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SHOULD I HIRE A REALTOR TO SELL MY HOME?

Posted: 6/19/2020 | By: admin

Although selling a home can be done with or without a real estate agent, and some sellers do choose to do this without the aid of a real estate agent, most prefer to rely on the professional services of a realtor.If you’re selling your property, you might be wondering which scenario suits you best. Consider these important points why enlisting the help of a real estate agent will be of benefit to you:

They Have the Time, Do You?

There are numerous tasks that need to get done when selling a property and those tasks take time. First of all, properties need to be prepared for sale. This includes taking care of minor repairs, cleaning and staging. There are also digital marketing tasks to take care of. For example, to sell your property, it’s key to take good quality photos and video and to showcase your property on all avenues of social media. You’ll need to devote time and money into traditional methods of marketing as well, like flyers and printed ads.

When your property is ready – it’ll need to be shown. If you’ve marketed successfully, you can expect dozens of calls and inquiries into your property within the first week alone. One of the most time-consuming aspects of selling a home is being available for, and present at, home showing. All these things get taken care of with the help of a realtor.

They Have the Skills Needed

It’s true that there are some unskilled realtors in the business but if you hire the right realtor – one who is highly skilled and accomplished – they will excel at strategy, marketing, pricing and negotiating. This is especially important when the offers start coming in.

So ask yourself, are you a natural negotiator? Are you familiar with pricing strategies? What about the legalities relating to selling your home? There are various legal aspects that you should be aware of in order to avoid any legal pitfalls, especially at closing time.

In terms of marketing, there is so much more to selling your home than posting it on MLS. The only way to get your home sold quickly for top value is to have your property seen by as many people as possible. Without efficient and stellar marketing, the chances of this happening are slim.

What Is the Actual Worth of Your Home?

Knowing how much a home is worth takes deep knowledge about the market. It’s key to know not just what properties are listed for, but also what they are sold for.

It also takes an expert eye to know how much each specific feature of your home adds value to its overall worth. Be aware that some features may even subtract value so it’s key to be realistic and objective about the actual value of your house.

Research tells us that without the knowledge of a realtor, most people overvalue their homes because there are so many meaningful emotions tied into it.

Expert real estate agents know how to execute all elements of the sale – staging, marketing, pricing, strategy and negotiating. It may seem tempting to save money in commission and forego the help of an agent, but you may actually end up selling your home for much less than what you would pay in commission costs.

So, if you’re looking to sell your home or property and decide to try out hiring a real estate agent, feel free to contact us at Rego Realty and see how we can be of benefit to your property selling needs.

Tips For the First-Time Home Buyer

Posted: 6/19/2020 | By: admin

Buying a home is probably the single biggest investment decision most people will ever make. In choosing the perfect home, there are so many factors to consider, like price, location or whether to buy new or resale. As a first-time home buyer, going through the process can be challenging and very overwhelming.

To help you with your first-time buyer’s journey, we’ve compiled 5 key tips to get you started on the right track.

Start Saving for a Mortgage Early

Saving money requires work! This is especially the case when saving for something important and hefty like a home. Saving for a home is going to take time, so start saving as early as you can.

Also, start by identifying real priorities and which areas of your life you can cut back on expenses. For example, do you eat out all the time or shop for the newest and latest gadgets all too often? Cutting back on extra spending can help you start to build your nest egg.

The best way to analyze and make decisions about saving is by making a budget with your ultimate goal in mind – buying your own home!

A key point to keep in mind is that the higher your down payment is for a mortgage, the lower the monthly payment will be. And don’t forget – you’ll need to save more than just enough for a down payment because of additional expenses including mortgage fees, taxes, insurance and other related costs.

Determine How Much You Can Afford

Of course, before you even start looking for a home, you’ll need to determine what you can afford. As a first-time home buyer, you need to have a full picture of what your financial obligation will be.

Many home-buyers look at homes that cost what their maximum pre-approval amount is, and that’s not a wise thing to do. Just because you are qualified for a certain amount, that doesn’t mean that you can or should afford a home for that particular amount.

You need to look at ALL of your monthly expenses when assessing how big of a mortgage you can truly afford.

Hire The Right Agent

For first-time buyers, so much is unfamiliar and it will probably feel like you’re trekking through uncharted territory. Choose someone who is knowledgable, experienced and who understands the true value of a property and whether or not the selling price reflects this. Remember that agents have access to listings before anyone else so it’s essential to choose a real estate agent who will have your best interests in mind and understands exactly what you’re looking for.

Stick to Your Budget

Once you’ve determined what you can afford (remember pre-approval amount is your ceiling), you need to stick to a budget. This can be hard when you find a home you love. It’s tempting to make a high-priced offer you may think is sure to win, but in the end, you may be putting yourself in a strained financial situation.

Don’t let your emotions take over. Stick to your budget to avoid a mortgage payment you can’t afford.

Don’t forget – monthly expenses are not just your standard, planned monthly costs like mortgage, phone, and utilities. You’ll also want to account for other expenses that are unplanned, like a broken dishwasher for example.

Pick The Right Home For You

This is probably the most enjoyable stage of home-buying: List everything that you need or want in your new home. Make sure the list is in order of importance. Usually, the top of the list should contain the more important needs like neighbourhood amenities, commute time to work, quantity and size of rooms, etc.

Then work your way down the list and be realistic about what your real priorities are versus the things that are just nice little extras. Remember to always research the neighbourhood and look at crime and overall safety statistics, noise levels, traffic and where the closest amenities are.

Buying a home for the first time can be a real test of emotions and patience. It’s a roller coaster of feelings that can be scary but also fun, so make sure you have the right professional who will help you along for the ride.

If you’re a first-time home buyer, contact us at Rego Realty and we can help you with your new and exciting journey!

