The Ramahi Real Estate Group 780-406-4000

Purchasing a home can be quite a complex proposition.  Here we take a look at the steps involved in the home buying process, and what you can do to make it simpler.

1. Deciding To Purchase a Home

You have to make numerous decisions while purchasing a new home. The most important of them being the duration for which you are planning to stay there. It is advised to buy a house only if you are planning to live there for between 2-5 years. In many places, you may find renting to be much more affordable than owning the house.

Aside from mortgage payments, there are many more responsibilities that come with a property purchase such as, paying for insurance, sticking to a budget and also repairs. Consider what reasons are making you more inclined towards buying a home. Tired of renting places and want to have a place of your own? Starting a family? Or trying to make some money in real estate?

2. Checking Out All Your Options

If you are a first-time borrower it isn’t mandatory to make a down payment. However, you will end up saving a considerable amount of money on your mortgage if you choose to make a down payment. Typically, it should be 20% of the price of your house. After evaluating home prices in different areas, you may find some places to be a lot more affordable than others.

Take what experts say into consideration on whether the prices will increase or decrease.  By using a home affordability calculator you can determine how much money you can spend on the purchase. Take a look different mortgage rates and then calculate a few of the basic mortgage options. You can then determine whether the rates will increases or decrease in a couple of years.

If you are confused about whether to opt for a fixed rate or adjustable mortgage rate, speak with a few of the people living in the area that have bought homes in the last few months. Asking them for some advice on some of the challenges they had to face and what tips they can offer may prove to be effective while making your final decision.

3. Get A Mortgage Pre-Approval

First, start off by comparing different mortgage rates online. You can visit websites of online lenders which will help you estimate different mortgage options. You can also evaluate options with a local bank or credit union. A lot of companies offer “pre-qualify” systems that help you estimate what you can afford and what you cant. This is an excellent step for evaluating the different lenders.  However, it isn’t the same as pre-approving. After narrowing down your search to just a couple of lenders, you can then apply for a pre-approved mortgage with each of the companies. Every application causes a drop in your credit score, this is why it’s advisable to apply with moderation.

4. Shop For A Great Home

Compile a list of all the different features that you are looking for in a home, like the number of bedrooms or closets and take this with you every time you visit a house. Looking at different properties each day makes it difficult to differentiate one from the other. Write down notes on every house you visit, this will make it easier for you to make a final decision. Take a note of all places that require repairs and calculate the amount of money it will take you to fix them, this can help when you are negotiating the price of the house.

5. Finalize The Deal

Organize a home inspection, as this is an important step before purchasing a home.  Spending up to $200- 400 on an inspection can bring to light any potentially serious problems in the structure. In fact, you can use the home inspection report to negotiate a better buying price if you are keen on purchasing the property. Evaluate all your homeowner’s warranty and insurance options and look for ones that give you the best deal. Contact your mortgage lender for your final loan approval.

Ensure that all closing documents are in place by getting them reviewed by your attorney or agent. Following these steps is essential to making a smart property purchase. Let us help make your next Real Estate transaction a successful one!

How to Choose the Neighbourhood That Best Suits Your Lifestyle

It is common for first-time home buyers to spend ample time focusing on finding the perfect home, but even an ideal home will be less than perfect if it is not in a great community. Therefore, it’s a good idea for first-time buyers to first invest a bit of energy in searching out the right neighbourhood. Ideally, the local area that is selected will perfectly suit the entire family’s lifestyle, and there are a few factors to consider when narrowing down the options.

The Location of the Community

After buying a new home in a lovely neighbourhood, some people will spend a considerable amount of time enjoying life in their new space. However, all will need to venture out of that small community from time to time. With this in mind, the ideal community is one that is located next to shops, restaurants, medical centers and more that can meet the home buyer’s needs. People will generally enjoy a more relaxed lifestyle when they have access to almost everything needed within a few miles of their home.

The Amenities and Services Available

More than that, the community itself may need to have specific amenities in it. For example, some neighbourhoods have a community center, nature trails, play areas for the kids and other similar amenities. They may also have a far more active community spirit, and the neighbourhood may host parades, picnics, festivals and other local events that can bring residents together. Not all of these are important to all buyers, but some may be far more important than others to certain individuals. Keep in mind that those amenities and services that are not available directly inside the community may be available in the larger community, and the home buyer should consider all of this when deciding where to buy a new home.

