What first time buyers want, plus -
A smart real estate buy can help with college expenses
First time buyers want ‘turnkey’ ready homes, not ‘fixer uppers’
As a home seller, you may be thinking that a ‘fixer-upper’ property would appeal to most first time buyers trying to put their first step on the property ladder. However, according to the results of a recent Coldwell Banker® survey on the preferences of first-time buyers, you’d better think again!
Coldwell Banker recently conducted a survey of real estate brokers and sales professionals across the U.S. and Canada to determine the preferences of first time buyers. The survey clearly shows that First Time Buyers want a ‘turn key’ property where they can simply move in and start to enjoy living in their new property. These individuals have typically put the majority of their financial power into the down payment. They don’t have large reserves of cash available to start putting more money back into the property on major renovations.
In addition, first time buyers are typically just starting out on their career and especially in the case of single buyers, have little free time available for house repairs. Bottom line? The less there is to do on your property in the way of repairs or updates, the more appealing it is going to be to those buyers. In most cases, it’s well worth the investment to do the necessary repairs and finishing before putting the home on the market.
Of course, if you’d like to discuss how any planned repair, upgrade or renovation may affect the potential resale value of your home, we're just a phone call away and always ready to talk real estate.
A smart real estate buy can help with college expenses
It’s already June and another school year is winding down. Many of our clients and past customers have a son or daughter who will be going away to college this fall, and they’re already thinking about all the expenses this will involve. There may not be much you can do about the high cost of tuition, books or travel, but there’s one major college expense that you may be able to turn to your advantage. Rather than paying rent at a student residence for three or four years, why not consider buying a property and turning that expense into a source of income? If you buy a property near the campus, you could rent rooms to other students and your child could potentially live there rent free. With homes for sale at very attractive prices, and financing rates at near historic lows, it’s a great time to invest in real estate. If you buy smart, you may be able to recover the cost of your child’s housing expense. You might even be able to generate enough positive revenue to offset some of the other expenses of a college education. Best of all, if house prices go higher in a few years – and I think they will – you could potentially realize a profit on the equity you have built up in the property.
If you’re interested in exploring this option, then just give us a call. Whether your real estate needs are nearby or in another community, we can help. As your local Coldwell Banker First
Ottawa real estate professionals, we can counsel you on what to look for and what to avoid. We can show you unique Coldwell Banker online resources such as the Home Price Comparison Index and On Location, the first real estate channel on YouTube™. Through our connections in the financial sector, we can even help you pre-qualify for a mortgage, so you’ll know in advance exactly how much house you can afford. And when you’re ready to start looking, we can personally show you properties near at hand, or if you’re looking for a property out of town, we can put you in touch with an experienced real estate professional who’ll show you suitable properties in your target area.
Why not take advantage of this great market and use it to help offset the high cost of a college education? Call us and let’s talk real estate!
Saturday, June 27, 2009
Thursday, June 25, 2009
Posted by Jessica at 1:11 PM
Monday, June 8, 2009
Posted by Jessica at 10:12 AM
Tuesday, June 2, 2009
You love your pets and so does the rest of the neighborhood. However, when it comes time to sell your home, you shouldn't expect the same of those interested in your property. While it is difficult for some homeowners to understand the negative perceptions about pets held by some prospective buyers, you should try to make your home as appealing as possible to everyone who walks through the door. Before showing your home, consider some of these steps to minimize the impact of pets and potentially maximize interest from prospective buyers.
Before showing your home to buyers, you should try to remove all signs of your pets. Start by putting away any food and water bowls, pet toys and litter boxes. If your dogs use a doggie door to get in and out of your home, consider replacing or sealing up the door. If you keep photos of you and your pets on display, pack the images away when prospective buyers are in your home. Lastly, if you have any items that are too big to hide – like cages or dog carriers – find a discreet storage location in the garage or outside the home.
To ensure that you don't offend the eyes (or noses) of prospective buyers, you may want to devote extra time to cleaning your home. If you have cats or dogs that roam freely in the home, start by vacuuming the entire house. Next, as most pet-loving homes have a carpet stain or two, consider hiring a professional cleaner to get rid of the offending spots. If you find any stains that cannot be removed, you may want to replace the carpet or flooring before showing your home. To remove the last whiffs of pet smell from your home, avoid air fresheners (some of your guests may have allergies) and try using a heavy-duty enzyme cleaner. When you are confident in your cleaning, ask a friend or extended family member to inspect for stains and smells before showing the home.
Ideally, homeowners may want to try relocating their pets while their home is on the market. Rather than keeping your four-legged loved ones locked up in the garage, consider asking your friends and family to help out. If you can't find anyone with the ability to watch your pets, you may need to consider using a nearby kennel. While this might be incredibly difficult to do – for pet and pet owner alike – this step could go a long way towards helping prospective buyers feel comfortable in your home. By keeping your pets out of your home while it is on the market you will be able to minimize the impact they've had on the property and avoid any mishaps with prospective buyers. However, if you can't bear to part with your pets while your home is on the market, you should still try to remove your furry friends during open houses and tours.
While there may be plenty of pet-friendly homebuyers that visit your open house, it is important not to offend anyone who looks at your home. In fact, even some pet owners might be turned off by the presence of your pets. After all, plenty of pet owners believe their own animals to be cleaner and better behaved than anyone else's. Hence, when it comes time to show your home to prospective homebuyers, you should try your best to minimize your pets' impact.
Posted by Jessica at 8:54 AM