Worth A Thousand Words – Why Photos are Key to Selling Your Home

Posted: 6/19/2020 | By: admin

When selling property, pictures and video make the largest and quickest impression on potential buyers. Research tells us that about 83% of buyers report pictures as most important in an online listing.

Although pictures alone will probably not sell your property, they will surely get buyers in the door. Let’s consider the reasons why pictures and video are so important and explore some key points to help you achieve the best visual online presentation in selling your property.

Worth a Thousand Words

There’s a reason the cliche exists – but pictures are actually worth more than a thousand words! They convey to the potential buyer not only what your home looks like, but also its value. Without photos and video, buyers are not able to truly determine if a home is even worth considering.

It’s so crucial in successfully selling your home, that if you don’t have any photos, or if you have poor photos, many buyers will just dismiss your listing and probably never look back.

Quality Counts

The quality of your photos and video needs to be high. Because photographs are so important, it’s essential that you or your real estate agent hire a professional to take care of this task. A professional will cater to your needs and take the time and care to compose esthetically pleasing photos.

They’ll consider lighting, angles and picture quality when producing appealing images that will showcase all your home has to offer. This is key to marketing your home and selling it quickly.

Less Is More

Don’t over decorate. When it comes to presenting the interior potential of your home, furniture can certainly provide scale and add light to spaces. Without it, the spaces in your home are just walls, windows, floors, and ceilings. So it’s important to show the size of each space and how it can be utilized. But here is the key – once you have taken care of presenting the space, then stop decorating.

There is a point when decoration becomes more about the decoration itself and less about the house. Stop before you get to that point.

Instead, emphasize the best features of each room. For example, show off a room’s natural light and spaciousness and any interesting architecture such as a charming little nook in the corner. Highlight whatever else in your house that displays the uniqueness of your home.

Don’t Forget Video

In addition to static photographs, use eye-catching video to make your property stand out and express the entire layout of your home. Watching a video of your property makes it easier for a potential buyer to envision themselves living there.

Also, if your property is large, using drone footage is definitely worth considering.

Remember, photos and video can make or break a sale or even a showing! Going with an experienced real estate agent who understands the value of visually marketing your property is essential. We recognize the huge impact pictures make on the success of selling your property, so don’t hesitate to contact us at Rego Realty. We are here to help!

Advice for First-Time Home Sellers

Posted: 6/19/2020 | By: admin

Selling your home for the first time can seem daunting. The market looks complex and you’ve probably heard horror stories about unqualified buyers, unsold homes and nightmare real estate agents who don’t have your best interests at heart.

So, when it’s time to sell your home you’ll need sound advice and the right guidance so that you don’t end up with your own bad story to tell. Keep in mind we are not just talking about financials. Selling your home can be an emotional time because of the deep sense of attachment to it. Chances are you’ve celebrated holidays and entertained friends and family and created great memories within its four walls.

So we’ve put together some advice that will help you confidently go forward with the sale of your home. Consider the following:

Change Your Perspective

Changing your perspective about your home is very important and should start to happen as soon as the decision is made to sell. Despite the emotional attachment you may have to your home, the distancing process has to begin because your home is now a financial asset. It’s become something to be marketed to others. As hard as it is, try to put aside your emotions and concentrate your energy on selling your property. It helps to remind yourself that you will be moving somewhere else, to an even better place that you can call home.

The Price Has to Be Right

Pricing your home is not something you normally do without enlisting the help of a reputable listing agent. Refrain from choosing your cousin’s sister-in-law, for example, who just dabbles in real estate as a side job. You’ll fare much better if you select an experienced real estate agent who sells a fair number of listings, preferably in your neighbourhood.

Be Flexible with Showings

Showings are an integral part of selling property so you’ll need to be flexible with times.

“If you’re finding home showings to be an imposition, consider taking time off or going away on the weekend your home is put on the market.”

It’s true that it can feel a bit intrusive allowing strangers to walk through and “inspect” your home, but this is the best way to sell your home. Your presence is not needed and it’s best to let the buyer tour the home, with the buyer’s agent, in peace and quiet.

Find The Right Real Estate Agent

First of all, your home will not sell itself and in order to get the most money from the sale of your home, you’ll need to rely on the professionals. Finding the right agent to guide you safely and comfortably is as essential as pricing your home correctly and making sure it’s in good showing condition.

Stay Positive and Be Patient

At the end of the day, you cannot control the open market. So if you’ve taken care of the important elements to prepare your home to sell, try and relax and maintain your home’s show-ready condition. If necessary you may need to consider making adjustments to the price or other terms if market conditions and feedback call for it.

But again, your real estate agent will help you understand what is the best course of action. Don’t become too distraught if selling your home takes a little longer than you expected. Trust in yourself and your agent and you can be sure your home will sell!

If you’re looking to sell your home, don’t hesitate to contact us at Rego Realty and we’ll help get you started!

5 Essential Tips on Selling Your Commercial Property

Posted: 6/19/2020 | By: admin

Is it time to sell? Maybe you’re outgrowing your current location or are ready to retire from a business you’ve owned for decades.

Whatever the reason, there are some essential tips you’ll want to implement that will help you sell your commercial property quicker and at a price you want. Take a look at these 5 fundamental points.

Effective Pricing Strategy

One of the best ways to determine what price to set your property at is by checking out your competition. Finding comparable properties that are similar to yours and take note of what they are offering. Pay close attention to the location, amenities, and lease rates so you can have a good idea of how you stack up to the competition.