The Residents in the Community 

Another point to consider is the general makeup of the community. Some communities may have a quieter ambiance, and this may be more common with more established neighbourhoods that have residents who have lived in the area for years. Other communities may be more appealing to families with younger kids or who are about to start a family, and this may be due to proximity to schools, the kid-friendly amenities in the area and more. Most home buyers will find that they feel more at home living in a community when they choose an area where other residents are in the same general stage of life as they are in.

It can take time to narrow down the choices to find the right community to live in. These factors must all be considered in combination with the type, style and affordability of housing in the community. While some home buyers will search for a neighbourhood on their own, others may find it easier to work with a real estate agent. Ready to learn more about the different type of neighbourhoods in the area that may be most suitable for your needs and preferences? Contact us today!

Selling a home is often harder than what people realize. They often envision that they are going to put their house on the market and within a few days they will have someone that loves their home and wants it for the price that they have listed. That is hardly ever the case. Most people will find that their homes sit on the market for a few months before they find someone interested, and chances are the person is not going to pay the asking price, depending upon how bad they want this home.

For those who are in the process of selling a home, what can you do in order to sell your home faster? Better yet, what can you do that is going to sell this home faster and get you more money for this home? There are several tricks that people are using in order to do just that. And if you use these tricks as well, you may find that your home disappears off the market sooner than what you anticipated, which is always great news for sellers!

Tend to the Outside of the Home

You have heard it before; curb appeal is everything when it comes to making a great first impression. Thisis why you should always tend to the outside of the home to make it look great. This does not mean that you have to invest a lot of money into paint or the like to spruce it up. A few ideas:

• Pressure wash the driveway to make it look great
• Wash down the porches and decks to make these look fresh
• Mulch around the plants that are in the yard
• Mow the yard and keep it looking great
• Clean the outside windows to allow the light to shine in when people are viewing your home

Small Changes Can Make a Difference

Those who are trying to sell their home will find that even the smallest of changes are going to make the difference in getting your home sold faster and for money! Here are several small changes that are not going to break your bank and are simple enough to do on your own that render results.

1. Put new hardware on the cabinets and drawers in the kitchen. This can make even the older cabinets look newer, which is what buyers like!
2. Put in new light bulbs that are higher wattage to allow the rooms to be bathed in light. When a home is lighter, buyers are more willing to buy these homes.
3. Put a fresh coat of paint on the walls, around the doors and the like. Be sure to use a neutral colour so that potential buyers can see just what they could do with this home.
4. Change out the door hinges on the front door and even the knob to give this a fresh look.
5. Put up new blinds in the windows if these are broken or discoloured with age.
6. Be sure to paint the inside of closets a bright white to make them look larger, a large closet is one of the biggest components for several buyers.
7. Put a new welcome mat at the front door…it makes your home appear fresher!
8. Make sure the outlets in the house and the switches are coordinating.

Décor Choices Can Make All the Difference

While you have your own taste in décor, did you know that it is the décor choices that you make that can affect the sale of a home? Many people go into a home that is not decorated in a way that they like, they see a hassle when they see this, and they are not going to buy or even if they do they are going to offer a much lower amount than what the seller wants. Here are a few tricks that can make your home a blank canvas:

• Keep furniture in the home that is bland and very generic
• When painting walls, be sure to go with a neutral colour
• Keep fresh flowers in the home that are white or soft pastel colours as this is inviting
• Get the clutter out of your home…clutter can make a home that is exquisite look like it is falling down!

Clean…and Clean Some More

The best thing that you can do in order to get your home sold sooner and for more money is to clean…and keep cleaning. Be sure that you are:

1. Vacuuming on a daily basis
2. Have carpets and rugs steam cleaned before showing the home
3. Plug in some air fresheners in the home that is going to help it smell clean. Tip: many people find that if they use an Apple Cinnamon smell in the home it will lead to a sale sooner.
4. Ensure that closets and the laundry room are neat and tidy as these are going to be major areas that buyers assess.

When it comes to anything that you do to the home in order to sell this sooner, remember that you do not want to invest more money into the property, as you may not make this back. Thus, keep it simple and cheap when making improvements.

