Selling your Property

The decision to sell a property is a big one. So, it should not be taken in haste. It is better to analyze whether there is a real need for selling it or not. Selling a home has various costs associated with it. Before taking the decision you need to see if it is a worthwhile proposition to sell your property.

  • Let us see some of the costs associated with selling a home:
  • Expenses incurred towards repairs, etc.
  • Costs of home-staging
  • Expenses towards a real estate agent
  • Cost of professional home inspection
  • Expenses associated with remodeling your home

Once you evaluate these expenses, you can measure it against the price you expect for your property and it will give you a fair idea whether selling is the best course of action for you. Sometimes a simple remodeling can make your home feel like new.
After weighing all the pros and cons if you have decided to take the step of selling your house, have a systematic approach towards it.

Carry out repairs

When you need to sell a property, you need to ensure that it is in order. Therefore you will need to get all the repair work done and sometimes even painting may be required.

Price your property

It is important to accurately price your property. You can do so by surveying the prices of similar properties in the locality.

Home staging

Home staging is decorating your home to impress potential buyers. Before home staging, ensure that you remove all the personal items from your home. This will give it a neutral look. The buyer should see his home in the property and not view it as someone else’s home.

Photograph your home

Take attractive pictures of your home from different angles with good lighting.

Advertise your home

In order to reach out to buyers, you will need to advertise your property by “For Sale” boards in your yard. You can list your home on property portals and share your listing on social media sites.
Once potential buyers get in touch with you, you will need to arrange for viewings of the property. After the deal is finalized, there will be detailed paperwork that will need to be completed for transfer of ownership.
Although it may seem to a simple process, inexperience in the field can lead to the sale at a lower value; seller getting frustrated at various stages of the process; seller missing out on good opportunities due to lack of time; etc.
To address all these issues and any others, you can think of hiring a real estate agent. A professional agent is well-aware of the dynamics of the property market and can advise you so that you are able to maximize your returns.
He can take charge of the entire process right from listing your property to the extensive documentation.
If you are placed in GTA and are looking to sell your home, you can engage the services of Jas. He has years of experience in the property market.

Based on which he can advise you regarding:

  •  Alterations and additions to your home that will enhance its value
  • Accurate pricing of your house so that it is sold quickly

Besides he can offer services such as:

  •  Photographing your home
  •  Listing it online
  •  Marketing it extensively
  •  Arranging viewings
  •  Negotiating
  •  Documentation

Make the process of selling your home a hassle-free affair with the services of Jas!

Rental Options in GTA

For an individual, it is very important to be clear about what to rent and how to rent a property. Many people face difficulties in searching for the rentals in GTA. To make your job easy, it is good that you should know about all type of options available for you in the market. Here are some of the options which are available for you in GTA.

1. Houses
This is one of the best options if you want to live in a residential locality. With increasing demand, many people have converted a fraction of their home into one or two room apartments. While most of these new apartments are part of the basement, you can also find houses which are converted into several apartments.

2. Apartment buildings
These types of buildings are mostly owned by an organization. Most of these buildings are older as not many new buildings are built recently. This condition is there because many people today want to live in houses rather than the building apartments. Though, you can still find this type of rentals if you want.

3. Condos:
The area is filled with condos. These are among the best options to buy because of the facilities they provide. The condos provide you many amenities like gym, pool, party rooms etc. Many of these condos are owned by the investors who rent them. You can directly rent a condo from the owner but you have to follow the rules of the condominium.

Finding a Rental
Though there are many online resources like Craigslist and Kijiji, there are possibilities the advertisements and classifieds on these platforms are scams. It is always advisable that you should not deposit any money before seeing the apartment and confirming that the person you are dealing with actually owns it.

Tips to get a good rental apartment
– Neighbors:
It is always good to collect some information about the people in the locality you are going to stay in.

– No lies in the application:
You should always be spot on with the information you provide as a tenant to the owner. The lies in the information provided can lead to future differences between you and landlord.

– Flexible thinking:
It is very important to keep a broad mind as sometimes it is not easy to get affordable apartments at good locations.

Your rights as a Tenant:
For a person renting a property, it is very important to know his/her rights as a tenant. Some of the rights are mentioned below:
Pets- you can keep a pet unless your landlord has mentioned it in the first place when you rented the apartment.