Marketing Your Property

Of course, in order to find a buyer for your property, potential investors need to know that your property is available before they can send offers. The key is not to get stuck using one form of advertising. Instead, make use of all marketing channels, including traditional, digital and social media. This will lengthen your reach to potential buyers and attract the right one. And by attracting the right buyer for your property, chances are you’ll sell the property faster. Also, don’t forget to ensure your information is up-to-date and accurate.

Have Curb Appeal

It’s essential that you take a really good look at the outside of your property. Be objective and try to envision what would make your property appear fresh and more appealing. Maybe you need to spruce up the landscaping, power wash and or throw on a good coat of paint.

First impressions can make or break a potential sale so it’s imperative you clean the windows, replace any that are broken and repair any other issues with the roof and parking lot potholes. If your building looks neglected, it will discourage buyers and affect the sale price.

Visually Wow Potential Buyers

We mentioned about adding a fresh coat of paint outside but don’t forget about the inside as well. A fresh or new coat of paint inside can help sell a property by making the interior look clean and well maintained. Again minor repairs need to be taken care of and the flooring and carpeting must be in good condition.

Clutter is not good so tidy up workspaces and keep common areas like break rooms looking clean and well maintained. During this time, it’s a good idea to communicate with employees or tenants in order to get their support in keeping the environment orderly and clean.

Find The Perfect Realtor

It takes a lot of work in order to succeed in selling your property. For commercial properties, the selling process can be complicated and hard to navigate so finding the perfect real estate agent is crucial; there’s is a lot at stake.

Find a trustworthy, hardworking realtor who is experienced in commercial sales and build a solid relationship with them. Your real estate agent needs to provide guidance, comparable sales reports, demographics, traffic counts, marketing and all other factors essential in the commercial property selling process.

We at Rego Realty provide the expertise and support along with a full range of services for all your commercial sales needs. Contact us today.

How to Successfully Sell Your Luxury Property

Posted: 6/19/2020 | By: admin

When selling a luxury home, the real estate market is different so if you’re selling a high-end property, everything from how you price the property to how you market it has to be modified for a different type of buyer.

For example, since a luxury home is in a higher price bracket, you’re going to need to carefully make decisions that appeal to a group of buyers who have higher expectations and more to spend. Also, consider that the more a property is listed for, the narrower the buyer pool becomes. This may mean you’ll have a long journey ahead of you.

So in order to successfully and smoothly sell your luxury home, we’ve come up with a few significant tips to help you on your journey.

Work With an Experienced Realtor

Working with a realtor who has extensive experience in the luxury property market is incredibly important. Like we mentioned earlier, this is a different market and it’s also a more difficult market. Proper steps have to be taken to ensure the home is sold in a fair, timely manner, and at a market value price.

Your real estate agent must have an active marketing plan in place. It’s not as easy as just listing your home in hopes that it one day sells. Your realtor needs to have a deep understanding of luxury homes sales and should have a proven track record of success.

Use High-End Photography and Video

Think quality and quantity when it comes to the visuals in selling your property. Along with stunning photos, give your listing a boost by including a virtual tour and videos of the property. Even drone shots can provide prospective buyers with a full view of the area and outside settings of the home, especially if the property has a lot of land. Having multiple high-quality images and video helps buyers decide whether it’s worth coming to view the property. This is especially the case with foreign buyers who make up a large portion of the luxury home buying market.

Skip The Open House

When selling a luxury property, you’ll want to create an air of exclusivity. This means ditching the public open houses in favour of appointment-only viewings. You’ll not only make buyers feel privileged to see the property, but you’ll also avoid the time-wasting non-buyers who will most likely come to see your home just out of curiosity.

Remember in the case of luxury homes, it’s not about getting as many buyers as possible, it’s about getting the right buyer through the door.

The Price Has to be Right

Pricing a home correctly is extremely important whether you’re selling a $100,000 home or a 1.5 million luxury home. Setting the right price is one of the trickiest decisions to make because if you price it too high, you risk letting your home go stale on the market and if you price it too low, you might end up getting less. You have to find that perfect middle ground where the price speaks about what your home has to offer and what it’s true value is. To attract the right buyers from the beginning, and get as much as you can from your property, the price should be competitive.

Here is where having an experienced real estate agent matters.

Selling a luxury property requires a give and take between you and your ideal buyer. And aside from a little bit of luck, having a good strategy is necessary. Following the tips above will help and we at Rego Realty are more than happy to help you successfully sell your next luxury home. Contact us today!

5 Tips For Buying The Right Home

Posted: 6/19/2020 | By: admin

It’s been said that buying a home is one of the biggest, most important purchases you’ll ever make. We couldn’t agree more! It’s a big deal because you’ll be spending a big portion of your day to day life in your home.

So you want to make sure that the house you end up in, is perfect for you and your lifestyle.There are many factors to consider when buying a home and we’d like to share 5 tips that will help you chose the right home.

1) Prioritize Your Needs and Wants

When making large purchases, sometimes compromises have to be made in order to budget your needs and your wants. This is definitely the case when buying a home. So you need to think about your lifestyle and what is most important in order to feel happy in your home.

Prioritizing also helps to narrow down your options and can make decisions easier when it comes time to make an offer on a home.

We suggest you create a checklist of your needs and wants. In that list, include things that are outside of the actual house as well, like closest neighbours, green spaces, and commute times to work.

2) Pick The Right Neighbourhood

Picking the right neighbourhood is key to feeling happy in your home. Even if you found what you feel is the perfect home, that decision could be all wrong if it’s in the wrong neighbourhood.

Be sure to do your research and investigate the area. For example, where are the nearby schools? Even if you’re not a parent, the proximity of buildings like schools and hospitals affects your home value. So map out amenities like churches, grocery stores and community centers.

Also, look at the local crime and safety statistics of the particular area you’re interested in. It doesn’t hurt to also take a drive around the neighbourhood at different days and times to get a feel for the amount of traffic and noise level in the area.

