Why Use a Realtor®? 6 Important Reasons

Click on the following link to learn about: 6 Important Reasons to Use a Realtor®

Here are Astra's comments:

Realtors® work solely in the best interest of their clients, not their own.  Following CREA, OREA, and RECO rules and standards we truly work for our clients.  We negotiate for our clients to get the best prices and terms and conditions for the contract.

Real Estate is ever changing, both in its market and its rules and regulations.  Therefore it is important to stay up to date!  Realtors® are experienced and educated.  Every two years we have to earn 24 credits to keep our licenses.  We are specialists in this industry, this is what we do everyday.  Don't risk what is probably your biggest investment by using someone who doesn't know what they are doing.  It's not worth it!

As Realtors® we are trained to be able to listen to our client's needs to find them the perfect home that matches their desires, for the best price and in the quickest time possible.  Even Realtors® use Realtors®!  The owner of FSBO sold his home with a Realtor® and paid full commission.  Trying to do it yourself is risky, and wont only waste your time, but also your money.

Please don't hesitate to contact me if you are ready to hire a Realtor ® now.  I would be happy to represent you and help you in all your real estate needs.

Sincerely,

Astra Mulawka
Better Homes and Gardens
Real Estate - Signature Service
Office:905-896-4622

Should You Buy a House or a Condo?

Click on the following link to read: Should You Buy a House or a Condo?

Finding the location you want to be in is key.  If you love the location you probably already know 75% of what you want.  Some areas are mostly condos where others are mostly detached homes.  Knowing the area you want is the first step to deciding and makes it much easier and time efficient for both you and your Realtor.

Detached homes are more expensive than most condos in the metropolitan city.  So, location is key but other very important factors are your budget and what you have saved for a down payment, what your preapproved for and comfortable with as for estimated monthly expenses.  Keep in mind that with a condo, you will be paying a maintenance fee.

Here are some other questions to ask yourself when trying to decide what is best for you.  Do you want a yard? Do you have a pet? Do you like to do renovations?  Remember, home ownership and condo ownership have very different responsibilities!

If you have any further questions, or have decided which one you would like to buy.  Please let me know and I can show you active listings that fit you and your lifestyle!

Sincerely,

Astra Mulawka
Better Homes and Gardens
Real Estate - Signature Service
Office:905-896-4622

Making the Transition from Renting to Buying

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Making the Transition from Renting to Buying

Owning a home is expensive, however it is also very rewarding.  People always talk about the "expected" or known costs of owning a home but they don't always think past the initial purchasing costs. Have you considered what it will cost once the home is yours?  Additional costs for things like lawn mowers, new appliances, and furniture adds up.  When thinking of transitioning from renting to buying, make sure you have considered these "extras."

Although owning a home is a sound investment, realtors can never give you an exact amount of what your home will be worth in 5 years.  Value relies on too many uncontrollable factors.  We can give an estimate if the trends and property condition remains constant but that will only be our best guess and is vulnerable to change.

As for the mobility, contrary to many beliefs, owning a home doesn't tie you down.  When you rent, you usually have to give 60 days notice.  This means that you will probably be writing another cheque for another months rent.  When you own a home and you want to move, once you  make the decision, your house can be up on the market within that same day!  And instead of writing a cheque, you will receive one.  Work with an experienced realtor and list your house at the proper price point and it should be sold long before the 60 days you would have to wait for renting.

One of the reasons I love owning my own home and think that buying your own home is a great decision is that you can do what you want with it.  When you rent a home, there is only so much you can do to make it your own and everything needs written permission from the landlord.  Owning gives you all the freedom you need and it ends up feeling more like home.

Hope this helps if you are trying to make the transition from renting to buying.  If you have any questions or need help starting the search for your first home, please don't hesitate to contact me!

Sincerely,

Astra Mulawka
Better Homes and Gardens
Real Estate - Signature Service
Office:905-896-4622

Home Buying for Young People: Plan Ahead

Click on the following link to read about: Home Buying for Young People: Plan Ahead

1. Here is a huge misconception that many people believe:  Paying your rent and utilities on time does not effect your credit.  However, not paying them and waiting for them to go into collections will.  Credit cards and revolving loans etc. will build credit and must be taken seriously.  For new and young home owners, there are three important factors for being approved for a mortgage:  good credit history, down payment (minimum 5%), and employment.  All three are important.  Consider this:
   Bad Credit + Good Employment = Higher Down Payment
   Good Credit + Employment = Minimum Down Payment
   Decent Credit + Cash Job = Higher Down Payment (BIG)
   Don't worry! Everything can get done as long as you have 2 out of the three factors
2. Saving is very important!
3. You can read a book, but there is also a lot of informative workshops out there for first time  home buyers that will break down and explain what 10 books would tell you in less than an hour.  Don't forget to take notes!
4. This is super important.  Try visiting open houses in certain areas to get a feel of what you're looking for.  Do you want a condo or a house?  First time home buyers tend to be indecisive about what they want, which can make the process much longer.
5. Although family and friends in the real estate business will be able to answer some of your questions, I recommend that you seek a professional realtor as its best not to mix friends and family and business.  Start building a relationship with a Realtor who works where you want to live.  They will be an expert on the area and can guide you through everything and answer all of your questions.  If you want to buy soon, it is also smart to get preapproval from a bank or broker.  If denied, get professional advice on how to be approved when you are ready.

Hope this helps you plan on buying your first home!  If you are planning to buy in the GTA, please don't hesitate to contact me and I will be happy to guide you through this exciting process!

 



5 Creative Ways to Come Up With a Down Payment

Click on the following link to learn of: 5 Creative Ways to Come Up With a Down Payment.

1. Make sure that any gift money that you may use comes from an immediate family member - Do not use gift money from a friend!! It is bound to get too complicated.
2. Taking money from your retirement equity is an amazing way to purchase another home.  When taking a home equity loan or a refinance, you must leave 15% equity in the home, therefore 85/15 loan to value.
3. This is obvious and effective!  You can sell anything and use the funds towards your down payment.
4. If you have just come into a lot of money and are not quite sure what to do with it, investing it in real estate is a very smart decision.
5. This is super creative!  Don't know if it is the best idea to borrow money for a purchase of a home, but if it is your only option go ahead.  Owning is better than renting.  Make sure you calculate all the monthly expenses and make sure you will be able to afford the mortgage, taxes, utility expenses, and loan payments!

Hope you got some good ideas on how to come up with a down payment.  Please don't hesitate to contact me if you have any questions on this!