Thursday, October 30, 2008

So this is your second home buying experience....

As a homeowner for a few years now, you have had the time to evaluate the choices that you made as a first time buyer. Now you’re looking at the market, you realize that you can get substantially more for your home and yet slip into something more comfortable for a few dollars more per month. What can you expect as a second time buyer?

Your biggest advantage is that you have a greater sense of confidence in sailing your way thru a home purchase. Having had the experience with the lawyers, agents, inspectors, bankers and movers, you know what to expect from most of the people involved. This must make your decision all the easier to make.

Many First Time Buyers made their choice in haste, or perhaps their family situation soon had additions just after the move, or the available space is just too large or too small for the original criteria. Has your job moved?

In the event of a market miss-step, I do offer a You will Love It Guarantee if you are unhappy with your choice.

As a Second time Buyer, you now have different concerns; Do you sell first and then scurry to buy anything that fits, or Do we buy first and the feel the pressure of needing to sell? Buying before selling may require you to carry two properties. If you sold first, you may be living with your in-laws yet again or seeking alternative accommodation.

With a softening market climate, it is more important than ever (in the last 14 years since the last slowdown) to find professional real estate representation that will protect your interests and point out the potential pitfalls to even the best made plans. There may be changes in disclosures and procedures since your last purchase; Passing your home inspection, FINTRACC, Will you provide a SPIS, or penalties on changed financing.

Internet Advertising is now critical to expose your property to the largest buyer pool via every method possible in addition to sites like Realtor.ca. IMPACT advertising will showcase your home in email capable presentations.

There are listings that are currently shown sold, displaying the phrase conditional upon the sale of the purchaser’s property. This is a tactic that was used for years in different markets that has fallen out of favour. Maybe you would like to start looking at homes with that option in your toolbox of available choices. Sellers may in this market consider holding your condition as a suitable offer on their home. Check the Market Watch report for your neighbourhood.

Take advantage of my 19 years of real estate experience and intimate knowledge of the west Toronto and Etobicoke home market to assure a smooth bump free and stress free purchase and sale.

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