3) Type of Home

You’ve prioritized your needs and wants and have a good idea of the location you’d like to live in. Now it’s time to decide the type of home you want.

It’s always good to consider all options because what may seem ideal, may actually not be what’s right for your lifestyle. There are major differences in each type of home. A single family home is big, private and tends to cost more. Whereas a townhome or condo will be smaller, less maintenance and potentially cheaper.

Consider the pros and cons of each when deciding on the type of home.

4) Make Use of Open Houses

Open houses offer you the opportunity to assess a home’s overall condition and can help you to make the right decision. Take advantage of these opportunities to ask questions about the home like when it was built, and how old the key systems, like heating and air conditioning, are.

Also touring a home in person gives you a chance to see details like stains, disrepair or odd smells. It also lets you feel the home out and decide whether you can picture yourself living there.

5) Use the Right Real Estate Agent

In buying a home, you’ll be working closely with a real estate agent so it’s key that you find someone who understands what you’re looking for. You need to feel that your agent is 100% on your side. The right agent should also be highly skilled and knowledgable about the area.

In a nutshell, you need someone you can trust and who will give you quality advice.

Finding the right home may not be an easy task on your own, but with the right real estate agent, you’ll raise your chances in finding the perfect home. Contact us at Rego Realty and we’ll help your home buyers journey be an enjoyable and successful one.

Picking The Right Condo for Your New Family Home

Posted: 6/19/2020 | By: admin

When it comes to buying a new family home, the gold standard is no longer the typical single-family home. There is an ever-increasing demand for condo living and the right condo can be family friendly, convenient and affordable. So if you’re in the market for a new home for you and your growing family, consider these tips to choosing the right condo for your family’s needs.

The Right Location

Many condominiums are built in strategic locations that are very family friendly. They are typically closer to shops, grocery stores, parks, schools, churches and community centers. The right location can bring convenience and easy access to practically everything that individual members of the family would need. And chances are, it’s within walking distance!

Also, most condos are built close to highway access so commuting can be less stressful and time-consuming.

Family Friendly Amenities

Some condos offer fantastic amenities for your family to enjoy. Many amenities like pools, fitness centers, and playgrounds are common areas shared among neighbours, which is a perfect opportunity for everyone in the family to get to know and socialize with fellow families.

Party rooms are also common in most condos so hosting a child’s birthday party is conveniently just steps away from your home.

The environment in condo neighbourhoods is usually one of a tight-knit community where everyone looks out for one another and helps keep the community safe and secure.

Maintenance and Repair Free

We’ve all heard the condo catchphrase ‘maintenance-free’ many times but in a busy family, this has never been more important. Not having to worry about mowing the lawn, shoveling the sidewalk or dealing with roof repairs, for example, is a major perk that allows for more time to be spent as a family.

Families don’t want to be dealing with maintenance and repairs on a Saturday or Sunday when they’d much rather be out spending time together as a family.

Condo living is becoming a reality for more and more families. It’s become a better alternative to owning a home, especially with all the comfort and convenience it affords.

Not only is buying a condo a long-term investment, but it also should serve your family’s needs and provide everyone with a good quality of life.

If you’re thinking of buying a property for you and your family, contact us at Rego Realty and we’ll help you consider what condo is right for your family.

Now is The Right Time to Invest in Property in the Tri-City!

Posted: 6/19/2020 | By: admin

Kitchener-Waterloo and Cambridge have been highly regarded as one of the best places to invest in not only in Ontario but in all of Canada.

What makes the Tri-city such a hot spot for sophisticated and savvy investors?

Here are three great reasons to Invest in property:

A Top Tech Haven and Diverse Economy

Expert Market released a new report revealing Canada’s top “tech haven” cities. The Tri-Cities of Kitchener, Waterloo, and Cambridge came out on top. They placed first, beating out major cities like Toronto, Ottawa, and Vancouver.

Expert Market ranks cities based on the availability of tech talent, how entrepreneurial the city is, and the amount of venture capital available. Tech giants Communitech, Desire2Learn and Google have earned the Tri-City area its nickname, the new “Silicon Valley” so it’s no wonder why this area has become a secure haven for investors to place their money and watch it grow.

Along with its rapidly growing tech sector, the Tri-Cities is known for it’s large and strong manufacturing base with companies like Toyota, Manulife, and Sun Life Financial.

Lots of Post Secondary Institution Options

With 3 top universities (Waterloo, Laurier, and Guelph) and a top college (Conestoga College) all within a 30-minute drive, the Tri-Cities gives people plenty of options when deciding on their education and future careers. Having these highly ranked institutions promotes job growth now, and in the future. This is a huge benefit because new jobs equal more people moving to the area. So for the investor, this means an increase in rental demand and cash flow.

Centrally Located and a New LRT Transit System

Another factor to consider is where the Tri-Cities is located. With only an hour to major surrounding cities such as Toronto, Hamilton, London, Mississauga, and Oakville, it’s no wonder the population in Kitchener, Waterloo and Cambridge continue to grow.

With the new LRT (Ion Light Rapid Transit) and plenty of property investment opportunities flooding into the Tri-Cities, the potential for investors buying top-notch properties is great. Many are investing in the downtown community just minutes from an LRT station and collecting long term cash flow.

The Tri-Cities is one of the hottest areas for real estate investment in Canada. With an extremely robust economy, a booming tech hub and efficient new transit system, investing here couldn’t be more timely!

If you’re a new or seasoned investor, contact us at Rego Realty, and we’ll help you find the right property for your Tri-Cities investment venture.

