Top 10 house features good for resale

Renovated HomeYou are looking at purchasing a home and you know you won’t be there forever so you  want to make sure it has house features good for resale.  That’s a good question! You want to purchase a home that will give you a good resell value later on. To do this, look at the type of home you’re planning to purchase that may be attractive to future buyers. When you’re looking to purchase a home, check to see if some or all of these features are offered:

1. Location of the home. Is the home located in a good neighborhood that is close to schools, stores, freeways, etc…
2. Check the crime rate
for the area you’re thinking about purchasing in. What are the crime rate statistics. Is the neighborhood safe?

3. Is there anticipated growth for the area such as: new schools, stores, future planned homes, etc… How will this affect you in the future?

4. Try to make sure the square footage of your home is at least 1200, in order to increase the likelihood of being able to resell.

5. Look for homes that have at least three bedrooms as part of your prospective home purchase. This will be helpful in reselling your home in the future.

7. If the home you’re thinking about purchasing has a pool, keep in mind this may limit the number of prospective buyers if you decide to sell your home. Pools don’t necessarily add much value to the home and can be expensive to maintain!

9. The number of bathrooms is also important. Getting a home with at minimum of two bathrooms is a must when purchasing a home for future resell.

10. Make sure the home you’re considering has a fireplace, air conditioning and heating system.

When you purchase a home, just think of being able to get a good return on your investment if you had to resell. In most cases at a bare minimum you want to get the money you have invested in your home out of it, if you had to sell for some reason. It’s even better if you can make a profit on you sale isn’t it? I thought so, just be wise when you’re purchasing your home, it’s an investment in your future!

TOP 10 THINGS TO KNOW ABOUT THE QUEENSWAY

Cute house in The Queensway

Cute house in The Queensway

By Jody Thompson
1. One of the best up and coming neighborhoods with great value in Toronto. Homes get snapped up in days.

2. Known for its tree-lined streets, quaint bungalows on large lots, parks and trails. Enjoy the trails along the Humber River, or strolling along the lakefront where you can watch the sailboats, joggers and cyclists.

3. Great schools in the area including one of the best rated Catholic French Immersion schools EEC Sainte-Marguerite-d”Youville., a very strong public elementary school – Norseman Heights, as well as The Etobicoke School of the Arts – one of the best artistic schools in the city.

4. Close access to Humber College which is now the center of advanced study in creative professions. Areas of known prestige include, advertising, public relations, publishing, business, and graphic design to name a few.

5. Incredible accessibility! – Go trains, Royal York Subway, the Gardiner, the 427 with easy access to the 401, 400, 407 and Pearson Airport.

6. Excellent recreational facilities nearby including COE, a boutique for cycling, strength and flexibility gym, outdoor tennis courts, outdoor skating rink with artificial ice, and an indoor swimming pool.

7. One of the safest neighborhoods in Toronto with a very low crime rate and neighbors that look out for each other.

8. Some of the best food in Toronto including my favorite – Luci’s -on The Queensway, The Cheese Boutique, Vibo and Momiji.

9. Parks and a downtown area part of the exciting revitalization city wide projects.

10. Strong community spirit filled with hospitality and culture. Upcoming Festival – Celebrate the Queensway.

If you are interested in knowing more about the Queensway, I live and work in this wonderful area and would love to help you with your home search. Please learn more about me on My Website

How To Identify The Next Up & Coming Neighborhood In Toronto

By Jody Thompson

Street Houses

Up and Coming Neighbourhoods

1. City plans for investment or revitalization in the neighbourhood

2. Well kept older neighbourhoods where you are starting to see new buyers give a major facelift to the homes.

If the homes are well kept, they are more likely to become popular

3. Areas that are less than a 45 minute commute to downtown by public transport

4. Sleepy, safe neighbourhoods

(crime rates for all neighborhoods are available from the Toronto Police website)

5. Neighbourhoods with highly rated schools that have not seen the same level of appreciation as other areas in recent of years .

(all schools are rated by the Fraser Institue each year and available online)
With interest rates still close to an all time low, there are neighbourhoods out there that are still affordable and great investments. A realtor that works in that area can also help point you in the right direction. Your home will most likely be the biggest investment that you make, you want to do it wisely.

Should you sell your home without a realtor?

for sale by owner

By Jody Thompson
www.thompsonsells.com

For Sale By Owner – Sounds Good? Maybe Not

There are hot pockets in Toronto where signs go up on the lawn on Tuesday or Wednesday, an open house happens on the weekend and then the SOLD sign appears on the lawn the very next week.
It’s hard to imagine that your real estate agent actually earned their commission for this transaction. The houses seem to sell themselves. So, why not sell your home without a realtor?
Well, it’s not that easy, let me tell you why….

There are a lot of things that happen behind the scenes that you should be aware of before your make the decision to sell your home yourself.

Firstly, an experienced agent will work with a potential seller to make recommendations on what they need to do to their home to maximize the price. This often includes fixing small deficiencies, or even staging your home for sale. This ultimately benefits the seller by increasing the home’s selling potential.

