How A Home Inspector Helps You

Whether you're considering buying a particular home, selling your current property – or both – a home inspection can help.

A home inspection is an inspection by a qualified professional who takes a close look at every aspect of a home – structure, wiring, plumbing, and more – and identifies issues you may not have noticed yourself.

For example, a home inspection can reveal that a furnace will need to be replaced soon, or that there is a water leak into the basement that needs to be fixed.

You'll definitely want to get a professional home inspection before you buy a particular property. That's why most offers to purchase a home are conditional upon passing a home inspection. (The last thing you want is to buy your dream home only to discover that the wiring needs to be updated!)

You may also want to get a home inspection on your own home before you list it for sale. A certificate from a qualified professional that states that your home passed inspection will make your property more attractive to buyers.

Many reputable home inspectors are members of a professional industry association.

In Canada:

•Canada Association of Home & Property Inspectors. (http://www.cahpi.ca)

•Professional Home and Property Inspectors of Canada. (http://www.phpic.ca)

•National Home Inspectors Certification Council. (http://www.nationalhomeinspector.org)

In the U.S.

•American Society of Home Inspectors. (http://www.ashi.org)

•National Association of Home Inspectors. (http://www.nahi.org)

•American Institute of Inspectors. (http://www.inspection.org)

It's important to note that certification or licensing is not a requirement in many jurisdictions. So select a home inspector carefully.

Need to find a reputable home inspector? Call today. - 416-505-7513. I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com.

Take a Walk on the Boardwalk (or Sidewalk)

If you've played the game Monopoly then you've probably picked up the Chance card that reads, "Take a walk on the Boardwalk. If you pass Go..." That's good advice when shopping for a new home. When you see a property you like and you’re thinking of making an offer, spend some time walking around the neighbourhood. This will give you a better sense of what it's going to be like to live there.  After all, the last thing you want is to buy a dream home only to find out later that there are issues with the area that make living there

not to your liking.

If you have kids, see how far it is to walk to local parks, playgrounds, schools and community centres.

If you commute, you might also check out the route from the neighbourhood

to your place of work. Is there a left turn that is likely to get backed up in the mornings?

Also check out how well the neighbours take care of their properties. Homeowners tend to keep their homes looking good.

As you walk, listen. Are there noises from nearby high schools, industrial areas, or highways that are going to be unpleasant for you? Find out if the neighbourhood is near an airport flight path, or if there is a railway in the area. Your REALTOR® can find that out for you.

If you get a chance, talk to some of the neighbours. Ask what they like most about living in the area. You're likely to get some candid –and useful –answers.

Finally, spend some time visualizing living in the area. Can you see yourself enjoying what the neighbourhood has to offer? If so, then buying a home in that area will likely be a good choice for you.

Looking for a good REALTOR® who knows the area well? I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

5 Tips for Selling Your Home Quickly

There are several reasons why you may need to sell your home quickly. For example, a job change may require a speedy relocation to another city, or you may have purchased another property and don't want to be stuck too long with two mortgages.

Here are some tips that can help get the sold sign on your front lawn sooner.

•Be realistic with price. If you set the listing price higher than the current market value of your home, then you're not going to get many, if any, viewers. You want the list price to be attractive, which means listing at the current market value.

•Get things fixed. You probably don't have time for a major renovation. So just make sure everything in your home is in good working order. Deal with any obvious maintenance issues, such as a leaking faucet or a gate hanging precariously on one hinge.

•Ensure your home shows well, inside and outside. Eliminate clutter. Trim hedges. Make sure every room has adequate lighting, especially the basement. Imagine that a special guest is visiting your home, then clean up and prepare accordingly.

•Be flexible with viewing times. You want as many potential buyers as possible to see your home. So don't restrict viewing times to just Saturdays. Make sure your home is as "available" as possible for showings. This may cause you and your family some inconvenience, but the reward will be selling your property sooner.