Shopping for a Place to Live? The Benefits of Buying a New Home

Posted: 6/19/2020 | By: admin

Are you in the market to buy a new home? Debating whether to buy a new build or resale home? The decision may not be an obvious one. There’s more to buying a home than just dollars-and-cents, it’s really a choice between lifestyles.

To help you decide if buying a newly built home or condo is the best choice for you, here’s a list of the benefits of buying new:

No Repairs or Renos

Because everything in a newly constructed home is new, there is no need to invest more time and money to renovate and improve the condition of the home. There are numerous costly components in older homes that will be close to, if not already, needing replacement. Components such as – furnace, air conditioning unit, water heater, roof, doors, windows, and appliances.

With a new home, these components are new and are under warranty, sometimes up to 10 years.

Newest Amenities

Newly built homes can make your life easier and convenient since many are fitted with some of the newest techy amenities available. New constructions can include home automation systems in terms of lighting and temperature adjustment. Not to mention, new homes have also integrated sophisticated wiring for high-speed electronics, entertainment and security systems.

Energy Efficient

It’s easy being “green” in a newly built home.

Whether you’re concerned about the environment or the money you’ll spend on energy bills, a newly constructed home is the way to go because they are built with energy efficiency in mind. Unlike in the past when energy usage was an afterthought, homes today must meet tougher code standards for energy efficiency. That’s why new homes come with energy certifications covering the windows, doors, walls, roof and even appliances.

Customized Design

When you buy new, you can often participate in the design of your home!

Instead of having to inherit someone else’s choice of colour, flooring, countertops, and cabinetry, you can select your own so that your home reflects your tastes. This appeals to a lot of people because when you look into buying a resale house, chances are you’ll end up with a very outdated layout and design. Older homes have lower ceilings, fewer windows and bathrooms, and smaller kitchens, among an old fashioned design.

Never Been Lived In

The greatest appeal to buying a newly constructed home is that it’s brand spanking new – every room clean and untouched (think bathroom!). The word “new’ really applies in this case so you’ll be moving into a house or condo that should be complete and perfect.

It’s like that “new car smell”. Now it’s a “new house smell” and that’s a luxury most people would love.

Remember when you’re buying a home, it should be about you – your lifestyle, needs, and goals. It’s an exciting time and you’ll want the experience to be a good one! If you’re looking to buy a home and need some guidance, don’t hesitate to contact us at Rego Realty and we’ll help you decide what home is right for you.

Urban Mature Living is Perfect for Empty-Nesters

Posted: 6/19/2020 | By: admin

Now that your children have grown, spread their wings and left the family home, you’re probably reflecting on your new life as an empty-nester and reconsidering your real estate needs. The three-bedroom house you’ve always owned may seem a bit much now that there are fewer people to fill it and so what was once a large and perfect family home, now seems profoundly incompatible with your new situation.

We have seen a rising trend with older adults in the empty-nesting stage. More are selling their homes and downsizing considerably for a liberating and relaxing downtown condo lifestyle.

There are significant benefits to high-end, urban, independent mature living spaces.

Here are just a few:

Hassle-free

Condo living provides all the basic needs while eliminating the hassle that comes with home maintenance, landscaping and repairs. Nobody wants to find themselves mowing lawns, trimming trees and spending hours cleaning and repairing leaky faucets and roofs. With condo living, these hassles are taken care of by someone else. Landlords or property managers are responsible for these and other maintenance needs.

Leaving maintenance and repairs up to others gives you more time to do things that bring you joy. As an empty-nester, you’ve done your job for years and now it’s time to enjoy life and relax!

Speaking of enjoying life, this brings us to another benefit to condominium life:

Amenities and Community

Imagine living in a quiet, mature community where a variety of amenities like a pool, gym or outdoor lounge are included in your property purchase. Typically condos provide services such as these and other fantastic features that create opportunities to know your neighbors and socialize. They are also usually within proximity of transit, walking trails, parks, and shopping.

With urban condo living, there is definitely a deep sense of community characterized by a great mix of culture, landscaping, and architecture.

Safe and Secure

Condos typically come equipped with underground parking, surveillance cameras, locked entries and may even have security staff on site so that tenants don’t need to worry about intruders. Most condos are reputed to be safe, secure and well maintained in order to ensure everyone’s safety and well-being.

The appeal of condo living among empty-nesters looking to downsize is at an all-time high.

With quiet, secure and maintenance free living, buildings like Barra on Queen in Kitchener Waterloo is one of many desirable locations. It’s ideal for mature residents looking for a wealth of amenities and urban living among beautiful, calm surroundings.

With quiet, secure and maintenance free living, buildings like Barra on Queen in Kitchener Waterloo is one of many desirable locations. It’s ideal for mature residents looking for a wealth of amenities and urban living among beautiful, calm surroundings.

Meridian to the Rescue: Record Low Mortgage Rate

Posted: 6/19/2020 | By: admin

Anyone in Ontario trying to buy a home knows just how difficult it is to establish yourself as a first time home buyer. Soaring prices and increased demand are making it near impossible to afford even a basic entry level home.

Meridian Credit Union has raised hopes this Spring with a new 1.98% 2 year fixed mortgage, exclusive to primary residence owners, that blows its competitors out of the water. Offers like this are the stuff of fairy tales and Meridian is the knight in shining armor for many who feel hopeless within an increasingly inflated market. Like most fairy tales though, Meridian’s offer has a deadline and when the clock strikes midnight it will be gone.

Meridian’s promotion applies to a maximum mortgage amount of $925,000, requires a minimum of 20% down payment, and does not apply to refinance. Comparatively, Meridian’s offer beats every other mortgage rate by a full percentage point or more, and paired with Meridian’s diverse mortgage features including 20/20 prepayment privileges (allowing for a 20% lump sum payment on the principal mortgage balance, or a 20% increase of your monthly payment plan each year), flexible scheduling, and mortgage protection it may be an offer worth acting on.

