A good question by buyers, rarely asked, is if there are any little known problems with the neighbourhood where they are house hunting. The traditional questions “What are the neighbours like?”, “Is the neighbourhood quiet?”, “What is the school district?”, “Is it a safe neighbourhood?”, are all important to get answered, but there are other areas that can lead to serious concerns later, if not investigated before you buy.
Fall is the time of year when home owner’s begin creating their renovation wish lists, and start planning their home’s make-over. October is renovation month, and there are an abundance of people and ideas, all offering advice on what to do, and where to spend your hard earned dollars. Before you spend a dime, you should consider several factors carefully, so the dollars you spend will increase the value of your home as well as your enjoyment.
Locally, there are some homes that are in high demand and are drawing multiple offers to them. These are usually the homes that are in great locations and are updated both inside and out. Some homes are undervalued or priced low for the current market trend in their neighbourhood , thus drawing a lot of interest. So should you find yourself competing with other buyers for a home, here are a couple of tips. First you must know the market of the location you are interested in.
Sarnia -Lambton has between 150-200 new homes built and sold every year. Each and every one of them should come with a new home Tarion warranty. But remember that although the warranty is always identical for every builder,there are good builders and poor builders, as well as inexpensive builders and overly expensive builders. The warranty is only as good as the builder behind it. Getting a builder that will come back and service your needs is important. Most new builders must take several courses from an accredited college, and must pass exams.
When you sell your principal residence, or when you are considered to have sold it, usually you do not have to report the sale on your tax and benefit return, and you do not have to pay tax on any gain from the sale. This is the case if you are eligible for the full income tax exemption (principal residence exemption) because the property was your principal residence for every year that you owned it.
More and more often we are seeing newly renovated, vacant homes, come on the market that were previously sold only weeks before. These are called flip houses, a house that somebody has purchased, renovated, and put back on the market for a profit.
All around Ontario there is talk of a “housing price bubble” and a “hot seller’s market”, along with the fear of prices collapsing. In Sarnia, Lambton we have only seen a slight increase in home values and solid house sales. Some people are wondering why prices are going up in our area, when our population seems to be stable with near zero growth. There are several factors influencing the local real estate market, including retirees coming in from other areas, as well as newcomers replacing our retiring workforce.
Traditionally, March, April and May are strong months to sell your home for top dollar. Several buyers are already looking for that perfect new home, and have many search tools available to them. As a seller, you want to get the highest price possible within a reasonable amount of time on the market. Proper research and the help of a professional experienced realtor can ensure you are ready. There are various ways with which to arrive at a selling price.
Whether buying or selling real estate, obtaining the services of the right realtor can make all the difference to your wallet. In today’s fast paced and ever changing world, you need someone that can give you real service and value for your money, and choosing correctly should be your first priority. In Ontario, all realtors must be licensed and follow a strict code of rules and regulations, but this is where the similarities end. There are many consumers who believe all realtors are the same and provide the same level of service, which is simply not the case.
With Donald J Trump becoming the 45th U.S. President, people are asking how this will effect Canadian, regional and local real estate values. Once all of the the doom and gloom of anti -Trump protestors quiets down, and the dust settles , I believe Sarnia-Lambton will, along with all of Canada, benefit from renewed economic activity and increased investments and immigration. Trump’s promise of U.S. protectionism is really more about fair trade with other countries. Canada will not be effected as much as Mexico, China and other Asian countries. He aims to make U.S.