An experienced agent also has a large network of other agents and a marketing plan to promote your home. The more people that see your home, the more likely you are to find the perfect buyer.In addition, agents are experienced in negotiating deals. Many buyers do not feel comfortable dealing with the owners directly during negotiations. An agent knows what needs to happen to make the transaction go smoothly. There are inspection requirements, legal requirements, paperwork to fill out, terms to understand, negotiations to be had, fees to be paid and on and on.

So, it may seem like a no brainer to sell your home without a realtor .. But the value of a realtor is all in the details. Although selling your own home may seem like a no brainer, it is important to remember that getting top dollar for your home often requires the expertise of a realtor.

Areas where the Commute to Downtown Toronto will Improve

Now Operating Pearson to Downtown Express

Toronto Pearson Train

By Jody Thompson
www.thompsonsells.com

Commuting to downtown Toronto is not easy for most of us so any opportunities to improve that commute are always welcome.
There is good news for the residents of Humber Heights in Etobicoke. The new Weston Go train Station will connect with the new rail system that is being built for the 2015 Pan AM Games. The new rail system will make only one stop enroute to downtown to and from the airport and that is at the new Weston Go Station (located very close to Humber Heights. )

This means that residents in Humber Heights will now be one stop to the Airport, and one stop to downtown. Not too shabby!

Humber Heights may be an area that you might want to consider if you are looking for that easier commute to either the airport or downtown Toronto.

Youth Flock to Toronto Downtown Core for Work & Real Estate Decisions

toronto condo scape

By Jody Thompson

We are seeing reversal of the trend set by the boomers – move to the suburbs to raise their families in their McMansions. The Echo boomers are choosing downtown convenience over long commutes to their sprawling suburbia homes.  Our youth is definitely selecting convenience or size.  It really is a combination of I want to experience the downtown life after growing up in the burbs to I do not want to commute for an hour to get to work, my time is too precious, to I can’t afford to by anywhere near the city so I will rent and walk to work.  “Both my of my kids grew up in the suburbs and have elected live in the city and walk to work and they are not alone” says Jody.  “I truly believe that every community offers advantages and the downtown lifestyle definitely offers convenience”

If you are looking to rent or buy in the city, I would love to help.
Please Contact Jody
Jody

 

 

Jody’s Gems – Humber Bay Shores Park

Mesmerizing  Fall Colours in Humber Bay Shores Park

I love the fall and there is nothing more beautiful than some of our gorgeous parks in South Etobicoke.  You definitely do not need to go far from home to enjoy the spectacular colours.  This is a photo of Humber Bay Shores Park, located right along Marine Parade drive.

10 Ways to Get Your Offer Accepted in the Hot Toronto Market

situation

situation

Trying to buy a home in Toronto can be a frustrating experience.  I have listed 10 tips that will help you win in this heated market.

1. Make your offer as “clean” as possible. Clear any conditions like financing before you put the offer in.

2. Don’t ask the seller for their personal property that are not in the listing.  If they did not include it, they probably want to keep it.  I have seen deals fall through over something as small as the drapes!

3. Ask your agent to find out what’s important to the seller (price, terms, closing date, etc.) and then craft your offer around this information.

4. The typical inspection period is 5 days long. Consider doing your inspection BEFORE you put your offer in.  This way you can submit a clean offer.

5. You may have to offer more than the list price. Really? Yes. Really.  The price that you will pay is the price the market will bear.

6. A typical earnest deposit is $20,000 on any property in Toronto. Give the seller more than this to show you’re financially strong and serious about buying the home.

7. For first time buyers, agree to get pre-qualified with the listing agent’s preferred lender. This doesn’t mean you have to finance the home with the listing agent’s preferred lender. It will just reassure the sellers that you really are qualified to purchase their home.

8. Write a letter explaining why you chose the seller’s home and why you want to live there. You may even include a photo of your family, if you feel comfortable doing this.

9. Make sure you’ve provided all of the required documents with your initial offer. If a seller receives multiple offers, one of the first things he/she often does is throw out the sloppy and incomplete offers.

10. In a multiple bid situation, put your best offer in first.  Your best offer is the maximum amount your are prepared to pay for the house.

If you are are looking for help in purchasing your home, please let me help.  You can contact me through by My Website

Good luck and happy home buying!

Key Ingredients to a Successful House Flip

House FlippingI often get asked if there is money to be made in flipping houses as  is witnessed and somewhat glamourized on several tv shows.   The answer is yes IF your project includes 5 key ingredients.

  1. You must select the RIGHT property and pay the RIGHT amount for the property.  The right property is one that is a diamond in the rough –  is selling for much less that other properties in the area, because it is not up to the standards of the neighborhood.   The purchase price must reflect the costs required for renovations, and the profit that you are expecting to realize for your hard work, and efforts.  The renovations should get it up to the neighborhood averages  not create the most expensive house in the neighborhood.
  2. A house flip must be treated as a full time business as it must be done right and quickly.  Time is money.
  3. Do the right renovation for the area.  If you neighbourhood commands 4 bedrooms and you build 3, you may have an issue selling for top dollar.
  4. Do quality renovations.  Potential buyers love to purchase renovated homes with all the bells and whistles however they will want to make sure that you did not cut corners just because you were flipping.
  5. If you can answer yes to the above, you are well positioned to make a nice profit from your flip!

If you would like more information on how to flip a house, please contact me My Website