Excluding commercial and rental properties from this promotion, Meridian has assessed the struggle of the first time home buyer and offered a solution when hope seemed lost. No doubt they will acquire many new clients from this promotion and in the long run, everyone will win.

If you are as excited about this rate and how it can work for your next home purchase, contact the Rego Realty Team.

Renovation Consideration

Posted: 6/19/2020 | By: admin

Whether or not you are considering selling your home in the near future, building on your investment is often a good idea assuming you are able to do so.

It is a large endeavor to take on and oftentimes all considerations are not anticipated and homeowners find themselves underprepared and over budget before they know it. Here are some things to consider before you take on a home renovation to prepare you for every possible outcome and leave you with the right tools to deal with the unexpected.

Save Before You Spend:

This may seem like common sense, but the excitement bred by ideas and dreaming often leads to starting a project before the groundwork has been laid. In order to take on a proper renovation, you will need appropriate funds. Not only should you save for your projects, but on top of that, you should have contingency funds for possible emergency situations so you can avoid using the money you don’t have to bail yourself out. The adage “fail to prepare, prepare to fail” illustrates this point most effectively. By saving funds ahead of time you are also saving yourself a lot of stress in the long run.

Set a Budget and Stick To It:

So now that you are planning on saving ahead for your renovation project you need to decide how much money you will need in the bank before you commence the demolition. Here is where you need to start organizing your project, Write a list of everything you will need. Will you hire a contractor? Will you do the work yourself? What are the pros and cons of both of these options? One may cost less financially, but what will it cost you physically and mentally. Figure out the cost differences, and acquire quotes from different contractors for your project so you can pick the best option. Always OVER-Budget, add an extra 5-10% on top of your renovation budget for unforeseen costs. Though you may need to revise your budget as you go, the main items shouldn’t change much from the original budget. The research you accumulate during the budgeting phase should be comprehensive and factor in as many aspects of the renovation as is possible.

Be Realistic:

In an ideal world, a dream kitchen renovation with beautiful high-end finishes, full granite island, top of the line stainless steel, and custom maple cabinetry would be a simple handshake away from completion. Unfortunately, not every budget and timetable will allow for this extensive job. Consider, using the kitchen example, that you will be without a kitchen for the duration of the renovation. Unless you have two kitchens in your home, which most do not, you will need to factor eating out into your budget. Next, does your dream renovation line up with your established budget? Is your vision realistic or do you need to scale back to a more reasonable game plan? Be honest with yourself about what you can afford and what amount of time you are willing to have your house be a construction zone. After establishing realistic goals you can move ahead with your home renovation with confidence.

If you are considering a home renovation to increase the value of your home, talk to Rego Realty about what upgrades will best reflect on your home’s resale value.

The Supply and Demand Crisis of Ontario Housing

Posted: 6/19/2020 | By: admin

It is not uncommon knowledge that housing has gone up in price over recent years. It is all but an unattainable goal as a young professional, newlywed couple, or any individual not already invested in the housing market to get a foot in the door.

The shortage of homes increases the price tag of the few homes that are available, putting more pressure on first-time buyers to spend more than they can afford.

The Ontario Government have been presented a viable solution by the Ontario Real Estate Association (OREA) and Ontario Home Builders’ Association (OHBA). OREA and OHBA posit that mandating as-of-right (AOR) zoning which allows for development up to a predetermined height, would solve the housing supply issue in Ontario.

AOR zoning satisfies all of the rules but does not require special permits which cuts the waiting periods and red tape down. AOR zoning would be targeted along the extensive transit line running through Ontario boasting over 200 main stops and allowing for a more effective commute from a more affordable housing base.

The zoning rules currently in place do not reflect the current demand for accessible and affordable housing for up and coming investors.

Were the AOR zoning adjusted it could mean thousands of more affordable homes each year, which would lower the bloated prices on a low supply market and relieve a lot of the current housing burden being felt by many.

Whether or not the Ontario Government chooses to listen to the requirements of its citizens and adjust the current zoning rules remains to be seen, but the demand is real and the supply is inadequate. For those Ontarians who hope to achieve homeownership that will not leave them in over their head, this answer could mean making what seems like a pipe dream into a reality.

If home ownership is in your future but you’re discouraged by the current inflated market. You can contact Rego Realty to ask any questions regarding the real estate market and how to find a home which fits your budget.

Finished: Home Appraisals: What is Involved

Posted: 6/19/2020 | By: admin

A home appraisal is a neutral estimate of the current fair market value of your home. What is it and what is involved!?

All lenders will require an appraisal during the mortgage loan process so that there is a way to gauge your home’s worth and make sure that the requested loan matches the purchase price. Or, if you are selling your home it is important to know what your home may be worth.

What does an appraisal include and who does it?

The appraisal can include such things as the property’s location, sales information for like properties, and the condition of the property as it stands.

Appraisals are performed by certified and/or licensed individuals who have been trained to assess the value of a property from a neutral position in a fair and objective manner. No one is perfect, but the depth of knowledge and experience obtained through training, experience, and mandated continuing education.

The appraisal agent will look at the exterior of the home: the foundation, walls, and roof which make up the bones of the house. They will be looking for damage and defects that need to be reported.

For any questions on this process, feel free to contact the Rego Realty Team anytime!

They will also look at the size of the property, both the home itself and the lot size. The number of rooms will also affect the value of the house, more rooms equal more worth. Even if the bones of the property are good, the interior could still require work. The home appraiser will assess things like windows, doors, flooring, plumbing, and electrical work. If you have renovated your home after purchasing it the appraiser will want to know. Improvements made to your home will obviously increase the overall value of your home. Small niceties will also add to the value of your home, things that may not be considered necessities but make your home more appealing by their very presence. For example central air conditioning, swimming pool, fireplaces, or a security system that is already in place.