•Work with a good REALTOR®. Find an agent who understands the area and the local market well. He or she will be able to recommend a variety of strategies that will help sell your home faster, and for a good price.

Of course, there's no way to guarantee that you'll sell your home within the time frame you want. But these tips will certainly increase the chances that you will.

Looking for a good REALTOR who knows the area well? I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

How to Be a Savvy Home Viewer

If you're planning on finding your next dream home, then you're probably going to view several homes on the market that meet your criteria. You will want to make the right purchasing decision for you and your family.

So, it's wise to be savvy when viewing properties for sale. Here are some ideas on how to do that.

•Bring a notepad. Take notes, not only of the home's characteristics, but also of how you feel. For example, can you imagine yourself happily cooking up a storm in the kitchen? Do you see yourself entertaining family on the back deck?

•Bring a measuring tape. Will the furniture you plan to bring fit? Your dining room suite? Your home fitness equipment?

•Ask about maintenance. Is the property in a good state of repair? Will anything need to be replaced soon, such as the windows?

•Bring a camera. Take lots of pictures of the home's exterior features. Don't make the mistake of thinking you'll remember how everything looked.

•Check out the area. Do other homeowners take good care of their properties? This shows pride of ownership. How is the noise level? Is there a playground, or another area feature nearby?

•Make a list of compromises. For example, are there only two bathrooms instead of three and, if so, can you live with that?

•Make a list of bonuses. What features does the home have that are

not a necessity but would be nice to have? For example, an entertainment bar in the basement recreation room.

•Remember your budget. Is the price within your range? Can you afford to buy this home?

The more savvy you are when viewing properties on the market, the more likely you will be to find your next dream home.

I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

Magnificent Makeovers on a Budget

Have you ever watched those TV shows where some lucky homeowner gets a room redecorated by a professional? To have something similar done in your own home you would have to make a serious investment, or become a TV show guest!

However, there are ways to re-decorate a room and make it look great – even spectacular – on a budget.

Say, for example, you want a living room makeover. If your sofa is worn you can buy a fitted sofa cover that will make it look almost new. Tablecloths on worn end-tables and other surfaces can have a similar affect.

Don't forget the most economical redecorating trick of them all: Paint! A fresh coat of paint can bring a room to life! Hanging a few new pictures can also have a dramatic impact on the look of a room. You don't have to buy a Rembrandt. Attractive, simply framed pictures will also add interest and colour.

With a little imagination, it's amazing how much you can improve a room on a little or even no budget.

I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

Home safety is more than locked doors and alarms

 

 

It is quite ironic that I am publishing this blog. While a friend of mine is extremely cautious and pretty well does everything suggested here, two weeks ago she mistakenly left her patio door unlocked and an intruder came into her home at 2:00a.m., (she was in bed but awake) and heard him. He calmly stole cash out of her wallet and her Iphone and Ipad off her desk, even taking the time to take the Ipad charger out of a power bar! It was a harrowing experience so she cautions you to ensure you do your due diligence to protect yourself. It could have been a lot worse.

When it comes to home security, most homeowners think about door locks and alarms. These are, of course, very important. However, there is also a lot you can do around your property to prevent the possibility of a break-in.

One important part of home security is outdoor lighting. Your home doesn't need to be lit up like a baseball diamond at night, but your exterior lighting should illuminate your yard enough to be a deterrent to burglars.

Some burglars hide around the property and wait for someone to arrive and open the door so they can use that opportunity to force their way into your home. Security experts suggest that you walk around your property and look for areas where someone could hide, such as behind tall shrubbery like a cedar hedge or behind a tool shed. Make sure these areas are well lit.

Pay particular attention to lighting around exterior doors, especially the back door. Home security experts also recommend that exterior lighting be installed with a timed dimmer. The lights can then be set to cast a bright light in the early evening, and then a dimmer light throughout the rest of the night.

