Buying
Q. What should I consider when I start to look for a home?
A. First, put together a list of features and benefits you want in a home. Think of such things as pricing, location, size, school zones and amenities. If you can't get a home at the price you want with all the features you're looking for, figure out what features are most important to you and rank them in order of priority so you know what you're willing to give-and-take.
You should also consider your future needs. Maybe now is the time to buy a larger home rather than buying a small home and expanding it in the future. Your agent can help you compare the price of homes with the features you are looking for or suggest alternate uses of space.
Q. How do I choose between renting and buying?
A. Owning a home offers tax benefits, as well as the freedom to make decisions about where you live and your home that you live in. Homeowners, unlike renters, can secure a fixed-rate loan and lock in their monthly payments, so they can make investment plans knowing their expenses won't change substantially. Renters are at the whim of their landlord, who can raise the rent each year without a renter's input. Homeowners, on the other hand, are in control of their property and decide whether they allow pets, decorating, or permanent improvements.
Q. Should I buy first, or sell first?
A. The answer to this question is totally up to you. Do you need the equity that's built up in your present home to complete the purchase of a new home? If so, you either need to sell first or consult your bank for mortgage options. If not, you may choose to buy first and sell later. Before making a final decision, you should engage a real estate agent with whom you can enter a trusting relationship. Then discuss this question with him or her, touching on every aspect of what it may mean for your particular situation.
Q. Why do I need an agent to help me find a home with all of the technology and advertising available?
A. The Internet and newspapers/magazines are good places to start researching the current housing market. But once you've looked at what's available, it's a good time to get a professional involved. If you go it on your own, you might spend hours scanning newspaper ads and home magazines, driving through neighborhoods seeking "for sale" signs, or phoning about individual listings and still miss some of the best available homes. One of our agents will save you time, money and provide access to a wealth of information resources to help find that special home.
Q. As a buyer, do I have the right to obtain past information about the property I'm interested in purchasing?
A. Yes. Sellers are required to disclose all known property defects. With your agent's help, you can find out what has happened to the property in the past. You should make careful observations, examine the property, and request or otherwise obtain any other important records such as a Land Information Memorandum from the local council.
Q. What do all of those abbreviations in property ads mean?
A. If you find yourself stumbling to understand a property description, you're not alone. We've composed a list of some of the most frequently used abbreviations to help you understand a BRM from a BTHRM and more.
|
BTHRM |
Bathroom |
|
BRM |
Bedroom |
|
GGE |
Garage |
|
INT |
Internal |
|
OSP |
Off street parking |
|
APT |
Apartment |
|
BKYD |
Backyard |
|
CRPRT |
Carport |
|
DBL |
Double |
|
DR |
Dining room |
|
FR |
Family room |
|
INGRD |
Inground |
|
LRG |
Large |
|
SQ FT |
Square Feet |
|
SQM |
Square Metre |
|
T/HOUSE |
Townhouse |
|
W/C |
Watercloset |
|
SAT |
Saturday |
|
SUN |
Sunday |
|
WED |
Wednesday |
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