There a quite a few things to consider when getting your home/or a home you wish to purchase appraised. Ask a Rego Realty agent about any other things you should consider before your assessment to make sure your home is appraised for its best value.

Knowledge is Power: Ask the Right Questions

Posted: 6/19/2020 | By: admin

Are you looking to buy a home sometime soon? Is this your first time purchasing a property. The process of looking for and purchasing a home can be overwhelming and difficult to organize.

There are some very obvious questions to ask when considering a specific property, but there are a lot of questions that are forgotten in the hustle and bustle that could affect the bottom line in the end. Consider these questions when buying a home and save yourself the stress that comes along with unanticipated costs.

Will the windows need to be replaced?

New windows can be a pricey endeavor, and the last thing you want after buying a new home is an additional large cost you didn’t anticipate. Be sure to ask if the windows close properly and if they are well sealed.

What is the position and quality of trees?

Considering the position, age, and condition of the trees on a property is a good idea, and something that could be easily overlooked when searching for a house. Consider what the trees will look like in summer with a few complement of leaves, will this block a lot of the houses natural light, how many leaves will you need to rake in the fall, could the trees fall over in a storm and hit your house?

Does the ground slope away from the house?

Does the house sit at the bottom or the top of a hill? Where does the water flow? What is the condition of the grading around the house? Homes with bad grading can flood during extreme weather conditions.

Are the gutters in good condition?

Good gutters will divert water away from the house, are not dented, rusted, and do not allow water to spill onto the ground close to the foundation. Replacing gutters could add an extenuating item to your house budget.

How do the schools rank?

Not only is the ranking of local school relevant to your current needs for your children, but it could also be a factor in the future should you decide to sell and can affect the value of your home to potential buyers.

If you have any questions you want to ask us, Rego Realty is always here for you.

Whether you are a first time home buyer or you have been through the process before there are always questions that will fall by the wayside when considering a purchase. As in most situations, knowledge is power, and asking the right questions will keep you in the know, preparing you to make the best decision for you. Ask the Rego Realty Team about the types of questions people don’t think to ask and prepare yourself in advance to set yourself up for success.

Budget For Your Future

Posted: 6/19/2020 | By: admin

First-time homebuyers are often excited at the prospect of owning their first property. The emotional upswing of living out the personal goal of purchasing your dream home can leave you in an idealistic mindset, which is a good place to be. But make sure that along with your hopes and dreams you are considering every angle to ensure you are making the best choices for your future.

When budgeting for a dream home a lot of factors are unfortunately not taken into consideration. Make sure to sidestep these easily avoided budgeting mistakes made by first-time homebuyers and turn your dreams into reality:

One of the biggest mistakes made by homebuyers is going beyond their budget:

Budgeting for your home is important because you need to set a realistic standard for what you can afford in terms of your dream home. Making your dreams come true is easy when you plan for it! Some costs to consider when budgeting are:

  • Home appraisals ($300-$500): A home appraisal gives the home buyer the market value of the home they are looking at based on many things. The age of the home, condition, and location being a few.
  • Property Taxes/Utilities (you can ask the homeowners about the average utility and property taxes when viewing the home). You may even need to reimburse the previous owner for prepaid costs of such amenities.
  • Insurance ($700-$950/year depending on the value of the home)
  • Closing costs (approx 1.5%-4% of the purchase price of the home). Land Transfer tax, legal fees, and title insurance are a few things to consider.
  • Land Survey Costs ($400-$1000). Essentially land surveys make it clear where your property line lands. This gives you a legally binding map of your properties boundaries should you decide to renovate or erect fences between properties.

Your budget should not only consider the cost of the home itself but ongoing costs that will affect your day to day budget once you have settled in your home. The Rego Realty Team will make sure you consider all of these angles when setting you up with your dream home.

Open House Strategies: First Impressions Count

Posted: 6/19/2020 | By: admin

In the search for your ideal home, you are going to find yourself attending more than a few open houses. While the etiquette of viewing a home that you may one day call yours may seem like common sense, here are a few considerations that will give you an edge as you commence your search.

Be efficient: If you are going to spend your Sunday afternoon strolling through strangers en suites and poking your heads into pantries you might as well get the most bang for your Sunday buck. Check out the area and map out a strategy for your Saturday open house viewings. It takes approximately 30 minutes to walk through an open house, and 45min-1 hour for a private viewing. Leave yourself enough time for each viewing, and organize yourself so that you view all the listings in one area before moving to a new location.

Be Respectful: Remember this is someone’s home, and you are essentially a guest. Keep negative comments to yourself, remember that if you don’t have anything nice to say it is best not to say anything at all…at least until you’re in your car.

Dress Appropriately: This is not a job interview, but it is definitely a business deal. Perhaps a suit and tie may be overkill, but you also don’t want to dress so casual you look out of place. Dress with the goal of making a good first impression so that if you should find yourself negotiating to buy this home you will be taken seriously.

Considerations: Try not to sit down, or at least touch before you decide to sit. Many staging companies use faux cardboard furniture, and air mattresses to stage with, and nothing would be more embarrassing than falling flat on your back in an open house full of people, you’re welcome.

If you would like to know when the Rego Realty Team is running open houses feel free to send us a message.

All in all, your open house experience should be strategic. You want to be taken seriously as a buyer and set yourself up for the best possible outcome should you find a home you wish to pursue. Consider these tips to help you set yourself up for success.

Sprint to the Finish: Sell Fast for The Most Cash

Posted: 6/19/2020 | By: admin

If you’re looking to sell your house for the most money, the key is to sell your house as fast as you can.

