.

Customize Your Marketing Plan

Sit down with your real estate agent and create a solid plan of action before you advertise your home. Standard listings and scripted sales plans will make you just another face in the crowd.

You will want to tailor and personalize your home’s marketing plan. Your listings must effectively highlight the property for buyers and tell them why they should come look at it. Choose a demographic to whom your home appeals, and strike out to market to those people.

These mistakes are easily avoided, but can be costly. The key is to use a qualified and knowledgeable real estate agent. If you are looking to sell your NOTL real estate, contact Kevin Stokes or another Niagara on the Lake Realty professional today!

 

 

Ideas to Help Sell Your Home in the Fall

The last days of summer are winding down. Many people who have a home on the market during this time or are thinking about listing may be nervous about the reputation autumn and winter have for declining home sales.

Just because a higher number of homes sell in the warmer months does not mean the other months do not have people looking to buy. Many families and retirees are still looking for a means to relocate during this time, so never count your house out for a fall sale.

If you really want to know how to gain interest for your house during the fall, then here are some handy strategies to use.

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Why Buying a Second Home Before Retirement Makes Sense

Most homeowners cannot imagine owning a second home. Those who think they do not have the means to buy on may even never consider the idea. If you are planning on retiring within the next ten years, buying a second home now that you plan on moving into several years down the road could actually end up being an incredible bargain.

Buy Now, Move Later

The reason this strategy makes sense is two-fold but with one explanation: housing prices are cheap right now, and so are current mortgage rates. If you plan on retiring, your intended new home’s price has an almost guaranteed chance of going up before you actually make the move. On top of that, selling your current home in a buyer’s market does not make sense either.

To have your cake and eat it too, buy a house while the market is still favorable and wait for both of your homes’ values to go up. By the time you are ready to move into the home, your current house will sell for much more than it is worth now. You can also use the cash generated from your sale to help pay down more of the principal for your mortgage and reduce the back-ended interest.

If You Rent It, They Will Come

This strategy may still not sound workable. Given the amount of interest paid in addition to the cost of maintenance as well as property taxes, the house would have to appreciate quite a bit in five years to break perfectly even.

If you were to rent out your home rather than leaving it vacant, you would actually have enough money each month to put down the majority of the mortgage payment. Thus, while you would have the financial ties to a mortgage, you would also have extra income rolling in before you retire. The rent you charge would also help cover the cost of maintenance and taxes.

Some Contingencies

Obviously, this method of purchasing a house to retire in would not work if you still had a significant mortgage to pay off. This strategy would also have to involve enough liquid assets to cover the down payment.

While a 30 year mortgage currently has amazing rates, a five or seven year adjustable rate mortgage could be the wiser decision for being so close to retirement. After all, no one wants to spend their remaining years in significant debt.

The Perfect Plan

If you happen to meet the above criteria, then buying a second home in anticipation of your retirement might just be the best option. Luckily, many agencies like Niagara on the Lake Realty offer both buyer and renting services. With one just one agency, you could have someone to help identify a winning property and then manage it for you. Visit our buyers page to find out more about the houses available as well as our buying process.

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green christmas lights

The holiday season is upon us, and with it comes family gatherings, big meals and celebration. Along with these things can come higher utility bills.

In order to keep those costs down and be friendlier to the environment, you want to use as little energy as possible. We at Niagara-on-the-Lake Realty would like to offer some great tricks and tips to keep in mind so that you can enjoy a more energy efficient holiday season.
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