Richmond Homes for Sale

A FAIR WAY TO ACCESS YOUR HOME EQUITY

Homes for sale

Fraction started with a simple idea: could there be a fairer way to help people access the equity in their homes? The answer is yes and with a program uniquely available only to BC, Ontario and Washington residents at this time. Access up to 50% of your hard-earned equity in tax-free cash without selling your home. Their motto is “spend a little, invest a lot, and save some for a rainy day.”

Coming from a technology background, the Fraction team approached the problem in a completely different way compared to the financial veterans who dominate the industry. They looked at the problem through your perspective as a home owner. Learn more HERE .

Houses For Sale In Richmond

The Right Way To List And Sell Your Home in Richmond

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.

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How Much Should You Budget For Expenses After Closing?

Buying a house is a very big step and a very large investment. You will need a down payment and money for closing costs but many people do not realize that there are other expenses associated with the purchase of a home after the closing period.

While these expenses can vary from one home purchaser to another, it is always a good idea to plan ahead so that your budget can cover all of the costs, and the following are a few aspects to keep in mind:

Moving costs

This will depend on the amount of stuff that you have as well as your timeline. If you need to rent storage, make sure you include this cost in your budget. You will then have to look at the costs of hiring a professional moving company versus doing it on your own and will have to determine which option would be best for you. Doing it yourself is not always cheaper because you will have to rent a truck and pay for gas, so be sure to keep this in mind.

Utilities

You will need electricity, natural gas, water, cable and internet as soon as you move in, so make sure to contact each of these service providers prior to your move-in date to get estimates. These services will start the day that you move into your new home, so make sure you are ready for the monthly bills that will arrive.

Household items

Most people need to purchase at least a few new items when they move into their new home, so set a budget aside for items like shower curtains, lightbulbs and hampers, for example. While these items are generally inexpensive, they can add up, so make sure you factor in these costs. You may also need a new vacuum or appliances, so the costs will vary based on your needs and the most important thing is that you are prepared for such expenses.

Window treatments

Some homes do not come with window treatments or you may dislike the existing ones if they do not match your personal style or taste. If this is the case, you will have to budget for new window treatments or replacements, and the costs will vary based on the size of the windows, the quality of your preferred materials and installation. Every home needs curtains, blinds or shades, so make sure you allocate a budget for these.

It’s hard to predict the exact amount that you should budget for expenses after closing because the number will vary dramatically but being prepared is extremely important.

Cherry Yeung Real Estate can help you find your perfect home and our real estate agents will guide you every step of the way. Whether you are looking for houses for sale in the Richmond area, want to buy a condo in Vancouver or need a realtor in the Burnaby area, we can help, so give us a call today!

Houses For Sale In Richmond

Is now a good time to buy a house?

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.

Houses For Sale In Richmond

Tips for Buying a Home in the Best Location

Do you know the three most decisive factors for choosing a home? Contrary to what most home buyers believe, the answer is location, location and location. This is what experienced real estate agents believe. The primary reason for this is that your house can be upgraded to your tastes but what remains unchanged over the years is the location.

Why Home Location is Important

  • Lifestyle Comforts: It is the location of your home that decides commuting ease, proximity to convenience stores, quality of your neighbourhood, schools, hospitals and social life. All of these add up to give you the lifestyle of your dreams. Even if you pay extra for a coveted location, in the long run it may turn out to be a better bargain. Where you live decides everything.
  • Higher Home Resale Value: A home in a great location makes a better investment. There is every chance of higher returns while selling in the future. A smaller home in a convenient location will earn you more money than a bigger home in an inconvenient location. The demand increases over time with greater development.

The question is, how do you choose the best location for yourself? Popular real estate agent in the Vancouver Area, Cherry Yeung explains better.

How to Determine the Best Location

 

Geography: Start with assessing the geography of your location. Is the home located on a hilly area or flat land? Is it easy to get there or hard for guests to locate? Are you prepared for a cooler home on higher ground? Does it have adequate drainage facilities during heavy rain? Is it near the woods, near the sea or located in the heart of town? Are you prepared for wild animals invading your yard if it’s located near the woods? Geography is a factor you can’t overlook.

Urban, Suburban or Rural: Are you a city lover or a loner at heart? Would you like to be located near all amenities and conveniences or prefer to be away from it all? Do you like to spend your weekends in the mall or away from shopping centres? Do you need to be close to healthcare centres, grocery stores and most importantly, your workplace or are you willing to commute long distances? Weigh the odds carefully before making the decision.

Safety and Security: This should be a prime concern, especially if you have children or ailing parents with you. Homes in high crime or questionable areas are usually cheaper than those in safer neighbourhoods. Should you compromise on home safety for a few extra dollars? Will you be able to find a buyer for your home if it’s located in an unsafe neighbourhood?

Quality of Schools: Considering a good school district is important whether you have children or not. A premium school attracts families who place importance on quality education. Consequently, homes in the area are usually more expensive. The school district directly impacts the price of a home and conveniences in that area such as public transport, community centre and leisure activities. If you are dependent on buses, cabs or trains, you may want to keep that factor on top of your mind.

Commuting Ease: Commuting distance and proximity to the workplace can affect your quality of life. Long hours of commuting time can tire you out, increase stress and reduce your interest in your new home. Do you enjoy driving or leaving your home earlier to reach your workplace on time? Would you prefer to be located closer to your job area? On the other hand, homes in the heart of town may be more expensive and compact than homes in the suburbs.

Contact Cherry Yeung, Personal Real Estate Corporation

 When it’s time to buy a home, contact Cherry Yeung to make location hunting easier. With years of experience in the Vancouver area, she knows the do’s and don’ts of buying or selling a home. Get in touch today and get started!