Right to access property- your landlord can only enter your property within 24 hours of notice.

Selling of property by the landlord- if you have a written contract your landlord cannot force you to leave the apartment even if he/she sells the property.
Other than the rights mentioned there are many other rights under the residential tenancy act.

So, if you are planning to lease a property than Jas is the right person to consult. With his in-depth knowledge about the property market, he will ensure that you get a desirable property at affordable rates.

New Mortgage rules Effects

Effective January 2018, Canada will be implementing new mortgage rules which are going to affect all homebuyers in the region.
New Mortgage Rule of 2018

According to the new rules, a buyer is eligible for a mortgage at a rate that is higher of the two either 200 basis points (2%) greater than the mortgage rate they have qualified for or Bank of Canada’s five-year benchmark rate (currently 4.99%).

As per the new rules, home buyers will qualify at a rate that is 2% higher than their negotiated contract rate. This ensures that majority of the homeowners will pay a minimum of 20% down payment besides the sustainable ongoing payments.

These rules confirm that banks are providing loans to individuals who are capable of managing them with an increased rate of interest. This decreases the dependence of banks on loan-to-value calculations in markets where the prices of residential property are showing a rapid rise.
Who will feel the impact of these new rules?
Home-buyers who do not fulfill the criteria for availing bank loans. They will have to avail loans from alternative lenders at probably higher rates of interest.

Home buyers who would be required to meet the bank lending criteria, but now can qualify at an above contract level or 2%.
All those who are looking to refinance their existing homes or looking to purchase a property at 20% down payment.
How will this impact home buyers and sellers?
It is expected that the purchasing power of home buyers will be reduced.
As per the view of economists on this matter, the demand for housing will also see a downward trend.

Negotiating refinancing of an existing home will become difficult. If while renewing, you are with your existing lender then you are exempted from qualifying for these rules. However, if you change your lender during mortgage renewal you will have to verify your eligibility.
The options available for first-time buyers are they can either look to increase their down payment to qualify or add a co-signer who has an income to the loan. If they are not able to fulfill these criteria, they will have to wait a little longer to purchase.

Because of the reduced purchasing power, buyers may opt for economical options such as condos or townhouses instead of detached homes.
If you have been saving up to purchase your dream home in Greater Toronto Area, don’t get disheartened by these complicated rules! Jas will help you realize your dreams! Jas is a leading realtor in GTA who is well experienced in the field. He understands your needs and the rules and regulations impacting the property market. He will advise and suggest suitable properties to you.

Are you looking to buy your 1st home or looking to upsize/downsize from your existing property? 

Are you a first time home buyer? Nervous about it? The property market can be quite difficult to tackle! You might have a number of doubts troubling you in this regard.
Here are some basic guidelines that will help to allay your fears:
Start the process online:
Don’t we turn to the internet for any information or service we desire? You can do it for the property as well. There are numerous relevant sites which will provide you sufficient information regarding the type of house you require. You can filter your search by specifying the number of rooms, the location, etc. You will get a fair idea of the property market through this research. However, you will need the help of a professional realtor to find the ‘house of your dreams’.
Be Wary of Bidding Wars
Bidding wars are common in the real estate market. But they can be quite intimidating for first-time buyers as they are not aware of actual property prices. Hence, the best way to approach an auction is with the help of an experienced agent. He will ensure that you do not pay more than required for the property.
Timing has to be right
Buyers are not aware of the dynamics of the real estate market. While some wait for long periods with the hope that the prices will drop, others are impatient. While those who wait may regret later if property prices raise those who are impatient might miss out on a good deal in their hurry to buy. Professional realtors are able to guide buyers regarding the perfect time and deal for them.
How can a professional Real estate agent help you?
A real estate agent is qualified and experienced. He has an in-depth knowledge of various aspects of the property market. He can guide you regarding the pricing, help you negotiate, and handle all the complicated documentation for you. A real estate agent makes your home buying venture a pleasant experience.
One of the leading realtors in GTA is Jas. For any kind of property needs, you can rely on him. With his vast experience in the field, you can rest assured that you will get only the best deal. You can get a ‘House of your dreams’ without any effort. You only need to discuss your requirement with him and he will do all the hard work for you.