One of the best pieces of advice that you can take is to work with a realtor. A real estate agent has worked in the field and knows what will sell. He or she can walk through the home with you and decide what needs to be done, what can be left and the like. Their goal is to get your home sold, and if you are willing to take their advice you may find that you sell this home sooner and for more money.

For those who are selling, these tips may be one way to get ahead of the competition in the area…and get your home sold sooner! Get in touch today for a FREE HOME EVALUATION!

Why Should I Consider a Home Inspector?

Buying a new home is an exciting time in your life! Whether this is your first home or your sixth home, finding that perfect house and then proceeding with finalizing the details is both exciting and stressful. Any time that you are purchasing a home, you need to be certain of what you are getting. How can you do this? There are several things that you can do to ensure that you are getting a house that is worthy of being your home. However, one of the most important aspects is to have your potential home inspected by a professional.

What is a House Inspection?

An inspection is a process in which a licensed professional look at the home you are interested in and gives you a thorough inspection. He or she may be looking for damage that may affect you later if you were to buy the house. Problems that your mortgage company may not allow for the mortgage to go through. And they are looking for anything that doesn’t seem to be right. Their ultimate goal is to ensure that the house you are considering buying is going to be safe and last for several years to come without any major repairs having to be done.

The Benefits of a Home Inspection

For those people are who are considering a home inspection, they will find that there are many benefits to this and is a wise decision to make. These benefits include:

It can save you money in the long run

The information that an inspector can find from looking through a home can save you money in the long run. For example, while the average cost of an inspector is anywhere from $200 to $500, they may be able to save you around $25,000 of electricity issues that require a complete rewiring of your home.

The information that a home inspector tells you can be used as negotiations.

What if the inspector finds something cosmetically wrong with a home or even damage to the home? This can be something that you use to negotiate down the price of the home since you are going to have to fix this upon living in the home.

Issues found during an inspection can become the responsibility of the sellers.

One of the biggest benefits that many home buyers find with an inspector, is that he or she may point out issues that the seller must fix before you can buy the property. For example, many mortgage lenders are not going to give a mortgage to a couple for a home that needs a new roof or another type of major repair. When you utilize a home inspector, you will find that you can know the information upfront and require that the sellers make these repairs otherwise you walk away.

You will feel more at ease with what you are buying.

For those who think that they have found the perfect home, having an inspector look at this before signing the paperwork, can give you another boost of confidence. When you know that you are getting a home that is worthy of the price that you are paying and that you are going to have no major issues within the foreseeable future, it can make the process even easier for you.

A home inspection can also help when selling your home.

For those who are getting a home inspection for their home before it is sold, they are going to find that this can often give you more selling power in that you can prove that the home is in great shape. Having this information on hand to show potential buyers is a great way to improve your chances of selling your home quickly and for the price that you want.

Aspects That a Home Inspector Checks

One of the most common questions that people ask once they realize just how beneficial an inspector can be for buying or selling a home is what do these people look for in a house? There are several aspects that an inspector is going to come into a home and look at. For example:

• The structural components of the home including the roof, foundation, attic space and even looking at cracks in the floor.
• Exterior faults such as if there is broken seals on the glass windows, is the porch/deck in good shape, is the garage door fully functional, and other elements.
• The roof is examined in detail for loose shingles or if the inspector thinks that this will need to be fixed in a year or two. He or she will also examine the gutter, chimneys, nearby trees and the like.
• Plumbing is tested to ensure that it works properly and is up to code.
• The electrical is looked at it to ensure that it is up to code.
• Heating and air conditioning systems are checked to ensure that they work.
• The inspector looks at what type of insulation is used throughout the home.
• He or she may also look at the appliances in the home to ensure they are functional.

As you can see, the aspects that an inspector checks are vital components to ensuring that you are not only happy in a home but also safe and not making a purchase that you will regret later.

Should You Consider Hiring a Home Inspector?

The answer to this is yes. After all, don’t you want to ensure that the home you get is worth the money that you are paying? The home inspector is one vital element in finding this answer. You will save money in the long run, have better peace of mind, and you are making a smart decision in working with a home inspector before buying a home. Keep in mind that several mortgage companies now want everyone to work with an inspector before they approve the loan!

If you’re looking to buy in the Edmonton Area, get in touch with The Ramahi Real Estate Group.