Looking for answers to your questions about buying or selling a home? Our real estate Q&A page has you covered. Our team of experienced professionals has compiled a collection of answers to common questions about the real estate process, as well as expert tips and guidance to help you navigate the market. Whether you're a first-time homebuyer or a seasoned investor, you'll find valuable information and resources on our Q&A page. Start exploring today and get the answers you need to make informed decisions about your property.
Q: Which areas do you cover?
A: We provide our services in Moncton, Dieppe, Shediac, Riverview & Greater Moncton Area.
We also have partnerships with top agents for relocations throughout Ontario from Cornwall, Ottawa, Kingston, Prince Edward County, Toronto, Muskoka, Kawarthas and more. Our partner agents have been vetted for experience, expertise, communication, services, and client satisfaction.
Q: What languages do you speak?
A: Fluent in both English & French written & spoken.
Q: What are your stats? How long does it take your team to sell a home?
A: In 2021, the homes I listed for sale sold in 12 days, on average, while the average home listed for sale on the Moncton MLS, sold in 25 days.
In 2021, the homes I listed for sale sold on average, for 103.2% of the asking price, while the average home listed for sale on the Moncton MLS sold for 100.4% of the asking price.
Q: How do you market your listings for sale?
A: In addition to announcing a home is for sale on the MLS, our marketing strategy includes HDR photography, videos, floor plans and professional copywriting. Our listings are heavily promoted online, including our website; on all the important local and international real estate search portals & websites; on Facebook, Instagram and YouTube. We also invest in targeted online ads and make use of email marketing to expose our listings to our database of thousands of engaged potential buyers and their agents.
Q: What is the process for buying a home?
A: The process for buying a home typically includes the following steps:
Determine your budget and get pre-approved for a mortgage.
1. Find a real estate agent to work with.
2. Search for homes that meet your criteria.
3. Make an offer on a home.
4. Have the home inspected.
5. Negotiate any repairs or credits with the seller.
6. Get a mortgage and sign the purchase agreement.
7. Close on the home and move in!
It's important to note that the specifics of the home buying process can vary depending on the location, type of property, and other factors. It's always a good idea to seek the advice of a real estate professional to ensure that you understand the process and are able to navigate it successfully.
Q: What are closing costs and who pays them?
A: Closing costs are expenses that are incurred when purchasing a home. They include things like lender fees, title and escrow fees, and other miscellaneous expenses. Who pays closing costs can vary depending on the terms of the sale and the local real estate market. In some cases, the seller may agree to pay some or all of the closing costs. In other cases, the buyer may be responsible for paying all of the closing costs. It's important to discuss and negotiate closing costs as part of the home buying process to ensure that everyone is clear on their responsibilities.
Q: What are the benefits of working with a real estate agent?
A: There are many benefits to working with a real estate agent when buying or selling a home, including:
1. Expertise: Real estate agents are professionals with expertise in the local real estate market. They can help you navigate the home buying or selling process and provide valuable insights and advice.
2. Networking: Real estate agents have a network of contacts, including other agents and industry professionals, that can be helpful in finding the right home or buyer.
3. Marketing: Real estate agents have the skills and resources to effectively market your home to potential buyers.
4. Negotiation: Real estate agents are experienced negotiators and can help you get the best possible price for your home.
Q: How do I choose the right real estate agent?
A: There are a few key things to consider when choosing a real estate agent:
1- Experience: Look for an agent with a track record of success in the local real estate market.
2- Expertise: Choose an agent who is knowledgeable about the type of property you are interested in (e.g. residential, commercial, etc.) and has experience working with buyers or sellers like you.
3- Communication: Look for an agent who is responsive, communicative, and easy to work with.
4- Reputation: Ask for references and do your own research to get a sense of the agent's reputation in the community.
5- Compatibility: It's important to feel comfortable and confident working with your agent, so consider whether you feel a good connection with them.
Q: How do I know if I'm ready to buy a home?
A: Here are a few signs that you may be ready to buy a home:
1. You have a stable income and good credit.
2. You have saved up a down payment and have money set aside for closing costs and other expenses.
3. You are ready to make a long-term commitment to a mortgage and are prepared to take on the responsibilities of homeownership.
4. You have a clear idea of your needs and wants in a home and are able to articulate them to your real estate agent.
Q: What are some ways to add value to my home?
A: There are many ways to add value to your home. Some ideas include:
1- Make necessary repairs: Identify any necessary repairs and take care of them. This can help increase the value of your home.
2- Upgrade key features: Consider upgrading key features of your home, such as the kitchen or bathroom, to increase its value.
3- Add square footage: Adding additional square footage to your home, such as by finishing a basement or adding a room, can increase its value.
4- Add outdoor living spaces: Adding outdoor living spaces, such as a deck or patio, can increase the value of your home.