To gain a better understanding of the importance of timing and the current market, you can check out our previous blog post. The first 1-2 weeks of your listing is the point where you have the most exposure. It’s new, it’s exciting, all agents and qualified buyers are fully engaged.

It’s also the point where you have the most leverage; buyers, knowing the listing is new, sense urgency to act (and pay top dollar).

In order to capitalize and get the most qualified buyers looking at your home, you need to make sure you’re nailing the “3 P’s” of house sales:

  • 1. Price. You need to list at an attractive, market-based price. Agents have comparables and will know if you’re off the mark. And, if you’re too high, you may price yourself out of the range of your ideal buyers.
  • 2. Presentation. How attractive your home looks in-person and online impacts interest (showings). When done right, staging, virtual tours, HD photos, and drone videography will keep the right buyers interested and compel them to request a showing.
  • 3. Promotion. It is important to make your listing easily accessible to potential buyers. It is key to make sure everyone who is qualified to buy your house is seeing it, as early and as often as possible. Advertising on social media keeps your listing at the fingertips of tens of thousands of potential buyers resulting in thousands of additional listing views. This may add some cost the sale of your home, but it is a necessary investment to ensure your home is presented to the most possible buyers. Realtor.ca is another powerful marketing tool (because it’s free for Realtors), in addition to social media, their large database of high-end buyers and clients, will guarantee your listing is as visible as possible.
Nailing the “Three P’s” immediately is crucial. If you don’t, you could miss your chance to capitalize on a potential flood of qualified buyers – and the leverage it brings.

With the Rego Realty Team, you can be confident that price, presentation, and promotion are all optimized, setting yourself up for success in accomplishing your goals, selling fast, and for the most possible money.

Staging: Don’t Bend Reality, Deliver Dreams.

Posted: 6/19/2020 | By: admin

This world overstimulates us at every turn and forces our saturated minds to adapt and make snap judgments, this is true in real estate just as much as it is in everyday life. Our knee jerk reaction is to assess the aesthetics of a situation first because it is the simplest thing to process in the shortest time.

Apply this to the psychology behind buying a home, research has shown that the first impression of a home is one of the top things to influence a buyers decision. “A BMO study published in 2013 found that 80 percent of potential buyers know if a home is right for them as soon as they step inside.” So it is imperative that you make a golden first impression.

Gone are the days of showing lived in homes, staging is an expectation from potential buyers and so the question now is how will you choose to stage your listing? You have two options to choose from: Traditional or Virtual Staging. While virtual staging is tempting given its attractive price point and ease of use it is doubtful to deliver the same results as traditional staging.

Presenting yourself online has become somewhat of a smoke and mirrors affair for most and presenting in person as you do online is near impossible. No two-dimensional offerings are going to trump the three-dimensional reality of esthetics. The same, I believe, is true for virtual staging. While appealing as a concept the reality is if your client shows up to an empty listing expecting to see the lush decorations they were offered online they are going to be disappointed and that will affect their decision when it comes to choosing a home, virtual staging is offering a reality that will not translate in person.

Did you know that when you list your home with the Rego Realty Team, the listing package includes full-service staging and furnishings.

The cost of Traditional Staging is roughly three times the cost compared to Virtual Staging. Though more costly Traditional Staging gives your listing reliability, will yield positive emotional reactions when shown, and will not leave your clients disappointed because they are viewing the literal property listed online. So, if you are looking for a quick, inexpensive way to list your property virtual staging may be for you, remember though that you have to spend money to make money, and effort over time often yields positive results. So if you are looking for the most effective way to list a home Traditional Staging is still at the top of the list.

So if you are looking for the most effective way to list a home Traditional Staging is still at the top of the list. If you need help selling your home, contact Rego Realty to use their home selling system that can help you move your home quickly and effectively.

Do You Want More Money for Your House? Timing is Everything.

Posted: 6/19/2020 | By: admin

When it comes to real estate, timing can be just as important as location. Depending on when you sell or buy a home, you could make or save thousands. It’s still early in the year, and it looks like 2019 will end up leaning more towards a seller’s market.

The website Investopedia states that:

A seller’s market is a term commonly applied to the property market when low supply meets high demand.

According to a report by the Kitchener Waterloo Association of Realtors (KWAR) in 2018, there were 5,823 homes sold in the Kitchener-Waterloo region through the Multiple Listing System (MLS). A decline of approximately 11% from the previous year. But what caused this shift?

KWAR president Brian Santos writes, “The combination of rising interest rates and the mortgage stress test definitely took some steam out of the market relative to what we saw in the previous two years,”

In spite of this, the average sale price in Kitchener and Waterloo went up by 3.4 percent. So while there were fewer homes sold, the ones that were sold ending up selling for more.

This seller’s market has caused people to focus more on more affordable options, which is why apartment-style condominiums made the largest jump of 12% according to the report. For interested buyers, condos present an ownership possibility that many new potential homeowners might not be able to afford.

While there are lots of things you need to do in order to prepare for selling your home, one of the best decisions you can make is to utilize our team’s experience and expertise. Consider:

Access to market data that non-realtors just don’t have.

  • Knowing the closing prices and not just simply the asking prices of comparable homes is advantageous.

Understand the current market conditions.

  • As much as we try and predict a market, it can shift anytime. Understanding current market conditions is a huge benefit when selling your home.

Figuring out who your home is perfect for.

  • When determining who would be the ideal buyer for your home consider more than just the literal listing of the house, and make it easier for you to spot serious offers.

So if you are planning to sell your home in 2019 the market is looking pretty good! If you combine this optimal market with the Rego Realty home selling system, you’re setting yourself up for success. Not only will your home sell quickly, it will also sell for the most potential money.

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