Lights installed with motion detectors can also be effective in certain areas. The sensors will cause the light to turn on or brighten when someone comes onto that part of your property. Generally, thieves will flee as soon as they see a light turn on.

Do you hide a spare key under the front door mat or in a flower pot? No matter how clever you think you are, experienced thieves know all the common hiding places. So, if you need to have a spare key available, put it in a small combination lock box and hide the box. That way, if a burglar finds the box, he still won't be able to open it and access the key

I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

Doubling Your Storage Space (While Using the Same Space)

Finding storage space in the home is becoming increasingly challenging.  These days, we all just seem to have more stuff!  Fortunately, you don't necessarily need to rent a storage locker or add a new room to your home to fit everything.

There are many innovative ways to increase the capacity of the storage space you're already using. For example, there are storage bins you can buy that are designed to fit neatly under a bed. Some have wheels, making the bins easy to pull out and access.

You've probably seen closet organizers at your local home improvement centre. These can easily double the storage capacity of a closet, while making the space look neater and more organized.

Finally, there are storage units available that are camouflaged as something else, such as an ottoman.

Visit your local home improvement centre. There are many more innovative storage solutions available for your home.

I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

Easy Ways to "Go Green"

These days, most people want to do their bit to help the environment.

Unfortunately, not everyone is willing, or able, to install solar panels on their

roof or implement an in-ground heat recovery system. Luckily, there are many smaller things you can do that can make a big difference. Here are some ideas that can help you "go green" easily and inexpensively.

Get a recycling bin and learn how to use it. Most jurisdictions have a recycling programme. Keep a list of items that can be recycled on your fridge door, so that everyone in the family can participate.

Get a kitchen compost bin.

Did you know that composting can reduce landfill waste by as much as 32%.

Use energy-saving light bulbs.

Low energy light bulbs have come a long way in recent years. Their consistent glow and brightness now rival their incandescent counterparts. By replacing regular 40-watt bulbs with energy-saving 8-watt bulbs, you could save nearly 50% of the electricity you used for lighting. Results may vary by brand.

Shop for local produce.

Many grocery stores and supermarkets offer produce – fruits, vegetables, – that are grown within a 100 mile radius. The short transportation distance, means significantly less fossil fuel is required to get the produce delivered to your local store. Keep in mind that some non-local produce, such as apples in the off- season, often need to be transported thousands of miles.

Let nature do the work.

As an alternative to air conditioning, open windows and block out the passive heat gain from the sun with curtains. Do the opposite in winter. Strategically using curtains and windows can lower your energy bill by as much as 20%.

As you can see, you don't have to do much to have a "greener" home. Just

a few little changes can make a big difference.

I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

The fastest way to lower your energy bill

Did you know that, next to heating and air conditioning, your lights consume most of the energy in your home? In fact, you can lower your electricity bill quickly –and substantially – simply by being smarter about lighting. 

First, consider replacing your conventional light bulbs with the energy - saving variety. You've probably seen these at your local home improvement centre. Compact florescent light bulbs, for example, use up to 75% less energy.

Second, lower the wattage in some outlets. Is it necessary to have a 100 watt bulb in the furnace room? Try a 60 watt bulb.

Finally, think before you turn on the lights. Do you really need them on? Perhaps there's an alternative, such as opening a window blind to let in more sunlight.

I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

Recognizing potential major expenses in a new home

 

When you see a new home you like on the market, it's easy to get distracted by all the features you love –the wrap-around backyard deck or the spacious rec room with plenty of space for entertaining. You just need to make sure that in all that excitement you don’t overlook any expensive maintenance issues that could be just around the corner.

Nothing lasts forever. The major components of every home – from the furnace to the roof shingles –need to be replaced eventually. Knowing when such maintenance issues are likely to arise can help you make a smarter decision about the home you're considering.

How do you do that?