5- Increase energy efficiency: Making your home more energy efficient, such as by adding insulation or upgrading to energy-efficient appliances, can increase its value.
Q: What are some common reasons a home doesn't sell?
A: Overpricing: If a home is priced too high, it may not attract enough interested buyers and may not sell.
Lack of curb appeal: A home with poor curb appeal may not attract as many potential buyers.
Poor condition: A home that is in poor condition or needs significant repairs may not sell as quickly as a well-maintained home.
Limited appeal: A home that is not appealing to a wide range of buyers may have a harder time selling.
Competition: If there are many other homes for sale in the area, it can be more challenging to sell a home.
Q: What are some strategies for getting the most value out of my home sale?
A: Here are a few strategies for getting the most value out of your home sale:
1- Make necessary repairs: Identify any necessary repairs and take care of them before listing your home. This can help increase the value of your home and make it more attractive to buyers.
2- Stage the home: Consider staging your home to make it more attractive to buyers. This can involve rearranging furniture, adding decorative touches, and removing personal items to make the space feel more neutral.
3- Price it right: Work with your real estate agent to determine a competitive asking price for your home.
4- Market the home effectively: Use effective marketing strategies, such as professional photographs and targeted advertising, to get your home in front of potential buyers.
5- Be flexible: Be open to negotiation and consider being flexible on terms such as closing dates and closing costs to help facilitate a sale.
Q: How do I determine the right asking price for my home?
A: There are a few key things to consider when determining the right asking price for your home:
1- Market conditions: Look at current market conditions in your area, including the demand for homes and the number of homes available for sale.
2- Comparable sales: Look at the sale prices of similar homes in your area that have recently sold. This can give you a sense of what your home might be worth.
3- Home features: Consider the features of your home, including the size, age, condition, and location.
4- Professional appraisal: You can also get a professional appraisal to get a more accurate estimate of your home's value.
Q: What are some common mistakes to avoid when buying a home?
A: Here are a few common mistakes to avoid when buying a home:
Failing to get pre-approved for a mortgage: It's important to get pre-approved for a mortgage before you start shopping for a home so that you know how much you can borrow and can focus on homes that are within your budget.
Not having a clear budget: It's important to have a clear budget and stick to it when shopping for a home. Don't overspend or take on more debt than you can handle.
Not being realistic about what you can afford: Be realistic about what you can afford and don't stretch your budget too thin. Remember to factor in the ongoing costs of homeownership, such as maintenance and taxes.
Skipping the home inspection: Don't skip the home inspection! A home inspection is an important part of the home buying process and can help identify any potential issues with the home that may need to be addressed.
Q: How do I determine the value of my home?
A: There are a few key things to consider when determining the value of your home:
1- Market conditions: Look at current market conditions in your area, including the demand for homes and the number of homes available for sale.
2- Comparable sales: Look at the sale prices of similar homes in your area that have recently sold. This can give you a sense of what your home might be worth.
3- Home features: Consider the features of your home, including the size, age, condition, and location.
4- Professional appraisal: You can also get a professional appraisal to get a more accurate estimate of your home's value.
Q: How do I negotiate the sale of my home?
A: There are a few key things to consider when negotiating the sale of your home:
1- Price: Consider the market value of your home and what similar homes in the area have sold for. This can help you determine a fair asking price.
2- Closing costs: Who pays closing costs is often negotiable. Consider what you are willing to pay and what you are comfortable asking the buyer to pay.
3- Repairs: If the buyer requests repairs or credits, consider whether you are willing to make the repairs or offer credits and, if so, how much you are willing to pay.
4- Closing date: Consider whether you are flexible on the closing date and whether you are willing to negotiate this with the buyer.
It's important to work with your real estate agent to come up with a negotiation strategy that meets your needs and goals.
Q: What are some ways to make my home more energy efficient?
A: There are many ways to make your home more energy efficient, which can save you money on utility bills and make your home more attractive to potential buyers. Some ideas include:
1- Install energy-efficient appliances: Energy Star certified appliances are designed to use less energy and water, which can help reduce your utility bills.
2- Upgrade your windows: Energy-efficient windows can help keep your home warm in the winter and cool in the summer, which can reduce your energy consumption.
3- Add insulation: Adding insulation to your attic, walls, and other areas of your home can help keep your home at a consistent temperature and reduce your energy consumption.
4- Use energy-efficient lighting: Replacing incandescent bulbs with LED bulbs can save you money on your energy bills and reduce your carbon footprint.
Q: How do I prepare my home for sale?
A: There are many things you can do to prepare your home for sale and increase its appeal to potential buyers. Some tips include:
1. Clean and declutter: A clean, clutter-free home is more attractive to buyers. Take the time to tidy up and remove any unnecessary items that may be cluttering up your space.
