homes for sale

The Right Way To List And Sell Your Home in Richmond

November 10, 2021

Many homeowners simply wish for a smooth sale when they list their home, find a qualified buyer, collect the payment and hand over the keys. However, the reality is that selling a home can include multiple moving parts, some of which you can control and some that will be out of your control.

For example, the location of your home can influence how long your house stays on the market and how much you can get away with marking up the price. In the housing market, if the inventory is low, you will have better odds that you will sell your house faster and be able to do so at a higher price point. On the opposite end of the spectrum, homeowners will need to put in more work to find the right buyer in places where some sales have cooled down.

Here are some tips you need to know when listing and selling your home in Richmond:

Hire an Agent that knows the Housing Market well

With the help of the internet, it’s easy to look into a real estate agent’s sales history and their professional certifications. This is helpful so you can choose the right person to work with. You should look up your potential Burnaby real estate agent’s online profiles to learn about how long they’ve been working in the industry, how many sales they have made and what certifications they have earned. Pay more attention to how and where they market their listings, and if they do so using professional photos or not.

Set a Timeline

Selling a house in Richmond is a major task that can take a few months from start to finish, or even much longer depending on the conditions of the market. Once you decide to sell your home, you should start immediately looking for Burnaby real estate agents so you can find someone with the right experience quickly. In fact, at least two to three months before you list you should consider getting a pre-sale home inspection and work on identifying any problem
areas in your home. Especially those that have to do with structural or mechanical issues which might need fixing in order to sell your home. So, you should leave enough time before you list to make the necessary repairs.

Conduct a Pre-sale Home Inspection

A pre-sale home inspection can be a good upfront investment choice to make, although it is optional. Getting a detailed inspection report can help you find any structural or mechanical issues before you list your home up for sale on the market. It could cost you a couple hundred dollars, but this inspection will give you advance notice of any issues that buyers might flag

when they do their own inspection later on in the buying process. You help yourself by being a few steps ahead of the buyer, and you might be able to speed up the selling process if you can do the repairs along with other home preparation activities. This means that by the time your house hits the market, it should be able to be sold relatively drama free and fast.

If you’re looking for real estate in the Vancouver area, realtor Cherry Yeung can help you find what you’re looking for. She’ll stick with you every step of the way and her excellent sales track record speaks for itself. Thanks to her extensive knowledge in home decorating, Cherry can help give your home that extra flair that can make it really stand out from the competition. Connect now at cherryyeung.com or call 604-338-9966 today.

Is now a good time to buy a house?

November 15, 2018

Real estate is a cyclical market making when you buy just as influencing as where you buy to the cost of your mortgage. Once you get pre-approval for a mortgage, you have a few months of flexibility to find a place, but that could go against you.

If the market is moving quickly, you may not be able to wait until the perfect property is listed. It is recommended to start looking as soon as you get approved at what is already listed and pick out of those selections. Although, there is one time of year when prices are lowest.

The holiday season in December has the least amount of buyers looking for homes. The chance of multiple offers or much competition is low, and sellers are more inclined to be generous during this time of year. Fewer buyers also mean fewer listings though, so the selection may not be as plentiful. In a tight market, closing on a home during an unpopular time of year can save you thousands.

Currently, house prices are levelling off after years of being on the rise, and interest rates are on the rise. While prices and listings go up and down month to month, it can be difficult to say with certainty whether buying this year is better than next. It is best to buy a home now if you plan on living in it for at least 10 years. If you cannot afford your dream home now, wait until you can to buy a home. Do not purchase a house with short-term intentions as you will end up paying more substantial real estate tax and legal costs.

It is essential to consider how owning a home will affect your lifestyle. The monthly payment may seem affordable but owning a home is different from renting in that you must also factor in insurance and maintenance. It is better to wait until these expenses are more comfortable to take on.

If you are sure about affording a home and plan on staying in it for more than a decade, then a sizeable downpayment is essential. You should put at least 20% down so that you can eliminate the need for CMHC coverage and a large down payment forces you to save aggressively. An aggressive savings plan is good practice for your future mortgage. Do not feel like you must own home for financial reasons. Buy a house because it will make you happy and continue saving until you can put at least 20% down on a place you see yourself owning for at least 10 years.

The best time of year to buy is in the winter, but if you missed this opportunity, there is no need to fret. It is more important to be sure you can take on the expenses and responsibility of home ownership. Just as it is impossible to time the stock market, it is impossible to know for sure if prices are higher or lower than they will be next year. An experienced real estate agent can help you navigate this tumultuous market and find a home that works for you.