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2BR/2BA 1249sf $220450 Stunning Freehold HAGERSVILLE ON Property #realestate http://realestatechannel.ca/21946

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Avoid these pitfalls when buying home

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Avoid these pitfalls when buying home: Avoid these pitfalls when buying home Buying a home can be a very complex, and sometimes emotional experience.   Some buyers find themselv...

Avoid these pitfalls when buying home

Avoid these pitfalls when buying home

Buying a home can be a very complex, and sometimes emotional experience.  Some buyers find themselves getting caught up in the emotional side, and let their heart take over their head.  Here are a few tips from Coldwell Banker on how would-be buyers can stay grounded and avoid some common pitfalls during the home buying process:

• DON’T fall in love with the first house or neighbourhood you see.  That Victorian home with the white-picket fence may win your heart at first glance, but don’t fall in love too fast.  You need to keep an open mind to make sure you find the right fit for all your needs.  At the end of your search, it may turn out that the riverfront ranch that’s closer for your commute is a better bet all-around.

• DON’T buy beyond what you can afford.  It’s easy to fall into that all-you-can-eat attitude, especially if this is your first home purchase.  You “want it all” when it comes to size, amenities, location, etc.  But remember that your eyes may have a larger appetite than your wallet.  Make sure that the down payment, closing costs, monthly expenses and taxes are truly within your income and savings range before you sign on the dotted line.  Your Coldwell Banker sales representative can help you ‘crunch the numbers’ ahead of time, to help you determine what you can comfortably afford. 

• DON’T treat your home the way you treat your stock portfolio.  It’s unrealistic and unwise to expect your housing investment will always appreciate as quickly as high-risk stocks or bonds.  Buying for lifestyle reasons, as opposed to trying to turn a quick profit, will help ensure that you are viewing home purchasing and ownership in the right context.

• DON’T try to time the market.  By the time most consumers sense a major real estate or financial market shift, the tables have typically already turned.  Instead of waiting for a slim and unreliable window of time – and potentially missing out on the perfect home – buyers should focus on their own lifestyles and buy when the time is truly right for them.

• DON’T jump into an overly tempting or confusing mortgage.  When it comes to down payments and mortgages, if it sounds too good to be true, it probably is, especially if financing outside of major financial institutions.  Be sure to read carefully through every aspect of the proposed agreements to fully understand your end of the bargain.  Consider getting independent financial advice if you’re unsure of your options.  For instance, what seems like an attractive rate now may increase dramatically a few years down the road.   

• DON’T underestimate the value of a trustworthy real estate agent’s on-the-ground expertise.  While being a savvy buyer and doing one’s homework will help on the road to homeownership, a local expert with years of negotiating experience is invaluable when it comes to scouting out the perfect home – and closing the deal.

Want more tips on how to make a smart and savvy real estate purchase?  Contact me, and take advantage of my insight.

MEN VS. WOMEN!

Men VS. Women. What considerations reign supreme when couples search for their perfect home?

Price and square footage definitely have an impact on home buyers' decision-making, but what about the sentimental side of becoming a home owner? In a recent survey of 1,000 men and women, Coldwell Banker Real Estate found that regardless of price, size or layout, both genders emphasize the importance of how a home will fit their lifestyle.

Click here to read more about the results in the latest Coldwell Banker press release and/or click here to read a blog post with consumer buying tips. And be sure to watch our "on the street" video where we talk to couples about what makes their home a special place!

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Canada's Housing Outlook

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Canada's Housing Outlook:  Corporation (CMHC), the country's national housing authority, recently released its Housing Outlook for Canada.  According to the CMHC fore...

Canada's Housing Outlook

 Corporation (CMHC), the country's national housing authority, recently released its Housing Outlook for Canada.  According to the CMHC forecast, Canadians can look forward to two more years of a stable real estate market.  Here are some highlights of the forecast for 2012 and 2013:  
MLS® sales are expected to remain stable in Canada in 2012, with over 457,000 homes trading hands this year.
Sales are expected to rise slightly in 2013, to surpass 468,000 resale units sold
Canada's national housing market will remain in balanced territory, being neither a buyers nor a sellers market.
The balanced market is forecast to continue throughout 2012 and in 2013
The average MLS price will see a moderate increase from the 2011 national average price just above $363,000, edging up to $368,900 in 2012
Further price growth is expected to raise the average to $379,000 in 2013.
The Bank of Canada has held interest rates at near historic lows for every consecutive rate announcements since September 2010
Mortgage rates are expected to remain at near-historic lows, staying flat for most of 2012; then starting to increase moderately either late 2012/early 2013
Of course, this forecast only gives you the ‘big picture’ on the national scene.  Market information and house prices can vary dramatically within communities, between neighbourhoods, or even on the same street!  Your local Coldwell Banker real estate professional can give you up-to-date information on your local market, and tell you how to use that ‘insider’ information to your best advantage. Why not call and talk real estate!