2. Make necessary repairs: Identify any necessary repairs and take care of them before listing your home. This can include fixing any damage, replacing broken fixtures, and addressing any maintenance issues.
3. Stage the home: Consider staging your home to make it more attractive to buyers. This can involve rearranging furniture, adding decorative touches, and removing personal items to make the space feel more neutral.
4. Price it right: Work with your real estate agent to determine a competitive asking price for your home.
Q: What are common reasons a home sale falls through?
A: There are many reasons why a home sale may fall through. Some common reasons include:
1. Financing issues: If the buyer is unable to secure financing for the purchase, the sale may fall through.
2. Appraisal issues: If the home is appraised for less than the purchase price, the sale may fall through if the buyer is unable to negotiate a lower price or the seller is unwilling to lower the price.
3. Inspection issues: If the home inspection reveals significant issues with the home that the buyer is unwilling to accept, the sale may fall through.
4. Change of heart: Sometimes, buyers or sellers may simply change their minds about the sale.
5. Miscommunication: Miscommunications between the buyer and seller or their respective agents can sometimes lead to a sale falling through.
It's important to carefully communicate and negotiate with all parties involved in the home buying process to try to avoid these issues and ensure a successful sale.
Q: What is a home inspection and why is it important?
A: A home inspection is a thorough examination of a home's condition by a trained professional. Home inspections are typically done when a home is being purchased, and they are an important part of the home buying process because they can help identify any potential issues with the home that may need to be addressed.
During a home inspection, the inspector will look at the home's structure, systems (such as electrical, plumbing, and heating), and other components to determine their condition. The inspector will then provide a report detailing the findings of the inspection. It's important to review this report carefully and consider the implications of any issues that are identified.
Q: What is a mortgage pre-approval and why is it important?
A: A mortgage pre-approval is a process in which a lender evaluates your financial situation and provides you with a letter stating how much they are willing to lend you for a home purchase. Having a mortgage pre-approval can be important for a few reasons:
It can help you narrow your search: Knowing how much you can borrow can help you focus on homes that are within your budget.
It can give you an advantage in a competitive market: If you are competing with other buyers for a home, a pre-approval letter can show the seller that you are a serious and qualified buyer.
It can save you time: Getting pre-approved before you start shopping for a home can save you time by allowing you to focus on homes that you know you can afford.
Q: How do I know if I'm getting a good deal on a home?
A: There are a few key factors to consider when determining if you are getting a good deal on a home:
1. Market conditions: Look at current market conditions in the area where the home is located. Are homes selling quickly or are they sitting on the market for a long time? Is the demand for homes high or low?
2. Comparison shopping: Look at other homes in the area that are similar in size, condition, and location to the home you are considering. This can help you get a sense of what a fair price might be.
3. Home values: Use online tools or consult with a real estate professional to get an idea of what the home is worth. This can help you determine if the price you are being offered is fair.
4. Seller motivations: Consider the seller's motivations for selling the home. If they are motivated to sell quickly, they may be more likely to accept a lower offer.
Q: What are some important things to consider when looking for a home?
A: Here are a few things to consider when looking for a home:
1. Location: Think about the proximity to work, schools, public transportation, and other amenities that are important to you.
2. Size and layout: Consider the number of bedrooms and bathrooms you need, as well as the size of the living spaces and outdoor areas.
3. Condition: Pay attention to the overall condition of the home, as well as any potential repair or renovation needs.
4. Future plans: Think about your long-term plans and whether the home will meet your needs in the future.
5. Budget: Don't forget to consider your budget and make sure the home is within your price range.
Q: How do I choose the right location for a rental property?
A: When choosing the location for a rental property, there are a few key things to consider:
1- Demand: Look for a location with a high demand for rental properties. This can help ensure that you have a steady stream of potential tenants.
2- Affordability: Consider the cost of living in the area and whether it is affordable for potential tenants.
3- Amenities: Look for a location with access to amenities that are important to renters, such as public transportation, schools, and shopping.
4- Safety: Choose a safe neighborhood with low crime rates to attract potential tenants.
5- Potential for appreciation: Consider whether the area has potential for appreciation over the long term.
Q: What are some tips for attracting and retaining tenants?
A: Here are a few tips for attracting and retaining tenants:
1- Offer competitive rents: Stay competitive with other rentals in the area by offering competitive rents.
2- Keep the property well-maintained: Regularly maintain and upgrade the property to keep it in good condition and attract tenants.
3- Offer amenities: Consider offering amenities such as a gym or pool to attract tenants.
4- Be responsive: Be responsive to tenant needs and requests to show that you value their business.
5- Have clear policies: Clearly communicate your policies to tenants, including your expectations for rent payment and property maintenance.