When viewing a property, ask for the age of the major components of the home, such as the roof shingles, furnace, air conditioner, water heater, and appliances. Roof shingles may look merely weathered in spots –and you might think they have years of service left –when, in fact, they're due to be replaced in a year.

Also pay close attention to the backyard deck, fencing, flooring, and windows. Do any of those components look aged, worn, and in need of repair or replacement sometime soon?
Finally, don't forget to check the kitchen and bathrooms. Sinks, faucets, bathtubs, showers, and cabinetry have a life-span of about 10-15 years.

Of course, there are things you can't see, such as wiring, plumbing, venting, and other components of a property that may require maintenance soon. That's why it's so important to make any offer to purchase a home conditional on passing an inspection by a qualified home inspector.

Want more ideas on buying the right home for you? I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

Removing Stains From Rugs And Carpeting

 

Something has just spilled on your favourite rug or carpet. There's a stain forming. You're worried. Will you be able to remove it? Will the stain set and stay forever?

Luckily, there's a good chance you can completely lift just about any kind of stain – if you follow a few guidelines.

The first rule of stain removal is: act fast. The fresher the stain, the easier it is to lift. So when you notice a stain of any kind, start to work on it right away. Don't wait.

Begin by trying to dry blot the stain. Avoid the temptation of using a wet cloth or detergent, at least at this stage of the game. Blot the stain gently with a clean, dry cloth or absorbent paper towel. Be patient. It may take several minutes before you see any results.

If dry blotting doesn't completely lift the stain, mix up a combination of one glass of water with one teaspoon of lemon juice. Again, take a clean cloth or paper towel, wet it with the water/lemon mixture, and gently blot the area (test on an inconspicuous area first). Wait five minutes, then try dry blotting again.

You may have to repeat the above process a few times.

Using a vacuum cleaner directly over the affected area can also help lift more of the stain.

If, after all your efforts, some of the stain is still there, place a couple of sheets of paper towel over the stain, with a few books on top to maintain pressure. Leave those there for 24 hours. Check every hour or so. If you see stain on the paper towels, you know it's working.

If all else fails, consider calling in a professional cleaner. They know all the tricks and can often perform a miracle for you!

I will discuss many aspects of home improvements, buying, selling and moving in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

Hiring The Right Moving Company

 

How do you select the best moving company for your needs?

• Ask for recommendations from friends other professionals in the local real estate industry.
• Beware of fly-by-night operations. They may seem like a bargain, but you get what you pay for.
• Does the company provide you with a written estimate and contract? (Beware of movers that just give you a price over the phone.)
• Ask if they are covered by insurance, and what their policy is regarding lost or broken items. Make sure you receive a copy of their insurance certificate. 
Finally, always ask what circumstances would result in extra charges being applied. The number one complaint received about movers by the Better Business Bureau is unexpected extra charges. 


Questions about moving? Call today. I will discuss many aspects of home improvements, buying, and selling in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

First Time Buyers

 

Buying your first home is very exciting because it holds the promise of independence, pride in yourself for having sacrificed to save, and perhaps even starting your own family. It’s exhilarating.

At the same time though, there is some trepidation because it is a very big decision and you have a million questions. What about financing? What can I afford, comfortably? What are the closing costs? Do I want a fully renovated home or a fixer upper? How do I find a reputable agent?

Let me try to answer some of these questions. The first stop you should make is to the bank or mortgage broker. They will go over the costs associated with buying a home including closing costs (lawyer fees, land transfer tax(es), and the cost of running a home including property taxes, heat, hydro, water. 

The mortgage broker will calculate these costs and determine affordability based on your income. Then they will pre-approve you and give you a price range. Remember, pre-approval does not mean approval. Everything hinges on whether or not the house appraises. You can decide what you are willing to pay for a home but the final decision rests with the lender. If the house does not appraise you would have to come up with any shortfall between what the lender will lend you and the price you agreed to pay. So be careful.

