Jul 15, 2012
Vancouver Home Sales
For those of you contemplating buying a house in the Vancouver area, here is a tip for you to think about. When having a potential buyer at your open house, don’t go back and forth too much in front of the client and the real estate agent asking a ridiculous price for your house because the client may become disgruntled and think that perhaps he has made a mistake and should not sell his house but make renovations instead. Think of a realistic price beforehand, make a reasonable offer, and be flexible. You cannot afford to lose a buyer who is in your home and wants to be convinced that he is making the best choice by selling his house and buying yours.
Mortgages and things
Things are tough out there and real estate in the British Columbia area is not cheap. A great number of owners in big homes are becoming landlords where a section of the house can be rented to tenants; it is one way with the high cost of mortgages to remain in your own house and in your area which you have always liked. As well, with the extra money from rental you are able to qualify for a higher mortgage loan and not move at all.
New mortgage rules may put off some Canadians from entering the housing market, but overseas investors are not concerned. Vancouver and Toronto both draw a huge international crowd who can afford to seal the deal with a 20% down payment and also exempts them from the new rules set out by the government.
Real estate investment
Is real estate a good investment? Yes, it is. It is better to be an owner than a renter as property values increase over the years and you will eventually pay up your mortgage and not pay for a mortgage any longer. You can then either decide to live in a house that is free and clear, or you can choose to invest the proceeds of the house and live on the income during your retirement. You have equity; you are free from any further payments.
If you decide to sell your home and not use a real estate agent, here are some things you can do to find the home you want and save on real estate commissions:
• Have an open house with a difference where you have some light snacks on the table which promotes a comfortable environment and the prospective buyer is more at ease.
• Do some staging with mirrors and flowers to make your living room look more spacious.
• Dress up your bathroom with fresh rolled up towels and have a sweet scented candle burning in the toilet.
• Have a friend design a killer brochure where all the details of the property are listed and the buyer can see the rates, taxes, size of the property at a glance.
• Make sure your kitchen looks fresh by packing away unwanted items, cleaning the counter tops, and have fresh flowers or cookies in a plate for buyers who can’t seem to leave the house. There is a lot one can do to improve on the current appearance of the house and you may wish in the end not to sell.
• Leave thank-you notes on the table and ask your visitors to sign in the register.