Newsletter - February 2008
Ten 'Hot Buttons'
for Homebuyers and Sellers
 Buying
or selling a home can be a confusing and even overwhelming
experience at the best of times. One of the best ways to take
the mystery out of the process is by arming yourself with good
information. Whether you're looking for a home yourself, or want
to attract potential buyers to the home you're selling, the
secret to success is in knowing what information is most sought
after and valuable when prospective homebuyers evaluate a new or
prospective community.
Here's a list of Ten Community
'Hot Buttons' - the questions that buyers want to know, and
sellers need to answer: |
|
Selected Canadian
Mortgage Rates
(Posted 5-year fixed rates as of
September 13th, 2007):
BMO: 7.24%
TD/Canada Trust:
7.19%
CIBC:
7.24%
ING Direct:
5.84%
Manulife
Bank: 5.85%
President's Choice
Financial: 5.85%
Royal Bank:
7.19%
Scotiabank:
7.24%
|
|
- What homes are currently listed
for sale in this area in my price range?
- What are the various house types
available for purchase in this market?
- How affordable is the housing
compared with other markets?
- Where are schools and other
amenities located?
- What are the predominant age
groups of the community?
- What is the average income of
the residents?
- What is the level of education
of the residents?
- What is the employment rate in
the community?
- How many people make up the
average household?
- Where can I find more
specialized information about this community?
So,
now that you know what the questions are, you're probably wondering
where to go to find the answers. As your Coldwell BankerŪ
sales professional, I can provide you with comprehensive and
up-to-date pricing information and housing options in your market.
However, if you'd rather start by surfing the net for some facts,
the answers are just a click away on Coldwell Banker Canada's
website
www.coldwellbanker.ca. Whether you're a buyer choosing your next
neighbourhood or a seller who wants to know how your community
stacks up against the competition, it's all right there at your
fingertips.
So, why not logon to
www.coldwellbanker.ca and use our insider information to your
best advantage? And once you're ready to put those facts into
action, I'm just a phone call away. Whether you're buying or selling
-- you'll be glad you called me first!
This is not intended to solicit
property already listed for sale.
[Back
to the top]
|
The Advantages of
Homeownership
If you're wondering
whether home ownership is right for you, a good place to start is by
weighing all the 'pros' and 'cons'. Consider the many advantages of
owning your own home. There are many practical and financially sound
reasons for buying your first home, whether you start with a condo,
a duplex flat, a townhouse, or even a single family home:
-
 Home
ownership is an excellent way to build equity. That's an
important consideration if you're trying to build some financial
stability - especially if you happen to be single and are doing
it on just one income.
-
There's the security
that comes with making an investment for the future. When you
own your home, you have a resource to fall back on.
-
Paying a mortgage
off is usually better than "throwing money away" on rent. You
could be paying high rents for years, adding up to many
thousands of dollars, yet never end up with anything that's
yours.
-
Your rental expenses
can often be out of your control - possibly now, but
particularly in the future. However, if you lock in a long term
mortgage, you'll know exactly how much your payments will be for
years to come.
-
Owning your own home
gives you the option of earning extra income, either by renting
out the entire property or by taking in a tenant.
-
Homeownership
affords an asset to borrow against if you ever need to. Even if
your mortgage isn't paid off, you can still borrow against the
equity of your home - and at far better interest rates than
you'd normally get for almost any other type of personal loan.
-
Property values are
expected to continue to appreciate throughout 2008 and 2009, so
your investment is earning a good return while you enjoy it.
There are other exciting
reasons to consider home ownership. You'll gain independence and
pride of ownership. The feeling of satisfaction and accomplishment
it gives is one of life's great pleasures.
[Back
to the top]
 Making
a business out of property 'Flipping'
Anyone who owns a
television set can't have helped but see the recent 'bumper crop' of
programs about people who buy properties, fix them up and quickly
resell them at a profit. If you're the handy type or if you have an
entrepreneurial spirit, the idea of 'flipping' a property for a fast
return on your investment probably has some appeal. However, you may
also be wondering how this scenario might work for the Canadian real
estate market.
If you'd like to make a
business out of buying and selling property, there are many
different ways to go about it. Most people trying it for the first
time will want to keep their existing job, at least while they're
getting started, or if you're just thinking of 'flipping' as a
sideline to supplement your usual income. The most profitable way to
'flip' a property is to have that home be your principal residence,
so that you can avoid paying capital gains tax on any increased
value you achieve on the property. Appreciation on your principal
residence is not taxable. So, if you're prepared to live in the
property while you improve it and cope with the disruption and
inconvenience of renovating while you're living there, then this
option is likely the best one for you. If you plan on owning more
than one property at a time, talk to your lawyer or tax advisor
before you buy. It may be more advantageous to put the title under a
different name, for example that of a spouse or another family
member, to avoid paying unnecessary tax.
 If
you are planning on buying a home for a quick return, make sure you
share all your goals with your Coldwell Banker real estate
professional. They can counsel you on what areas are up and coming
and stand a good chance of appreciating at a higher than average
rate. They're also experts on what home buyers are looking for in a
home, so they can advise you on what improvements are likely to give
you the best return. Kitchens and bathrooms are the two rooms of the
house that generally give you the best bang for your renovation
buck, but there are countless options to consider. I can help you
weigh your options to make an informed choice.
[Back
to the top]
Should you happen to know of any family, friends or situations in which I may offer my real estate
knowledge and service, please don't hesitate to refer me.
This newsletter is not intended to solicit properties currently listed for sale.
An Independently Owned and Operated Member Broker of Coldwell Banker Affiliates of Canada.
[HOME]
|