The kind of home to buy as a first timer should focus more on needs than wants. For example, if you have a small down-payment, you will not have much extra cash to do major repairs. Therefore, you should be mindful of the not so aesthetically pleasing stuff like roof, wiring, plumbing, and windows.  These are the items that you have no choice but to repair if something goes wrong.

Next stop is your realtor. I have a terrific list of questions you should ask your realtor before hiring them. The answers the realtors give to these questions will help you tremendously in making this very important decision. After all, the process should be enjoyable - it is your very first home. Just email me and I will send this list of questions to you. 

You should interview a couple of agents before making the decision. One way to find a good agent is to ask your friends or relatives if they have had a good experience with an agent. If I am fortunate enough to be your agent, I would ask to meet with you and I would assure you that there is no obligation. We would not sign paperwork until our next meeting so, no pressure. If  you decide to go ahead, I will go over the process in detail, step by step, from helping you select the kind of property you would like, to discussing the various legal forms (Agreement of Purchase and Sale, Agency Relationship) and, of course, outlining negotiating strategy. 

I hope this helps and please let me know if you would like me to email you my in-depth booklet on the buying process.

If you would like some thoughts and ideas about listing your home, do give me a call.

Carmel Kidd

Phone: 416-505-7513 

How Important Is Pricing Your Home?

Market value is the highest price estimated in terms of money that a willing and well-informed Buyer would be warranted in paying, and a willing and equally well-informed Seller would be justified in accepting for a property, if placed on the market for a reasonable period of time, with both parties acting free of compulsion or duress, and with all rights or benefits inherent in or attributable to the property included in such value.

There are five major factors that influence your listing price: location, timing, competition, condition, and terms.  Location speaks for itself. Timing is very important because buyers are thinking about schools for their children and they generally prefer to synchronize the move with the beginning of the school year. In terms of timing, another issue is weather. People prefer not to battle a snow storm to view homes and conversely, they do not enjoy searching for a home in sweltering heat.
The third factor to consider is the competition: similar properties that are currently on the market. Buyers will view all similar homes in the neighbourhood and their decision will come down to which home offers them the most for the least amount of money. If your home is not priced with the market in the area, the other homes will sell first and you will have facilitated this circumstance by not competing.

The condition of the home is crucial in the buyer’s decision making process. Remember that the market is being fuelled by interest rates, in my opinion. Because interest rates are so low, many more people can get into the market. However, renovation money is not so accessible, especially for the first time buyer who is using all their money to be able to qualify for the mortgage. Therefore, if the home is in good condition, the buyer’s decision becomes a whole lot easier. And don’t forget the appraiser. The bank will send in their appraiser prior to approving the mortgage. If it does not appraise for the price the buyer agreed to pay, the buyer will have to come up with the shortfall or not go through with the transaction.

Finally, the terms of the transaction are significant. For example, if the buyer offers you your high price but makes it conditional on selling his present home, you may lose momentum if he fails to sell his home. You would be prudent to appeal to the majority of buyers by offering your home at a price that is congruent with the market in your area for similar homes.

If you would like some thoughts and ideas about listing your home, do give me a call.

Carmel Kidd

Phone: 416-505-7513

Commissions

 

In any discussion regarding the sale of a house the matter of real estate commissions arise. The “commission” could be considered a professional fee such as would be paid to a lawyer, an accountant or other professional advisor, albeit with one important distinction: real estate fees are only paid on a contingency basis which means the successful and satisfactory conclusion of the sales transaction. To put it simply: no sale, no charge.

How are fees distributed?

In many cases there are four parties involved in the sale of a house. There is the seller’s agent and the buyer’s agent and each agent must be affiliated with a brokerage, in my case, Sutton Group.  Each party must be paid.

When are fees paid?

All fees are held in trust until the successful closing of the transaction. The buyer has taken possession, owns the property, and is free to move in. Only then are fees released to the entitled parties. This is usually long after the agents’ service has been rendered. Typically, a house might list a few weeks after the  initial meeting between seller and agent, and the house might sell after, say, 30 days on the market and close sixty days after that. To illustrate, the initial meeting could take place in January, the house lists in February, sells in March and closes in May. Only then would the agent be compensated.

What if the house doesn’t sell or a sale falls through?

In that event, and it happens but rarely, no fees are paid and the agent is out-of-pocket for time and money invested in marketing the house. Sales can fail if conditions are not met, such as financing falling through or other events beyond anyone’s control. The seller or buyer may be entitled to retain a deposit or pursue other compensation but the agent will not be entitled to a fee.

Are commissions negotiable?

Yes, fees could be reduced all the way to zero if the seller wants to do it all themselves: research the marketplace, market the property, show the property themselves, negotiate the offer, but the savings could be illusionary. A savvy buyer would expect to pay less and a buyer’s agent would probably not show the property without compensation and so on.  There is also the security aspect of the transaction, not just in terms of having total strangers coming through the home but the seller not knowing the prospective buyer’s ability to close the transaction.

I will discuss the various aspects of selling and buying a home in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

Listing Your Home

 

Coming to the decision to sell your home is fraught with questions about, for example, where to start, how do I get the house in shape, what are the costs involved, and where will I live. The decision is very difficult . And, when you have made the decision, a host of other questions arise about the right people to hire, perhaps a contractor to present the house in its best possible light, a realtor and a lawyer, to name a few. The good news is that people do it every day so you have to believe that there are systems in place and all will be well.

When you reach the point of listing your home your goals will be to achieve top dollar with the most favourable terms in a reasonable time frame and to accomplish a smooth transition. The job of the realtor is to ascertain a fair market value, attract qualified buyers, and highlight the merits of your home to coincide with the buyer’s wants and needs.

I have been selling homes for the past twenty five years or more and it seems to me that there are two major factors that will cause a property to sell: exposure to the marketplace and the asking price of the home. In this internet age, it is vital to draw on all the resources the internet can provide to expose the home to potential buyers.  In pricing the home it is important to satisfy three important people: you (the seller), the buyer, and the often forgotten appraiser. If the appraiser does not approve, the buyer does not get the mortgage.

I will discuss the various aspects of selling and buying a home in upcoming weeks but in the meantime, if you have any questions please email me at ckidd@trebnet.com or call 416-505-7513.

Two questions asked of every realtor

Two questions asked of every Realtor:
1. What will happen to house prices?
2. What is my home worth?

1. House prices will fluctuate.
J.P. (John Pierpont) Morgan (1837 –1913) was an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time. Whenever he was asked what would happen in the Stock Market, Morgan would respond “It will fluctuate.”
And so will the Toronto home market: It will fluctuate.
However, there are no indicators of any dramatic swings in single-home prices as we have seen in the past. There has been a recent steady rise in Toronto prices and the market remains strong for quality single-family homes in desirable neighbourhoods. There have been concerns expressed about the condominium market that may be reaching saturation with some developers postponing projects.

2. Your house is worth what someone will pay you for it.
Real estate is the freest of free markets: there are no price regulations, no Suggested Selling Prices.
Your home is worth exactly what a buyer will pay.
A realtor can provide an educated estimate by analyzing recent sales of similar houses to yours and in comparable neighbourhoods and by evaluating the individual qualities and features of your property.
In the end, it will depend on one buyer’s desire to own your home. We have seen recent bidding wars with multiple offers far above the asking price; we have also seen over-priced offerings that have languished on the market with no serious offers before a significant price reduction or withdrawal.
The usual upswing in Spring activity was late this year, perhaps due to unseasonably bad weather but activity picked up in May.  Overall, market seems stable, a good supply of properties is on offer, serious buyers are shopping  and a single-family home offered at a realistic price will attract reasonable offers.

If you would like some thoughts and ideas about listing your home, do give me a call.

Carmel Kidd

Phone: 416-505-7513